IT Spending Market by Audit Firms by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR43662
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The IT spending market by audit firms has the potential to grow by USD 3.14 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 8.52%.

This IT spending market by audit firms research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (IT services, IT software, and IT hardware) and geography (North America, Europe, APAC, South America, and MEA). The IT spending market by audit firms report also offers information on several market vendors, including Accenture Plc, Apple Inc., Capgemini SE, Cisco Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., and SAP SE among others.

What will the IT Spending Market Size by Audit Firms be in 2021?

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IT Spending Market by Audit Firms: Key Drivers and Trends

The increasing adoption of audit management services is notably driving the IT spending growth market by audit firms, although factors such as data security concerns may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the IT spending market by audit firms industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • One of the key factors driving growth in the IT spending by audit firms market is the increasing adoption of audit management services.
  • Many audit firms are adopting audit management software with advanced features such as time-tracking, built-in remediation workflows, and risk assessment methodologies.
  • Cloud-based audit management software is becoming increasingly popular among audit firms due to various benefits such as the low up-front cost of ownership, flexible payment options, and the lack of maintenance overhead costs.
  • Audit firms are investing in adopting audit management software and services, which will support the growth of the global IT spending by audit firms market.
  • The increasing demand for cloud-based audit management software is another major factor supporting the IT spending by audit firms market share growth.
  • The adoption of cloud-based audit management software is increasing among audit firms due to the rising benefits of cloud computing, such as reduced upfront costs, eliminates the requirement computing infrastructure, facilitates real-time remote access to data and services through web portals.
  • Cloud-based audit management software enables easy and secured collaborations with clients and employees via the Internet
  • Audit firms will be able to focus more on their audit processing to improve their efficiency.

This IT spending market by audit firms analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major IT Spending Market Vendors by Audit Firms?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Accenture Plc
  • Apple Inc.
  • Capgemini SE
  • Cisco Systems Inc.
  • Dell Technologies Inc.
  • Fujitsu Ltd.
  • Hewlett Packard Enterprise Co.
  • International Business Machines Corp.
  • Microsoft Corp.
  • SAP SE

 

This statistical study of the IT spending market by audit firms encompasses successful business strategies deployed by the key vendors. The IT spending market by audit firms is fragmented and the vendors are deploying growth strategies such as acquiring smaller and regional players to enhance their global reach to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The IT spending market by audit firms forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for IT Spending Market by Audit Firms?

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35% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for IT spending market by audit firms in North America. Market growth in this region will be slower than the growth of the market in other regions.

Countries such as the US and Canada have strict laws and regulations. This demands the presence of organizations that issue security to the public. This is compelling organizations to produce financial statements that comply with the generally accepted accounting standards, which will facilitate the IT spending market by audit firms growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the IT Spending Market By Audit Firms?

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The IT spending market share growth by audit firms by the IT services segment will be significant during the forecast period. The spending on IT services is growing due to the increasing investments in IT hardware infrastructure and IT software. Audit firms are implementing advanced IT software solutions to modernize their IT infrastructure and to gain a competitive edge in the market. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the IT spending market sie by audit firms and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this IT Spending Market by Audit Firms Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive it spending market by audit firms growth during the next five years
  • Precise estimation of the IT spending market size by audit firms and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the IT spending industry by audit firms across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of IT spending market vendors by audit firms.

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IT Spending Market By Audit Firms Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.52%

Market growth 2021-2025

$ 3.14 billion

Market structure

Fragmented

YoY growth (%)

8.23

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 35%

Key consumer countries

US, Canada, UK, China, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Accenture Plc, Apple Inc., Capgemini SE, Cisco Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., and SAP SE

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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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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The it spending market by audit firms market growth will increase by $2840.02 million during 2019-2024.
The it spending market by audit firms market is expected to grow at a CAGR of 8.05% during 2019-2024.
Technavio has segmented the it spending market by audit firms market by type (IT services, IT software, and IT hardware) and geographic (North America, Europe, APAC, South America, and MEA).
Accenture Plc, Apple Inc., Capgemini Services SAS, Cisco Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., SAP SE are a few of the key vendors in the it spending market by audit firms market.
North America will register the highest growth rate of 34.39% among the other regions. Therefore, the it spending market by audit firms market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the it spending market by audit firms market growth are:
  • Increasing adoption of audit management services
The it spending market by audit firms market vendors should focus on grabbing business opportunities from the it services segment as it accounted for the largest market share in the base year.
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