The global tax software market accounted for US$10.9 Bn in 2019 and is expected to grow at a CAGR of 11.2% over the forecast period 2020-2027, to account for US$ 24.8 Bn by 2027.
Top Companies Covered in this Report: 2U, Inc., Academic Partnerships, Apollidon, Bisk Education, Inc., Blackboard Inc., Keypath Education, Noodle Partners, Online Education Services (OES), Pearson Education, and Wiley Education Services.
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The tax software is incorporated with various other software, such as customer relationship management (CRM), enterprise resource planning (ERP), and reporting applications; also, the tax software performs calculations and generates reports. Tax software solutions offer real-time business visibility through its easy to create reports. Wide-ranging tax reporting and analysis across several businesses are increasing swiftly. To manage all the tax-related reports, organizations are embracing tax software. Due to the growing demand for cloud-based technology in various industries, they are widely adopting cloud-based tax software as it mitigates the time to process, and it is also cost-effective software.
The tax software market operates in a highly fragmented and competitive marketplace. As leading companies in this market continue to broaden its addressable market, by expanding its current offerings, diversifying its client base, all the prominent players face an increasing level of competition, both from start-ups to leading established companies across the world. Several companies in the value chain are acquiring other players in the market to maintain their position in the market and provide efficient services to its customers. For instance, in September 2019, Wealthsimple Inc., a Canada-based online investment management company, acquired SimpleTax, a tax return software firm based in Canada, which is engaged in preparing and filing tax returns. Significant number of tax software providers is based in North America, mainly in the US. However, the market is penetrating at a high rate in APAC.
The key companies profiled in the tax software market include Avalara Inc.; Chetu, Inc.; Drake Software; H & R Block; Intuit Inc.; Sage Group PLC; Thomson Reuters Corporation; Vertex, Inc.; Wolters Kluwer N.V.; and Xero Limited. Several other players are also functioning in the market worldwide, contributing significant revenue shares year-on-year.
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Table Of Content
2. Key Takeaways
3. Research Methodology
4. Tax Software Market Landscape
5. Tax Software Market – Key Market Dynamics
6. Tax Software Market- Global Market Analysis
7. Tax Software Market Analysis – By Product Type
8. Tax Software Market Analysis – By Deployment Type
9. Tax Software Market Analysis – By Tax Type
10. Tax Software Market Analysis – By End-User
11. Tax Software Market Analysis – By Vertical
12. Tax Software Market – Geographic Analysis
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