Integration of emerging technologies with audit management software, such as AI, helps generate high-quality reports and features like maintaining accuracy during auditing. Also, the increase in complexities of auditing and report generation for large enterprises fuels the audit management software market growth. In addition, an increase in the adoption of audit management software by various SMEs and the integration of software with cloud-based technology are anticipated to create major opportunities for the market in the coming years. However, use of the spreadsheet-based system for multiple types of auditing, complex business, and data security concerns hamper the growth of the audit management software market.
The key players profiled in the audit management software market analysis are IBM Corporation, SAP SE, Protiviti Inc., ACL Services Ltd., Ideagen PLC, Lockpath Inc., Wolters Kluwer Financial Services Inc., Workiva Inc., MasterControl Inc., and Xactium Limited. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.
The market is segmented into component, deployment mode, organization size, industry vertical, and region. In terms of component, the market is bifurcated into solution and services. By deployment mode it is segmented into on-premise and cloud. As per organization size, it is segmented into large enterprises and small & medium enterprises. As per industry vertical, audit management software market is categorized into BFSI, retail & e-commerce, manufacturing, government & defense, energy & utilities, IT & telecom, education, healthcare and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key drivers that are propelling the growth of the market are included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.
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