The process audit services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Process Audit Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The process audit services market size has grown strongly in recent years. It will grow from $23.34 billion in 2023 to $24.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to regulatory compliance requirements, quality improvement initiatives, operational efficiency goals, risk management focus, performance measurement and benchmarking.
The process audit services market size is expected to see strong growth in the next few years. It will grow to $31.40 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rise of digital transformation initiatives, emphasis on sustainability and ESG practices, adoption of agile auditing methodologies, increasing demand for remote auditing solutions, growing focus on cybersecurity audits. Major trends in the forecast period include expansion of digital audit solutions, emergence of sustainable audit practices, agile audit methodologies adoption, remote audit services growth, focus on cybersecurity audit capabilities.
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Scope Of Process Audit Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Process Audit Services Market Overview
Market Drivers –
The rise of digital transformation initiatives is expected to propel the growth of the process audit services market going forward. Digital transformation initiatives refer to strategic efforts undertaken by organizations to leverage digital technologies, processes, and capabilities to change how they operate fundamentally, deliver value to customers, and remain competitive in the digital age. Digital transformation initiatives are rising due to organizations’ need to adapt to rapidly evolving technological landscapes and consumer preferences. Digital transformation initiatives enhance process audit services by integrating advanced digital technologies to streamline operations, improve data accuracy, and ensure compliance with evolving regulatory standards. For instance, in January 2024, according to a survey of 100 employees conducted by International Business Machines Corporation, a US-based technology company, 42% of IT professionals at large organizations reported actively using AI, while 40% were exploring its possibility. Further, 38% of IT professionals are actively using generative AI, and 42% are exploring it. Therefore, the rise of digital transformation initiatives is driving the growth of the process audit services market.
Market Trends –
Major companies operating in the personal and entry-level storage market are developing products with advanced technologies, such as the Hitachi virtual storage platform, to manage their data effectively. Hitachi virtual storage platform one is a hybrid cloud data platform is a unified hybrid storage platform that simplifies data management across various storage environments, including block, file, object, and mainframe data. For instance, in October 2023, Hitachi Ltd., a Japan-based conglomerate company organization, launched the Hitachi virtual storage platform to address the challenges faced by IT leaders in scaling data and modernizing applications across complex hybrid and multi-cloud infrastructures. It features a single control plane, data fabric, and data plane managed by AI-enabled software to unify separate data silos. This platform’s design focuses on reliability, security, and sustainability, enhancing its impact on customers with varying data storage needs, including those at the personal and entry-level storage scale.
The process audit services market covered in this report is segmented –
1) By Type: Series Process Audit Service, Parallel Process Audit Service
2) By Application: Individual Processes, Public Processes
3) By End User: Banking, Financial Services And Insurance (BFSI), Government, Manufacturing, Healthcare, Retail And Consumer, Information Technology And Communications
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Regional Insights –
North America was the largest region in the process audit services market in 2023. The regions covered in the process audit services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the process audit services market are Amazon.com Inc, Accenture plc, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, KPMG International Limited, Capgemini SE, BDO Global, Nexia International, Baker Tilly International, RSM International, Mazars LLP, PKF International, Grant Thornton International, Protiviti Inc., Crowe Global, Marcum LLP, Expertise Accelerated, Armanino, Mynd Solution, RKL eSolutions, SAAVHA Inc, JS Morlu LLC, Ermetic, Meru Accounting
Table of Contents
1. Executive Summary
2. Process Audit Services Market Characteristics
3. Process Audit Services Market Trends And Strategies
4. Process Audit Services Market – Macro Economic Scenario
5. Global Process Audit Services Market Size and Growth
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32. Global Process Audit Services Market Competitive Benchmarking
33. Global Process Audit Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Process Audit Services Market
35. Process Audit Services Market Future Outlook and Potential Analysis
36. Appendix
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