Market Size of US Auditing Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 50.24 Billion |
| Market Size (2029) | USD 59.01 Billion |
| CAGR (2024 - 2029) | 3.27 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Audit Market Analysis
The US Auditing Services Market size is estimated at USD 50.24 billion in 2024, and is expected to reach USD 59.01 billion by 2029, growing at a CAGR of 3.27% during the forecast period (2024-2029).
In recent decades, market consolidation has become a prominent trend, as auditing firms strategically acquire global accounting entities to broaden their service offerings and improve existing auditing services. This trend has led to a notable decrease in the number of global audit firms, consolidating major players into what is commonly referred to as the Big Four.
In the United States, this consolidation is particularly pronounced, where the Big Four accounting firms collectively audit nearly 97% of the total US S&P 500 market capitalization. The concentration is even more pronounced in specific industries, with one or two firms dominating certain sectors. For instance, the leading auditing service provider in the US telecommunications services sector encompasses nearly 92% of the S&P 500 market capitalization. Similar scenarios exist in industries such as energy, materials, and information technology, where the top two service providers control at least 75% of the S&P 500 market capitalization. Recent market drivers and opportunities encompass technological advancements, regulatory changes, and increasing demand for specialized audit services, driving the evolution of the US Auditing Services Market.
