Customs Audit Market by Type (Customs Advisory Services, Customs Audit Services), and Region 2023-2028

Customs Audit Market by Type (Customs Advisory Services, Customs Audit Services), and Region 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A6742
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Market Overview:

The global customs audit market size reached US$ 8.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028. 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.

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 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 level from 2023-2028. Our report has categorized the market based on type.

Type Insights:

  • 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:

  • 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 2022
    Historical Period 2017-2022
Forecast Period 2023-2028
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$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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 Questions Answered in This Report:

  • How has the global customs audit market performed so far and how will it perform in the coming years?
  • What are the drivers, restraints, and opportunities in the global customs audit market?
  • What are the key regional markets?
  • Which countries represent the most attractive customs audit markets?
  • What is the breakup of the market based on the type?
  • What is the competitive structure of the global customs audit market?
  • Who are the key players/companies in the global customs audit market?
     

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 2017-2028.
  • 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.

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  • Speak to our experienced analysts for insights on the current market scenarios.
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Customs Audit Market by Type (Customs Advisory Services, Customs Audit Services), and Region 2023-2028
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