Tax management refers to the control of finances for paying tax, and tax management includes tax planning, tax compliance, tax advisory, and tax compliance, among others. The tax management is growing popularity owing to the increasing number of transactions across various industry verticals due to increasing digitization. Among the component segment, the software segment holds a significant market share due to the increasing consultancy fees and stringent rules and regulations regarding tax.
Complex nature of the tax system, advancements in technologies are the major factors that are expected to drive the growth of the tax management market. However, privacy concerns and unstandardized tax regulations are expected to hinder the growth of the tax management market. The advancement in technologies and the growing adoption of blockchain are creating lucrative business opportunities for the players operating in the market.
7.Sovos Compliance, LLC.
The global tax management market is segmented on the basis of component, tax type, enterprise size, and industry vertical. On the basis of component the market is segmented as software and services. Based on tax type the market is segmented as direct tax and indirect tax. Based on enterprise size, the market is segmented as SMEs and large enterprises. Based on industry vertical, the market is segmented as BFSI, it and telecom, manufacturing, energy and utilities, retail, others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global tax management market based on various segments. It also provides market size and forecast estimates from year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Tax management market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting tax management market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Tax management market in these regions.
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