Global Sales Tax Software Market, By Solution (Consumer Use Tax Management, Automatic Tax Filings, Exemption Certificate Management, Others), Deployment Model (On-Premises, Cloud-Based, SaaS), Platform Type (Web, Mobile), Industrial Vertical (BFSI, Transportation, Retail, Telecommunication & IT, Healthcare, Manufacturing, Food Services, Energy & Utilities, Others), Application (Small Business, Midsize Enterprise, Large Enterprise), End-Users (Individuals, Commercial Enterprises), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The sales tax software market will reach at an estimated value of USD 10.95 billion and grow at a CAGR of 8.05% in the forecast period of 2021 to 2028. Increase in the complications in regulations and compliances resulting in major enterprises preferring automation of tax filling is an essential factor driving the smart lecture capture market
Sales tax software is defined as a technological service provided by several financial and IT organizations which essentially help individuals & enterprises in filing for taxes pertaining to their business sales. This software is directly connected with the authorities of a particular region thereby recording all of the regulations and compliances that a commercial enterprise or an individual needs to follow, providing easier tax filing and workflow.
Significant penetration of internet and cloud computing resulting in greater adoption of these services is a crucial factor accelerating the market growth, also increase in the levels of quantities of transactions and the amounts pertaining to these transactions results in complicated process of tax filing, requiring a simplified tax filing service and increase in cross border trade and online retail across the world that are coupled with latest trends which include, e-commerce and digitalization are the major factors among others boosting the sales tax software market. Moreover, rise in the research and development activities in the market and increase in the demand from emerging economies will further create new opportunities for sales tax software market in the forecast period mentioned above.
However, rise in the absence of quality infrastructure required for efficient operations of these services, increase in the requirement of knowledgeable professionals to provide efficient workflow of services and maintaining the operational cycle and increase in the concerns regarding security of confidential data of an enterprise with the deployment of these services over the cloud are the major factors among others restraining the market growth, and will further challenge the sales tax software market in the forecast period mentioned above.
This sales tax software market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the sales tax software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Sales Tax Software Market Scope and Market Size
The sales tax software market is segmented on the basis of solution, deployment model, industrial vertical, application and end-users. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of solution type, the sales tax software market is segmented into consumer use tax management, automatic tax filings, exemption certificate management and others.
- Based on deployment model, the sales tax software market is segmented into on-premises, cloud-based and SaaS.
- Based on industrial vertical, the sales tax software market is segmented into BFSI, transportation, retail, telecommunication & IT, healthcare, manufacturing, food services, energy & utilities and others.
- Based on application, the sales tax software market is segmented into small business, midsize enterprise and large enterprise.
- The sales tax software market is also segmented on the basis of end-users into individuals and commercial enterprises.
Sales Tax Software Market Scope Country Level Analysis
The sales tax software market is analysed and market size, volume information is provided by country, solution, deployment model, industrial vertical, application and end-users as referenced above.
The countries covered in the sales tax software market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the sales tax software market due to increase in the levels of quantities of transactions and the amounts pertaining to these transactions results in complicated process of tax filing in this region.
The country section of the sales tax software market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Sales Tax Software Market Share Analysis
The sales tax software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to sales tax software market.
The major players covered in sales tax software market report are APEX Analytix, LLC; Avalara Inc.; CCH.; Intuit Inc.; LumaTax, Inc.; Ryan, LLC; Sage Intacct, Inc.; Sales Tax DataLINK; Sovos Compliance, LLC; Thomson Reuters; Vertex, Inc.; Zoho Corporation Pvt. Ltd.; Xero Limited; The Federal Tax Authority, LLC d/b/a TaxCloud; Wolters Kluwer; CFS Tax Software Inc.; Service Objects, Inc.; TaxJar; Chetu Inc. and HRB Digital LLC among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Sales Tax Software Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.