The global tax
management market is foreseen to grow by 12.6%, from USD 19.54 Billion in 2021
to USD 50.49 Billion in 2029. Increasing volume of financial transactions
across verticals due to digitalization, complex nature of the tax system, vigilance
by tax administrators is to drive the market for the upcoming forecast period.
However, increasing theft of confidential data remains one factor hindering the
market growth over the anticipated period.
What is Tax management?
Tax management refers to the management of finances, for
the purpose of paying taxes. Tax management deals with filing Returns in time,
getting the accounts audited, deducting tax at source etc. Tax management helps
in avoiding payment of interest, penalty, prosecution.
Tax management market search study helps to thoroughly understand the
current trend in the market competitive analysis of the players in the emerging
market. Moreover, the DRO in the Tax management market offers valuable
perspicuity and a current scenario for making the right decision. The research
study covers the eminent players in the market with a detailed analysis of the
company and a financial overview containing their net sales, business mix and
geographical reach It mainly focuses on the key developments of the
products/services offered by the company in recent years. Besides, we at
Zettabyte have the expertise to analyses the global Tax management market player's
competitive landscape helping the client comprehend their specific strategic
market study by "Zettabyte Analytics" offers details about the market
scope, market segmentation, technological advancement in the Tax management
market and highlights the optimistic, competitive landscape and trends enduring
over the years.
Major players in the
tax management market include Adp, Avalara, Blucora, Canopy Tax, Davo
Technologies, Defmacro Software, Drake Software, Exemptax, H&R Block,
Intuit, Lovat Software, Safesend, Sailotech, Sales Tax Datalink, Sap, Sovos,
Taxback International, Taxcloud, Taxjar, Taxslayer, Thomson Reuters, Vertex,
Webgility, Wolters Kluwer, Xero.
COVID-19 Impact on Global Tax
The global impact
of COVID-19 has lost millions of lives with a massive cost to the healthcare
system. Moreover, the treatment cost for patients with COVID-19 has also had a
financial impact globally. the impact of COVID-19 on the Tax management market
has forced the companies to change their sourcing, pricing, and promotion
strategies. the Tax management market players are seen focusing more on
optimizing the e-commerce networks with the rising innovations in the digital
sector, which are creating new business models for the information &
communications technology industry player.
provides market value for the base year 2021 and a yearly forecast from 2022 to
2029 in revenue (USD Million/ Billion). the market for each segment is present
in North America, Europe, Asia Pacific, Latin America, Middle East &
Africa, and the regional basis for the forecast mentioned above.
dynamics, regulatory scenarios, major material dynamics and Tax management
market future markets are analyzed to understand their impact on demand for the
forecast period. growth rates have been estimated using correlation, regression
and time-series analysis.
For the purpose
of this report, the global Tax management market segmented on the basis of component
type, tax type, organization size, deployment mode, and region:
Component Type Outlook:
On the basis of
component type, the market is segmented into software, services.
Tax Type Outlook:
On the basis of
tax type, the market is segmented into indirect tax, direct tax.
Figure 1 Tax Management Market By Tax Type (Market
Size And Forecast By Value - USD Million, 2021 & 2029)