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Tax Management Market worth $47.04 billion by 2030, growing at a CAGR of 10.05% - Exclusive Report by 360iResearch
Tax Management Market | 360iResearch
The Global Tax Management Market to grow from USD 24.05 billion in 2023 to USD 47.04 billion by 2030, at a CAGR of 10.05%.
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The primary goal of tax management is to reduce tax liability by making tax-efficient investments or claiming deductions for specific expenses under applicable income tax laws. Tax Management is concerned with the timely filing of returns, having accounts audited, deducting tax at source, and many more. Tax management aids in the avoidance of interest, penalties, and prosecution. The emerging digital financial transaction and automated compliance have enhanced the adoption of tax management across several industries. However, data security & privacy issues and limited knowledge about tax procedures may impede the development of the tax management market. Nevertheless, the integration of advanced technologies and the surging potential of indirect tax management can create enormous opportunities. Additionally, many players are integrating sustainability agendas in their tax services, which can expand the adoption of tax management solutions among eco-consciousness end-users.
The Americas region, particularly U.S. and Canada is characterized by the significant adoption of digital technologies on an industrial scale. The presence of multiple players, and a developed and complex taxation system, which have encouraged the utilization of tax management solutions in the region. Similarly, the EMEA region has also covered a significant spectrum of the market owing to stringent regulatory norms and constant technology development in financial services. Several European software vendors have initiated collaborating with third-party developers to create API-based software to streamline the tax system, creating lucrative growth opportunities. Furthermore, growing adoption of software-based tax systems, combined with rising digitalization in the Asia-Pacific region, is expected to boost economic growth, propelling market growth in this region. Adoption of tax management solutions in the APAC region is driven by the need for cost-effective and reliable tax services.
Market Segmentation & Coverage:
This research report categorizes the Tax Management Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Component, market is studied across Services and Software. The Services is projected to witness significant market share during forecast period.
Based on Tax Type, market is studied across Direct Tax and Indirect Tax. The Indirect Tax is projected to witness significant market share during forecast period.
Based on Deployment, market is studied across On-Cloud and On-Premises. The On-Cloud is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Large Enterprise, Midsize Enterprise, and Small Business & Individuals. The Midsize Enterprise is projected to witness significant market share during forecast period.
Based on End-user Industry, market is studied across BFSI, Energy & Utility, Healthcare, Manufacturing, Media & Entertainment, Retail & e-Commerce, and Telecommunication & IT. The Media & Entertainment is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.17% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Tax Management Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Tax Management Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Tax Management Market, highlighting leading vendors and their innovative profiles. These include A. Dowl Knight & Company, PC, ADP, Inc., Aldrich Services LLP, Anrok, Inc., Asure Software, Inc., Avalara, Inc., Avantax, Inc., BDO USA, LLP, Canopy Tax, Inc., CPB Software AG, Crowe LLP, Drake Software, LLC, ECOVIS Webservice GmbH, Ernst & Young Global Limited, FastSpring, Global Tax Management, Inc., GlobalLogic, Inc. by Hitachi Ltd., Grant Thornton LLP by Guidehouse, HRB Digital LLC, Insightsoftware by GS Topco GP, LLC, Intuit, Inc., Jackson Hewitt Tax Service Inc., JPMorgan Chase & Co., KPMG International Limited, Lovat Compliance LTD, Paddle, PricewaterhouseCoopers LLP, Quaderno, Rehmann, LLC, RSM International Ltd., Ryan, LLC, SafeSend by cPaperless, LLC, Sage Group PLC, SAP SE, SAXTAX, Shield Products Limited, Sovos Compliance, LLC, Stripe, Inc., Tax Management Associates, Inc., Taxback International, TaxCloud by The Federal Tax Authority, LLC, TaxSlayer LLC, Thomson Reuters Corporation, Vertex, Inc., Washington Accounting Services Inc., Webgility, Wolters Kluwer N.V., WTS Global, and Xero Limited.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Tax Management Market, by Component
7. Tax Management Market, by Tax Type
8. Tax Management Market, by Deployment
9. Tax Management Market, by End-User
10. Tax Management Market, by End-user Industry
11. Americas Tax Management Market
12. Asia-Pacific Tax Management Market
13. Europe, Middle East & Africa Tax Management Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Tax Management Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Tax Management Market?
3. What is the competitive strategic window for opportunities in the Tax Management Market?
4. What are the technology trends and regulatory frameworks in the Tax Management Market?
5. What is the market share of the leading vendors in the Tax Management Market?
6. What modes and strategic moves are considered suitable for entering the Tax Management Market?
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