Tax Software Market: Introduction
Transparency Market Research delivers key insights on the global tax software market. In terms of revenue, the global tax software market is estimated to expand at a CAGR of ~12% during the forecast period from 2020 to 2030, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global tax software market.
The global tax software market is broadly affected by several factors that include convergence of digital devices and technologies with traditional business processes, and a rapidly changing industrial environment, which are gradually enhancing the demand for tax software, thus accelerating the growth of the tax software market across the world. The report analyzes the global tax software market and provides estimates in terms of revenue (US$ Mn) from 2018 to 2030.
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Tax Software Market: Market Dynamics
The tax market is heading toward digital transformation. Today, taxpayers use a range of digital services to manage their tax affairs, and more than 85% of self-assessment tax returns are carried out online. Large and small & medium enterprises are active in delivering digital accounts to shape a bold vision for the future of the tax system. This is expected to be one of the important factors that can drive the growth of the tax software market. With the implementation of digital solutions, taxpayers will obtain a real-time view of their tax affairs and witness how their tax is calculated. They are also able to check how much tax they owe or need to be reimbursed and monitor their decisions for paying securely. This is also set to trigger the growth of the tax software market during the forecast period.
According to the U.K. Government, individuals and enterprises who pay their tax through PAYE have their income tax, National Insurance contributions, and pension position shown in their digital tax accounts, including any interest from banks and building societies, which, in turn, is expected to enhance the growth of the tax software market. Furthermore, enterprises have adopted the ‘pay as you go’ option to manage their cash flow, wherein rather than making a number of payments across different taxes, they pay a single tax.
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According to a survey conducted by GOBankingRates, a financial firm based in the U.S, 35.4% of the U.S. population prefer the digital option for tax payments due to the lower costs associated with digital filing, as well as the ease of using a program to automate calculations and file online.
Tax Software Market: Prominent Regions
In terms of region, the global tax software market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is a developed region and hence, innovations and new technologies are expected to be key trends in the region over the next few years. North America held a prominent share of the global tax software market in 2020 and is expected to retain supremacy in the market, due to the presence of prominent players and government funding for deploying tax software to provide security and tax management solutions. Governments of countries in North America are leveraging digital platforms to assess taxpayer data, including cross-referencing information at the source, running it through increasingly sophisticated analytics, and sharing it among enterprises. The U.S. is estimated to hold a notable share of the tax software market in North America and the market in the country is projected to expand at a CAGR of 12.8% during the forecast period, as the maximum number of enterprises within North America are based in the U.S. For the same reason, North America is expected to witness the highest opportunity addition in the market globally, with Europe and Asia Pacific being the next close regions.
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The tax software market in Europe is projected to witness favorable growth during the forecast period, due to increasing awareness about tax software by developing tax processes and reporting framework through use of Information and Communications Technology.
The market in Asia Pacific is expected to experience substantial growth during the forecast period. This is mainly due to the adoption of tax software in Singapore, China, India, Malaysia, Taiwan, etc. Additionally, Asia Pacific is the fastest growing market as adoption of tax software in small and large size enterprises drives the growth of the market.
The report provides in-depth segment analysis of the global tax software market, thereby providing valuable insights at macro as well as micro levels. The analysis of major countries which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the tax software market.
Tax Software Market: Key Players
Key players operating in the global tax software market are Automatic Data Processing, Inc., Avalara Blucora, Inc., Chetu, Inc., Drake Software, H&R Block, Intuit Inc., Sage Tax & Financial Solutions, TaxSlayer LLC, Thomson Reuters Corporation, Vertex, Inc., Wolters Kluwer N.V. (Kluwer Publishers and Wolters Samsom), and Xero Limited.
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SEP 30 2020: Taxi And Limousine Services Global Market Opportunities And Strategies To 2030: COVID 19 Impact and Recovery report from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global taxi and limousine services market.Description:Where is the largest and fastest growing market for the taxi and limousine services market?
