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Global Tax Software Market (2021-2026) by Offering Type, Deployment, Application and Geography - Competitive Analysis, Impact of COVID-19, Ansoff Analysis

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  • 194 Pages
  • March 2021
  • Region: Global
  • Infogence Global Research
  • ID: 5359455
The Global Tax Software Market is estimated to be worth USD 12.7 Billion in 2021 and is expected to reach USD 18 Billion by 2026, growing at a CAGR of 7.25%.

Market Dynamics

Increasing demand for automated solutions by financial institutions is driving the market. In addition, increasing investment in digital solutions and increasing adoption of electronic accounting is boosting the market growth.

Data privacy issues and security concerns associated with the tax software are hindering the market. Whereas, limitations with managed tax services model and networking issues associated with such software are creating challenge for the market.

Integration of software with Blockchain and AI will create a lot of growth opportunities for the market. Also, potential adoption by the Government agencies will also help the market to grow.

Market Segmentation

The Global Tax Software Market is segmented based on Offering Type, Deployment, Application, and Geography.

  • By Offering Type, the market is classified into standalone and integrated solutions. Out of two Standalone software holds the largest share of the market.
  • By Deployment, the market is classified into On-Cloud and On-Premises. The On-Premises contributes largest share of the market.
  • By Application, the market is classified into Small Business and Individuals, Midsize Enterprise and Large Enterprise. The SME’s product contributes largest share of the market.
  • By Geography, Americas is projected to lead the market.

Recent Developments

  1. January 2021- Cygnet Infotech, a business software maker, has updated its Financial Accounting Comprehensive and Easy (FACE) accounting software platform.
  2. Avalara has acquired Inposia Solutions, a leading invoicing & tax reporting software company.

Company Profiles

Some of the companies covered in this report are Automatic Data Processing, Inc., Avalara, Blucora, Inc., Chetu, Inc., Drake Software, EGov Systems, Exactor, FedTax, H&R Block, Intuit Inc., LegalRaasta.com, LumaTax, Sage Tax & Financial Solutions, Service Objects, SOVOS, Wolters Kluwer, Xero Limited, etc.

Competitive Quadrant

The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

The report offers a comprehensive evaluation of the Global Tax Software Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.

The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel within the industry.

The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of COVID-19 on the market is also featured in the report.

The report also contains the competitive analysis using the Competitive Quadrant, the analyst's proprietary competitive positioning tool.

Report Highlights

  • A complete analysis of the market, including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the Global Tax Software Market

What is the estimated value of the Global Tax Software Market?

The Global Tax Software Market was estimated to be valued at $12700 Million in 2021.

What is the growth rate of the Global Tax Software Market?

The growth rate of the Global Tax Software Market is 7.2%, with an estimated value of $18000 Million by 2026.

What is the forecasted size of the Global Tax Software Market?

The Global Tax Software Market is estimated to be worth $18000 Million by 2026.

Who are the key companies in the Global Tax Software Market?

Key companies in the Global Tax Software Market include Automatic Data Processin. Inc., Avalara, Blucor. Inc., Chet. Inc., Drake Software, EGov Systems, Exactor, FedTax and Intuit Inc..

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers Increasing demand for automated solution by financial institutions Rapid investment in digital solutions and electronics accounting
4.2.2 Restraints Data privacy and security concerns
4.2.3 Opportunities Integration of with Blockchain and AI Potential adoption by Government agencies
4.2.4 Challenges Limitations with managed tax services model Networking Issues
4.3 Trends
5 Market Analysis
5.1 Porter’s Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Tax Software Market, By Offering Type
6.1 Introduction
6.2 Standalone
6.3 Integrated
7 Global Tax Software Market, By Deployment
7.1 Introduction
7.2 On-Cloud
7.3 On-Premises
8 Global Tax Software Market, By End-User
8.1 Introduction
8.2 Small Business and Individuals
8.3 Midsize Enterprise
8.4 Large Enterprise
9 Global Tax Software Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 South America
9.3.1 Brazil
9.3.2 Argentina
9.4 Europe
9.4.1 UK
9.4.2 France
9.4.3 Germany
9.4.4 Italy
9.4.5 Spain
9.4.6 Rest of Europe
9.5 Asia-Pacific
9.5.1 China
9.5.2 Japan
9.5.3 India
9.5.4 Indonesia
9.5.5 Malaysia
9.5.6 South Korea
9.5.7 Australia
9.5.8 Russia
9.5.9 Rest of APAC
9.6 Rest of the World
9.6.1 Qatar
9.6.2 Saudi Arabia
9.6.3 South Africa
9.6.4 United Arab Emirates
9.6.5 Latin America
10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Competitive Scenario
10.3.1 Mergers & Acquisitions
10.3.2 Agreement, Collaborations, & Partnerships
10.3.3 New Product Launches & Enhancements
10.3.4 Investments & Funding
11 Company Profiles
11.1 Automatic Data Processing, Inc.
11.2 Avalara
11.3 Blucora, Inc.
11.4 Chetu, Inc.
11.5 Drake Software
11.6 EGov Systems
11.7 Exactor
11.8 FedTax
11.9 H&R Block
11.10 Intuit Inc.
11.11 LegalRaasta.com
11.12 LumaTax
11.13 Sage Tax & Financial Solutions
11.14 Service Objects
11.15 SOVOS
11.16 TaxSlayer LLC
11.17 Thomson Reuters Corporation
11.18 Vertex, Inc.
11.19 Wolters Kluwer
11.20 Xero Limited
12 Appendix
12.1 Questionnaire

Companies Mentioned

  • Automatic Data Processin. Inc.
  • Avalara
  • Blucor. Inc.
  • Chet. Inc.
  • Drake Software
  • EGov Systems
  • Exactor
  • FedTax
  • H&R Block
  • Intuit Inc.
  • LegalRaasta.com
  • LumaTax
  • Sage Tax & Financial Solutions
  • Service Objects
  • TaxSlayer LLC
  • Thomson Reuters Corporation
  • Verte. Inc.
  • Wolters Kluwer
  • Xero Limited