Global Audit Management Software Market 2019-2023

  • Published: May 2019
  • Pages: 111
  • SKU: IRTNTR31270
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The global audit management software market will grow at a CAGR of almost 12% during 2018-2023, and the market size will increase by USD 543.5 million during 2019-2023. The market’s growth momentum is expected to accelerate throughout the forecast period.

North America was the largest market in 2018, and its position will remain the same during 2019-2023. Market growth in this region will be slower than the growth of the market in other geographies. However, 38% of the overall market growth will originate from this region, and the US will offer maximum growth opportunities to market participants.

What will the Audit Management Software Market Size be in 2019?

Global Audit Management Software Market

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Audit software companies offer audit management software both on-premises and on the cloud. The preference for on-premises audit management software was high among consumers in 2018, and this segment’s position will remain unchanged throughout the forecast period. During 2019-2023, the growth rate of the cloud-based audit management software market segment will be faster than the global market growth.

The market is fragmented, and the degree of fragmentation is expected to remain the same till 2023. The accelerating growth will provide immense growth opportunities to market participants. To make the most of the opportunities, audit management software companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

This market report provides a detailed analysis of the market by type (on-premises and cloud) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors including ACL Services Ltd., Ideagen PLC, Lockpath Inc., Wolters Kluwer Financial Services Inc., and Workiva Inc.

How will the Integration of Cognitive Technology Influence Audit Management Software Market Growth?

The integration of cognitive technology-based solutions such as AI with audit management software has enhanced the risk handling capabilities of organizations. AI-enabled audit management software assesses large volumes of data to generate high-quality audit reports based on the organization’s financial structure. This allows organizations to gain valuable data insights which help in analyzing risks, financial reporting controls, and operating environments. The adoption of AI-based audit management software also improves decision-making capabilities, fraud detection, and productivity of the organization. The integration of cognitive technology with audit management software will be one of the critical trends that will positively impact the growth of this audit software market.

The rising benefits of cloud computing and low upfront costs and integration complexities have boosted the popularity of cloud-based audit management software. This software helps in automating the audit process, reduces manual errors and paperwork, and enables the swift resolution of audit issues. The adoption of cloud-based audit management software has also helped enterprises to adopt emerging technologies such as AI, cognitive technology, blockchain, and predictive analytics. Such benefits of cloud-based audit management software are driving its demand among SMEs across industries such as BFSI, manufacturing, retail, IT, and healthcare. This increasing demand for cloud-based audit management software will also contribute to the growth of this market, which will register a CAGR of almost 12% during the forecast period.

Who are the Major Audit Management Software Vendors?

The global audit management software market is fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this audit management software market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

The report offers a detailed analysis of several leading audit management software companies, including:

  • ACL Services Ltd.
  • Ideagen PLC
  • Lockpath Inc.
  • Wolters Kluwer Financial Services Inc.
  • Workiva Inc.

What are the Major Type Segments in the Audit Management Software Market?

  • On-premises
  • Cloud

On-premises audit management software provides more control over the auditing process and eliminates vendor dependency thereby boosting its popularity among end-users. As a result of these benefits, the on-premises audit management software market segment will account for the largest audit management software market share.

Which are the Key Markets for Audit Management Software?

  • APAC
  • Europe
  • MEA
  • North America
  • South America

North America will account for the largest share of the audit management software market throughout the forecast period. The increasing importance of carrying out effective auditing procedures and the growing need to integrate emerging technologies into existing audit management software will drive the growth of this audit software market in North America.

What are the Key Factors Covered in this Audit Management Software Market Report?

  • CAGR of the market during the forecast period 2019-2023
  • Detailed information on factors that will accelerate the growth of the audit management software market during the next five years
  • Precise estimation of the global audit management software market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the audit management software industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on several vendors
  • Comprehensive details of factors that will challenge the growth of audit management software companies

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY TYPE

  • Market segmentation by type
  • Comparison by type
  • On-premises - Market size and forecast 2018-2023
  • Cloud - Market size and forecast 2018-2023
  • Market opportunity by type

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2018-2023
  • Europe - Market size and forecast 2018-2023
  • APAC - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11:  MARKET TRENDS

  • Integration of cognitive technology with audit management software
  • Blockchain audit technology
  • Audit management software with predictive analytics

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • ACL Services Ltd.
  • Ideagen PLC
  • Lockpath Inc.
  • Wolters Kluwer Financial Services Inc.
  • Workiva Inc.

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations

PART 15: EXPLORE TECHNAVIO


Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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