Tax Tech Market Size, Share, Trends - Growth Analysis Report

Overview

The global Tax Tech Market is expected to grow from USD 18.53 billion in 2024 to USD 36.72 billion by 2030 at a CAGR of 12.1% from 2024 to 2030.

The tax tech market is growing owing to increased demand for effective tax technology solutions across various industries, including financial services, retail & eCommerce, and IT & telecom. Businesses face compliance and reporting difficulties as tax regulations become more complicated and vary across regions. The tax tech solution provides automation, accuracy, and real-time updates, helping companies to handle complex tax regulations easily. This trend has increased demand for tax technology solutions as companies seek to optimize tax-related processes, minimize errors, and assure compliance with evolving tax rules, eventually driving market growth.

The growing demand for tax automation is increasing the tax tech market expansion. Businesses grapple with complex tax codes, increased reporting requirements, and the need for accuracy; tax tech provides automation for various tax-related tasks, simplifies compliance, minimizes errors, and enhances efficiency.

As the number and complexity of tax rules grow, automation and AI-powered solutions become critical tools for tax professionals to traverse the terrain quickly and effectively. For instance, in June 2024, Wolters Kluwer collaborated with Microsoft to create a Copilot extension for CCH Axcess, which was demonstrated at Microsoft Build 2024. The extension improves tax professionals' efficiency, automates workflows, and streamlines client management using AI-driven insights.

Attractive Opportunities in the Tax Tech Market

ASIA PACIFIC

Asia Pacific is projected to grow at the highest CAGR during the forecast period.

Tax tech market across various regions is fueled by digital tax reforms, government mandates, and increasing cloud adoption. Asia Pacific witnessing rapid expansion due to eInvoicing mandates and SME digitalization.

Rising regulatory complexities and evolving tax laws drive tax tech adoption, ensuring seamless integration with ERP systems, data security, and compliance with global standards. Advanced encryption and cloud-based solutions strengthen risk management and data protection.

The tax technology market is expanding as businesses seek automated, cost-efficient solutions for compliance, accuracy, and real-time reporting, shifting from manual processes to AI-driven tax platforms for enhanced efficiency.

Enterprises leverage tax technology to streamline tax calculations, optimize reporting, and ensure regulatory adherence across jurisdictions. ML and analytics enhance fraud detection, audit management, and predictive tax planning.

Impact of AI on Tax Tech Market

The tax tech market is evolving rapidly, driven by generative AI and automation. Key use cases include AI-powered tax advisory, automated tax reporting and filing, and dynamic regulatory updates, ensuring compliance with ever-changing tax laws. Smart tax anomaly detection enhances fraud prevention, while NLP for tax queries and advanced tax data analytics optimize decision-making. As businesses seek intelligent, automated tax solutions, the market potential for AI-driven tax tech continues to grow, offering efficiency, accuracy, and compliance at scale. Investments in AI and automation will further accelerate innovation and adoption across industries.

Global Tax Tech Market Dynamics

Driver: Complex cross-border trade tax regulations

Cross-border trade taxes are anticipated to drive the adoption of tax technology (tax tech) as businesses face complex regulations and compliance requirements. With the rise of global eCommerce and cross-border payments, handling different tax rules manually is becoming difficult and time-consuming. Tax tech helps businesses automate tax calculations, making it easier to stay accurate and compliant. Cross-border trade taxes are important in helping governments generate revenue, regulate trade policies, and prevent tax evasion while ensuring fair competition in global markets.

With the fast growth of global eCommerce, international transactions have increased significantly, making it difficult for businesses to comply with tax rules across different countries, as each country has its own tax laws, rates, and regulations. In 2024, the International Trade Administration (ITA) published its 2024 eCommerce Size & Sales Forecast, highlighting that worldwide eCommerce sales for B2B businesses have steadily risen over the past decade, with the global B2B eCommerce market expected to reach USD 36 trillion by 2026. Also, global B2C eCommerce revenue is expected to reach USD 5.5 trillion by 2027, growing at a steady rate of 14.4% yearly. As digital commerce grows, businesses face different tax rules, changing trade agreements, and new digital sales tax policies across countries. Dealing with changing trade agreements and tax requirements manually has become complex; as a result, more organizations are turning to tax technology to ensure compliance and accuracy. Businesses are speeding up tax procedures by implementing tax technology such as AI-based tax calculation tools. It enables accurate tax reporting and real-time compliance across different regions, helping businesses confidently expand abroad.

The number of cross-border transactions is growing, and with that, the difficulty of maintaining international tax compliance has extended beyond eCommerce to global payments. According to an FXCintelligence (data analytics firm specializing in cross-border payments) report, as of 2024, the B2B cross-border payments market had a total global size of USD 31.6 trillion and is set to grow by 58% to USD 50 trillion by 2032, with a 5.9% compound annual growth rate (CAGR). The increasing cross-border payments need tax tech solutions such as automated VAT or GST compliance platforms that can handle changing tax regulations, automate tax calculations on cross-border transactions, and ensure compliance across multiple jurisdictions. This allows businesses to optimize financial operations while mitigating tax-related risk.

