Market Overview:
The global forensic accounting market is expected to grow at a CAGR of 9.5% from 2018 to 2030. The market growth is attributed to the increasing incidence of white-collar crimes, rising demand for forensic accounting services from small businesses and individuals, and the growing need for risk management solutions. The criminal and fraud investigation segment is expected to account for the largest share of the global forensic accounting market in 2018. This segment is driven by the increasing number of financial frauds and corporate scandals across the globe. The bankruptcy proceedings segment is projected to grow at the highest CAGR during the forecast period owing to an increase in bankruptcies due to economic recessionary conditions across various regions worldwide.
Product Definition:
Forensic accounting is the use of accounting skills for legal purposes. Forensic accountants are often involved in financial investigations and disputes, and may provide expert testimony in court. The importance of forensic accounting lies in its ability to help resolve financial disputes, protect against fraud, and recover lost assets.
Criminal and Fraud Investigation:
Criminal and fraud investigation is the process of gathering evidence to solve a crime or fraudulent act. It involves techniques such as witness interviews, surveillance, financial analysis, physical evidence collection & preservation and electronic data collection & preservation. The information gathered through these investigations can be used in court to obtain an conviction.
Bankruptcy Proceedings:
Bankruptcy proceedings is a legal process in which a company or an individual files for protection from its creditors. Bankruptcy is declared when it becomes clear that the business cannot pay its debts. The main objective of bankruptcy procedure is to give relief to debtors from their obligations so that they can start afresh and carry on with their businesses.
Application Insights:
The large businesses application segment accounted for the largest market share in 2017. The use of forensic accounting techniques to detect and deter frauds, financial crimes and embezzlement is expected to drive the growth of this segment over the forecast period. The government application segment is anticipated to witness significant growth during the forecast period owing to increasing government expenditure on anti-fraud initiatives such as integrity management, which in turn will fuel market demand.
The insurance professionals are expected to adopt a more proactive approach towards fraud detection by using forensic accounting techniques coupled with actuarial science. This combination has led actuaries and underwriters at several companies including Allstate Insurance Company, State Farm Mutual Automobile Insurance Company, Travelers Companies Inc., XL Group (XL Group¢â‚¬â„¢s former subsidiary Esurance Corporation), AIG Financial Products Inc., among others employ an actuary who uses computerized quantitative models along with advanced analytics tools for risk assessment and claims settlement processing activities.
Regional Analysis:
North America dominated the market in terms of revenue share in 2017. The U.S., being a developed economy, has adopted forensic accounting as a part of its regular practice and is expected to continue to do so over the forecast period.
Growth Factors:
- Increasing demand for forensic accounting services from the corporate sector to detect and prevent fraud
- The increasing number of financial scams and white-collar crimes that are being uncovered by forensic accountants
- The increasing use of forensic accounting techniques by regulators and law enforcement agencies to investigate financial crimes
- The growing demand for forensic accounting services from the legal profession to support litigation proceedings
- The increasing use of forensic accounting in bankruptcy and insolvency proceedings
Scope Of The Report
Report Attributes
Report Details
Report Title
Forensic Accounting Market Research Report
By Type
Criminal and Fraud Investigation, Bankruptcy Proceedings, Risk Management
By Application
Large Businesses, Government, Insurance Professionals, Small Businesses, Legal Professionals, Individuals
By Companies
Ernst & Young, PwC, Deloitte, KPMG International, FTI Consulting, Kroll, AlixPartners, Control Risks, K2 Intelligence, Grant Thornton, BDO, Alvarez & Marsal, Nardello, Forensic Risk Alliance (FRA), Charles River Associates, Berkeley Research Group, Hemming Morse
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
203
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Forensic Accounting Market Report Segments:
The global Forensic Accounting market is segmented on the basis of:
Types
Criminal and Fraud Investigation, Bankruptcy Proceedings, Risk Management
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Businesses, Government, Insurance Professionals, Small Businesses, Legal Professionals, Individuals
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Ernst & Young
- PwC
- Deloitte
- KPMG International
- FTI Consulting
- Kroll
- AlixPartners
- Control Risks
- K2 Intelligence
- Grant Thornton
- BDO
- Alvarez & Marsal
- Nardello
- Forensic Risk Alliance (FRA)
- Charles River Associates
- Berkeley Research Group
- Hemming Morse
Highlights of The Forensic Accounting Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Criminal and Fraud Investigation
- Bankruptcy Proceedings
- Risk Management
- By Application:
- Large Businesses
- Government
- Insurance Professionals
- Small Businesses
- Legal Professionals
- Individuals
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Forensic Accounting Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Forensic accounting is the application of accounting principles and practices to legal investigations and litigation. Forensic accountants are responsible for providing accurate financial information during criminal, civil, and administrative proceedings. They use their knowledge of accounting principles to reconstruct events leading up to a financial crisis or fraud.
