Market Research Future Insights
According to MRFR analysis, the global Forensic Accounting market is expected to register a CAGR of 8.30% from 2023 to 2030 and hold a value of over USD 11.06 billion in the year 2032.
Forensic accounting is the application of accounting and auditing techniques to investigate financial crimes or disputes. It involves analyzing financial data and transactions to uncover fraud, embezzlement, and other financial crimes. The global forensic accounting market is expected to grow significantly in the coming years due to the increasing incidence of financial crimes and the growing demand for forensic accounting services. The COVID-19 pandemic has had a significant impact on the forensic accounting market. As businesses around the world face financial difficulties, there has been an increase in financial crimes such as fraud, embezzlement, and money laundering. This has led to a greater demand for forensic accounting services to investigate these crimes and recover lost assets. Additionally, the pandemic has led to a rise in cybercrime, which has further increased the demand for forensic accounting services.
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Key players
Some of the key market players are,
CaseWare IDEA Arbutus Software Inc
Fulcrum Management
Nuix Cygna Labs
Passware
OpenText Cellebrite Sama Audit Systems & Software Pvt Ltd
Corp e-fense
AccessData
Market Segmentation
The Global forensic accounting market has been segmented into application and end-user.
Based on application: The market is divided into solutions and services based on the application. This category of solutions includes forensic tools and software, auditing and accounting software, and other associated goods and services.
Based on end-user: The market is divided into banking and insurance, government, law enforcement, accounting firms, and other sectors based on the types of propulsion.
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Regional Analysis
The global forensic accounting market is segmented by region, with North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa being the major regions. North America is the largest market for forensic accounting, accounting for a significant share of the market. The region has a well-established legal system and a large number of regulatory bodies that require forensic accounting services. Europe is also a significant market for forensic accounting, with countries such as the UK, Germany, and France being major contributors to the market. Asia Pacific is expected to be the fastest-growing market for forensic accounting due to the increasing incidence of financial crimes and the growing demand for forensic accounting services in the region.
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