Customs Audit Market by Type (Customs Advisory Services, Customs Audit Services), and Region 2024-2032

Customs Audit Market by Type (Customs Advisory Services, Customs Audit Services), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6742
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Market Overview:

The global customs audit market size reached US$ 8.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.1 Billion by 2032, exhibiting a growth rate (CAGR) of 2.8% during 2024-2032. The increasing demand for auditing services, the introduction of virtual audits, and the implementation of various government initiatives represent some of the key factors driving the market.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 8.6 Billion
Market Forecast in 2032
US$ 11.1 Billion
Market Growth Rate (2024-2032) 2.8%


A customs audit is the examination of accounts and other business records. It verifies the compliance of the business with the relevant legislation and revenue requirements. It is widely conducted to ensure that financial information is represented fairly and accurately. It helps to identify operational inefficiencies, and wrong duty amounts paid and ensure compliance with policies and regulations. A customs audit involves independent and unbiased verification of all the information of financial and non-financial nature. It consists of an electronic declaration that facilitates importers and exporters by relieving them of lodging documents at a customs station. It assists in improving performance, operating efficiency, assessing the risk of misstatements, and controlling risks.

Customs Audit Market

Customs Audit Market Trends:

The increasing demand for efficient supply chains across the globe is one of the key factors driving the market growth. A customs audit is essential to ensure better quality control, reduced inventory and overhead costs, and improved risk mitigation. In line with this, the widespread adoption of customs audits to inspect the transactions between the trader and the customs authorities to reduce risks and easily identify and inspect transactions is favoring the market growth. Additionally, the introduction of virtual audits due to the advancements in information technology (IT) is acting as another growth-inducing factor. Along with this, virtual audits assist businesses in including high-tech strategies that help to receive and share data and make observations easily, which, in turn, is providing an impetus to the market growth. Moreover, virtual audits, also known as e-audits that used through electronic means to obtain audit evidence remotely. Apart from this, the widespread utilization of cutting-edge customs audit software that automates the investigation process of reports, entities, and systems to reduce risks is positively influencing the market growth. Besides this, the implementation of various government initiatives to strengthen customs controls and compliance is propelling the market growth. The market is also driven by the increasing number of Free Trade Agreements (FTAs) among various countries. Other factors, including the rising need to improve operational activities, increasing demand for auditing services, and growing regulations regarding the disclosure and recording of financial records, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global customs audit market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type.

Type Insights:

Customs Audit Market By Type

  • Customs Advisory Services
  • Customs Audit Services
     

The report has provided a detailed breakup and analysis of the customs audit market based on the type. This includes customs advisory and customs audit services. According to the report, customs audit services represented the largest segment.

Regional Insights:

Customs Audit Market By Region

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for customs audits. Some of the factors driving the North America customs audit market included various technological advancements, the increasing need to improve operational activities, and the utilization of virtual audits.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global customs audit market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Baker Tilly International Ltd., BDO International Ltd., Deloitte Touche Tohmatsu Ltd., Ernst & Young Global Ltd., Grant Thornton International Ltd, KPMG International Ltd., Larkin Trade International, PricewaterhouseCoopers LLP, Ryan LLC, Schenker AG, World Wide Customs Brokers Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Baker Tilly International Ltd., BDO International Ltd., Deloitte Touche Tohmatsu Ltd., Ernst & Young Global Ltd., Grant Thornton International Ltd, KPMG International Ltd., Larkin Trade International, PricewaterhouseCoopers LLP, Ryan LLC, Schenker AG, World Wide Customs Brokers Ltd., etc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the customs audit market from 2018-2032.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global customs audit market.
  • The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the customs audit industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market. 

Key Questions Answered in This Report

The global customs audit market was valued at US$ 8.6 Billion in 2023. 

We expect the global customs audit market to exhibit a CAGR of 2.8% during 2024-2032.

The growing need for ensuring better quality control, reducing inventory and overhead costs, and improving risk mitigation is primarily driving the global customs audit market.

The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of customs audit to conduct interviews and review documents remotely, during the lockdown scenario.

Based on the type, the global customs audit market can be bifurcated into customs advisory services and customs audit services. Currently, customs audit services hold the largest market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global customs audit market include Baker Tilly International Ltd., BDO International Ltd., Deloitte Touche Tohmatsu Ltd., Ernst & Young Global Ltd., Grant Thornton International Ltd, KPMG International Ltd., Larkin Trade International, PricewaterhouseCoopers LLP, Ryan LLC, Schenker AG, World Wide Customs Brokers Ltd., etc.

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Customs Audit Market by Type (Customs Advisory Services, Customs Audit Services), and Region 2024-2032
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