DUBLIN, Dec. 03, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/zrq953/global_it) has announced the addition of the "Global IT Spending by Audit Firms 2015-2019" report to their offering.
The market research analysts predict the global IT spending by audit firms will witness a steady growth face, reaching over USD 5 billion dollars in revenues by 2019. As audit firms continuously seek options for sustaining the highly expanding competitive environment, analytical capabilities will be a key enabler for achieving the same.
According to the report, businesses are witnessing increasing growth in the application of ERP and AIS. Auditors must gather and assess evidence to ensure that AIS is correctly processing business transactions. Also, they must ensure that AIS is maintaining the accuracy, integrity, and validity of the information which is critical to the business. Thus, there is an increase in complexity of clients' AIS.
In-depth market forecast and segmentation analysis of the global IT spending by audit firms according to services, software, and hardware. The market is further analyzed according to the geographical segmentation that outlines the market shares for APAC, Americas, and the EMEA regions. Key market players analyzed in this research report include ITACL, CaseWare, IBM, and SAP.
The audit market is highly concentrated and dominated by the big four firms, including Deloitte, E&Y, KPMG, and PwC. But, mandatory auditor tendering and rotation reforms by various regulators across the globe has led to the entry of several audit firms in this market. Big Four firms are slowly losing their market share as these firms further intensify the competition. Also, audit services are highly regulated and commoditized, thereby reducing differentiation opportunities for audit firms. It is leading to the increased adoption of information technology by audit firms to provide differentiation in their offerings.
The service segment constitutes the largest revenue contributor of the global IT spending in audit firms. This research report estimates the market recorded close to at USD 2.5 billion in revenues in 2014. It comprises professional services that include consulting, development & integration services, process management, and other support services.
Vendor landscape of global IT spending by audit firms
The Middle East region offers huge opportunities for IT solution and service providers because the region is still in its early stage. The leading market vendors will look to capitalize on the tremendous scope the market offers for technology adoption from audit firms operation out of this region.
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by category
Part 07: Geographical segmentation
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Key vendor analysis
Part 15: Appendix
For more information visit http://www.researchandmarkets.com/research/zrq953/global_it
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SOURCE Research and Markets