税務管理の世界市場予測 2024年：コンポーネント (ソフトウェア・サービス)、税の種類 (間接税・直接税)、展開形態 (クラウド・オンプレミス)、企業規模 (SME・大企業)、垂直産業・地域
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
|出版日||ページ情報||英文 155 Pages
|税務管理の世界市場予測 2024年：コンポーネント (ソフトウェア・サービス)、税の種類 (間接税・直接税)、展開形態 (クラウド・オンプレミス)、企業規模 (SME・大企業)、垂直産業・地域 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|
|出版日: 2020年02月06日||ページ情報: 英文 155 Pages||
"Increasing volume of financial transactions across verticals due to digitalization, complex nature of the tax system, and vigilance of tax administrators."
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.
The intensely competitive market scenario has encouraged Small and Medium-sized Enterprises (SMEs) to adopt tax management software and services for faster and cost-effective compliance. For instance, the Internal Revenue Service (IRS) estimates that businesses with less than USD 1 million in revenue have to incur almost two-thirds of business compliance costs. Usually, such costs are larger, relative to revenues or assets, for SMEs than for large enterprises. Additionally, due to the complex tax codes, SMEs can understate their revenues and overstate their expenses and thus underpay their taxes. These challenges have further driven the adoption of tax management software and services from SMEs.
Banking, Financial Institutes and Insurance (BFSI) is a vertical characterized by the 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. BFSI includes domestic and foreign banks, insurance and reinsurance companies, asset management companies, non-banking finance companies. Increasing number of financial transactions is one of the major factors driving the adoption of tax management software in the BFSI vertical.
The high growth of the market in Asia Pacific (APAC) is attributed to the increasing adoption of tax management software to match the rapid pace of advancement. However, low awareness about the benefits of tax management software and services poses a big hurdle in tax management software adoption across the region.
In-depth interviews were conducted with the 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.
The tax management market comprises major providers, such as 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.
The tax management market revenue is primarily classified into revenues from software and services. The market is also segmented by tax type, deployment mode, organization size, vertical, and region.
The report would help market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall tax management market and the subsegments. This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report would also help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
(Business Overview, Products and Solutions Offered, SWOT Analysis, Recent Developments, Organic Growth Strategies, and Inorganic Growth Strategies)*
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.