Top Trends in the Global IT Spending Market by Audit Firms | Technavio

LONDON--(BUSINESS WIRE)--#ITspending--Technavio’s latest market research report on the global IT spending market by audit firms provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

According to Technavio analysts, the global IT spending market by audit firms will grow at a CAGR of around 5% during the forecast period. The increased usage of BI software in auditing firms is one of the factors contributing to the growth of the market.

BI software is gaining prominence among auditing firms to turn raw data into useful information. Several auditing firms across the world have shifted to the usage of BI software for accounting purposes. BI supports functions such as revenue generation, financial visibility, fraud detection, financial risk avoidance, and achieving compliance requirements.

Inquire about this report: View market snapshot before purchasing

Register for a My Technavio account and get 10% off your first purchase! View all Technavio’s current offers

The three emerging market trends driving the global IT spending market by audit firms according to Technavio research analysts are:

  • Adoption of big data analytics
  • Adoption of cloud-based IT infrastructure
  • Increased adoption of BYOD

Adoption of big data analytics

Since 2010, many auditing firms have been witnessing the benefits of delivering value to customers using big data. Big data assists auditing firms to increase the speed of implementing auditing process. Big data and intelligent analytics help deliver a higher quality of audit evidence and relevant business insights to the auditing firms.

Auditing firms are handling and interpreting customers’ confidential financial information on a large scale. Big data analytics helps auditing firms to use the unstructured information to gain a better insight of the customer. This provides an opportunity for audit firms to support growth in revenue.

“KPMG is one of the largest auditing firms in the world. KPMG Australia signed a participation agreement with IBM Australia in June 2016 to introduce cognitive technology to audit and assurance services,” says a senior analyst at Technavio for research on IT spending.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Global IT spending market by audit firms segmentation

This market research report segments the global IT spending market by audit firms into the following three product segments (services, software, and hardware) and three major regions (Americas, APAC, and EMEA).

The services segment held the largest market share in 2017, accounting for nearly 63% of the market. IT support services include software and hardware support services. Business IT services include application outsourcing services, infrastructure services, and application development and maintenance services.

The Americas was the leading region for the global IT spending market by audit firms in 2017, accounting for a market share of more than 44%. The Americas is expected to dominate the market throughout the forecast period.

Personalize this report according to your needs: Request a customization

Technavio’s analysts and industry experts will work directly with you to understand your requirements. We offer USD 1,000 worth of FREE customization at the time of purchase.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200