Global Tax Software Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “Tax Software Market by Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Tax Software Market was valued at XX million in 2016 and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. North America is considered to be the leading region for this market owing to the availability of funds for supporting the switch to operational advancements.
Tax software is mainly designed to help organizations or individuals in assuring tax compliance for corporate tax, income tax, VAT, customs, sales tax, service tax and similar tax returns users may require to pay. This software simplifies the process of filing tax by avoiding users work through tax forms and also automatically calculates the organizations tax obligations. However, the main intention of this software is to provide the user with a simplified solution to calculate tax payment and reduce the associated human errors.
There is increasing demand for the market, owing to the convergence of digital devices and technologies with traditional business processes and rapidly changing industrial environment. Moreover, this software mainly focuses for small businesses as it maximizes tax deductions and removes the necessity to hire tax accountants for filing taxes. Moreover, the improvement in cloud and analytics has led to growing adoption of tax software.
The global tax software market report consists of various tools and techniques including, porters, value chain, market share analysis, and others. The data used in this report is gathered from extensive primary and secondary sources. These report gives the overall idea of market trends, opportunities, restraints, challenges, and others. The report includes major players along with their development strategies such as expansion, acquisition, merger, and others.
On the basis of segmentation, the market is bifurcated into various segments such as deployment type, solution, billing type, verticals, and region. According to the deployment type segment, it is divided into cloud-based and on-premises. Based on the solution, the market is differentiated into integrated-suit and standalone software. However, based upon the billing type segment, the market is classified into license based and subscription based. According to the verticals, the market is categorized into BFSI, telecom & IT, government, healthcare, retail & consumer goods, transportation, manufacturing, energy, and utilities.
Key Question Answered: •What will be the market size in 2025 and at what rate it will grow? •Who are the major key players in global tax software market and what are their strategies? •Which vertical industry is expected to show major growth? •What segment and region will lead the market and why?
The major companies profiled in the report include: Vertex, Inc., Avalara, SOVOS, H&R Block, EGov Systems, Intuit Inc., Xero, Thomson Reuters, Exactor, Wolters Kluwer, FedTax, LegalRaasta.com, Drake Software, BLUCORA and LumaTax.
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