Tax Management Market
Global Tax Management Market Size, Share & Trends Analysis Report by Tax Type (Direct Tax and Indirect Tax), by Deployment Mode (Cloud and On-Premises), by Organization Size (Large Enterprises and Small & Medium-Sized Enterprises), and by Verticals (BFSI, Manufacturing, IT & Telecom, Retail & E-Commerce, Energy & Utility, Healthcare, and Media & Entertainment) Forecast 2022-2028 Update Available - Forecast 2024-2030
The global tax management market is anticipated to grow at a significant CAGR of 11.8% during the forecast period. The global tax management market is expected to grow during the forecast period is due to an increase in a digital financial transaction. Technological advancement in the finance sector and digital transformation has conducted vital improvements in connectivity of systems, in computing power and cost, and in newly generated and usable data. These improvements have shrunk the transaction costs and introduced new business models and new entrants in the tax management market. Technology has increased information exchange and reduced transaction costs, which further increases the rate of transactions.
Impact of COVID-19 Pandemic on Global Tax Management Market
The COVID-19 pandemic has positively impacted the tax management market. Businesses transfer from on-premises to cloud-based solutions, a continuous increase in digitization of tax management, and a flow in the demand for business recovery strategies during the COVID-19 pandemic was expected to provide ample opportunities for vendors of the global tax management market.
Segmental Outlook
The global tax management market is segmented based on the tax type, deployment mode, organization size, and verticals. Based on the tax type, the market is segmented into direct tax and indirect tax. Based on the deployment mode, the market is sub-segmented into the cloud and on-premises. Based on the organization size, the market is sub-segmented into Large Enterprises and Small & Medium-Sized Enterprises. Based on the verticals, the market is sub-segmented into the BFSI, manufacturing, IT & telecom, retail & e-commerce, energy & utility, healthcare, and media & entertainment. Among these large enterprises, sector is expected to grow during the forecast period due to the adoption of tax management software and services for faster and cost-effective compliance. Large enterprises have moved towards tax management solutions to manage taxes and comply with the complex tax regulations enforced, due to various jurisdictions they operate in.
Global Tax Management Market Share by Indirect Tax, 2021 (%)
The Indirect Tax Segment is Expected to Hold the Major Share in the Global Tax Management Market
The indirect tax is expected to grow in the tax management market during the forecast period. Indirect taxes are paid more frequently than direct taxes, advanced software is required to measure these rapidly and precisely. Indirect tax management software composes a systematized, unified framework for leading taxes and determining enforcement requirements. Companies have started to provide calculation-to-compliance indirect tax solutions, which include global indirect taxation rates, logic regulation, and laws. Companies are offering web-based enforcement software for value-added tax, GST, and sales or use taxation in various countries.
Regional Outlooks
The global tax management market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North America is expected to grow during the forecast period due to the increasing adoption of tax management software by end-users and continuous change in tax regulation.
Global Tax Management Market Growth, by Region 2022-2028
The Asia-Pacific region is expected to be the Fastest Growing in the Global Tax Management Market
The Asia-Pacific region is expected to be the fastest-growing market during the forecast period due to the increase in tax management software. The tax management software is expected to grow due to the rapid growth in the BFSI industry and frequent regulatory changes in developing countries such as India, and China. For Instance, In July 2017 the Indian government began charging goods and services tax (GST) at five different rates that are 0%, 5%, 12%, 18%, and 28% respectively. Since tax calculation of GST is quite complicated, the adoption of tax management software has been increased to automated tax calculation which indirectly fuels the global tax management market in this region.
Market Players Outlook
The major companies serving the global tax management market include ADP, Inc., Avalara, Inc., Blucora, Inc., Canopy Tax, Inc., cPaperless, LLC, DAVO Technologies LLC., Drake Enterprises, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in November 2021, Avalara addressed cross-border compliance for Shopify merchants. The company declared the company’s cross-border compliance capabilities powering the new duty and import tax features of Shopify’s global commerce hub.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global tax management market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Tax Management Market
• Recovery Scenario of Global Tax Management Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Tax Management Market by Tax Type
4.1.1. Direct Tax
4.1.2. Indirect Tax
4.2. Global Tax Management Market by Deployment Mode
4.2.1. Cloud
4.2.2. On-premises
4.3. Global Tax Management Market by Organization Size
4.3.1. Large Enterprises
4.3.2. Small & Medium-Sized Enterprises
4.4. Global Tax Management Market by Industry Verticals
4.4.1. BFSI
4.4.2. Manufacturing
4.4.3. IT & Telecom
4.4.4. Retail & E-commerce
4.4.5. Energy & Utility
4.4.6. Healthcare
4.4.7. Media & Entertainment
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. ADP, Inc.
