Global Cloud Tax Management Software Market Trends, Size, Forecast - 2019-2025
The cloud tax management software market is projected to grow at a considerable CAGR of 12.5% during the forecast period. The ongoing globalization, increasing competition, an ever-increasing regulatory compliance burden have created a need of advanced software that can maintain all the tax legislation to maintain continuity of the business processes. The cloud tax management software offers management solutions on the cloud to increase mobility and distribute data storage and computing rights. Therefore, the increasing demand for tax management solutions for the maintenance of tax filling is a major factor to promote the adoption of the cloud tax management solution which in turn is anticipated to promote the growth of the global cloud tax management software market.
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The global tax regulations, such as the Organization for Economic Cooperation and Development’s (OECD’s) Action Plan on Base Erosion and Profit Sharing (BEPS) represents one of the most sweeping global tax changes in recent history, and it will have major direct tax implications for multinational entities (MNEs). Therefore, the software that can easily perform the operation by quickly adopting the new changes in the policies is the need of the hour. Moreover, the increasing adoption of cloud computing owing to the increased efficiency of the enterprises, improved employee mobility, and increased ability of production innovation, and reduced IT operating costs are the key factors that are promoting the enterprises to adopt cloud-based tax management software solution, which in turn anticipated to drive the growth of the global cloud tax management software market.
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Global Cloud Tax Management Software Market Market Segmentation
By Type
Direct Tax
In-Direct Tax
By Vertical
Banking Financial Services and Insurance (BFSI)
Information Technology (IT) and Telecom
Energy & Utilities
Healthcare & LifeScience
Government
Retail and Consumer Goods
Others
Regional Analysis
North America
US
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Company Profiles
Acumatica, Inc.
ADP, LLC
Avalara, Inc.
Blucora, Inc.
CrowdReason, LLC
Crozdesk, Ltd.
Drake Enterprises, Inc.
E-Crunch, Ltd.
H&R Block, Inc.
Intuit, Inc.
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