Business Valuation Service - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)

The business valuation service market size was valued at USD 3.92 billion in 2025 and is estimated to grow from USD 4.16 billion in 2026 to reach USD 5.69 billion by 2031, at a CAGR of 6.46% during the forecast period (2026-2031). This report is segmented by Purpose (Tax, Statutory and Regulatory, and More), Engagement Product (Valuation Engagement, and More), Provider Type (Independent Valuation Specialists, and More), Client Type (Operating Companies and Issuers, and More), End-User Industry (Financial Services, and More), and Geography (North America, and More). The Market Forecasts are Provided in Terms of Value (USD).

Global Business Valuation Service Market Trends and Insights

Increasing M&A, Private Equity and Corporate Transaction Activity

Global M&A value reached USD 3 trillion in 2025, up 31% from 2024, and rose to USD 3.2 trillion in H1 2026. Private equity also has a large exit backlog, with about 32,000 portfolio companies awaiting sale and an estimated USD 3.8 trillion backlog. Private equity dry powder of USD 2.2 trillion supports continuation vehicles, carve-outs, and structured exits. These transactions require independent valuations, fairness opinions, purchase-price allocations, and complex securities analysis. Cross-border and multi-party transactions further increase valuation complexity. This supports demand for specialized business valuation providers.

Growing Financial Reporting and Regulatory Demand for Independent Business Valuations

ASC 820 and IFRS 13 require fair-value measurement for many financial and non-financial assets, creating recurring valuation requirements. Level 3 assets require significant judgment because observable market inputs are limited. Growing private-market investments and complex assets increase demand for independent valuation and supporting documentation. AI-related investments, energy-transition assets, and other difficult-to-value positions further expand this requirement. The American Institute of Certified Public Accountants and the National Association of Certified Valuators and Analysts have also issued guidance on responsible AI use in valuation and forensic engagements. These requirements strengthen demand for credentialed providers with robust documentation and audit support.

Shortage of Experienced and Credentialed Business Valuation Professionals

The United States has a limited pool of credentialed business valuation professionals, creating a capacity constraint as demand grows. The American Society of Appraisers notes that business valuation requires specialized education, examination, and experience, while the American Institute of Certified Public Accountants continues to highlight hiring and retention challenges in valuation and forensic services. The ASA Business Valuation designation requires five years of full-time experience, further extending the time needed to develop senior professionals. Competition from private equity and investment management firms can also draw experienced analysts away from valuation practices. Consolidation and acquisitions can help firms build larger specialist teams and structured training programs. The talent shortage supports pricing for complex assignments but limits how quickly providers can expand capacity.

Other drivers and restraints analyzed in the detailed report include:

• Rising Valuation Requirements for Intangible, Complex and Hard-to-Value Businesses
• Expansion of Private Markets and Unquoted Company Investments
• Fee Pressure on Standardized and Lower-Complexity Valuation Engagements

Segment Analysis

Financial reporting and fund fair value held 33.87% of revenue in 2025 and is forecast to grow at 8.12% CAGR through 2031. This purpose category leads both current scale and forecast growth. Audited financial statements with business combinations, goodwill balances, or fund portfolios require periodic Level 3 fair-value support. ASC 805, ASC 350, and IFRS 3 support requirements that do not disappear when transaction activity slows. Private credit assets under management are projected to exceed USD 2 trillion in 2026. New evergreen and perpetual-capital vehicles add quarterly and semiannual net asset value assignments.

The business valuation service market size for financial reporting and fund fair value is supported by recurring accounting and fund administration needs. Companies also face more difficult Level 3 assumptions related to artificial intelligence investments, energy-transition costs, and global minimum-tax rules. This adds to auditor demand for specialist support. Transaction and capital markets opinions are the second-largest purpose segment and track M&A volume. Tax, statutory, and regulatory mandates follow transfer-pricing disputes, Pillar Two compliance, and estate-planning activity. Dispute, litigation, and investigation assignments can rise during downturns, while insolvency and restructuring work follows the credit cycle and aging private equity holdings. These purposes show that valuation work is needed across the corporate life cycle, not only in active deal periods, supporting the business valuation service market share of recurring and non-transactional mandates.

Valuation engagement held 47.56% of revenue in 2025. It remains central to M&A fairness opinions, financial reporting work, and tax-planning appraisals. These use cases require full-scope signed opinions with a formal conclusion of value. Recurring portfolio or NAV mark is projected to grow at 8.45% CAGR through 2031. This growth reflects the continued use of perpetual capital and evergreen fund vehicles. Evergreen private credit assets under management reached USD 644 billion in mid-2025, up 28% from year-end 2024.