Restraint: Lack of awareness of tax tech in developing countries

Businesses in developing countries lack awareness of tax technology, which hinders their growth. Since workers lack digital skills and there are hurdles to adopting new technology, companies struggle to understand the benefits of automation and prefer the old ways of handling taxes.

A lot of small and medium-sized businesses still file taxes manually and rely on accountants, paper forms, and Excel spreadsheets to manage tax reporting. Businesses in developing countries are not aware that tax tech can help them be more accurate, stay compliant, and reduce costs. Businesses hesitate to transition from familiar, labor-intensive processes to digital solutions without knowing how tax tech works.

The problem increases as there are not enough education and training programs. Governments and tax tech companies don’t always provide sufficient training to encourage and educate businesses on the benefits of tax tech in the long run, such as reduction in manual labor costs and minimizing penalties. Unlike developed markets, many governments in emerging economies actively promote digital tax filing, e-invoicing, or automated compliance solutions.

In addition, infrastructural constraints in digital connectivity hinder the adoption of tax tech. Businesses struggle to implement tax automation solutions due to poor internet connection, limited cloud adoption, and a lack of IT infrastructure. Many SMEs lack ERP or finance systems integration, which makes tax technology deployment even more difficult.

Opportunity: Rise of digital currencies & cryptotaxation

The growth of digital currencies and changing tax rules create new opportunities for tax technology. Governments seek more transparency; tax tech helps businesses stay compliant by automating tax processes, simplifying reporting, and accurately managing taxes on digital assets.

More people and businesses around the world are using digital currencies. Many countries are starting to recognize and regulate crypto for payments and investments. For reference, as per the Atlantic Council CBDC Tracker, updated in February 2025, 65 countries are actively working on digital currencies, either developing, testing, or launching them. A record high 44 Central Bank Digital Currency (CBDC) pilot projects are running, including the digital euro. Many European countries are testing CBDCs for both local and international transactions.

China’s digital yuan (e-CNY) is the biggest CBDC pilot in the world. By June 2024, transactions reached 7 trillion e-CNY (about USD 986 billion) across 17 provinces—almost four times the 1.8 trillion yuan (USD 253 billion) recorded a year earlier. Digital currencies are being used in education, healthcare, and tourism. However, because a single authority does not control digital currencies, their value fluctuates, and tax regulations are always evolving, they provide tax issues. Automated tax solutions assist by keeping track of transactions, precisely estimating earnings and losses, and making it easier to adhere to tax laws.

The crypto tax landscape is becoming complex as governments tighten regulations to prevent tax avoidance and ensure compliance. For instance, tax rates in the US on cryptocurrency gains range from 0% to 37%, depending on how long you own the asset and your income. Short-term gains (held for less than a year) are taxed like regular income, while long-term gains (held for over a year) are usually taxed between 0% and 20%.

As of 2024, the US Department of the Treasury and the Internal Revenue Service (IRS) have issued final regulations requiring custodial brokers to report sales and exchanges of digital assets, including cryptocurrency. These regulations help ensure people report their crypto transactions correctly since they are already taxed under existing laws. Tax technology makes this easier by automatically tracking transactions, calculating taxes accurately, and simplifying the reporting process to keep up with changing regulations.

Challenge: Frequent changes in tax laws & regulations

Frequent changes in tax laws and regulations pose a significant challenge to the tax tech market. As governments constantly change and introduce new rules, adjust tax rates, and add digital filing requirements to stay compliant, the tax systems require constant updates.

Tax technology vendors must frequently update software to comply with these changing requirements, which requires continuous software patching, new compliance modules, and real-time upgrades. Businesses relying on tax tech also need to invest in regular software training and internal audits to ensure they remain compliant; this adds up to operational costs.

In addition, the complex global tax regulations make it even more challenging. Countries implement different and frequently changing tax rules, such as India’s FY 2025–26 (AY 2026–27) tax changes introduce a higher tax-free threshold of USD 4,820 and an increased rebate, ensuring zero tax liability for incomes up to USD14,460 (compared to USD 8,430 in the previous year). Under the new tax rules, incomes between USD 24,100 and USD 28,920 are taxed at 25%, while income above USD 28,920 is taxed at 30%.

Salaried employees still get a standard deduction of USD 872. The new tax system is the default, but taxpayers can switch to the old system by submitting Form 10-IEA.

Keeping tax data safe is another challenge. New tax regulations include stricter rules on how data is gathered, stored, and processed, like Europe’s GDPR and India’s Data Protection Act. Tax tech companies must improve security while ensuring their systems follow these laws and stay compliant. Ensuring compliance with tax and data protection laws creates an additional operational burden.

