Tax Management Market

Tax Management Market by Component (Software and Services), Tax Type (Indirect Tax and Direct Tax), Deployment Mode (Cloud and On-premises), Organization Size (SMEs and Large Enterprises), Vertical, and Region - Global Forecast to 2024

Report Code: TC 7531 Feb, 2020, by marketsandmarkets.com

MarketsandMarkets estimates the global tax management market is expected to grow from USD 15.5 billion in 2019 to USD 27.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period. Factors driving the growth of the tax management market include the increasing volume of financial transactions across verticals due to digitalization , complex nature of existing tax system and increased vigilance of tax administrators .

Factors such as the use of blockchain technology is also expected to create ample opportunities for tax management vendors.

Tax Management Market

Software segment to hold a larger market size during the forecast period

The tax management market by component covers software and services. Tax management software are witnessing an increasing demand due to the continuously evolving tax and accounting laws in various countries. Enterprises need to keep up with the latest and current tax filings and compliance procedures across the globe. Tax management software help large organizations actively monitor business activities and provide alerts, while establishing tax obligations in new places, based on their individual nexus laws.

Indirect tax to hold a larger market size during the forecast period

Indirect taxes are paid more frequently than direct taxes; hence, they require advanced software for faster and accurate calculations. Tax management software for indirect taxation provide a standard, single platform to manage taxes and determine compliance responsibilities. Vendors have started providing calculation-to-compliance indirect tax solutions that deliver indirect tax rates, logic, policy, and rules from a global perspective. Vendors are providing web-based, Value Added Tax (VAT), Goods and Services Tax (GST), and sales and use tax compliance solutions, which covers multiple countries, including Brazil, India, and the Gulf Co-operation Council (GCC).

Cloud deployment mode to hold a larger market size during the forecast period

Cloud-based tax management solutions help reduce the overall costs while providing high flexible and scalable access to solutions through the Information Technology (IT) infrastructure hosted by the Cloud Service Provider (CSP). Hence, enterprises prefer deploying tax management solutions in the cloud to improve mobility and decentralize data storage and computing.

Banking, Financial Services and Insurance vertical to hold the largest market size during the forecast period

BFSI includes domestic and foreign banks, insurance and reinsurance companies, asset management companies, and non-banking finance companies. The Banking, Financial Services and Insurance (BFSI) vertical is characterized by digitalization and an increasing number of customers using various banking applications. This has resulted in the exponential growth of data in the banking and financial services vertical. Government regulations in this sector are complex and sensitive. Increasing number of financial transactions is one of the major factors driving the adoption of tax management software in the BFSI vertical.

Tax Management Market

North America to account for the largest market size during the forecast period

The global tax management market by region covers five major geographic regions: North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is expected to account for the largest market size during the forecast period due to continuous reforms in tax rules and regulations in the region.

Key Market Players

The major players in the tax management market are Avalara (US), Automatic Data Processing (US), Wolters Kluwer N.V (Netherlands), Thomson Reuters (Canada), Intuit (US), H&R Block (US), SAP SE (Germany), Blucora (US), Sovos Compliance (US), Vertex (US), Sailotech (US), Defmacro Software (India), DAVO Technologies (US), Xero (New Zealand), TaxSlayer (US), Taxback International (Ireland), TaxCloud (US), Drake Enterprises (US), Canopy Tax (US), and TaxJar (US).

The study includes an in-depth competitive analysis of these key players in the tax management market with their company profiles, recent developments, and key market strategies.

Scope of the report

Report Metric

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Million (USD)

Segments covered

Component, Tax Type, Deployment Mode, Organization Size, Vertical, and Region

Geographies covered

North America, APAC, Europe, Latin America, and MEA

Companies covered

Avalara (US), Automatic Data Processing (US), Wolters Kluwer N.V (Netherlands), Thomson Reuters (Canada), Intuit (US), H&R Block (US), SAP SE (Germany), Blucora (US), Sovos Compliance (US), Vertex (US), Sailotech (US), Defmacro Software (India), DAVO Technologies (US), Xero (New Zealand), TaxSlayer (US), Taxback International (Ireland), TaxCloud (US), Drake Enterprises (US), Canopy Tax (US), and TaxJar (US).

