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DUBLIN--(BUSINESS WIRE)--Nov 9, 2022--
The "Forensic Accounting Market By Component, By Deployment Model, By Enterprise Size, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the forensic accounting market size was valued at $5.13 billion in 2021, and is estimated to reach $11.68 billion by 2031, growing at a CAGR of 8.8% from 2022 to 2031.
Forensic accounting is the analysis of financial records in preparation for or as a result of litigation. The outcomes of a forensic accounting investigation can be used as evidence in court, and hence financial forensic investigations are usually heavily documented.
Rise in demand for work from home and remote working policies during the period of the COVID-19 pandemic led to growth of global remote and automated accounting solutions during the period, hence empowering demand for forensic accounting solutions. Moreover, with sudden economic imbalance and large corporations increasing their market share during the period positively impacted the need for forensic accounting solutions.
However, data privacy and sharing risks associated with forensic accounting solutions and services hamper the forensic accounting market growth. On the contrary, integration of advanced tools such as machine learning and data analytics with forensic accounting solutions suites are expected to offer remunerative opportunities for expansion of the forensic accounting market during the forecast period.
Forensic accounting is the analysis of financial records in preparation for or as a result of litigation. The outcomes of a forensic accounting investigation can be used as evidence in court, and hence financial forensic investigations are usually heavily documented.
Rise in demand for work from home and remote working policies during the period of the COVID-19 pandemic led to growth of global remote and automated accounting solutions during the period, hence empowering demand for forensic accounting solutions. Moreover, with sudden economic imbalance and large corporations increasing their market share during the period positively impacted the need for forensic accounting solutions.
However, data privacy and sharing risks associated with forensic accounting solutions and services hamper the forensic accounting market growth. On the contrary, integration of advanced tools such as machine learning and data analytics with forensic accounting solutions suites are expected to offer remunerative opportunities for expansion of the forensic accounting market during the forecast period.
Key Benefits
Key Market Segments
By Component
By Deployment Model
By Enterprise Size
By Industry Vertical
By Region
Key Market Players
For more information about this report visit https://www.researchandmarkets.com/r/h1mf5a
View source version on businesswire.com:https://www.businesswire.com/news/home/20221109005512/en/
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KEYWORD:
INDUSTRY KEYWORD: ACCOUNTING PROFESSIONAL SERVICES
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/09/2022 04:25 AM/DISC: 11/09/2022 04:25 AM
http://www.businesswire.com/news/home/20221109005512/en