Market Overview:
The global tax compliance software market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for tax compliance software from small businesses and individuals, midsize enterprise, and large enterprise applications. North America is expected to hold the largest share of the global tax compliance software market in 2018, followed by Europe and Asia Pacific.
Product Definition:
Tax compliance software is a type of software that helps businesses and individuals comply with tax laws. This type of software can help businesses keep track of their income and expenses, file taxes, and more. The importance of tax compliance software lies in its ability to help businesses stay compliant with tax laws, which can help them avoid penalties and fines.
Direct Tax Compliance Software:
Direct tax compliance software is used by companies having a Tax Identification Number (TIN) to file their income tax returns and pay taxes due on profits. The Direct Tax Compliance Software market is expected to witness significant growth over the forecast period owing to the increasing need for automation in taxation processes.
The global direct tax compliance software market was valued at USD 1,078 million in 2015.
Indirect Tax Compliance Software:
Indirect tax compliance software is used by companies to comply with the indirect tax regulations such as Value Added Tax (VAT), Excise Tax, and customs & duties. Indirect tax compliance software helps in maintaining a record of all transactions made by an organization and also provides information on whether the company has incurred any indirect taxes or not.
The global indirect tax compliance software market size was valued at USD 648.1 million in 2016.
Application Insights:
The small business and individuals segment accounted for the largest revenue share in 2016. This can be attributed to the increasing number of startups across the globe. The U.S., India, Germany and China are leading in terms of number of startups as well as FDI (foreign direct investment). The large enterprise segment is expected to witness a highest CAGR over the forecast period owing to growing demand from MNCs ( multinational corporations) companies for their offshore accounts or subsidiaries. Offshore financial centers provide services such as legal assistance with respect to formation of an offshore company or trust; advice on structuring contracts with third parties; assist in obtaining banking facilities; assist in finding trustees and directors for offshore entities etc - all these factors are anticipated to boost market growth over the forecast period.
Regional Analysis:
The North American region dominated the global market in 2017. The growth can be attributed to the presence of a large number of multinational companies and high level of digitalization in economies, such as the U.S. and Canada.
Asia Pacific is expected to emerge as one of the fastest-growing regions over the forecast period owing to increasing government focus on revenue generation from indirect taxes such as value added goods & services tax (VAT), excise duty, import duties etc.
Growth Factors:
- Increasing demand for tax compliance software from small and medium-sized businesses (SMBs) due to the growing complexity of tax laws and regulations.
- The need for automated tax compliance solutions in order to reduce the cost and time spent on preparing, filing, and managing taxes.
- Rising demand for cloud-based tax compliance software as it enables businesses to access their data from any location at any time.
- Growing adoption of Tax Compliance Software by enterprises as it helps them manage their global taxation needs more efficiently.
Scope Of The Report
Report Attributes
Report Details
Report Title
Tax Compliance Software Market Research Report
By Type
Direct Tax Compliance Software, Indirect Tax Compliance Software
By Application
Small Business and Individuals, Midsize Enterprise, Large Enterprise
By Companies
Vertex, SOVOS, H&R Block, EGov Systems, Intuit Inc., Xero, Thomson Reuters, Exactor, Wolters Kluwer, FedTax, Drake Software, BLUCORA, LumaTax, LegalRaasta.com, Service Objects, TaxAct, TaxCut, TurboTax, CompleteTax
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
136
Number of Tables & Figures
96
Customization Available
Yes, the report can be customized as per your need.
Global Tax Compliance Software Market Report Segments:
The global Tax Compliance Software market is segmented on the basis of:
Types
Direct Tax Compliance Software, Indirect Tax Compliance Software
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Small Business and Individuals, Midsize Enterprise, Large Enterprise
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Vertex
- SOVOS
- H&R Block
- EGov Systems
- Intuit Inc.