Global Tax Tech Market Ecosystem Analysis

The tax tech ecosystem is a network of solutions and services that streamline tax processes, ensuring compliance, efficiency, and optimization for businesses. Tax Compliance & Reporting solutions automate tax filings, manage payments, and monitor regulatory changes to ensure businesses meet compliance requirements. These tools generate accurate reports, maintain audit trails, and provide real-time insights to mitigate non-compliance risks. Tax Analytics & AI-driven Solutions leverage artificial intelligence and predictive analytics to optimize tax strategies. These solutions identify deductions, forecast liabilities, and detect anomalies in tax data, enabling businesses to reduce tax burdens and improve financial planning. Tax Workflow & Document Management streamline tax-related processes by digitizing workflows, automating document handling, and centralizing tax records. These tools enhance collaboration, ensure version control, and provide secure storage, facilitating audit readiness and regulatory compliance. Together, these components transform tax operations, improving accuracy, efficiency, and strategic tax planning for businesses.

Note: The above diagram only shows the representation of the Tax Tech Market ecosystem; it is not limited to the companies represented above.
Source: Secondary Research and MarketsandMarkets Analysis

Based on solutions, tax compliance & reporting segment to hold largest market share during forecast period

Tax compliance and reporting solutions in the tax tech market are designed to help businesses meet regulatory requirements, streamline tax filings, and ensure accurate financial reporting. These solutions automate tax return preparation, calculation, and submission while ensuring compliance with local, national, and international tax laws. They integrate with enterprise resource planning (ERP) systems, allowing businesses to capture real-time financial data, classify transactions, and calculate tax liabilities. This reduces manual intervention, minimizes human error, and speeds up the tax reporting process. These solutions are crucial as regulatory environments become increasingly complex, and businesses face heavy penalties for non-compliance.

The primary function of tax compliance and reporting solutions is to simplify and standardize tax filing across multiple jurisdictions. They use pre-configured tax rules and real-time data processing to automatically calculate Value-Added Tax (VAT), Goods and Services Tax (GST), and corporate tax. They also support multi-country tax reporting, helping global businesses comply with different tax regulations. By automating tax calculations, companies can significantly reduce the risk of errors, improve reporting accuracy, and ensure timely submissions. Additionally, these solutions provide electronic filing capabilities, allowing businesses to submit tax returns directly to tax authorities, reducing paperwork and processing time.

The importance of these solutions lies in their ability to enhance compliance efficiency while reducing operational costs. They offer centralized dashboards for businesses to monitor tax obligations, payment status, and real-time audit trails. This enables organizations to avoid tax penalties and maintain clear financial records. Moreover, tax compliance solutions provide automatic updates for tax law changes, ensuring businesses remain compliant without manual intervention. Advanced reporting features such as visibility and accuracy allow businesses to generate detailed tax reports, improving visibility into tax liabilities and enabling strategic tax planning. As governments worldwide push for digital tax reporting, businesses leveraging tax compliance and reporting solutions can maintain operational continuity, reduce regulatory risks, and optimize tax management processes.

Based on tax types, indirect tax segment to grow at highest CAGR during the forecast period

Indirect tax focuses on automating the calculation, reporting, and compliance of taxes imposed on goods and services, such as VAT, GST, sales tax, excise duty, and customs duty. These taxes are passed on to the end consumer, making it critical for businesses to accurately calculate and report them to avoid non-compliance risks and financial penalties. Indirect tax solutions streamline tax determination, automate invoicing, and facilitate real-time tax calculations across multiple jurisdictions. This is particularly important for global businesses, as tax rates and regulations vary significantly across regions.

These solutions integrate with Enterprise Resource Planning (ERP) systems, accounting software, and eCommerce platforms to capture transactional data, apply the correct tax rates, and generate accurate tax invoices. Automating tax calculations minimizes human errors, ensuring accurate tax reporting and reducing compliance risks. Additionally, these solutions enable businesses to perform real-time tax validations, ensuring that invoices meet regulatory requirements before submission. By automating these processes, businesses enhance their operational efficiency and minimize tax disputes.

The demand for indirect tax solutions is rising due to increasing cross-border transactions, changing tax regulations, and the growth of eCommerce. Businesses require real-time tax compliance to avoid fines, maintain accurate financial reporting, and optimize their tax management. Indirect tax solutions also facilitate multi-jurisdiction compliance, allowing companies to adapt to different tax regimes without manual intervention seamlessly. Furthermore, these solutions support e-filing and automated tax return preparation, reducing the burden on finance teams.

The growing complexity of indirect tax regulations, such as the Digital Service Tax (DST) and environmental taxes, drives the need for robust tax tech solutions. These solutions enhance tax compliance, reduce operational inefficiencies, and ensure accurate tax reporting, enabling businesses to focus on core operations while maintaining compliance with indirect tax laws.

US market to hold largest share of North America's tax tech market

The US is anticipated to dominate the tax tech market in 2025. The market is constantly growing, with major players such as Avalara, Vertex, H&R Block, ADP, and SOVOS leading. The US is home to many technology-driven businesses and enterprises that are early adopters of advanced technologies. Tax tech uses advanced technologies like AI, machine learning, and analytics, which fit well with the US's focus on innovation. In addition, government initiatives have substantially increased the adoption of tax tech in the US. For instance, the IRS (Internal Revenue Service), the agency responsible for tax collection, is undergoing a major digital upgrade to improve outdated systems, enhance taxpayer services, and strengthen compliance. The Inflation Reduction Act (IRA) of 2022 originally set aside about USD 80 billion for the IRS over 10 years. However, as of March 2024, legislative changes reduced this funding by USD 20.2 billion, leaving around USD 60 billion to support these modernization efforts.