This research report categorizes the tax management market based on component, tax type, deployment mode, organization size, vertical, and region.

Based on Components, the tax management market has been segmented as follows:

  • Software
  • Services

Based on Tax Type, the tax management market has been segmented as follows:

  • Indirect Tax
  • Direct Tax

Based on Deployment Mode, the tax management market has been segmented as follows

  • Cloud
  • On-premises

Based on Organization Size, the tax management market has been segmented as follows:

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

Based on Vertical, the tax management market has been segmented as follows

  • Banking, Financial Services and Insurance (BFSI)
  • Information Technology (IT) and Telecom
  • Manufacturing
  • Energy and Utilities
  • Retail
  • Healthcare and Life Sciences
  • Media and Entertainment
  • Others (real estate and construction, and transportation and logistics)

Based on Region, the tax management market has been segmented as follows:

  • North America
    • United States (US)
    • Canada
  • Europe
    • United Kingdom (UK)
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
    • Japan
    • Rest of APAC
  • MEA
    • South Africa
    • Saudi Arabia
    • Rest of MEA
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Recent Developments

  • In February 2019, Avalara acquired Indix, the provider of an intelligent platform, which helps businesses in the analysis and visualization of information related to the products from various industries.
  • In December 2019, Wolters Kluwer introduced CCH Axcess Knowledge Coach, an audit module under its cloud-based tax preparation, compliance, and workflow management platform, CCH Axcess. This new solution provides auditors the flexibility of anywhere, anytime access, and improves the overall quality of auditing.

Critical questions the report answers:

  • What are the opportunities in tax management market?
  • What are new market segments to focus over the next 2–5 years for prioritizing the efforts and investments?
  • What is the competitive landscape in the market?
  • What are the trends in direct and indirect taxation?
  • Which region would offer a higher growth for the vendors in the market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
           1.2.1 Inclusions and Exclusions
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regions Covered
           1.3.3 Years Considered for the Study
    1.4 Currency Considered
    1.5 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakup of Primary Profiles
                    2.1.2.2 Key Industry Insights
    2.2 Market Breakup and Data Triangulation
    2.3 Tax Management Market Size Estimation
    2.4 Market Forecast
    2.5 Competitive Leadership Mapping Research Methodology
           2.5.1 Vendor Inclusion Criteria
    2.6 Assumptions for the Study

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Market Opportunities in the Market
    4.2 North America Tax Management Market,  By Component and Country
    4.3 Market Major Countries

5 Market Overview and Industry Trends (Page No. - 34)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Volume of Financial Transactions Across Verticals Due to Digitalization
                    5.2.1.2 Complex Nature of the Tax System
                    5.2.1.3 Vigilance By Tax Administrators
           5.2.2 Restraints
                    5.2.2.1 Increasing Theft of Confidential Data
           5.2.3 Opportunities
                    5.2.3.1 Use of the Blockchain Technology
           5.2.4 Challenges
                    5.2.4.1 Regular Amendments in Tax Laws
                    5.2.4.2 Lack of Standardized Tax Rules
    5.3 Use Cases
           5.3.1 Case Study 1: Integration of Transaction Tax Processes With Other Finance Applications From Different Geographic Locations
           5.3.2 Case Study 2: Implementing Automated Sales Tax Calculation Solution to Comply With Tax Rates of Each Country
           5.3.3 Case Study 3: Addressing Vat/Gst Challenges By Implementing Automatic Vat Recovery and Compliance Solution
    5.4 Monetization Model
           5.4.1 Scalable Pricing Model
           5.4.2 Pay Per Return Policy
           5.4.3 Freemium Pricing Model

6 Tax Management Market By Component (Page No. - 40)
    6.1 Introduction
    6.2 Software
           6.2.1 Software: Market Drivers
    6.3 Services
           6.3.1 Services: Global Market Drivers

7 Tax Management Market By Tax Type (Page No. - 44)
    7.1 Introduction
    7.2 Indirect Tax
           7.2.1 Indirect Tax: Market Drivers
    7.3 Direct Tax
           7.3.1 Direct Tax: Market Drivers

