Global IT Spending Market by Audit Firms 2018-2022
About IT Spending
IT can be defined as an integrated platform, consisting of hardware, software, and services. IT enables the smooth flow of information in an organization by managing IT-related services, software, and solutions and by integrating and streamlining them within the firm. IT is required to develop a secure cyber environment, maintain a uniform flow of information, and increase the revenue generation of an organization over an extended period. It also helps organizations to align their business processes with various technologies and improve overall efficiency.
Technavio’s analysts forecast the global IT spending market by audit firms to grow at a CAGR of 5.15% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global IT spending market by audit firms for 2018-2022. To calculate the market size, the report considers the revenue generated from the spending on hardware such as computer peripherals, storages, servers, and networking equipment and spending on software such as system software, application software, and programming software.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global IT Spending Market by Audit Firms 2018-2022
Technavio recognizes the following companies as the key players in the global IT spending market by audit firms: Cisco, Dell, IBM, and Microsoft.
Other Prominent Vendors in the market are: Accenture, AuditDashboard, Apple, Capegemini, Cisco, Cognizant, Fujitsu, HCL Technologies, HP, Infosys, IVDesk, LockPath, NTT Data, Oracle, Right Networks, Samsung, SAP, TCS, and 360factors.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the adoption of cloud-based IT infrastructure. Many audit firms are outsourcing their network maintenance and application updates to the cloud hosting companies such as Right Networks and IV Desk. Some of these auditing firms host their applications through accounting applications that are offered by various providers such as CCH (a Wolters Kluwer business). Such firms are also focusing on the maintenance of their own network environment with an internal IT personnel due to the rising security threat in the IT sector.”
According to the report, one of the major drivers for this market is increased application of BI software in auditing firms. A large number of auditing firms use BI software for accounting purposes because it helps them to turn raw data into useful information. BI software supports functions such as reporting, analytics, and data management. Auditing firms will continue to adopt this software for various functions such as revenue generation, financial visibility, fraud detection, financial risk avoidance, and achieving.
Cisco, Dell, IBM, Microsoft, Accenture, AuditDashboard, Apple, Capegemini, Cisco, Cognizant, Fujitsu, HCL Technologies, HP, Infosys, IVDesk, LockPath, NTT Data, Oracle, Right Networks, Samsung, SAP, TCS, and 360factors.