International and national businesses operating in multiple states of the US have to navigate fluctuating tax rates, frequent regulatory updates, and differing tax classifications, which complicate compliance and increase the risk of errors and penalties. For instance, in February 2024, the Tax Foundation published a report on State and Local Sales Tax Rates; in 2024, 45 states and the District of Columbia imposed statewide sales taxes. Among them, California has the highest state-level sales tax rate at 7.25%, while Indiana, Mississippi, Rhode Island, and Tennessee tie for the second highest at 7%. In contrast, Colorado has the lowest non-zero state sales tax at 2.9%, followed by Alabama, Georgia, Hawaii, New York, and Wyoming at 4%. While no state rates have changed since South Dakota’s tax cut 2023, which is set to expire in 2026, these variations require tax tech for automated tax rate calculations and regulatory change monitoring. Tax tech solutions help mitigate these complexities by automating tax calculations, monitoring regulatory changes, and ensuring accurate reporting across multiple jurisdictions. To suit the US tax regulation landscape and to facilitate the constant improvement of tax tech providers' tax tech systems

CANADA HIGHEST CAGR MARKET IN 2024

PROFESSIONAL SERVICES FASTEST GROWING-MARKET IN REGION

Recent Developments of Tax Tech Market

In March 2025, Xero partnered with Parolla to launch free VAT3 return and SEPA payment solutions for Irish users. The Parolla Plugins enabled direct VAT3 submissions to Revenue Online Services (ROS) and simplified supplier payments with SEPA-compliant files. The rollout supported Xero Business Edition and Cashbook users, enhancing tax automation and accuracy. Webinars were held on 9 and 13 March to demonstrate the new tools. This marked Xero’s first step under its “Committed to Ireland” initiative.

In January 2025, Wolters Kluwer integrated its GenAI-powered CCH AnswerConnect into CCH iFirm in Canada, marking a first-of-its-kind enhancement in the region. This integration allowed tax and accounting professionals to access AI-driven research and curated answers within their workflow directly. Designed to improve efficiency during tax season, it reduced reliance on external tools and minimized misinformation. The solution, available in both English and French, demonstrated Wolters Kluwer’s commitment to advancing digital transformation in professional tax services.

In January 2025, Thomson Reuters acquired SafeSend, a U.S.-based cloud-native tax automation company, for USD 600 million in cash. SafeSend, known for streamlining the final steps of tax return processing, had served 70% of the top 500 accounting firms in the US. The acquisition strengthened Thomson Reuters’ tax workflow capabilities by enhancing automation and interoperability. SafeSend was expected to generate $60 million in revenue in 2025 and grow over 25% annually.

In December 2024, Avalara acquired Oobj Tecnologia da Informação Ltda, a Brazil-based e-invoicing software provider, to strengthen its global e-invoicing solutions. This acquisition enhances Avalara’s endpoint connectivity in Brazil and expands its e-invoicing reach to six Latin American countries. Oobj will continue as a standalone product while integrating with Avalara’s E-Invoicing and Live Reporting (ELR) solution, providing businesses with a single global API for seamless compliance.

Key Market Players

List of Top Tax Tech Market Companies

The Tax Tech Market is dominated by a few major players that have a wide regional presence. The major players in the Tax Tech Market are

Wolters Kluwer(Netherlands)
H&R Block(US)
Avalara (US)
Vertex (US)
Thomson Reuters (Canada)
SAP (Germany)
ADP (US)

SOVOS (US)
Intuit (US)
Xero (New Zealand)
TaxBit(US)
Ryan(US)
TaxAct (US)
Anrok(US)

Corvee(US)
TaxSlayer (US)
Fonoa (Ireland)
Token Tax (US)
Drake Software (US)
TaxJar (US)
Picnic Tax(US)

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Scope of the Report

Report Attribute	Details
Market size available for years	2019–2030
Base year considered	2023
Forecast period	2024–2030
Forecast units	Value (USD Million/Billion)
Segments Covered	Offering, Tax Type, Deployment Mode, Organization Size, and Vertical
Regions covered	North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Key Questions Addressed by the Report

What is a tax tech?

The tax tech is a subset of FinTech. Tax tech (Tax Technology) is a digital tool and software that helps businesses and individuals manage taxes more efficiently. It automates tax calculations, filing returns, tracking compliance, and handling audits. These solutions use AI, cloud computing, and data analytics to reduce errors, save time, and ensure businesses follow tax laws correctly.

What innovations are improving tax tech efficiency?

Innovations such as AI automation, cloud-based platforms, blockchain for security, and real-time data analytics are improving tax tech efficiency.

