Auditing Services Market size to grow at a CAGR of 5.32% from 2022 to 2027, Market is segmented by service, type, and geography - Technavio

NEW YORK, May 15, 2023 /PRNewswire/ -- The auditing services market is estimated to grow by USD 95 billion from 2022 to 2027. However, the growth momentum will progress at a CAGR of 5.32% during the forecast period. The market is segmented by service (assurance, tax, and advisory), type (external and internal), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The assurance segment will be significant during the forecast period. Assurance services are defined as independent professional services, which are usually provided by certified public accountants with the purpose of improving the information or the context of the information so that the decision-makers can make presumably better decisions. Demand for efficient business processes is a major driving factor for the growth of the global auditing services market. Companies must continuously improve their processes, to be competitive and successful. Failing to do so can adversely impact their revenues and result in problems such as higher costs, less motivated employees, and fewer satisfied customers. Increasing pressure on business leaders to improve business processes, increase productivity and quality while reducing costs is expected to be a factor driving the adoption of audit services during the forecast period. Download a Sample Report in Minutes!

Auditing Services Market Insights -

• Vendors: 15+, Including Baker Tilly International Ltd., BDO International Ltd., CBIZ Inc., CliftonLarsonAllen LLP, CohnReznick LLP, Crowe LLP, Deloitte Touche Tohmatsu Ltd., Eide Bailly LLP, Ernst and Young Global Ltd., Evelyn Partners Group Ltd., Grant Thornton International Ltd., JPMorgan Chase and Co., KPMG International Ltd., Mazars Group, Moore Global Network Ltd., Nexia International Ltd., Plante and Moran PLLC, PricewaterhouseCoopers LLP, Robert Half International Inc., and RSM International Ltd. among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Service (Assurance, Tax, and Advisory), Type (External and Internal), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

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Auditing services market - Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including Baker Tilly International Ltd., BDO International Ltd., CBIZ Inc., CliftonLarsonAllen LLP, CohnReznick LLP, Crowe LLP, Deloitte Touche Tohmatsu Ltd., Eide Bailly LLP, Ernst and Young Global Ltd., Evelyn Partners Group Ltd., Grant Thornton International Ltd., JPMorgan Chase and Co., KPMG International Ltd., Mazars Group, Moore Global Network Ltd., Nexia International Ltd., Plante and Moran PLLC, PricewaterhouseCoopers LLP, Robert Half International Inc., and RSM International Ltd.

Auditing Services Market – Market Dynamics

Major Trends - 

• Proper management of inventory systems and working capital is a major trend in the enterprise indoor global auditing services market. 
• Inventory management has improved over the past five years, which resulted in increased cash flow and improved working capital management. Inventory is critical to the balance sheet of any business unit.
• For instance, if a business wants to avoid losses, it must maintain sufficient inventory to meet demand.
• Resultantly, businesses focus on maintaining ideal inventory levels by establishing systems that leverage numerous internal processes to properly manage and maintain inventory.
• Hence, such trends influence the market growth of global auditing services during the forecast period.

Key challenges - 

• The high cost and maintenance of auditing services is a major challenge hindering the growth of the global auditing services market. 
• Auditing is considered an expensive process, which requires the implementation of various measures to ensure compliance.
• The measures include subcontracting certain areas, engaging external audit firms, and continuously monitoring the results.
• The auditing services costs can reach a point where implementing the process frequently may become impossible.
• For example, nonprofit audits may cost somewhere from USD 10,000 for small nonprofits to around USD 20,000 for large foundations.
• Experts need to maintain the auditing of any organization or business.
• Hence, the high cost and maintenance of auditing services are expected to negatively impact the growth of the global auditing services market during the forecast period.

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The auditing services market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this Auditing Services Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the auditing services market between 2023 and 2027
• Precise estimation of the size of the auditing services market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the auditing services market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of the auditing services market vendors

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Table of Contents: 

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global auditing services market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global auditing services market 2017 - 2021 ($ billion)

• 4.2 Service Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Service Segment 2017 - 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Service

• 6.1 Market segments 
• Exhibit 30: Chart on Service - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Service - Market share 2022-2027 (%)

• 6.2 Comparison by Service 
• Exhibit 32: Chart on Comparison by Service
• Exhibit 33: Data Table on Comparison by Service

• 6.3 Assurance - Market size and forecast 2022-2027
• Exhibit 34: Chart on Assurance - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Assurance - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Assurance - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Assurance - Year-over-year growth 2022-2027 (%)

• 6.4 Tax - Market size and forecast 2022-2027
• Exhibit 38: Chart on Tax - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Tax - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Tax - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Tax - Year-over-year growth 2022-2027 (%)

• 6.5 Advisory - Market size and forecast 2022-2027
• Exhibit 42: Chart on Advisory - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Advisory - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Advisory - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Advisory - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Service 
• Exhibit 46: Market opportunity by Service ($ billion)
• Exhibit 47: Data Table on Market opportunity by Service ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 48: Chart on Type - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 50: Chart on Comparison by Type
• Exhibit 51: Data Table on Comparison by Type

