The global tax software market is anticipated to grow with a CAGR of 10.9% over the forecast period, i.e., 2022-2031, factors such as growing penetration of smartphones, along with significant penetration of internet are projected to drive the market growth. Additionally, growing adoption of digital tools and growth in digital financial transactions is further anticipated to boost the market growth. The market is estimated to garner a revenue of more than USD 42,500 Million by the end of 2031, up from a revenue of near to USD 15,200 Million in the year 2021.
The global tax software market is segmented into numerous segment, which includes segmentation by deployment, tax type, end user, component, and by industry vertical. By deployment, the market is segmented into cloud, and on-premises. By the end of 2031, the cloud segment is anticipated to garner the highest CAGR of around 11% during the forecast period.
On the basis of region, the global tax software market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in the North America is anticipated to garner the largest revenue of more than USD 14,200 million by the end of 2031. Moreover, in the year 2021, the market in the region generated a revenue of over USD 5,200 Million.
Some of the prominent industry leaders in the global tax software market that are included in the report are SAP SE, Drake Software, Avalara, Inc., Wolters Kluwer N.V., Intuit Inc., ADP, Inc., Thomson Reuters, Vertex, Inc., Sovos Compliance, LLC, HRB Digital LLC, and others.
The global tax software market is segmented into numerous segment, which includes segmentation by deployment, tax type, end user, component, and by industry vertical. By deployment, the market is segmented into cloud, and on-premises. By the end of 2031, the cloud segment is anticipated to garner the highest CAGR of around 11% during the forecast period.
On the basis of region, the global tax software market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in the North America is anticipated to garner the largest revenue of more than USD 14,200 million by the end of 2031. Moreover, in the year 2021, the market in the region generated a revenue of over USD 5,200 Million.
Some of the prominent industry leaders in the global tax software market that are included in the report are SAP SE, Drake Software, Avalara, Inc., Wolters Kluwer N.V., Intuit Inc., ADP, Inc., Thomson Reuters, Vertex, Inc., Sovos Compliance, LLC, HRB Digital LLC, and others.
Table of Contents
1. Market Definition and Research Methodology1.1. Market Definition
1.2. Research Objective
1.3. Research Methodology
2. Executive Summary
3. Market Dynamics
3.1. Drivers
3.2. Restraint
3.3. Trends
3.4. Opportunities
4. Regulatory & Standards Landscape
5. Industry Value Chain Analysis
6. Impact of COVID-19 on the Global Tax Software Market
7. Competitive Landscape
7.1. Market Share Analysis, 2021
7.2. Competitive Benchmarking
7.3. SAP SE
7.3.1. Detailed Overview
7.3.2. Assessment of Key Offering
7.3.3. Analysis of Growth Strategies
7.3.4. Exhaustive Analysis on Key Financial Indicators
7.3.5. Recent Developments
7.4. Drake Software
7.5. Avalara, Inc
7.6. Wolters Kluwer N.V.
7.7. Intuit Inc
7.8. ADP, Inc
7.9. Thomson Reuters
7.10. Vertex, Inc
7.11. Sovos Compliance, LLC
7.12. HRB Digital LLC
7.13. Other major players
8. Global Tax Software Market Outlook
8.1. Market Overview
8.2. By Value (USD million)
8.3. Global Tax Software Segmentation Analysis (2021-2031)
8.3.1. By Component
8.3.1.1. Software, 2021-2031F (USD million)
8.3.1.2. Services, 2021-2031F (USD million)
8.3.2. By Deployment
8.3.2.1. Cloud, 2021-2031F (USD million)
8.3.2.2. On-premises, 2021-2031F (USD million)
8.3.3. By Tax Type
8.3.3.1. Direct Tax, 2021-2031F (USD million)
8.3.3.2. Indirect Tax, 2021-2031F (USD million)
8.3.4. By End User
8.3.4.1. Individuals, 2021-2031F (USD million)