Which are the key vendors providing tax tech?

Some significant vendors offering tax tech worldwide include Wolters Kluwer(Netherlands), H&R Block(US), Avalara(US), Vertex (US), Thomson Reuters (Canada), SAP (Germany), ADP (US), SOVOS (US), Intuit (US), Xero (New Zealand).

What is the total CAGR recorded for the tax tech market from 2024 to 2029?

The tax tech market is expected to achieve a CAGR of 12.1 % from 2024 to 2029.

Who are vital clients adopting tax tech?

Key clients adopting the tax tech solutions include: -

Enterprises & Corporations
Tax Authorities & Governments
Accounting & Tax Firms
SMEs & Startups
Financial Institutions
ECommerce & Digital Businesses
Payroll & HR Departments
ERP & Fintech Providers

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TITLE

PAGE NO

INTRODUCTION

RESEARCH METHODOLOGY

EXECUTIVE SUMMARY

PREMIUM INSIGHTS

MARKET OVERVIEW AND INDUSTRY TRENDS

5.1 INTRODUCTION
5.2 MARKET DYNAMICS

DRIVERS

- Complex cross-border trade tax regulations

- State and local tax rate variability

- Corporate ESG & tax transparency initiatives

RESTRAINTS

- Lack of awareness of tax tech in developing countries

OPPORTUNITIES

- Integration with financial systems

- Rise of digital currencies & cryptotaxation

CHALLENGES

- Frequent changes in tax laws & regulations
5.3 CASE STUDY ANALYSIS

CASE STUDY 1: WINNING E-COMMERCE WITH VINCULUM AND AVALARA

CASE STUDY 2: DRIVING TAX DEPARTMENT EFFICIENCY AND MINIMIZING COMPLIANCE RISKS

CASE STUDY 3: ACHIEVING OPERATIONAL EXCELLENCE WITH CCH PROSYSTEM FX TAX AND CCH AXCESS SUITE

CASE STUDY 4: BERGER, ELLIOTT & PRITCHARD'S JOURNEY WITH CCH PROSYSTEM FX TAX AND CCH AXCESS SUITE

CASE STUDY 5: INOVONICS FINDS COMPLETE TAX COMPLIANCE PACKAGE WITH AVALARA
5.4 ECOSYSTEM ANALYSIS
5.5 VALUE CHAIN ANALYSIS
5.6 PRICING ANALYSIS

AVERAGE SELLING PRICE OF KEY PLAYERS, BY ORGANIZATION SIZE

INDICATIVE PRICING OF KEY PLAYERS, BY SOLUTION
5.7 PATENT ANALYSIS

LIST OF MAJOR PATENTS
5.8 TECHNOLOGY ANALYSIS

KEY TECHNOLOGIES

- Blockchain

- Cloud computing

- AI & ML

- Robotic Process Automation (RPA) for tax

- API-first tax compliance

COMPLEMENTARY TECHNOLOGIES

- Cybersecurity solutions

- Financial management software

- Data visualization tool

- Big data & tax analytics

ADJACENT TECHNOLOGIES

- Internet of Things (IoT)

- 5G connectivity

- Digital currencies & cryptocurrencies platforms
5.9 REGULATORY LANDSCAPE

REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

KEY REGULATIONS, BY REGION

- North America

- Europe

- Asia Pacific

- Middle East & South Africa

- Latin America
5.10 PORTER’S FIVE FORCES ANALYSIS

THREAT OF NEW ENTRANTS

THREAT OF SUBSTITUTES

BARGAINING POWER OF SUPPLIERS

BARGAINING POWER OF BUYERS

INTENSITY OF COMPETITIVE RIVALRY
5.11 KEY CONFERENCES AND EVENTS FROM 2025 TO 2026
5.12 TRENDS/DISRUPTIONS IMPACTING BUYERS
5.13 KEY STAKEHOLDERS IN BUYING PROCESS
5.14 BUYING CRITERIA
5.15 BUSINESS MODEL ANALYSIS

PRICING MODEL

PAAS MODEL

IAAS MODEL

WHITE-LABEL MODEL
5.16 INVESTMENT & FUNDING SCENARIO
5.17 IMPACT OF AI/GEN AI ON TAX TECH MARKET

TOP USE CASES AND MARKET POTENTIAL

- Key use cases

CASE STUDY

- Use Case 1: H&R Block simplifies tax preparation with powerful AI tax assistant, built using Azure AI

VENDOR INITIATIVE

- Intuit

TAX TECH MARKET, BY OFFERING

6.1 INTRODUCTION

OFFERING: TAX TECH MARKET DRIVERS
6.2 SOLUTIONS

GROWING ADOPTION OF TAX TECH SOLUTIONS TO SIMPLIFY COMPLIANCE AND ENHANCE ACCURACY

TAX COMPLIANCE & REPORTING

- Automated tax filing and reporting to ensure timely compliance

- Corporate tax compliance (direct & indirect taxes)