The business valuation service market size for recurring portfolio marks expands as each vehicle creates several independent valuation events each year. This converts some transactional pipelines into recurring service agreements and increases the business valuation service market share of recurring engagements. Providers can use quarterly work to plan staffing and technology investments with greater certainty. Calculation engagements serve clients seeking an option between a full valuation and a self-prepared estimate. Independent opinion products include fairness and solvency opinions used in board fiduciary and Securities and Exchange Commission disclosure settings. Recurring marks offer predictable revenue, while complex opinions remain expertise-intensive and can support higher margins. These product lines require different approaches to talent, data, and operating investment.

Complete Report Scope:

• By Purpose
  • Transaction and Capital-Markets Opinions
  • Financial Reporting and Fund Fair Value
  • Tax, Statutory and Regulatory
  • Dispute, Litigation and Investigation
  • Insolvency, Restructuring and Distress
• By Engagement Product
  • Valuation Engagement
  • Calculation Engagement
  • Independent Opinion Product
  • Recurring Portfolio or NAV Mark
• By Provider Type
  • Accounting and Professional-Services Networks
  • Independent Valuation Specialists
  • Investment-Banking and Corporate-Finance Opinion Desks
  • Independent Practitioners and Registered-Valuer Entities
• By Client Type
  • Operating Companies and Issuers
  • Alternative-Asset Managers and Vehicles
  • Banks, Insurers and Other Regulated Financial Institutions
  • Private Individuals, Estates, Trustees and Family Offices
  • Officeholders, Courts and Public Bodies
  • Professional Intermediaries as Principal
• By End-User Industry
  • Financial Services
  • Technology, Media and Telecommunications
  • Healthcare and Life Sciences
  • Industrials and Manufacturing
  • Energy, Utilities and Infrastructure
  • Consumer and Retail
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Vietnam
    • Rest of Asia-Pacific
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Turkey
    • South Africa
    • Egypt
    • Rest of Middle East and Africa

Geography Analysis

North America held 49.68% of the business valuation service market share in 2025. The region has a high concentration of private equity sponsors and public companies with detailed fair-value reporting requirements. The United States is the largest national market, supported by Securities and Exchange Commission examination priorities, Financial Accounting Standards Board requirements, Delaware litigation, and aging private equity holdings. The Americas M&A Sentiment Index stood at 84 in the second quarter of 2026, up from 79 at the start of the year but below the long-term average of 100. Canada supports activity through natural resources M&A and ties with the United States. Mexico adds demand through financial services growth and investment linked to the United States-Mexico-Canada Agreement.

Europe has a distinct structure because public companies widely use IFRS, and the region has a fragmented private-company base. The United Kingdom, Germany, and France generate most European mandates. The European Business Valuation Standards for Intangible Assets exposure draft may increase documentation and methodology requirements across European markets. The Middle East and Africa remain smaller but are developing as Gulf Cooperation Council diversification programs create infrastructure, energy, and private-company valuation assignments. Sovereign wealth fund assets under management reached USD 15 trillion in 2025 and are projected to reach USD 30 trillion by 2035. Gulf funds account for a large share of this growth, supporting demand for independent valuations on new commitments.

Asia-Pacific is projected to grow at a 9.12% CAGR through 2031, supporting the expansion of the business valuation service market size. China, India, Japan, South Korea, and Southeast Asia are supported by private equity, private credit, and cross-border M&A activity. India recorded 457 buyouts and growth-equity deals worth USD 13.7 billion in the first half of 2025, equal to 21% of Asia-Pacific activity. Greater China became the region's largest exit market in 2025 as exit value rose 76%. The Asia-Pacific M&A Sentiment Index was 55 in the second quarter of 2026. South America, led by Brazil, has a smaller business valuation service market share but growing interest in regulated fair-value practices as capital markets deepen and United States and European sponsors increase infrastructure and consumer investment.

List of Companies Covered in this Report:

• Kroll, LLC
• Deloitte Touche Tohmatsu Limited
• PricewaterhouseCoopers International Limited (PwC)
• Ernst & Young Global Limited (EY)
• KPMG International Limited
• Houlihan Lokey, Inc.
• Stout Risius Ross, LLC (Stout)
• Alvarez & Marsal Holdings, LLC
• Grant Thornton International Ltd
• BDO International Limited
• RSM International
• Valuation Research Corporation
• FTI Consulting, Inc.
• Forvis Mazars
• CBIZ, Inc.
• Baker Tilly International
• Crowe Global
• Lincoln International LLC
• CohnReznick LLP
• EisnerAmper LLP

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support