Tax Management Market 2023 - Market Size, Growth Analysis, Share, Leading Key Players, Trends, And Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Tax Management Global Market Report 2023 identifies growing amount of financial transactions across the verticals because of digitalization as the major driver for the tax management market's growth in the forecast period. The use of digital payment methods is increasing as consumers seek simpler and more convenient ways to spend their money. Furthermore, the proliferation of smartphones has aided in the rapid adoption of digital payments. Businesses are evolving to become entirely digital, allowing tax calculations to be built into the software used by firms, making taxation an automated process.

The global tax management market size is expected to grow from $18.60 billion in 2022 to $20.98 billion in 2023 at a compound annual growth rate (CAGR) of 12.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The tax management market is expected to grow to $32.92 billion in 2027 at a CAGR of 11.9%.

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Major competitors in the tax management market are Avalara Inc., Blucora Inc., H&R Block Inc., Sovos Compliance LLC, Vertex Inc.

A key trend in the tax management market includes technological innovations. Major companies operating in tax management are focusing on technological innovations to gain a competitive edge in the market. For instance, in May 2022, J.P. Morgan, a US-based investment banking company, launched a new Tax-Smart Separately Managed Account (SMA) Platform, enabling advisors to build customized portfolios and obtain higher after-tax returns for their clients. The platform has J.P. Morgan's investment expertise combined with 55ip's tax-smart technology.

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The tax management market is segmented -
1) By Components: Software and Services

2) By Deployment mode: Cloud, On-premises

3) By Organization size: Small and Medium-sized Enterprises (SMEs), Large Enterprises

4) By Vertical: Banking Financial Services and Insurance (BFSI), Information Technology (IT) and Telecom, Manufacturing, Energy, and Utilities, Retail, Healthcare, and Life Sciences, Media, and Entertainment, Others (Real Estate and Construction, Transportation, and Logistics)

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the tax management market.

The Business Research Company's "Global Tax Management Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Tax Management Market Include:
1. Executive Summary
2. Tax Management Market Characteristics
3. Tax Management Market Trends And Strategies
4. Tax Management Market - Macro Economic Scenario
5. Tax Management Market Size And Growth
……
26. Africa Tax Management Market
27. Tax Management Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Tax Management Market
29. Tax Management Market Future Outlook and Potential Analysis
30. Appendix

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