8 Tax Management Market By Deployment Mode (Page No. - 48)
    8.1 Introduction
    8.2 Cloud
           8.2.1 Cloud: Market Driver
    8.3 On-Premises
           8.3.1 On-Premises: Market Drivers

9 Tax Management Market By Organization Size (Page No. - 52)
    9.1 Introduction
    9.2 Small and Medium-Sized Enterprises
           9.2.1 Small and Medium-Sized Enterprises: Market Drivers
    9.3 Large Enterprises
           9.3.1 Large Enterprises: Market Drivers

10 Tax Management Market, By Vertical (Page No. - 56)
     10.1 Introduction
     10.2 Banking, Financial Services and Insurance
             10.2.1 Banking, Financial Services and Insurance: Market Drivers
     10.3 IT and Telecom
             10.3.1 IT and Telecom: Market Drivers
     10.4 Manufacturing
             10.4.1 Manufacturing: Market Drivers
     10.5 Energy and Utilities
             10.5.1 Energy and Utilities: Market Drivers
     10.6 Retail
             10.6.1 Retail: Market Drivers
     10.7 Healthcare and Life Sciences
             10.7.1 Healthcare and Lifesciences: Global Market Drivers
     10.8 Media and Entertainment
             10.8.1 Media and Entertainment: Market Drivers
     10.9 Others

11 Tax Management Market, By Region (Page No. - 66)
     11.1 Introduction
     11.2 North America
             11.2.1 North America: Market Drivers
             11.2.2 United States
             11.2.3 Canada
     11.3 Europe
             11.3.1 Europe: Market Drivers
             11.3.2 United Kingdom
             11.3.3 Germany
             11.3.4 France
             11.3.5 Rest of Europe
     11.4 Asia Pacific
             11.4.1 Asia Pacific: Market Drivers
             11.4.2 China
             11.4.3 Japan
             11.4.4 India
             11.4.5 Rest of Asia Pacific
     11.5 Middle East and Africa
             11.5.1 Middle East and Africa: Market Drivers
             11.5.2 South Africa
             11.5.3 Saudi Arabia
             11.5.4 Rest of Middle East and Africa
     11.6 Latin America
             11.6.1 Latin America: Market Drivers
             11.6.2 Brazil
             11.6.3 Mexico
             11.6.4 Rest of Latin America

12 Competitive Landscape (Page No. - 110)
     12.1 Introduction
     12.2 Competitive Scenario
             12.2.1 New Product/Solution Launches and Product Enhancements
             12.2.2 Business Expansions
             12.2.3 Acquisitions
     12.3 Competitive Leadership Mapping
             12.3.1 Visionary Leaders
             12.3.2 Dynamic Differentiators
             12.3.3 Innovators
             12.3.4 Emerging Companies

13 Company Profiles (Page No. - 115)
     13.1 Introduction
     13.2 Avalara
(Business Overview, Products and Solutions Offered, SWOT Analysis, Recent Developments, Organic Growth Strategies, and Inorganic Growth Strategies)*
     13.3 ADP
     13.4 Intuit
     13.5 Thomson Reuters
     13.6 Wolters Kluwer
     13.7 Blucora
     13.8 H&R Block
     13.9 SAP
     13.10 Sovos
     13.11 Vertex
     13.12 Canopy Tax
     13.13 DAVO Technologies
     13.14 Defmacro Software
     13.15 Drake Software
     13.16 Sailotech
     13.17 Taxback International
     13.18 TaxCloud
     13.19 TaxJar
     13.20 TaxSlayer
     13.21 Xero
*Details on Business Overview, Products and Solutions Offered, SWOT Analysis, Recent Developments, Organic Growth Strategies, and Inorganic Growth Strategies Might Not be Captured in Case of Unlisted Companies.
     13.22 Right to Win

14 Appendix (Page No. - 144)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’  Subscription Portal
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details