Some of the major players in the forensic accounting market are Ernst & Young, PwC, Deloitte, KPMG International, FTI Consulting, Kroll, AlixPartners, Control Risks, K2 Intelligence, Grant Thornton, BDO, Alvarez & Marsal, Nardello, Forensic Risk Alliance (FRA), Charles River Associates, Berkeley Research Group, Hemming Morse.
The forensic accounting market is expected to register a CAGR of 9.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Forensic Accounting Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Forensic Accounting Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Forensic Accounting Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Forensic Accounting Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Forensic Accounting Market Size & Forecast, 2018-2028
4.5.1 Forensic Accounting Market Size and Y-o-Y Growth
4.5.2 Forensic Accounting Market Absolute $ Opportunity
Chapter 5 Global Forensic Accounting Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Forensic Accounting Market Size Forecast by Type
5.2.1 Criminal and Fraud Investigation
5.2.2 Bankruptcy Proceedings
5.2.3 Risk Management
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Forensic Accounting Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Forensic Accounting Market Size Forecast by Applications
6.2.1 Large Businesses
6.2.2 Government
6.2.3 Insurance Professionals
6.2.4 Small Businesses
6.2.5 Legal Professionals
6.2.6 Individuals
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Forensic Accounting Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Forensic Accounting Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Forensic Accounting Analysis and Forecast
9.1 Introduction
9.2 North America Forensic Accounting Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Forensic Accounting Market Size Forecast by Type
9.6.1 Criminal and Fraud Investigation
9.6.2 Bankruptcy Proceedings
9.6.3 Risk Management
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Forensic Accounting Market Size Forecast by Applications
9.10.1 Large Businesses
9.10.2 Government
9.10.3 Insurance Professionals
9.10.4 Small Businesses
9.10.5 Legal Professionals
9.10.6 Individuals
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Forensic Accounting Analysis and Forecast
10.1 Introduction
10.2 Europe Forensic Accounting Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Forensic Accounting Market Size Forecast by Type
10.6.1 Criminal and Fraud Investigation
10.6.2 Bankruptcy Proceedings
10.6.3 Risk Management
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Forensic Accounting Market Size Forecast by Applications
10.10.1 Large Businesses
10.10.2 Government
10.10.3 Insurance Professionals
10.10.4 Small Businesses
10.10.5 Legal Professionals
10.10.6 Individuals
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Forensic Accounting Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Forensic Accounting Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Forensic Accounting Market Size Forecast by Type
11.6.1 Criminal and Fraud Investigation
11.6.2 Bankruptcy Proceedings
11.6.3 Risk Management
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Forensic Accounting Market Size Forecast by Applications
11.10.1 Large Businesses
11.10.2 Government
11.10.3 Insurance Professionals
11.10.4 Small Businesses
11.10.5 Legal Professionals
11.10.6 Individuals
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Forensic Accounting Analysis and Forecast
12.1 Introduction
12.2 Latin America Forensic Accounting Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Forensic Accounting Market Size Forecast by Type
12.6.1 Criminal and Fraud Investigation
12.6.2 Bankruptcy Proceedings
12.6.3 Risk Management
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Forensic Accounting Market Size Forecast by Applications
12.10.1 Large Businesses
12.10.2 Government
12.10.3 Insurance Professionals
12.10.4 Small Businesses
12.10.5 Legal Professionals
12.10.6 Individuals
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Forensic Accounting Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Forensic Accounting Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Forensic Accounting Market Size Forecast by Type
13.6.1 Criminal and Fraud Investigation
13.6.2 Bankruptcy Proceedings
13.6.3 Risk Management
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Forensic Accounting Market Size Forecast by Applications
13.10.1 Large Businesses
13.10.2 Government
13.10.3 Insurance Professionals
13.10.4 Small Businesses
13.10.5 Legal Professionals
13.10.6 Individuals
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Forensic Accounting Market: Competitive Dashboard
14.2 Global Forensic Accounting Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ernst & Young
14.3.2 PwC
14.3.3 Deloitte
14.3.4 KPMG International
14.3.5 FTI Consulting
14.3.6 Kroll
14.3.7 AlixPartners
14.3.8 Control Risks
14.3.9 K2 Intelligence
14.3.10 Grant Thornton
14.3.11 BDO
14.3.12 Alvarez & Marsal
14.3.13 Nardello
14.3.14 Forensic Risk Alliance (FRA)
14.3.15 Charles River Associates
14.3.16 Berkeley Research Group
14.3.17 Hemming Morse
