The analysts forecast global IT spending market by audit firms to grow at a CAGR of 5.15% during the period 2018-2022. The latest trend gaining momentum in the market is the adoption of cloud-based IT infrastructure.
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Many audit firms are outsourcing their network maintenance and application updates to the cloud hosting companies such as Right Networks and IV Desk.
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Some of these auditing firms host their applications through accounting applications that are offered by various providers such as CCH (a Wolters Kluwer business). Such firms are also focusing on the maintenance of their own network environment with an internal IT personnel due to the rising security threat in the IT sector.
Major key players in the global IT spending market by audit firms: Cisco, Dell, IBM, Microsoft, Accenture, AuditDashboard, Apple, Capegemini, Cisco, Cognizant, Fujitsu, HCL Technologies, HP, Infosys, IVDesk, LockPath, NTT Data, Oracle, Right Networks, Samsung, SAP, TCS, and 360factors.
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According to the IT Spending Market by Audit Firms report, one of the major drivers for this market is increased application of BI software in auditing firms. A large number of auditing firms use BI software for accounting purposes because it helps them to turn raw data into useful information.
BI software supports functions such as reporting, analytics, and data management. Auditing firms will continue to adopt this software for various functions such as revenue generation, financial visibility, fraud detection, financial risk avoidance, and achieving.
Market driver: Increased application of bi software in auditing firms
Market trend: The adoption of cloud-based IT infrastructure
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Key questions answered in this report
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
Few Points from List of Exhibits:
Exhibit 1: Parent Market
Exhibit 2: Global It Spending Market
Exhibit 3: Market Characteristics
Exhibit 4: Market Segments
Exhibit 5: Market Definition - Inclusions and Exclusions Checklist
Exhibit 6: Market Size 2017
Exhibit 7: Validation Techniques Employed For Market Sizing 2017
Exhibit 8: Global - Market Size and Forecast 2017-2022 ($ Bn)
Exhibit 9: Global - Year-Over-Year Growth 2018-2022 (%)
Exhibit 10: Five Forces Analysis 2017
Exhibit 11: Five Forces Analysis 2022
Exhibit 12: Bargaining Power of Buyers
Exhibit 13: Bargaining Power of Suppliers
Exhibit 14: Threat of New Entrants
Exhibit 15: Threat of Substitutes
Exhibit 16: Threat of Rivalry
Exhibit 17: Market Condition - Five Forces 2017
Exhibit 18: Market Condition - Five Forces 2022
Exhibit 19: Product - Market Share 2017-2022 (%)
Exhibit 20: Comparison by Product