List of Tables (123 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Evaluation Criteria
Table 4 Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 5 Software: Market Size By Region, 2017–2024 (USD Million)
Table 6 Services: Market Size By Region, 2017–2024 (USD Million)
Table 7 Tax Management Market Size, By Tax Type, 2017–2024 (USD Million)
Table 8 Indirect Tax: Market Size By Region, 2017–2024 (USD Million)
Table 9 Direct Tax: Market Size By Region, 2017–2024 (USD Million)
Table 10 Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 11 Cloud: Market Size By Region, 2017–2024 (USD Million)
Table 12 On-Premises: Market Size By Region, 2017–2024 (USD Million)
Table 13 Market Size By Organization Size, 2017–2024 (USD Million)
Table 14 Small and Medium-Sized Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 15 Large Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 16 Tax Management Market Size, By Vertical, 2017–2024 (USD Million)
Table 17 Banking, Financial Services and Insurance: Market Size,  By Region, 2017–2024 (USD Million)
Table 18 IT and Telecom: Market Size By Region, 2017–2024 (USD Million)
Table 19 Manufacturing: Market Size By Region, 2017–2024 (USD Million)
Table 20 Energy and Utilities: Market Size By Region, 2017–2024 (USD Million)
Table 21 Retail: Tax Management Market Size, By Region, 2017–2024 (USD Million)
Table 22 Healthcare and Life Sciences: Market Size By Region,  2017–2024 (USD Million)
Table 23 Media and Entertainment: Market Size By Region,  2017–2024 (USD Million)
Table 24 Others: Market Size By Region, 2017–2024 (USD Million)
Table 25 Tax Management Market Size, By Region, 2017–2024 (USD Million)
Table 26 North America: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 27 North America: Market Size By Tax Type, 2017–2024 (USD Million)
Table 28 North America: Market Size By Deployment Mode,  2017–2024 (USD Million)
Table 29 North America: Market Size By Organization Size,  2017–2024 (USD Million)
Table 30 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 31 North America: Market Size By Country, 2017–2024 (USD Million)
Table 32 United States: Market Size By Component, 2017–2024 (USD Million)
Table 33 United States: Market Size By Tax Type, 2017–2024 (USD Million)
Table 34 United States: Market Size By Deployment Mode,  2017–2024 (USD Million)
Table 35 United States: Market Size By Organization Size,  2017–2024 (USD Million)
Table 36 Canada: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 37 Canada: Market Size By Tax Type, 2017–2024 (USD Million)
Table 38 Canada: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 39 Canada: Market Size By Organization Size, 2017–2024 (USD Million)
Table 40 Europe: Market Size By Component, 2017–2024 (USD Million)
Table 41 Europe: Market Size By Tax Type, 2017–2024 (USD Million)
Table 42 Europe: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 43 Europe: Market Size By Organization Size, 2017–2024 (USD Million)
Table 44 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 45 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 46 United Kingdom: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 47 United Kingdom: Market Size By Tax Type, 2017–2024 (USD Million)
Table 48 United Kingdom: Market Size By Deployment Mode,  2017–2024 (USD Million)
Table 49 United Kingdom: Market Size By Organization Size,  2017–2024 (USD Million)
Table 50 Germany: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 51 Germany: Market Size By Tax Type, 2017–2024 (USD Million)
Table 52 Germany: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 53 Germany: Market Size By Organization Size, 2017–2024 (USD Million)
Table 54 France: Tax Management Market Size, By Component,  2017–2024 (USD Million)
Table 55 France: Market Size By Tax Type, 2017–2024 (USD Million)
Table 56 France: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 57 France: Market Size By Organization Size, 2017–2024 (USD Million)
Table 58 Rest of Europe: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 59 Rest of Europe: Market Size By Tax Type, 2017–2024 (USD Million)
Table 60 Rest of Europe: Market Size By Deployment Mode,  2017–2024 (USD Million)
Table 61 Rest of Europe: Market Size By Organization Size,  2017–2024 (USD Million)
Table 62 Asia Pacific: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 63 Asia Pacific: Market Size By Tax Type, 2017–2024 (USD Million)
