Europe Audit Software Market Report and Forecast 2024-2032

Europe Audit Software Market Outlook

The Europe audit software market size reached USD 320.70 million in 2023. The market is expected to grow at a CAGR of 8.98% between 2024 and 2032, reaching USD 703.76 million by 2032.

Key Takeaways:

• As per Eurostat , In 2020, there were 5,441 banks in the EU, with assets worth €39,219 billion.

• As of 2020, the healthcare expenditure of the European Union  as a percentage of its GDP is 10.9%.

• In Europe  as of 2021, there were 2.1 million enterprises in the manufacturing sector employing 30 million individuals.

The Europe audit software market growth is boosted by large enterprises that require robust audit software, on the other hand, small and medium enterprises have distinct needs and preferences

Large corporations in Europe use robust audit software which enables them to oversee complex activities, large sums of money and law compliance. To achieve this, enterprises located in the domestic region use audit software with advanced features like automation, analytic tools, and customized reporting which makes work easier by increasing effectiveness when conducting transactions while minimising the risks at different levels across all sites and departments.

Audit software helps firms in numerous sectors automate tasks, manage risk, streamline reporting, and enhance financial governance among many other use cases. In November 2023 SAP completed the acquisition of LeanIX, a market leader in the software as a service industry.

Small and medium-sized enterprises also have a significant share of the European audit software market. Audit software has practical methodologies aimed at handling financial management responsibilities according to the established accounting standards. These customised systems are designed for small and medium-sized businesses, they are often easy to operate, and the cost of their acquisition and implementation ought to be inexpensive.

Market Segmentation

Europe Audit Software Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

• Solution

• Service

Market Breakup by Deployment Mode

• On-Premises

• Cloud

Market Breakup by Organisation Size

• Large Enterprises

• Small and Medium Enterprises

Market Breakup by Industry Vertical

• BFSI

• Manufacturing

• Healthcare

• Retail and E-Commerce 

• IT and Telecommunication 

• Others

Market Breakup by Country

• Germany

• United Kingdom

• France

• Italy

• Others

The Europe audit software market key players are SAP SE, Netwrix Corporation, Wolters Kluwer N.V., Diligent Corporation, Workiva Inc., Innolytics AG, Ideagen plc, Intelex Technologies ULC, MetricStream, Inc., and MasterControl Solutions, Inc. among others.

Key Highlights of the Report