The global taxi and limousine services global market opportunities and strategies to 2030: COVID 19 impact and recovery report from the Business Research Company answers all these questions and many more.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/taxi-and-limousine-services-global-market/request-sampleThe report covers the following chaptersExecutive Summary – The executive summary section of the report gives a brief overview and summary of the reportReport Structure – This section gives the structure of the report and the information covered in the various sections.Introduction – This section gives the segmentation of the taxi and limousine services market by geography, by type of service, by vehicle type, by payment mode, and by ride type covered in this report.Market Characteristics – The market characteristics section of the report defines and explains the taxi and limousine services market.
This chapter includes different goods/services covered in the report and basic definitions.Product/Service Analysis – The product/service analysis section of the report describes the leading services in the market along with key features and differentiators for those services.Supply Chain – The supply chain section of the report defines and explains the key players in the taxi and limousine services industry supply chain.Customer Information – This chapter covers recent customers’ trends/preferences in the global taxi and limousine services market.Trends And Strategies – This chapter describes the major trends shaping the global taxi and limousine services market.
This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.Technology and Digital Revolution Impact on Taxi and Limousine Services Market– This chapter describes the technology penetration and impact of digital revolution on the taxi and limousine services market.Impact Of Covid-19 On Taxi And Limousine Services – This chapter describes the impact of Coronavirus disease (COVID-19) outbreak in most affected coronavirus countries on the taxi and limousine services market and initiatives taken by taxi services companies amid coronavirus situation.Policy & Regulatory Landscape For Taxi And Limousine Services – This chapter describes the regulations for taxi and limousine services for various regions.Benefits and Impacts of Advertising on Ride Hailing Taxis– This chapter describes the benefits of using cabs for advertisements and impact of taxi advertising on the taxi and limousine services.Global Market Size And Growth – This section contains the global historic (2015-2019) and forecast (2019-2023) market values, and drivers and restraints that support and restrain the growth of the market in the historic and forecast periods.Regional Analysis – This section contains the historic (2015-2019), forecast (2019-2023) market value and growth and market share comparison by region.Segmentation – This section contains the market values (2015-2023) and analysis for different segments in the market.Global Macro Comparison – The global taxi and limousine services market comparison with macro-economic factors gives the taxi and limousine services market size, percentage of GDP, and average taxi and limousine services market expenditure.Regional Market Size and Growth – This section contains the region’s market size (2019), historic and forecast (2015-2023) market values, and growth and market share comparison of major countries within the region.
This chapter includes the transit and ground passenger transportation market 2015-23 values, and regional analyses for the transit and ground passenger transportation market.Market Opportunities And Strategies– This section includes market opportunities and strategies based on findings of the research.
It gives an understanding of where there is significant business to be gained by competitors in the next five years.Conclusions And Recommendations – This section includes conclusion and recommendations based on findings of the research.
Overview: The tax and accounting software market is witnessing a notable growth where the CAGR could touch a 7.9% mark during the forecast period of 2019 to 2025.
Market Research Future (MRFR) found several factors while analyzing the market that could support the growth of this market.
These factors are cost-effective nature of the software, ability to perform tasks without spending much time, easy installation process, rising demand from the developing countries, robust percolation across various end user industries, and others.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8694Segmentation: The global tax and accounting software market, as discussed in detail by MRFR analysts, has been studied based on a segmentation that includes organization size, deployment mode, software type, and vertical.
The cloud segment is getting substantial traction as it supports remote operations.
Industry News:In August 2020, Verady, one of the foremost cryptocurrency tax and accounting software company, declared that Mazars in South Africa international audit, tax and advisory firm opted for Ledgible to ensure a proper supply of confirmation and reporting for its clients’ various digital currency audits.
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Asia-Pacific’s paint and coating industry is anticipated to rise at a staggering CAGR in the forecast period due to increase in demand for paint and coating products coupled with vast presence of paint manufacturers in these regions.