Table 64 Asia Pacific: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 65 Asia Pacific: Market Size By Organization Size, 2017–2024 (USD Million)
Table 66 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 67 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 68 China: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 69 China: Market Size By Tax Type, 2017–2024 (USD Million)
Table 70 China: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 71 China: Market Size By Organization Size, 2017–2024 (USD Million)
Table 72 Japan: Market Size By Component, 2017–2024 (USD Million)
Table 73 Japan: Market Size By Tax Type, 2017–2024 (USD Million)
Table 74 Japan: Market Size By Deployment Mode,  2017–2024 (USD Million)
Table 75 Japan: Market Size By Organization Size, 2017–2024 (USD Million)
Table 76 India: Market Size By Component, 2017–2024 (USD Million)
Table 77 India: Market Size By Tax Type, 2017–2024 (USD Million)
Table 78 India: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 79 India: Market Size By Organization Size, 2017–2024 (USD Million)
Table 80 Rest of Asia Pacific: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 81 Rest of Asia Pacific: Market Size By Tax Type, 2017–2024 (USD Million)
Table 82 Rest of Asia Pacific: Market Size By Deployment Mode,  2017–2024 (USD Million)
Table 83 Rest of Asia Pacific: Market Size By Organization Size,  2017–2024 (USD Million)
Table 84 Middle East and Africa: Tax Management Market Size, By Component,  2017–2024 (USD Million)
Table 85 Middle East and Africa: Market Size By Tax Type,  2017–2024 (USD Million)
Table 86 Middle East and Africa: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 87 Middle East and Africa: Market Size By Organization Size, 2017–2024 (USD Million)
Table 88 Middle East and Africa: Market Size By Vertical,  2017–2024 (USD Million)
Table 89 Middle East and Africa: Market Size By Country,  2017–2024 (USD Million)
Table 90 South Africa: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 91 South Africa: Market Size By Tax Type, 2017–2024 (USD Million)
Table 92 South Africa: Market Size By Deployment Mode,  2017–2024 (USD Million)
Table 93 South Africa: Market Size By Organization Size, 2017–2024 (USD Million)
Table 94 Saudi Arabia: Market Size By Component, 2017–2024 (USD Million)
Table 95 Saudi Arabia: Market Size By Tax Type, 2017–2024 (USD Million)
Table 96 Saudi Arabia: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 97 Saudi Arabia: Market Size By Organization Size, 2017–2024 (USD Million)
Table 98 Rest of Middle East and Africa: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 99 Rest of Middle East and Africa: Market Size By Tax Type, 2017–2024 (USD Million)
Table 100 Rest of Middle East and Africa: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 101 Rest of Middle East and Africa: Market Size By Organization Size, 2017–2024 (USD Million)
Table 102 Latin America: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 103 Latin America: Market Size By Tax Type, 2017–2024 (USD Million)
Table 104 Latin America: Market Size By Deployment Mode,  2017–2024 (USD Million)
Table 105 Latin America: Market Size By Organization Size,  2017–2024 (USD Million)
Table 106 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 107 Latin America: Market Size By Country, 2017–2024 (USD Million)
Table 108 Brazil: Tax Management Market Size, By Component, 2017–2024 (USD Million)
Table 109 Brazil: Market Size By Tax Type, 2017–2024 (USD Million)
Table 110 Brazil: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 111 Brazil: Market Size By Organization Size, 2017–2024 (USD Million)
Table 112 Mexico: Market Size By Component, 2017–2024 (USD Million)
Table 113 Mexico: Market Size By Tax Type, 2017–2024 (USD Million)
Table 114 Mexico: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 115 Mexico: Market Size By Organization Size, 2017–2024 (USD Million)
Table 116 Rest of Latin America: Tax Management Market Size, By Component,  2017–2024 (USD Million)
Table 117 Rest of Latin America: Market Size By Tax Type, 2017–2024 (USD Million)
Table 118 Rest of Latin America: Market Size By Deployment Mode, 2017–2024 (USD Million)
Table 119 Rest of Latin America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 120 New Product/Solution Launches and Product Developments, 2019
Table 121 Business Expansions, 2019
Table 122 Acquisitions, 2018–2019
Table 123 Evaluation Criteria
 
