MarkNtel Advisors has just published a new research report titled "Tax Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030". This study provides an extensive analysis of market drivers, segmentation, growth opportunities, trends, and competitive landscape, aiming to provide insights into current and future market scenarios.
What insights and analysis does the report provide on the Tax Software market from 2024 to 2030?
The Global Tax Software Market size was valued at around USD 18.5 billion in 2023 and is estimated to grow at a CAGR of about 10% during the forecast period, i.e., 2024-30.
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Tax Software Market by Segments
By Offerings
- Tax Software- Market Size & Forecast 2019-2030, (USD Million)
- Standalone- Market Size & Forecast 2019-2030, (USD Million)
- Integrated- Market Size & Forecast 2019-2030, (USD Million)
- Services- Market Size & Forecast 2019-2030, (USD Million)
- Managed- Market Size & Forecast 2019-2030, (USD Million)
- Professional- Market Size & Forecast 2019-2030, (USD Million)
By Deployment
- Cloud- Market Size & Forecast 2019-2030, (USD Million)
- On-premise- Market Size & Forecast 2019-2030, (USD Million)
By Tax Type
- Sales Tax- Market Size & Forecast 2019-2030, (USD Million)
- Income Tax- Market Size & Forecast 2019-2030, (USD Million)
- Others (VAT, Service Tax, Estate Tax, etc.)- Market Size & Forecast 2019-2030, (USD Million)
By Enterprise Type
- Large Enterprises- Market Size & Forecast 2019-2030, (USD Million)
- Small & Medium Enterprises (SMEs)- Market Size & Forecast 2019-2030, (USD Million)
By End User
- IT & Telecom- Market Size & Forecast 2019-2030, (USD Million)
- BFSI- Market Size & Forecast 2019-2030, (USD Million)
- Government- Market Size & Forecast 2019-2030, (USD Million)
- Retail & Consumer Goods- Market Size & Forecast 2019-2030, (USD Million)
- Healthcare- Market Size & Forecast 2019-2030, (USD Million)
- Others (Hospitality, Education, etc.)- Market Size & Forecast 2019-2030, (USD Million)
A comprehensive report on the Tax Software Market is available now- https://www.marknteladvisors.com/research-library/tax-software-market.html
Tax Software Market Report Segment by Regions
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
What are the current trends in the global Tax Software Market?
Integration of Automation & Artificial Intelligence (AI) technologies into Tax Software Solutions – The introduction of advanced technology in recent years has significantly improved productivity, streamlined processes, reduced manual errors, and enhanced efficiency. As a result, tax software solutions providers such as Thomson Reuters, Avalara, etc. are equipping themselves with the latest technologies, such as artificial intelligence (AI), machine learning, and data analysis, to make robust & critical decisions. For instance, in 2023, Thomson Reuters announced its plan to invest more than USD100 million per year in generative AI.
These include integrating generative AI skills through product development and acquisitions, leveraging strategic partnerships, and ensuring that its global workforce is upskilled in AI. Also, AI-powered features such as natural language processing (NLP), machine learning (ML), and robotic process automation (RPA) automate routine tasks like data entry, classification, and analysis, enabling tax professionals to focus on higher-value activities. Hence, the surging adoption of digital technologies & the integration of the technologies with traditional tax software management services would further gain support from end-users in the upcoming years.
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Who are the key players in the Tax Software Market?
- SAP SE
- Avalara Inc.
- Sovos Compliance, LLC
- HRB Digital LLC
- Intuit Inc.
- Xero Limited
- Thomson Reuters
- Wolters Kluwer N.V.
- Drake Software
- TaxSlayer LLC
- Sage Group plc
- ClearTax
- TaxJar
- TaxACT
- Rethink Solutions Inc
Questions Addressed in this Study
- What factors are driving the Tax Software Market growth?
- How is the Tax Software Market expected to grow over the next five years?
- What are the key insights into the current trends in the Tax Software Market?
- What is the current size of the Tax Software Market, and how is it projected to change in the future?
- What is the future outlook for the Tax Software Market in terms of technological advancements and market expansion?
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Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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