- Xero
- Thomson Reuters
- Exactor
- Wolters Kluwer
- FedTax
- Drake Software
- BLUCORA
- LumaTax
- LegalRaasta.com
- Service Objects
- TaxAct
- TaxCut
- TurboTax
- CompleteTax
Highlights of The Tax Compliance Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Direct Tax Compliance Software
- Indirect Tax Compliance Software
- By Application:
- Small Business and Individuals
- Midsize Enterprise
- Large Enterprise
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Tax Compliance Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Tax compliance software is a computer program that helps businesses and individuals comply with their tax obligations. The software can help you track your income, expenses, and taxes owed. It can also provide tips on how to reduce your tax burden.
Some of the key players operating in the tax compliance software market are Vertex, SOVOS, H&R Block, EGov Systems, Intuit Inc., Xero, Thomson Reuters, Exactor, Wolters Kluwer, FedTax, Drake Software, BLUCORA, LumaTax, LegalRaasta.com, Service Objects, TaxAct, TaxCut, TurboTax, CompleteTax.
The tax compliance software market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Tax Compliance Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Tax Compliance Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Tax Compliance Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Tax Compliance Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Tax Compliance Software Market Size & Forecast, 2018-2028
4.5.1 Tax Compliance Software Market Size and Y-o-Y Growth
4.5.2 Tax Compliance Software Market Absolute $ Opportunity
Chapter 5 Global Tax Compliance Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Tax Compliance Software Market Size Forecast by Type
5.2.1 Direct Tax Compliance Software
5.2.2 Indirect Tax Compliance Software
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Tax Compliance Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Tax Compliance Software Market Size Forecast by Applications
6.2.1 Small Business and Individuals
6.2.2 Midsize Enterprise
6.2.3 Large Enterprise
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Tax Compliance Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Tax Compliance Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Tax Compliance Software Analysis and Forecast
9.1 Introduction
9.2 North America Tax Compliance Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Tax Compliance Software Market Size Forecast by Type
9.6.1 Direct Tax Compliance Software
9.6.2 Indirect Tax Compliance Software
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Tax Compliance Software Market Size Forecast by Applications
9.10.1 Small Business and Individuals
9.10.2 Midsize Enterprise
9.10.3 Large Enterprise
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Tax Compliance Software Analysis and Forecast
10.1 Introduction
10.2 Europe Tax Compliance Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Tax Compliance Software Market Size Forecast by Type
10.6.1 Direct Tax Compliance Software
10.6.2 Indirect Tax Compliance Software
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Tax Compliance Software Market Size Forecast by Applications
10.10.1 Small Business and Individuals
10.10.2 Midsize Enterprise
10.10.3 Large Enterprise
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Tax Compliance Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Tax Compliance Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Tax Compliance Software Market Size Forecast by Type
11.6.1 Direct Tax Compliance Software
11.6.2 Indirect Tax Compliance Software
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Tax Compliance Software Market Size Forecast by Applications
11.10.1 Small Business and Individuals
11.10.2 Midsize Enterprise
11.10.3 Large Enterprise
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Tax Compliance Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Tax Compliance Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Tax Compliance Software Market Size Forecast by Type
12.6.1 Direct Tax Compliance Software
12.6.2 Indirect Tax Compliance Software
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Tax Compliance Software Market Size Forecast by Applications
12.10.1 Small Business and Individuals
12.10.2 Midsize Enterprise
12.10.3 Large Enterprise
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Tax Compliance Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Tax Compliance Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Tax Compliance Software Market Size Forecast by Type
13.6.1 Direct Tax Compliance Software
13.6.2 Indirect Tax Compliance Software
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Tax Compliance Software Market Size Forecast by Applications
13.10.1 Small Business and Individuals
13.10.2 Midsize Enterprise
13.10.3 Large Enterprise
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Tax Compliance Software Market: Competitive Dashboard
14.2 Global Tax Compliance Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Vertex
14.3.2 SOVOS
14.3.3 H&R Block
14.3.4 EGov Systems
14.3.5 Intuit Inc.
14.3.6 Xero
14.3.7 Thomson Reuters
14.3.8 Exactor
14.3.9 Wolters Kluwer
14.3.10 FedTax
14.3.11 Drake Software
14.3.12 BLUCORA
14.3.13 LumaTax
14.3.14 LegalRaasta.com
14.3.15 Service Objects
14.3.16 TaxAct
14.3.17 TaxCut
14.3.18 TurboTax
14.3.19 CompleteTax
