Market Highlights

Statistical surveying Future (MRFR) projects the global forensic accounting market to arrive at USD 8.85 billion at a 8.2% CAGR from 2020 to 2027 (figure period).

Expanding Need for Tools that Provide End-to-End Investigative Solutions

Merchants in this industry furnish scientific specialists with an incorporated programming suite, toolboxs, and administrations. AccessData, for instance, gives a scientific tool stash that empowers quicker look and considerably quicker investigation. Also, ACL Services Ltd gives review examination and checking programming to help agents in inspecting and overseeing monetary information. An assortment of end-clients, including monetary associations, insurance agencies, and bookkeeping firms, have utilized such programming to perform compelling examinations. For instance, Grant Thornton Forensic Services B.V., a worldwide bookkeeping, expense, and consultancy firm, utilized AccessData's legal tool compartment to do its examination activities easily. Likewise, a few different examiners are successfully investigating monetary tricks using an assortment of mechanical devices and arrangements. Regardless of the main impetuses that are expanding the market, a couple of elements are additionally obstructing the business' development. The utilization of unreservedly accessible devices by examiners is one such component. These devices are unreservedly accessible on the web, and examiners in little and medium-sized organizations as often as possible use them.

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Segmentation:

The global forensic accounting industry has been segmented on the basis of components and end-user.

Based on the component, the global forensic accounting market has been segmented into solutions and services. The solution segment consists of forensic tools/software, audit/accounting software, and others. The services segment consists of additional professional services offered by the solution providers. These services involve training, consulting, and support services.

Based on end-user, the global forensic accounting market has been segmented into banking and insurance, law enforcement agencies, government, accounting firms, and others.

Regional Analysis

North America to Lead the Global Market

In terms of market share, North America dominates the forensic accounting market. High adoption of such tools and software by various government agencies and accounting companies is one of the reasons driving market expansion. Furthermore, due to the existence of a number of vendors in North America offering comprehensive solutions to organizations, North America has the largest market share.

Europe to Follow North America

Europe comes in second place in the market. Europe is divided into the United Kingdom, Germany, France, Spain, Italy, and the rest of Europe. The UK is expected to obtain the most market share, followed by Germany and France, according to the MRFR report. The increased demand for effective investigation is the primary element driving the region's market expansion.

Key Players

Notable players of the global forensic accounting industry are Galvanize, CaseWare IDEA, Passware, Fulcrum Management, Nuix, Arbutus Software Inc., Cygna Labs Corp, e-fense, OpenText, Cellebrite, Sama Audit Systems & Software Pvt Ltd, and AccessData.

Industry News

In June 2019, IGP Capital agreed to invest USD 110 million in Cellebrite Mobile Synchronization Ltd, a provider of digital intelligence solutions to law enforcement, government, and enterprise industries.

In August 2019, Felician University and Cellebrite teamed to provide two courses, Introduction to Mobile Forensics and Mobile Forensic Data Analysis, to provide veterans with crucial skills for their cybersecurity and digital intelligence tasks.

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Forensic Accounting Market Research Report: By Component (Solution- Forensic Tools/Software, Audit/Accounting software) Services), By End-user (Banking and Insurance, Law Enforcement Agencies, Government, Accounting Firm, Others) By Region - Forecast till 2027

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