What Is The Projected Market Size Of The Audit Management Software Market?
The audit management software market size has rapidly expanded in recent years, growing from $1.71 billion in 2024 to an impressive $1.92 billion in 2025, marked by a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to a rise in audits and inspections, data security concerns, globalization of businesses, quality management standards, increased complexity of business operations, internal control requirements, and demand for real-time reporting.
The forecast predicts even faster growth for the audit management software market. By 2029, the market is expected to reach $3.39 billion, growing at a CAGR of 15.3%. This surge in growth can be attributed to the rising demand for mobile auditing solutions, continuous monitoring requirements, a focus on vendor risk management, an evolving regulatory landscape, and integration with other enterprise systems. Major trends in this period include a shift to cloud-based solutions, focus on data analytics and AI, collaborative and remote auditing, automation of routine audit tasks, user-friendly interfaces and dashboards, and enhanced security features.
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What Are The Major Drivers Of The Audit Management Software Market?
The growth of the audit management software market is substantially driven by the increasing demand for cloud services. Cloud services offer a wide range of on-demand computing resources and applications available over the Internet. Cloud-based audit management software provides businesses with scalable solutions that easily adapt to increasing data requirements without the need for substantial infrastructure investment. This flexibility allows organizations to cope with their expanding audit requirements as they grow, leading to the increased demand for cloud-based solutions.
What Is The Market Segmentation Of The Audit Management Software Market?
1) By Component: Solution, Services
2) By Deployment Mode: On-Premise, Cloud
3) By Organization Size: Large Enterprises, Small And Medium Enterprises
4) By Industry Vertical: BFSI, Retail and E-commerce, Manufacturing, Government and Defense, Energy and Utilities, IT and Telecom, Education, Healthcare, Other Industries
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Who Are The Major Players In The Audit Management Software Market?
Major companies operating in the audit management software market include ACL Services Limited, MasterControl Inc., Wolters Kluwer NV, The International Business Machines Corporation, Thomson Reuters Corporation, SAP SE, Protiviti Inc., RiskLogix Solutions Limited, Workiva Inc., ComplianceBridge Corporation, SAI Global Pty. Limited, TRONIXSS, Ideagen PLC, Lockpath Inc., AuditBoard Inc., Siemens AG, Alteryx Inc., Syntelic Solutions Corporation, Hitachi Limited, Conduent Inc., Oracle Corporation, Envista LLC, Thales Group, Xactium Limited, MetricStream Inc., Resolver Inc., AuditFile Inc., AuditSoft Inc., AuditWare Development Company Inc., Workrunner Inc.
What Are The Emerging Trends In The Audit Management Software Market?
Companies operating in the audit management software market are incorporating AI assistants into their products to strengthen their positions. For instance, KPMG International Limited, a Netherlands-based accounting services company, launched generative artificial intelligence (AI) to its tax professionals in July 2023. This allowed professionals access to ChatGPT as a ‘virtual assistant’ for tasks such as gathering tax data and preparing reports on global tax obligations.
Which Region Dominates The Audit Management Software Market?
In 2024, North America was the largest region in the audit management software market. Other regions covered in the audit management software market report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does The Audit Management Software Market Report 2025 Offer?
The audit management software refers to software used to simplify the process of planning, scheduling, and carrying out audits. Supporting all types of audits, audit management software easily tailors how the information is sent and viewed by key personnel, management, and other authorized users. The Audit Management Software Market research report from The Business Research Company offers insights into global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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