6.2. Avalara, Inc.
6.3. Blucora, Inc.
6.4. Canopy Tax, Inc.
6.5. cPaperless, LLC
6.6. DAVO Technologies LLC
6.7. Drake Enterprises, Inc.
6.8. EXEMPTAX
6.9. HRB Digital LLC
6.10. Intuit Inc.
6.11. Lovat Compliance LTD.
6.12. Sailotech.
6.13. Taxback International
6.14. TaxCloud
6.15. TaxJar
6.16. TaxSlayer LLC
6.17. Thomson Reuters Holdings Inc.
6.18. Vertex, Inc.
6.19. Webgility
6.20. Wolters Kluwer N.V.
1. GLOBAL TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY TAX TYPE, 2021-2028 ($ MILLION)
2. GLOBAL DIRECT TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL INDIRECT TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2028 ($ MILLION)
5. GLOBAL CLOUD BASED TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL ON-PREMISES BASED TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2028 ($ MILLION)
8. GLOBAL TAX MANAGEMENT FOR LARGE ENTERPRISES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL TAX MANAGEMENT FOR SMALL & MEDIUM-SIZED ENTERPRISES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY INDUSTRY VERTICALS, 2021-2028 ($ MILLION)
11. GLOBAL TAX MANAGEMENT FOR BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL TAX MANAGEMENT FOR MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL TAX MANAGEMENT FOR IT & TELECOM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL TAX MANAGEMENT FOR RETAIL & E-COMMERCE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL TAX MANAGEMENT FOR ENERGY & UTILITY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. GLOBAL TAX MANAGEMENT FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
17. GLOBAL TAX MANAGEMENT FOR MEDIA & ENTERTAINMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
18. GLOBAL TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
19. NORTH AMERICAN TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
20. NORTH AMERICAN TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY TAX TYPE, 2021-2028 ($ MILLION)
21. NORTH AMERICAN TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2028 ($ MILLION)
22. NORTH AMERICAN TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2028 ($ MILLION)
23. NORTH AMERICAN TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY INDUSTRY VERTICALS, 2021-2028 ($ MILLION)
24. EUROPEAN TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. EUROPEAN TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY TAX TYPE, 2021-2028 ($ MILLION)
26. EUROPEAN TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2028 ($ MILLION)
27. EUROPEAN TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2028 ($ MILLION)
28. EUROPEAN TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY INDUSTRY VERTICALS, 2021-2028 ($ MILLION)
29. ASIA-PACIFIC TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
30. ASIA-PACIFIC TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY TAX TYPE, 2021-2028 ($ MILLION)
31. ASIA-PACIFIC TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2028 ($ MILLION)
32. ASIA-PACIFIC TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2028 ($ MILLION)
33. ASIA-PACIFIC TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY INDUSTRY VERTICALS, 2021-2028 ($ MILLION)
34. REST OF THE WORLD TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
35. REST OF THE WORLD TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY TAX TYPE, 2021-2028 ($ MILLION)
36. REST OF THE WORLD TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2021-2028 ($ MILLION)
37. REST OF THE WORLD TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2021-2028 ($ MILLION)
38. REST OF THE WORLD TAX MANAGEMENT MARKET RESEARCH AND ANALYSIS BY INDUSTRY VERTICALS, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL TAX MANAGEMENT MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL TAX MANAGEMENT MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL TAX MANAGEMENT MARKET, 2022-2028 (%)
4. GLOBAL TAX MANAGEMENT MARKET SHARE BY TAX TYPE, 2021 VS 2028 (%)
5. GLOBAL DIRECT TAX MANAGEMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL INDIRECT TAX MANAGEMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL TAX MANAGEMENT MARKET SHARE BY DEPLOYMENT MODE, 2021 VS 2028 (%)
8. GLOBAL CLOUD BASED TAX MANAGEMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL ON-PREMISES BASED TAX MANAGEMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL TAX MANAGEMENT MARKET SHARE BY , ORGANIZATION SIZE 2021 VS 2028 (%)
11. GLOBAL TAX MANAGEMENT FOR LARGE ENTERPRISES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL TAX MANAGEMENT FOR SMALL & MEDIUM-SIZED ENTERPRISES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL TAX MANAGEMENT MARKET SHARE BY INDUSTRY VERTICALS, 2021 VS 2028 (%)
14. GLOBAL TAX MANAGEMENT FOR BFSI MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL TAX MANAGEMENT FOR MANUFACTURING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL TAX MANAGEMENT FOR IT & TELECOM MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
17. GLOBAL TAX MANAGEMENT FOR RETAIL & E-COMMERCE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
18. GLOBAL TAX MANAGEMENT FOR ENERGY & UTILITY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
19. GLOBAL TAX MANAGEMENT FOR HEALTHCARE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
20. GLOBAL TAX MANAGEMENT FOR MEDIA & ENTERTAINMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
21. GLOBAL TAX MANAGEMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
22. US TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
23. CANADA TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
24. UK TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
25. FRANCE TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
26. GERMANY TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
27. ITALY TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
28. SPAIN TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF EUROPE TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
30. INDIA TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
31. CHINA TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
32. JAPAN TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
33. SOUTH KOREA TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
34. REST OF ASIA-PACIFIC TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
35. REST OF THE WORLD TAX MANAGEMENT MARKET SIZE, 2021-2028 ($ MILLION)
