市場調查報告書
商品編碼
1128349
稅務管理的全球市場 (2022~2030年):成長、未來展望、競爭分析Tax Management Market - Growth, Future Prospects and Competitive Analysis, 2022 - 2030 |
全球稅務管理的市場規模大幅度增加,從2021年的222億美元,預計在2022年~2030年的預測期間中以12.3%的年複合成長率成長。
全球稅務管理的市場金融交易量增加和全球稅制、法規的強化成為主要原因。還有世界的付款收入的劇增,稅制複雜的性質與稅務當局的警戒心高漲,為了更高的透明度,保全,即時資訊,稅務管理軟體區塊鏈技術的使用持續增加等預計也提高在預測期間內的需求。
本報告提供全球稅務管理的市場調查,市場概要,市場成長的各種影響因素分析,市場規模的變化、預測,各種區分、各地區/主要國家的明細,主要企業簡介等彙整資訊。
Key Market Insights
"Rising financial transactions worldwide will boost market growth"
The global tax management market is increasing significantly, anticipated to expand at a CAGR of 12.3% during the estimated period from 2022 to 2030, starting from US$ 22.20 Bn in 2021.
The global tax management market is majorly driven by the increasing financial transaction volume and rising tax rules & regulations worldwide. The rapidly growing global payments revenue is another major factor expected to enhance the market growth. The global payment revenue had reached over US$ 2 Tn in 2018 and expected to reach over US$ 3 Tn by 2023. The complex nature of the tax system and growing vigilance by tax administrators are key factors anticipated to further enhance the market growth in years to come. The growing use of blockchain technology in the tax management software for more transparency, security, and real-time information is further expected to enhance market demand during the forecast period.
Rapidly growing technological advancements such as the internet of things (IoT) and artificial intelligence (AI) is one of the key factors for market growth. Major market players are collaborating to provide solutions for tax compliance which is anticipated to drive the market growth over the forecast period. For instance, In May 2019, Thomson Reuters Corporation made a strategic partnership with Ernst & Young (EY). The strategic partnership is expected to bring together EY Tax Technology and Transformation (TTT) services with Thomson Reuters ONESOURCE tax technology to deal with the multijurisdictional tax compliance. However, the rise in theft cases of confidential data, lack of standardized tax rules, and regular amendments in tax laws are expected to hinder market growth in years to come.
Vertical Analysis
"Growing use of banking applications to spur the segment growth"
The BFSI segment dominated the global tax management market in 2021. The aforementioned segment contributed to nearly 35% of the global market share in the same year. The BFSI segment had its dominance due to the growing BFSI industry and the increasing use of banking applications globally. The global financial services industry is expected to reach over US$ 26.5 Tn by 2022 at a CAGR of nearly 6%, starting from more than US$ 22 Tn in 2018. The growing digitization is another major factor expected to drive the segment growth over the forecast period. The surge in government regulations in the industry along with an increasing number of financial transactions is expected to enhance the segment demand during the forecast period. The increase in the adoption of tax management software in the Asia Pacific BFSI industry is presumed to further drive the segment growth in years to come.
Regional Analysis
"Growing adoption of tax management software to enhance the North America growth"
North America had the highest share in the global tax management market in 2021. The region contributed to around 40% of the global market share in the same year. North America has its dominance due to early technological adoption along with continuous changes in the tax regulations. The U.S. is the major contributor in the North America tax management market owing to the growing adoption of tax management solutions and the presence of major market players in the country such as Avalara, Inc., Intuit, Inc., H&R Block, Inc., and others.
"Rising tax compliance will spur the market in the Asia Pacific"
The Asia Pacific is anticipated to expand at a rapid pace owing to rising tax compliance in the region along with the growing adoption of tax management software. The growing BFSI industry and rising government regulations in the emerging economies of the Asia Pacific such as India and China is further expected to drive the regional market. For instance, in July 2017, the Indian government started levying GST (Goods & Services Tax) at 5 different rates including 0%, 5%, 12%, 18%, and 28%
Key Industry Developments:
In January 2019, Thomson Reuters Corporation announced that its tax management software ONESOURCE Determination is certified for SAP S/4HANA Cloud. The integration with SAP enables end-to-end tax integrations, better tax calculations, and validation.
In September 2017, Wolters Kluwer N.V. acquired a rapidly growing collaborative tax firm Absolut. The acquisition will help Wolters Kluwer N.V. to increase its geographic presence in Europe.
In January 2020, Blucora, Inc. announced the acquisition of privately held HK Financial Services. The acquisition will reinforce Blucora, Inc.'s strategy to deliver tax-advantaged wealth management services and solutions to end-clients and advisors.
In July 2019, H&R Block, Inc. acquired rapidly growing tax and finance solution provider Wave Financial, Inc. The acquisition will expand the reach for H&R Block, Inc. to small and medium enterprises.
List of Companies Covered:
H&R Block, Inc.
Intuit Inc.
Avalara, Inc.
Thomson Reuters Corporation
Wolters Kluwer N.V.
Blucora, Inc.
SAP SE
Sovos Compliance
Vertex, Inc.
DAVO Technologies
TaxCloud
Xero
Canopy Tax, Inc.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Tax Management market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report
Micro and macro environment factors that are currently influencing the Tax Management market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE DETAILS
Research Period 2020-2030
Base Year 2021
Forecast Period 2022-2030
Historical Year 2020
Unit USD Billion
Segmentation
Component
Software
Services
Tax Type
Indirect Tax
Direct Tax
Deployment Type
Cloud
On-premises
Organization Size
Large Enterprises
Small and Medium Enterprises
Vertical
Banking, Financial Services, and Insurance (BFSI)
IT and Telecom
Manufacturing
Retail
Healthcare
Media & Entertainment
Others (Energy & Utilities, etc.)
Region Segment (2020-2030; US$ Billion)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of Covid-19 Segment (2020-2021; US$ Billion )
Pre Covid-19 situation
Post Covid-19 situation
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Tax Management market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Tax Management market?
Which is the largest regional market for Tax Management market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Tax Management market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Tax Management market worldwide?