The social 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.
Social 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 social audit services market size has grown rapidly in recent years. It will grow from $14.11 billion in 2023 to $16.49 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to shift towards environment friendly alternatives, focus on getting social recognized certifications to raise business growth, growing investments in corporate social responsibility (CSR) programs, rising concerns over climatic variations due to varied industrial operations, and increasing investment in improving workplace.
The social audit services market size is expected to see rapid growth in the next few years. It will grow to $31.07 billion in 2028 at a compound annual growth rate (CAGR) of 17.2%. The growth in the forecast period can be attributed to the growing need for quality management services, growing corporate spending auditing, implementation of corporate social responsibility (CSR) programs across industries, the growing shift towards extending social as well as environmental responsibilities under business goals, and rise in occupational safety standards. Major trends in the forecast period include advancements with technology, enhancing public relations, increasing business profits, gaining customer base, and innovative launches.
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Scope Of Social 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.
Social Audit Services Market Overview
Market Drivers –
The growing corporate social responsibility is expected to propel the growth of the social audit services market going forward. Corporate social responsibility refers to a company’s commitment to operate ethically and socially responsibly. The growing social corporate responsibility is due to awareness of the corporate culture, employee attraction, retention, and reputation management. Social audit services help ensure that CSR initiatives are effective, transparent, and aligned with broader social and environmental objectives. Social audits provide a systematic assessment of a company’s CSR practices, evaluating how well its activities align with its stated CSR goals and commitments and identifying strengths and areas for improvement. For instance, in 2023, according to the Nonprofits Source, a US-based non-profit organization, corporate giving increased from $20.77 billion in 2021 to $29.48 billion in 2022. Therefore, growing corporate social responsibility is driving the growth of the social audit services market.
Market Trends –
Major companies operating in the social audit services market are focused on developing innovative solutions, such as social audit systems for farmers, to enhance transparency, improve compliance with social and environmental standards, and provide more accurate and actionable insights for stakeholders. Social audit systems for farmers focus on evaluating and enhancing the social, ecological, and economic aspects of agricultural practices. These systems aim to ensure that farming activities are conducted ethically, sustainably, and in a manner that benefits the farmers and their communities. For instance, in December 2022, Krishi Bhavan, an India-based agriculture development department and farmers’ welfare company, launched a social audit system to address farmer complaints more efficiently. The new system aims to expedite the complaint redressal process by engaging the community in monitoring and evaluating the department’s performance. This collaborative approach is expected to enhance transparency and accountability in the department’s functioning.
The social audit services market covered in this report is segmented –
1) By Audit Type: Social And Quality Management, Occupational Health And Fire Safety, Ethical Trading, Social Impact Assessment, Corporate Social Responsibility, Climatic Change Assessment, Anti-Corruption Audits, Other Audit Types
2) By Application: Large Enterprises, Small And Medium Sized Enterprises
3) By End-Users: Food And Beverage, Oil And Gas, Apparels And Footwear Industry, Industrial Machinery, Banking, Financial Services And Insurance (BFSI), Retail, Telecom, Power Generation, Mining, Other End-Users
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Regional Insights –
Asia-Pacific was the largest region in the social audit services market in 2023. The regions covered in the social audit services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the social audit services market are Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, Ernst & Young Global Limited, KPMG International Limited, BDO International Ltd., RSM International, Grant Thornton International Ltd., Baker Tilly International, Moore Global Network Limited, Intertek Group PLC, Marcum LLP, Forvis Mazars Group, TUV Nord AG, DQS CFS GmbH, Wipfli LLP, Sikich LLP, HQTS Group Ltd., Dixon Hughes Goodman LLP, SCS Global Services Inc., TÜV Rheinland AG, SGS Group, CSR Company International< /b>
Table of Contents
1. Executive Summary
2. Social Audit Services Market Report Structure
3. Social Audit Services Market Trends And Strategies
4. Social Audit Services Market – Macro Economic Scenario
5. Social Audit Services Market Size And Growth
…..
27. Social Audit Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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