 
List of Figures (37 Figures)
 
Figure 1 Global Tax Management Market: Research Design
Figure 2 Method 1: Based on Companies’ Revenue From Tax Management Software and Services (Top-Down)
Figure 3 Method 2: Vertical Level (Bottom-Up)
Figure 4 Tax Management Market Overview
Figure 5 Highest-Growing Segments of the Tax Management Market
Figure 6 Software Segment to Account for a Larger Market Size During the Forecast Period
Figure 7 Indirect Tax Segment to Hold a Larger Market Size in 2019
Figure 8 Cloud Segment to Hold a Larger Market Size During the Forecast Period
Figure 9 Banking, Financial Services and Insurance Segment to Hold the Largest Market Size During the Forecast Period
Figure 10 Tax Management Market: Regional Snapshot
Figure 11 Rising Demand for Advanced Tax Compliance Systems for Tackling Tax Complexities to Drive the Market
Figure 12 Software Segment and the United States to Dominate the North American Tax Management Market in 2019
Figure 13 Tax Management Market in India to Grow at the Highest Rate During the Forecast Period
Figure 14 Drivers, Restraints, Opportunities, and Challenges 
Figure 15 Services Segment to Grow at a Higher Rate During the Forecast Period
Figure 16 Direct Tax Segment to Grow at a Higher Rate During the Forecast Period
Figure 17 Cloud Segment to Grow at a Higher Rate During the Forecast Period
Figure 18 Small and Medium-Sized Enterprises Segment to Grow at a Higher Rate During the Forecast Period
Figure 19 Banking, Financial Services and Insurance Vertical to Grow at the Highest Rate During the Forecast Period
Figure 20 Asia Pacific to Grow at the Highest Rate During the Forecast Period
Figure 21 North America: Market Snapshot
Figure 22 Asia Pacific: Market Snapshot
Figure 23 Key Developments By the Leading Players in the  Tax Management Market, 2018–2019
Figure 24 Tax Management Market (Global) Competitive Leadership Mapping, 2019
Figure 25 Avalara: Company Snapshot
Figure 26 Avalara: SWOT Analysis
Figure 27 ADP: Company Snapshot
Figure 28 ADP: SWOT Analysis
Figure 29 Intuit: Company Snapshot
Figure 30 Intuit: SWOT Analysis
Figure 31 Thomson Reuters: Company Snapshot
Figure 32 Thomson Reuters: SWOT Analysis
Figure 33 Wolters Kluwer: Company Snapshot
Figure 34 Wolters Kluwer: SWOT Analysis
Figure 35 Blucora: Company Snapshot
Figure 36 H&R Block: Company Snapshot
Figure 37 SAP: Company Snapshot

The study involved four major activities in estimating the current market size for tax management software and services. An exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakup and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources, such as Green Grid, Uptime Institute, and BusinessWeek, have been referred to, for identifying and collecting information for this study. The secondary sources included annual reports, press releases, and investor presentations of companies; white papers; journals; and certified publications and articles from recognized authors, directories, and databases.

Primary Research

Various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Chief Marketing Officers (CMO), Vice Presidents (VPs), Managing Directors (MDs), technology and innovation directors, and related key executives from various key companies and organizations operating in the tax management market along with the associated service providers, and System Integrators (SIs) operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. Following is the breakup of primary respondents:

Tax Management Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

For making market estimates and forecasting the tax management market, and the other dependent submarkets, top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global tax management market using key companies’ revenue and their offerings in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the market have been identified through extensive secondary research.
  • The market size, in terms of value, has been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources.

Data Triangulation

With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.

Report Objectives

  • To define, describe, and forecast the tax management market by component (software and services), tax type, deployment mode, organization size, vertical, and region
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the tax management market
  • To analyze the market with respect to individual growth trends, prospects, and contributions to the tax management market
  • To forecast the market size of five main regions: North America, Europe, Asia Pacific (APAC), MEA, and Latin America
  • To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
  • To profile the key players in the market and comprehensively analyze their core competencies in each subsegment
  • To analyze the competitive developments, such as new product launches and product enhancements, partnerships, collaborations, and acquisitions

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

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Report Code
TC 7531
Published ON
Feb, 2020
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