- Sales and use tax automation

- VAT/GST compliance

- E-filing and tax return preparation

TAX ANALYTICS & AI-DRIVEN SOLUTIONS

- Predictive analytics driving proactive tax planning and regulatory adaptation

- Predictive analytics for tax planning

- AI-powered tax audits and risk assessment

- Tax data visualization and decision support

TAX WORKFLOW & DOCUMENT MANAGEMENT

- Advanced digital audit solutions to expedite tax filings and reduce errors

- Tax document automation and e-signatures

- Tax workflow collaboration platforms

- Audit trail and regulatory documentation
6.3 PROFESSIONAL SERVICES

COMPREHENSIVE TAX TECH SUPPORT FOR SEAMLESS IMPLEMENTATION AND MAINTENANCE

CONSULTING & TRAINING

INTEGRATION & DEPLOYMENT

SUPPORT AND MAINTENANCE

TAX TECH MARKET, BY DEPLOYMENT MODE

115

7.1 INTRODUCTION

DEPLOYMENT MODE: TAX TECH MARKET DRIVERS
7.2 CLOUD

CLOUD TAX TECH SOLUTIONS ENABLING MULTI-JURISDICTION COMPLIANCE AND REMOTE COLLABORATION
7.3 ON-PREMISES

ON-PREMISES TAX TECH DEPLOYMENT FOR ENHANCED DATA SECURITY AND COMPLIANCE

TAX TECH MARKET, BY TAX TYPE

120

8.1 INTRODUCTION

TAX TYPE: TAX TECH MARKET DRIVERS
8.2 DIRECT TAX

STREAMLINING DIRECT TAX MANAGEMENT FOR COMPLIANCE AND EFFICIENCY

CORPORATE INCOME TAX

CAPITAL GAINS TAX

PROPERTY TAX

OTHER DIRECT TAXES
8.3 INDIRECT TAX

ENSURING ACCURATE VAT, GST, AND SALES TAX COMPLIANCE WITH AUTOMATION

VALUE-ADDED TAX (VAT) AND GOODS & SERVICES TAX (GST)

SALES & USE TAX

EXCISE TAX

CUSTOMS DUTIES & TARIFFS

OTHER INDIRECT TAXES

TAX TECH MARKET, BY ORGANIZATION SIZE

129

9.1 INTRODUCTION

ORGANIZATION SIZE: TAX TECH MARKET DRIVERS
9.2 LARGE ENTERPRISES

DEMAND FOR TAX TRANSPARENCY AND RISK MITIGATION IN LARGE BUSINESSES DUE TO EVOLVING REGULATIONS AND COMPLIANCE REQUIREMENTS
9.3 SMES

DEMAND FOR COST-EFFECTIVE TAX TECH SOLUTIONS TO STREAMLINE SME COMPLIANCE AND FINANCIAL MANAGEMENT

TAX TECH MARKET, BY VERTICAL

134

10.1 INTRODUCTION

VERTICAL: TAX TECH MARKET DRIVERS
10.2 BFSI

NEED FOR AUTOMATED TAX COMPLIANCE AND RISK MITIGATION IN BFSI SECTOR

BFSI: USE CASES

- Automated tax reporting for investment portfolios

- Real-time VAT & GST compliance for financial transactions

- Withholding tax automation for cross-border payments
10.3 IT & TELECOM

OPTIMIZING TAX COMPLIANCE AND FINANCIAL TRANSPARENCY IN IT & TELECOM SECTOR

IT & TELECOM: USE CASES

- Automated digital services tax (DST) calculation

- Telecom excise tax management

- Automated compliance for SaaS subscription taxation
10.4 RETAIL & E-COMMERCE

AUTOMATING SALES TAX COMPLIANCE AND CROSS-BORDER TAX MANAGEMENT IN RETAIL & E-COMMERCE

RETAIL & E-COMMERCE: USE CASES

- Real-time sales tax calculation for online transactions

- Automated marketplace facilitator for tax compliance

- Cross-border e-commerce VAT compliance
10.5 MANUFACTURING

OPTIMIZING TAX CREDITS AND COMPLIANCE IN MANUFACTURING SUPPLY CHAINS

MANUFACTURING: USE CASES

- Automated indirect tax compliance for supply chains

- Excise duty calculation for regulated goods

- Automated property tax management for factories & warehouses
10.6 HEALTHCARE & LIFE SCIENCES

ENHANCING TAX ACCURACY IN MULTI-STATE HEALTHCARE SERVICES AND SUPPLIES

HEALTHCARE & LIFE SCIENCES: USE CASES

- Automated R&D tax credit management for drug development

- Sales tax exemption validation for medical supplies

- Medical device excise tax compliance
10.7 GOVERNMENT & PUBLIC SECTOR

STRENGTHENING TAX ADMINISTRATION AND REVENUE MANAGEMENT IN PUBLIC SECTOR

GOVERNMENT & PUBLIC SECTOR: USE CASES

- Automated property tax collection & assessment

- Blockchain-based taxpayer identity management

- Automated tax relief processing for low-income citizens
10.8 ENERGY & UTILITIES

