MarketResearchNest.com adds “Global IT Spending Market 2018-2022”new report to its research database. The report spread across 103 pages with table and figures in it.
Research analysts forecast the global IT spending market by audit firms to grow at a CAGR of 5.15% during the period 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.
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.
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The market is divided into the following segments based on geography:
Technavio’s report, Global IT Spending Market by Audit Firms 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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 Research 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.”
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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.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be; What are the key market trends; What is driving this market; What are the challenges to market growth; Who are the key vendors in this market space; What are the market opportunities and threats faced by the key vendors; What are the strengths and weaknesses of the key vendors;
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Mr. Jeet Jain