8.3.4.2. Commercial Enterprises, 2021-2031F (USD million)
8.3.5. By Industry Vertical
8.3.5.1. Banking, Financial Services & Insurance, 2021-2031F (USD million)
8.3.5.2. Telecom & IT, 2021-2031F (USD million)
8.3.5.3. Manufacturing, 2021-2031F (USD million)
8.3.5.4. Retail, 2021-2031F (USD million)
8.3.5.5. Others, 2021-2031F (USD million)
8.3.6. By Region
8.3.6.1. North America, 2021-2031F (USD million)
8.3.6.2. Europe, 2021-2031F (USD million)
8.3.6.3. Asia Pacific, 2021-2031F (USD million)
8.3.6.4. Latin America, 2021-2031F (USD million)
8.3.6.5. Middle East and Africa, 2021-2031F (USD million)
9. North America Tax Software Market Outlook
9.1. Market Overview
9.2. By Value (USD million)
9.3. North America Tax Software Segmentation Analysis (2021-2031)
9.3.1. By Component
9.3.1.1. Software, 2021-2031F (USD million)
9.3.1.2. Services, 2021-2031F (USD million)
9.3.2. By Deployment
9.3.2.1. Cloud, 2021-2031F (USD million)
9.3.2.2. On-premises, 2021-2031F (USD million)
9.3.3. By Tax Type
9.3.3.1. Direct Tax, 2021-2031F (USD million)
9.3.3.2. Indirect Tax, 2021-2031F (USD million)
9.3.4. By End User
9.3.4.1. Individuals, 2021-2031F (USD million)
9.3.4.2. Commercial Enterprises, 2021-2031F (USD million)
9.3.5. By Industry Vertical
9.3.5.1. Banking, Financial Services & Insurance, 2021-2031F (USD million)
9.3.5.2. Telecom & IT, 2021-2031F (USD million)
9.3.5.3. Manufacturing, 2021-2031F (USD million)
9.3.5.4. Retail, 2021-2031F (USD million)
9.3.5.5. Others, 2021-2031F (USD million)
9.3.6. By Country
9.3.6.1. US, 2021-2031F (USD million)
9.3.6.2. Canada, 2021-2031F (USD million)
10. Europe Tax Software Market Outlook
10.1. Market Overview
10.2. By value (USD million)
10.3. Europe Tax Software Segmentation Analysis (2021-2031)
10.3.1. By Component
10.3.2. By Deployment
10.3.3. By Tax Type
10.3.4. By End User
10.3.5. By Industry Vertical
10.3.6. By Country
10.3.6.1. UK, 2021-2031F (USD million)
10.3.6.2. Germany, 2021-2031F (USD million)
10.3.6.3. France, 2021-2031F (USD million)
10.3.6.4. Italy, 2021-2031F (USD million)
10.3.6.5. Rest of Europe, 2021-2031F (USD million)
11. Asia Pacific Tax Software Market Outlook
11.1. Market Overview
11.2. By Value (USD million)
11.3. Asia Pacific Tax Software Segmentation Analysis (2021-2031)
11.3.1. By Component
11.3.2. By Deployment
11.3.3. By Tax Type
11.3.4. By End User
11.3.5. By Industry Vertical
11.3.6. By Country
11.3.6.1. China, 2021-2031F (USD million)
11.3.6.2. India, 2021-2031F (USD million)
11.3.6.3. Japan, 2021-2031F (USD million)
11.3.6.4. South Korea, 2021-2031F (USD million)
11.3.6.5. Australia, 2021-2031F (USD million)
11.3.6.6. Rest of Asia Pacific, 2021-2031F (USD million)
12. Latin America Tax Software Market Outlook
12.1. Market Overview
12.2. By value (USD million)
12.3. Latin America Tax Software Segmentation Analysis (2021-2031)
12.3.1. By Component
12.3.2. By Deployment
12.3.3. By Tax Type
12.3.4. By End User
12.3.5. By Industry Vertical
12.3.6. By Country
12.3.6.1. Brazil, 2021-2031F (USD million)
12.3.6.2. Mexico, 2021-2031F (USD million)
12.3.6.3. Argentina, 2021-2031F (USD million)
12.3.6.4. Rest of Latin America, 2021-2031F (USD million)
13. Middle East and Africa Tax Software Market Outlook
13.1. Market Overview
13.2. By value (USD million)
13.3. Middle East and Africa Tax Software Segmentation Analysis (2021-2031)
13.3.1. By Component
13.3.2. By Deployment
13.3.3. By Tax Type
13.3.4. By End User
13.3.5. By Industry Vertical
13.3.6. By Country
13.3.6.1. GCC, 2021-2031F (USD million)
13.3.6.2. Israel, 2021-2031F (USD million)
13.3.6.3. South Africa, 2021-2031F (USD million)
13.3.6.4. Rest of Middle East and Africa, 2021-2031F (USD million)
Companies Mentioned
- SAP SE
- Drake Software
- Avalara Inc.
- Wolters Kluwer N.V.
- Intuit Inc.
- ADP Inc.
- Thomson Reuters
- Vertex Inc.
- Sovos Compliance LLC
- HRB Digital LLC
