Home > Media & Technology > Information Technology > IT Software > Tax Management Market
Tax Management Market Size
- Report ID: GMI5450
- Published Date: Mar 2023
- Report Format: PDF
Tax Management Market Size
Tax Management Market size surpassed USD 20 billion in 2022 and is expected to grow at a CAGR of 10% between 2023 and 2032. Driven by the wide usage of cloud-based tax compliance solutions.
The industry demand is primarily fueled by increasing government support. Government initiatives to fix public finances by broadening the revenue base are expanding the scope for product preference. For instance, the Income Tax Department of India launched Annual Information Summary in November 2021 that manages the tax data and Taxpayer Information Summary aids in filling returns.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Tax Management Market Size in 2022: | USD 20 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 10% |
| 2032 Value Projection: | USD 50 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 386 |
| Tables, Charts & Figures: | 386 |
| Segments covered: | Component, Organization Size, Deployment Mode, Tax, End-use and Region |
| Growth Drivers: | |
| Pitfalls & Challenges: |
Furthermore, the mounting adoption of integrated solutions for tax compliance is poised to stimulate the tax management market growth. Emphasis on digitalization for tax audits and tax management among firms has encouraged companies to develop new integrated tax compliance software and services, fostering the market outlook. Recently, in February 2023, Vertex Inc., a tax compliance solution provider, unveiled its innovative Edge Cloud Solution, Vertex Indirect Tax O Series. This system supports retailers automate, configure, and deploy containerized tax engines.
Frequently Asked Questions (FAQ) :
Tax Management Market Scope
