Market Size of Forensic Accounting Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 6.30 Billion |
| Market Size (2029) | USD 8.55 Billion |
| CAGR (2024 - 2029) | 6.29 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Forensic Accounting Market Analysis
The Forensic Accounting Market size is estimated at USD 6.30 billion in 2024, and is expected to reach USD 8.55 billion by 2029, growing at a CAGR of 6.29% during the forecast period (2024-2029).
Forensics is the global market for detecting and preventing fraud, misconduct, and other anomalies. Forensics uses accounting, investigation, and legal skills to analyze financial records, detect fraud, and provide legal evidence. Global economic crime and fraud are a significant concern. Companies increasingly use forensic accounting services to prevent financial negligence, fraud, money laundering, and corruption threats. Forensic accountants assist companies in detecting fraud, analyzing financial information, and testifying in court.
The demand for work "from home" and "remote working" policies increased during the pandemic, increasing the demand for global remote and automatic accounting solutions. In addition, the sudden economic downturn and the rise in large corporations' market share positively affected the demand for forensics. However, the need for data privacy and sharing risks that come with forensics solutions and services limit the growth of the forensics market. On the other hand, integrating cutting-edge tools like machine learning and big data analytics with forensics solutions suites is expected to provide lucrative growth opportunities for the forensics market during the next few years.
Businesses increasingly rely on forensic accounting to protect their finances from financial negligence, fraudulent activities, money laundering, and corruption risks. Forensic accountants help companies detect fraud, analyze financial data, and testify in court.
