Global Accounting And Auditing Market to Reach $308.63 Billion by 2029, Growing at 6.7% CAGR

What market dynamics are playing a key role in accelerating the growth of the accounting and auditing market?
An uptick in financial deception activities underlines the propulsion of the accounting and auditing spheres. Financial fraud, characterised by unlawful or deceitful transactions purposed with misleading others for fiscal advantages, is capably detected and curtailed by accounting and auditing. These disciplines perform their roles through supervision, ensuring adherence to regulations, meticulous scrutiny of financial documentations, and by setting up internal controls as an attempt to reduce the menace of fraudulent ventures. For example, as per UK Finance, a British banking sector trade association, legitimate fraud losses in May 2023 were registered at £485.2 million ($616 million). The total count of cases in 2022 was 207,372, exhibiting a 6% surge as compared to 2021. Hence, the escalating incidences of monetary fraud stimulate the growth of the accounting and auditing industries.

Get Your Accounting And Auditing Market Report Here:
https://www.thebusinessresearchcompany.com/report/accounting-and-auditing-global-market-report

How will the growth rate of the accounting and auditing market shape industry trends by 2034?
The market size for accounting and auditing has seen robust growth in recent years. There is expected expansion from $222.35 billion in 2024 to a predicted $238.06 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. The growth observed in the historical period can be attributed to factors such as the demand for streamlined business processes, pressure on business leaders, transparency and flexibility in business process enhancement, efficient management of inventory systems, and better management of working capital.

In the forthcoming years, the market size of accounting and auditing is projected to experience robust growth. The market value is anticipated to escalate to $308.63 billion by 2029, with a compound annual growth rate (CAGR) of 6.7%. The growth anticipated in the forecast period is attributed to the comprehension of the significance of forecast drivers, solicitation of professional advice, utilization of insights from various outlooks, incorporation of feedback mechanisms, and constant refining and iteration. Key trends that are expected to be prevalent in the forecast period encompass the increased uptake of technology, a surge in demand for specialist services, the proliferation of online accounting services, the emergence of blockchain technology in auditing, and a heightened focus on cybersecurity in auditing.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14830&type=smp

What trends are poised to drive the future success of the accounting and auditing market?
Leading businesses in the accounting and auditing sector are focusing more on incorporating Internet of Things (IoT) and blockchain technology into their financial auditing solutions, including web-based analytics tools. This is done to boost data precision, promote transparency, simplify auditing procedures and augment fraud detection abilities. Blockchain analyzers commonly come with features such as transaction tracking, address monitoring, risk evaluation and reporting functions to facilitate users in comprehending and evaluating blockchain activities effectively. As an example, Ernst & Young Global Limited, a professional services firm based in the UK, introduced the fourth iteration of the EY Blockchain Analyzer in February 2023. This platform includes Reconciler boasting bulk reconciliation of off-chain records to the public ledger, extended support for cryptocurrencies like Dogecoin, and improved analytical capabilities. The incorporation of the Internet of Things (IoT) and blockchain technology guarantees enhanced integrity, traceability, and security of data, thereby stimulating a heightened demand for auditing services within industries that are adopting these technologies. This also reaffirms EY's dedication to technological innovation within the accounting and auditing industry.

Which primary segments of the accounting and auditing market are driving growth and industry transformations?
The accounting and auditing market covered in this report is segmented -

1) By Type: Financial Audits, Capital markets, Corporate Reporting, Actuarial Services, Internal Audit
2) By Service Provider: Large Enterprises, Small And Medium Enterprise
3) By End Users: Consumer markets, Energy And Natural Resources, Financial Services, Government And Public Services, Life Science And Healthcare, Media And Telecommunications, Technology

Subsegments:
1) By Financial Audits: External Audits, Statutory Audits, Internal Control Reviews
2) By Capital markets: IPO Services, Regulatory Compliance, Due Diligence, Mergers And Acquisitions (M&A) Advisory
3) By Corporate Reporting: Financial Reporting, Management Reporting, Regulatory And Tax Reporting, ESG (Environmental, Social, Governance) Reporting
4) By Actuarial Services: Insurance Actuarial Services, Pension And Employee Benefits Actuarial Services, Risk And Investment Actuarial Services
5) By Internal Audit: Operational Audits, Compliance Audits, Risk Management Audits, IT Audits

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14830

Which geographical regions are pioneering growth in the accounting and auditing market?
North America was the largest region in the accounting and auditing market in 2024. The regions covered in the accounting and auditing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the accounting and auditing market landscape?
Major companies operating in the accounting and auditing market are Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, Ernst & Young Global Limited, KPMG International, BDO Global, RSM International, Grant Thornton International Ltd (GTIL), Allinial Global, Baker Tilly International, Moore Global, HLB International, Mazars, PrimeGlobal, Crowe Global, CBIZ, Evelyn Partners, DFK International, CliftonLarsonAllen, Marcum LLP, Plante Moran, PKF International, Armanino LLP, Wipfli, Eide Bailly, Citrin Cooperman, Haines Watts Group, EisnerAmper, Kearney & Company, UHY Hacker Young, Johnston Carmichael

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=14830&type=smp

What Is Covered In The Accounting And Auditing Global Market Report?

• Market Size Forecast: Examine the accounting and auditing market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the accounting and auditing market for a structured understanding.
• Key Players Overview: Analyze major players in the accounting and auditing market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the accounting and auditing market.
• Segment Contributions: Evaluate how different segments drive overall growth in the accounting and auditing market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the accounting and auditing market.
• Industry Challenges: Identify potential risks and obstacles affecting the accounting and auditing market.
• Competitive Landscape: Review strategic developments in the accounting and auditing market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.