The global tax management market size reached USD 17.66 Billion in 2020 and is expected to register a CAGR of 12.4% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for solutions for easy record keeping of taxes is expected to drive global tax management market revenue growth over the forecast period. Increasing demand for tax calculation software with high accuracy and minimal errors is expected to further augment global tax management market growth during the forecast period. Rising number of financial transactions across various industries is expected to further boost market growth over the forecast period.
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Some Key Highlights From the Report
The solutions segment revenue is expected to expand at a significant CAGR during the forecast period. Increasing adoption of tax management software across various industries is expected to boost revenue growth of this segment going ahead.
The indirect tax segment is expected to lead in terms of revenue over the forecast period due to increasing need for advanced software to measure indirect taxes quickly and accurately.
The cloud segment is expected to lead in terms of revenue over the forecast period due to increasing implementation of cloud-based tax management software to optimize mobility and decentralize data storage.
The BFSI segment is expected to lead in terms of revenue over the forecast period due to increasing number of customers utilizing banking services in the BFSI industry.
Factors such as increasing adoption of tax management software by end-users and continuous changes in tax regulations in countries in North America is expected to drive growth of the market in the region during the forecast period.
Key players in the market include Avalara, Inc., Thomson Reuters Corporation, SAP SE, Canopy Tax, Inc., Federal Tax Authority, LLC (TaxCloud), TPS Unlimited, Inc., Intuit Inc., Sovos Compliance, LLC, DAVO Technologies, LLC, and Drake Enterprises, Inc.
In December 2020, Impendulo Limited was acquired Avalara, Inc. Impendulo’s expertise and strategic vision will broaden Avalara’s reach into new markets, and in turn, will introduce technology and automation to enhance Avalara’s existing solutions.
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Component Outlook (Revenue, USD Billion; 2018–2028)
Type Outlook (Revenue, USD Billion; 2018–2028)
Deployment Outlook (Revenue, USD Billion; 2018–2028)
End-Use Outlook (Revenue, USD Billion; 2018–2028)
Information Technology & Telecom
Energy & Utilities
Transportation & Logistics
Media & Entertainment
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Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market’s growth?
The report segments the Tax Management market on the basis of geography, end-user, end-use, product application, type, share, growth rate and size to reveal where the industry will be in the coming years. The researchers assessing the industry have included the details about the recent decisions and events such acquisition and mergers, collaborations, product launch and investments. Important decisions connected with such events come handy for business owners when positioning their brands in the global market and finalizing the marketing strategies.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Tax Management Market Segmentation & Impact Analysis
4.1. Tax Management Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Stringent environmental regulations
126.96.36.199. Rising need to reduce bacterial or algal contamination in water systems
188.8.131.52. Increasing demand for biocides for municipal water treatment
4.2.3. Market restraints analysis
184.108.40.206. Fluctuating prices of raw material
220.127.116.11. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Tax Management Market By Application Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Tax Management Market By Product type Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 7. Tax Management Market Regional Outlook
Chapter 8. Competitive Landscape