DEMAND FOR TAX TECH SOLUTIONS TO OPTIMIZE RENEWABLE ENERGY CREDITS AND CARBON TAX COMPLIANCE

ENERGY & UTILITIES: USE CASES

- Carbon tax calculation & compliance

- Automated royalties & excise tax management for oil & gas

- Tax credit optimization for renewable energy investments
10.9 OTHER VERTICALS

TAX TECH MARKET, BY REGION

154

11.1 INTRODUCTION
11.2 NORTH AMERICA

NORTH AMERICA: TAX TECH MARKET DRIVERS

US

- US modernizing tax leveraging AI

CANADA

- CRA EFILE and certified software providers accelerating tax tech adoption in Canada
11.3 EUROPE

EUROPE: TAX TECH MARKET DRIVERS

UK

- HMRC modernizing UK tax with MTD and AI integration in operations

GERMANY

- Germany’s e-invoicing mandate boosting tax tech industry

FRANCE

- Tax mandates reshaping tech adoption in France

ITALY

- Adopting tax tech for smart tax compliance and management

REST OF EUROPE
11.4 ASIA PACIFIC

ASIA PACIFIC: TAX TECH MARKET DRIVERS

CHINA

- Government mandates and corporate support boosting tax tech in China

JAPAN

- New tax rules to shift Japan to tech-enabled tax

REST OF ASIA PACIFIC
11.5 MIDDLE EAST & AFRICA

MIDDLE EAST & AFRICA: TAX TECH MARKET DRIVERS

GCC

- Digital tax compliance navigating adoption of tax tech in GCC

- KSA

- UAE

- Rest of GCC countries

SOUTH AFRICA

- Adoption of tax tech in South Africa for advancing transparency and compliance

REST OF MIDDLE EAST & AFRICA
11.6 LATIN AMERICA

LATIN AMERICA: TAX TECH MARKET DRIVERS

BRAZIL

- Enhancing tax governance in Brazil through technology adoption

MEXICO

- SAT and rise of intelligent tax systems in Mexico

REST OF LATIN AMERICA

COMPETITIVE LANDSCAPE

203

12.1 INTRODUCTION
12.2 MARKET SHARE ANALYSIS
12.3 REVENUE ANALYSIS, 2019–2023
12.4 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024

STARS

EMERGING LEADERS

PERVASIVE PLAYERS

PARTICIPANTS
12.5 BRAND/PRODUCT COMPARISON

WOLTERS KLUWER (CCH SURETAX)

H&R BLOCK (H&R BLOCK)

AVALARA (AVATAX)

VERTEX (VERTEX O SERIES)

THOMSON REUTERS (ONESOURCE DETERMINATION)

COMPANY FOOTPRINT: KEY PLAYERS, 2024

- Company footprint

- Region footprint

- Offering footprint

- Tax type footprint

- Vertical footprint
12.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024

PROGRESSIVE COMPANIES

RESPONSIVE COMPANIES

DYNAMIC COMPANIES

STARTING BLOCKS

COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024

- Detailed list of key startups/SMEs

- Competitive benchmarking of startups/SMEs
12.7 COMPANY VALUATION AND FINANCIAL METRICS OF KEY VENDORS

COMPANY VALUATION

FINANCIAL METRICS
12.8 COMPETITIVE SCENARIO

PRODUCT LAUNCHES

DEALS

COMPANY PROFILES

227

13.1 INTRODUCTION
13.2 MAJOR PLAYERS

WOLTERS KLUWER

- Business overview

- Products/Solutions/Services offered

- Recent developments

- MnM view

H&R BLOCK

- Business overview

- Products/Solutions/Services offered

- Recent developments

- MnM view

AVALARA

- Business overview

- Products/Solutions/Services offered

- Recent developments

- MnM view

VERTEX, INC.

- Business overview

- Products/Solutions/Services offered

- Recent developments

- MnM view

THOMSON REUTERS

- Business overview

- Products/Solutions/Services offered

- Recent developments

- MnM view

SAP

- Business overview

- Products/Solutions/Services offered

- Recent developments

ADP

- Business overview

- Products/Solutions/Services offered

- Recent developments

SOVOS

- Business overview

- Products/Solutions/Services offered

- Recent developments

INTUIT

- Business overview

- Products/Solutions/Services offered

- Recent developments

XERO

- Business overview

- Products/Solutions/Services offered

- Recent developments
13.3 OTHER PLAYERS

TAXBIT

RYAN

TAXACT

CORVEE

ANROK

TAXSLAYER

FONOA

TOKEN TAX

DRAKE SOFTWARE

TAXJAR

PICNIC TAX

ADJACENT/RELATED MARKETS

278

14.1 INTRODUCTION

RELATED MARKETS

LIMITATIONS
14.2 TAX MANAGEMENT MARKET
14.3 TRADE MANAGEMENT MARKET
14.4 CLOUD ERP MARKET

APPENDIX

282

15.1 DISCUSSION GUIDE
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.3 CUSTOMIZATION OPTIONS
15.4 RELATED REPORTS
15.5 AUTHOR DETAILS