• 7.3 External - Market size and forecast 2022-2027
• Exhibit 52: Chart on External - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on External - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on External - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on External - Year-over-year growth 2022-2027 (%)

• 7.4 Internal - Market size and forecast 2022-2027
• Exhibit 56: Chart on Internal - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Internal - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Internal - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Internal - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 60: Market opportunity by Type ($ billion)
• Exhibit 61: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027
• Exhibit 91: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 103: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ billion)
• Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Baker Tilly International Ltd. 
• Exhibit 115: Baker Tilly International Ltd. - Overview
• Exhibit 116: Baker Tilly International Ltd. - Business segments
• Exhibit 117: Baker Tilly International Ltd. - Key offerings
• Exhibit 118: Baker Tilly International Ltd. - Segment focus

• 12.4 BDO International Ltd. 
• Exhibit 119: BDO International Ltd. - Overview
• Exhibit 120: BDO International Ltd. - Business segments
• Exhibit 121: BDO International Ltd. - Key offerings
• Exhibit 122: BDO International Ltd. - Segment focus

• 12.5 CBIZ Inc. 
• Exhibit 123: CBIZ Inc. - Overview
• Exhibit 124: CBIZ Inc. - Business segments
• Exhibit 125: CBIZ Inc. - Key offerings
• Exhibit 126: CBIZ Inc. - Segment focus

• 12.6 CliftonLarsonAllen LLP 
• Exhibit 127: CliftonLarsonAllen LLP - Overview
• Exhibit 128: CliftonLarsonAllen LLP - Product / Service
• Exhibit 129: CliftonLarsonAllen LLP - Key offerings

• 12.7 CohnReznick LLP 
• Exhibit 130: CohnReznick LLP - Overview
• Exhibit 131: CohnReznick LLP - Product / Service
• Exhibit 132: CohnReznick LLP - Key offerings

• 12.8 Crowe LLP 
• Exhibit 133: Crowe LLP - Overview
• Exhibit 134: Crowe LLP - Product / Service
• Exhibit 135: Crowe LLP - Key offerings

• 12.9 Deloitte Touche Tohmatsu Ltd. 
• Exhibit 136: Deloitte Touche Tohmatsu Ltd. - Overview
• Exhibit 137: Deloitte Touche Tohmatsu Ltd. - Business segments
• Exhibit 138: Deloitte Touche Tohmatsu Ltd. - Key offerings
• Exhibit 139: Deloitte Touche Tohmatsu Ltd. - Segment focus

• 12.10 Eide Bailly LLP 
• Exhibit 140: Eide Bailly LLP - Overview
• Exhibit 141: Eide Bailly LLP - Product / Service
• Exhibit 142: Eide Bailly LLP - Key offerings

• 12.11 Ernst and Young Global Ltd. 
• Exhibit 143: Ernst and Young Global Ltd. - Overview
• Exhibit 144: Ernst and Young Global Ltd. - Product / Service
• Exhibit 145: Ernst and Young Global Ltd. - Key offerings

• 12.12 Grant Thornton International Ltd.
• Exhibit 146: Grant Thornton International Ltd. - Overview
• Exhibit 147: Grant Thornton International Ltd. - Business segments
• Exhibit 148: Grant Thornton International Ltd. - Key offerings
• Exhibit 149: Grant Thornton International Ltd. - Segment focus

• 12.13 KPMG International Ltd. 
• Exhibit 150: KPMG International Ltd. - Overview
• Exhibit 151: KPMG International Ltd. - Business segments
• Exhibit 152: KPMG International Ltd. - Key news
• Exhibit 153: KPMG International Ltd. - Key offerings
• Exhibit 154: KPMG International Ltd. - Segment focus

• 12.14 Nexia International Ltd. 
• Exhibit 155: Nexia International Ltd. - Overview
• Exhibit 156: Nexia International Ltd. - Product / Service
• Exhibit 157: Nexia International Ltd. - Key offerings

• 12.15 Plante and Moran PLLC 
• Exhibit 158: Plante and Moran PLLC - Overview
• Exhibit 159: Plante and Moran PLLC - Product / Service
• Exhibit 160: Plante and Moran PLLC - Key offerings

• 12.16 PricewaterhouseCoopers LLP 
• Exhibit 161: PricewaterhouseCoopers LLP - Overview
• Exhibit 162: PricewaterhouseCoopers LLP - Product / Service
• Exhibit 163: PricewaterhouseCoopers LLP - Key offerings

• 12.17 RSM International Ltd. 
• Exhibit 164: RSM International Ltd. - Overview
• Exhibit 165: RSM International Ltd. - Product / Service
• Exhibit 166: RSM International Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 167: Inclusions checklist
• Exhibit 168: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 169: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 170: Research methodology
• Exhibit 171: Validation techniques employed for market sizing
• Exhibit 172: Information sources

• 13.5 List of abbreviations 
• Exhibit 173: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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