Key Trend Reshaping the Generative Artificial Intelligence (AI) In Corporate Tax Management Market in 2025: Advancements In Generative Artificial Intelligence (AI) In Corporate Tax Management Enhanced Market Growth

What Are the Projections for the Size and Growth Rate of the Generative Artificial Intelligence (AI) In Corporate Tax Management Market?
There has been a rapid expansion in the market size of generative artificial intelligence (AI) applied in corporate tax management over the past few years. The market is projected to rise from $1.86 billion in 2024 to $2.44 billion in 2025, registering a compound annual growth rate (CAGR) of 31.0%. This substantial growth during the historic period is due to several factors, including the rising adoption of AI among tax experts, an upsurge in transaction volume, an increasing prominence of web-based e-commerce, a surge in digital transactions, and heightened demand for tax software.

Expectations are high for the generative artificial intelligence (AI) market in corporate tax management to experience outstanding growth in the coming years. The market is predicted to expand to $7.13 billion in 2029, witnessing a compound annual growth rate (CAGR) of 30.7%. The anticipated growth during the forecasted period can be associated with the assessment of industry-specific variations, creation of predictions from financial statements, international tax rules, transfer pricing amendments, employee payout plans, and the increasing requirement for automation. The major trends expected in this forecasted period include predictive tax planning analytics, technological progression, improved fraud detection techniques, cross-border tax optimization, and flawless integration with ERP systems.

What Are the Main Catalysts for Growth in the Generative Artificial Intelligence (AI) In Corporate Tax Management Market?
Corporate investments are on the upswing, a trend which is forecasted to boost the growth of generative AI in the corporate tax management market. This surge in investments is attributed to growing confidence in economic recovery and the search for growth opportunities driven by innovation. The usage of generative AI in corporate tax management is enhancing effectiveness by fine-tuning tax strategies, streamlining compliance procedures, and offering data-backed insights for strategic decision-making - all of which lead to cost reductions and improved financial performance. For example, in March 2024, the Office for National Statistics, a UK-based statistical institute, reported that business investment in the UK had grown by 1.4% in Quarter 4 (October to December) of 2023, a 2.8% rise compared to the same quarter in 2022. Overall, in 2023, annual business investment in the UK increased by 5.5%. Hence, the growing corporate investments are fuelling the growth of generative AI in the corporate tax management market.

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Which Businesses Are at the Forefront of Generative Artificial Intelligence (AI) In Corporate Tax Management Market Development?
Major companies operating in the generative artificial intelligence (AI) in corporate tax management market are Amazon Web Services Inc., Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers, Ernst & Young Global Limited, KPMG International Limited, SAP SE, Capgemini SE, BDO Global, Intuit Inc., RSM International, Thomson Reuters Corporation, Wolters Kluwer N.V., Baker Tilly International, Alvarez & Marsal Holdings LLC, Alteryx Inc., Avalara Inc., EisnerAmper LLP, Wipfli LLP, Marcum LLP, Vertex Inc., ClearTax Private Limited

What Are the Latest Innovations in the Generative Artificial Intelligence (AI) In Corporate Tax Management Market?
Key players in the generative AI for corporate tax management market are concentrating their efforts on creating innovative solutions like AI platforms to boost efficacy, precision, and compliance in tax planning and reporting procedures. An AI platform is a system or software program that utilizes AI technologies to manage multiple tax-related operations. For instance, Ernst & Young Global Limited, a renowned UK accounting firm, introduced EY.ai in September 2023. This novel platform aids organizations in confidently integrating artificial intelligence (AI). It brings distinct features to the table, such as an upgraded payroll care system that uses ChatGPT to effectively address intricate payroll issues, a business intelligence platform offering an all-inclusive insight into growth and risk via generative AI, and a secure extensive language model that accommodates diverse applications, ranging from conversational AI to product design.

How Is the Generative Artificial Intelligence (AI) In Corporate Tax Management Market Segmented?
The generative artificial intelligence (AI) in corporate tax management market covered in this report is segmented -

1) By Component: Services, Software
2) By Deployment Mode: Cloud, On-Premises
3) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Application: Tax Compliance, Tax Controversy Management, Tax Planning And Advisory, Tax Reporting, Other Applications
5) By Industry Vertical: Banking, Financial Services, And Insurance (BFSI), Energy And Utilities, Healthcare And Pharmaceuticals, Information technology (IT) And Telecommunications, Manufacturing, Retail And E-Commerce, Other Industry Verticals

Subsegments:
1) By Services: Consulting Services, Implementation Services, Managed Services, Support And Maintenance Services
2) By Software: Tax Compliance Software, Tax Planning Software, Tax Reporting Software, Tax Research Software, Integrated Tax Management Software

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Where Is the Generative Artificial Intelligence (AI) In Corporate Tax Management Market Growth Most Prominent?
North America was the largest region in the generative artificial intelligence (AI) in corporate tax management market in 2024. The regions covered in the generative artificial intelligence (AI) in corporate tax management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Generative Artificial Intelligence (AI) In Corporate Tax Management Global Market Report?

- Market Size Analysis: Analyze the Generative Artificial Intelligence (AI) In Corporate Tax Management Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Generative Artificial Intelligence (AI) In Corporate Tax Management Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Generative Artificial Intelligence (AI) In Corporate Tax Management Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Generative Artificial Intelligence (AI) In Corporate Tax Management Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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