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Global Cloud Tax Management Software Market 2019 Growth, COVID Impact, Trends Analysis Report 2025

01-28-2021 07:17 AM CET | IT, New Media & Software

Press release from: Orion Market Research

The global cloud tax management software market is estimated to grow considerably during the forecast period. The cloud tax management software market growth is attributed to the growing adoption of the cloud computing in different verticals including BFSI sector, IT and telecom, energy & utilities, healthcare & life science, and others. The deployment of the conventional on-premise service-based systems for the improvement of the business enterprise’s capabilities and expansion of new capabilities takes time. Furthermore, the use of the cloud platform assists the organization to reduce its overall operational cost. Cloud services eliminated the wait to run the application after its deployment, which results in time-saving and more efficient work.

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Further, with the increasing amount of data generated through IoT, many enterprises have shifted their data to the cloud storage by choosing service providers. Therefore, the demand for cloud-based services among enterprises has been growing significantly in developed economies globally. For instance, according to Eurostat, around 26% of EU enterprises used cloud computing in 2018, primarily for e-mails and storage of files, as compared to 21% in 2016. Likewise, there is significant adoption of cloud-based services across several countries, such as the US, China and India owing to the significant rise in the demand for cloud-based services by SMEs.

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To enhance their reach and access in the decentralized environment, the BFSI sector has to manage a wide variety of customers in several regions under different rules and regulations. As a result, a document management system for the BFSI industry is much more complex and critical. Additionally, this sector makes use of large clouds to save their information, therefore these organizations are actively adopting cloud tax management solutions to performKYC and risk management,record management & OCR, business process management, and security & confidentiality. In energy & utilities cloud tax management software solutions are used to calculate the property tax. In the healthcare &life science sector the cloud tax management solution is used to manage the service tax, goods & service tax, and property tax among others.

Global Cloud Tax Management Software Market- Segmentation
By Type
• Direct Tax
• Indirect Tax
By Vertical
• Banking Financial Services and Insurance (BFSI)
• Information Technology (IT) and Telecom
• Energy & Utilities
• Healthcare & LifeScience
• Government
• Retail and Consumer Goods
• Others
Global Cloud Tax Management Software Market– Segment by Region
North America
• United States
• Canada
Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World
Company Profiles
• Acumatica, Inc.
• ADP, LLC
• Avalara, Inc.
• Blucora, Inc.
• CrowdReason, LLC
• Crozdesk, Ltd.
• Drake Enterprises, Inc.
• E-Crunch, Ltd.
• H&R Block, Inc.
• Intuit, Inc.
• Magnet Brains Software Technology Pvt. Ltd.
• Microsoft Corp.
• Oracle Corp.
• Paychex, Inc.
• Sage Intacct, Inc.
• SAP SE
• Shoeboxed, Inc.
• TaxCloud (The Federal Tax Authority, LLC)
• TPS Unlimited, Inc.
• Wolters Kluwer N.V.

Reasons to Buying From us –
• We cover more than 15 major industries, further segmented into more than 90 sectors.
• More than 120 countries are for analysis.
• Over 100+ paid data sources mined for investigation.
• Our expert research analysts answer all your questions before and after purchasing your report.
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Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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