Automated Tax Software Market 2019
Tax Software helps businesses of all sizes achieve compliance with sales tax, VAT, excise tax, and other transactional tax requirements.
In 2018, the global Automated Tax Software market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Automated Tax Software status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Automated Tax Software development in United States, Europe and China.
The key players covered in this study APEX Analytix Avalara CCH eDocSolutions eGov Systems Exactor LegalRaasta LumaTax Ryan Sage Intacct Sales Tax DataLINK Sovos Compliance Thomson Reuters Vertex Xero Zoho Service Objects
Market segment by Type, the product can be split into Web Software Mobile Software
Market segment by Application, split into BFSI Transportation Retail Healthcare Manufacturing Food Services Others
Market segment by Regions/Countries, this report covers United States Europe China Japan Southeast Asia India Central & South America
The study objectives of this report are: To analyze global Automated Tax Software status, future forecast, growth opportunity, key market and key players. To present the Automated Tax Software development in United States, Europe and China. To strategically profile the key players and comprehensively analyze their development plan and strategies. To define, describe and forecast the market by product type, market and key regions.
The global economic development has led to rapid developments in the financial services industry. Increasing investments, capital generation, revenue growth, etc. has encouraged the expansion of the industry on the global front. The growth of the developing nations is anticipated to attract massive investments from governments, national, and international investors. In addition, the expansion of core industries such as real estate, automotive, etc. is projected to boost the proliferation of the industry over the next couple of years. Also, the favorable laws implemented by the governments are expected to drive the industry's growth in the foreseeable future.
Digital transformation is one of the key factors expected to catapult the industry on upward trajectory. The integration of low-cost technology with the existing workflow is likely to revolutionize the growth pattern of the industry in the years to come. In addition, it also offers cost-effectiveness and efficiency, which is projected to dictate the future trajectory of the industry. Industry leaders are leveraging technological advancements such as chat bots, Artificial Intelligence (AI), etc. for staying ahead of the curve.
The competitive landscape of the industry represents robust competition. An influx of new entrants is expected to be witnessed in the years to come. The fintech startups are anticipated to uplift the financial status of the industry in the upcoming years. In addition, the advent of fintech players is projected to redefine the growth trajectory of the industry owing to innovations and advancements. The introduction of blockchain technology is another leap towards the growth of the industry. Major leaders across the world are leveraging cryptocurrency which is poised to accelerate revenue growth in the industry. Also, the shift towards cashless transactions and digital payment methods are anticipated to attract a larger customer base over the next couple of years.
The governments are emphasizing on the security of the investors. Regulations are being implemented and checked for accelerating capital formation. Endeavors are directed towards lowering the risks for the customers. This, in turn, is projected to earn goodwill for the players in the industry and increase revenue generation.
North America and Europe are expected to gain quick mileage on account of technological advancements in the regions. Also, the growing number of new entrants is poised to favor the expansion of the industry over the next couple of years. Case to the point is, Facebook, Inc., an American online social media and social networking service company, has introduced its cryptocurrency named Libra. It is backed by Visa, Vodafone, Uber, and Spotify. It is likely to gain traction in the forthcoming years, adding value to the U.S. financial services industry. Similarly, Asia Pacific is also anticipated to exhibit developmental opportunities. The presence of fast-developing economies in the region is poised to work in favor of industry growth.
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