Tax Software Market 2017 Segmentation with Key Players, Growth Rate and Forecast 2025

"The Latest Research Report Tax Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz"

This exclusive report will provide you with the market size and forecast (US$ Mn) for the global market and its segments for the period from 2015 to 2025 along with the growth rate (CAGR) from 2017 to 2025, considering 2016 as base year. In addition, drivers, restraints and opportunities, competitive landscape have also been covered under the current proposed table of contents, which will in due course help you to take strategic decisions with respect to the market.

Tax software is designed to help companies or individuals in ensuring tax compliance for corporate tax, income tax, VAT, customs, sales tax, service tax and similar tax returns users may require to pay. Tax software simplifies the process of filing tax by avoiding user’s work through tax forms and also automatically calculates the company's or individual’s tax compulsions/obligations. The objective of these software is to provide the user with a simplified solution to calculate tax payment and minimize any associated human error.

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Automation of business critical applications, reduces the execution risk by reducing operating costs, improving management, visibility and increased productivity. The convergence of digital devices and technologies with traditional business processes and rapidly changing industrial environment, are increasingly growing demand for the tax software market. As such, tax procedures are switching to smart tax software products that are capable of handling every critical aspect of a tax obligations lifecycle. Highly scalable tax software, some of which also have the capability of avoiding duplicity and minimizing deductions, to more effectively serve the consumers. From the market perspective, increasing electronic filing of individual tax returns is expected to reduce internal revenue service (IRS) and ultimately increase enforcement revenue.

Tax software are of primary focus for small businesses as it maximizes tax deductions and removes the necessity to hire tax accountants for filing taxes. All these factors are collectively supporting the demand for a variety of tax software across the globe. Due to these factors, the global tax software market is projected to expand at an excellent pace over the forecast period. The increasing improvements in tax collection systems, especially in developing regions, is one of the crucial factors driving the global tax software market.

Furthermore, advancements in cloud and analytics has led to the rising adoption of tax software. These factors are anticipated to garner increased adoption rates and propel the tax software demand over the forecast period.

The global tax software solutions market can be segmented based on deployment type, solution, billing type, verticals and region. In terms of deployment type, the market has been bifurcated into cloud-based and on-premise software. Based on solution, the market can be segmented into integrated-suite and standalone software. On the basis of billing type, the market can be segmented into license based and subscription based. Furthermore, on the basis of verticals, the market is segmented into BFSI, telecom & IT, government, healthcare, retail & consumer goods, transportation, manufacturing, energy and utilities.

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The global tax software solution market is also segmented on the basis of regions into North America, South America, Europe, Asia Pacific and Middle East & Africa. The market is dominated by developed regions such as North America and Europe owing to the availability of funds for supporting the switch to operational advancements. North America has the largest number of industries which are willing to invest in the tax software solutions. Adoption rate in North America is comparatively higher when compared with other regions. Europe has a huge transportation, logistics, and shipping market. Pertaining to high requirement for automated system and services, the companies are utilizing cloud based solutions to differentiate their services. This trend can be attributed to the increasing focus on innovations obtained from research and development and advanced technologies in the developed countries. Moreover, Asia Pacific is among the fastest growing markets. Whereas, south America and Middle East & Africa regions are also expected to grow significantly over the forecast period.

Some of the major players active in the development of tax software market 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.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis

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The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market

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