LIST OF TABLES

TABLE 1 USD EXCHANGE RATES, 2018–2023
TABLE 2 FACTOR ANALYSIS
TABLE 3 TAX TECH MARKET SIZE AND GROWTH, 2019–2023 (USD MILLION, YOY GROWTH %)
TABLE 4 MARKET SIZE AND GROWTH, 2024–2030 (USD MILLION, YOY GROWTH %)
TABLE 5 ROLE OF COMPANIES IN ECOSYSTEM
TABLE 6 INDICATIVE PRICING OF KEY PLAYERS, BY SOLUTION, 2024
TABLE 7 LIST OF MAJOR PATENTS
TABLE 8 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 PORTER’S FIVE FORCES ANALYSIS: MARKET
TABLE 13 TAX TECH MARKET: KEY CONFERENCES AND EVENTS FROM 2025 TO 2026
TABLE 14 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP VERTICALS
TABLE 15 KEY BUYING CRITERIA FOR TOP VERTICALS
TABLE 16 MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 17 MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 18 MARKET, BY SOLUTION, 2019–2023 (USD MILLION)
TABLE 19 MARKET, BY SOLUTION, 2024–2030 (USD MILLION)
TABLE 20 SOLUTION: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 21 SOLUTION: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 22 TAX COMPLIANCE & REPORTING: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 23 TAX COMPLIANCE & REPORTING: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 24 TAX ANALYTICS & AI-DRIVEN SOLUTIONS: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 25 TAX ANALYTICS & AI-DRIVEN SOLUTIONS: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 26 TAX WORKFLOW & DOCUMENT MANAGEMENT: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 27 TAX WORKFLOW & DOCUMENT MANAGEMENT: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 28 MARKET, BY PROFESSIONAL SERVICE, 2019–2023 (USD MILLION)
TABLE 29 MARKET, BY PROFESSIONAL SERVICE, 2024–2030 (USD MILLION)
TABLE 30 PROFESSIONAL SERVICES: TAX TECH MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 31 PROFESSIONAL SERVICES: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 32 CONSULTING & TRAINING: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 33 CONSULTING & TRAINING: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 34 INTEGRATION & DEPLOYMENT: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 35 INTEGRATION & DEPLOYMENT: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 36 SUPPORT AND MAINTENANCE: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 37 SUPPORT AND MAINTENANCE: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 38 MARKET, BY DEPLOYMENT MODE, 2019–2023 (USD MILLION)
TABLE 39 TAX TECH MARKET, BY DEPLOYMENT MODE, 2024–2030 (USD MILLION)
TABLE 40 CLOUD: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 41 CLOUD: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 42 ON-PREMISES: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 43 ON-PREMISES: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 44 MARKET, BY TAX TYPE, 2019–2023 (USD MILLION)
TABLE 45 MARKET, BY TAX TYPE, 2024–2030 (USD MILLION)
TABLE 46 DIRECT TAX: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 47 DIRECT TAX: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 48 INDIRECT TAX: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 49 INDIRECT TAX: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 50 MARKET, BY ORGANIZATION SIZE, 2019–2023 (USD MILLION)
TABLE 51 MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION)
TABLE 52 LARGE ENTERPRISES: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 53 LARGE ENTERPRISES: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 54 SMES: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 55 SMES: TAX TECH MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 56 MARKET, BY VERTICAL, 2019–2023 (USD MILLION)
TABLE 57 MARKET, BY VERTICAL, 2024–2030 (USD MILLION)
TABLE 58 BFSI: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 59 BFSI: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 60 IT & TELECOM: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 61 IT & TELECOM: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 62 RETAIL & E-COMMERCE: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 63 RETAIL & E-COMMERCE: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 64 MANUFACTURING: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 65 MANUFACTURING: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 66 HEALTHCARE & LIFE SCIENCES: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 67 HEALTHCARE & LIFE SCIENCES: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 68 GOVERNMENT & PUBLIC SECTOR: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 69 GOVERNMENT & PUBLIC SECTOR: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 70 ENERGY & UTILITIES: MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 71 ENERGY & UTILITIES: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 72 OTHER VERTICALS: TAX TECH MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 73 OTHER VERTICALS: MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 74 MARKET, BY REGION, 2019–2023 (USD MILLION)
TABLE 75 MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 76 NORTH AMERICA: MACROECONOMIC OUTLOOK
TABLE 77 NORTH AMERICA: MARKET, BY COMPONENT, 2019–2023 (USD MILLION)
TABLE 78 NORTH AMERICA: TAX TECH MARKET, BY COMPONENT, 2024–2030 (USD MILLION)
TABLE 79 NORTH AMERICA: MARKET, BY SOLUTION, 2019–2023 (USD MILLION)
TABLE 80 NORTH AMERICA: MARKET, BY SOLUTION, 2024–2030 (USD MILLION)
TABLE 81 NORTH AMERICA: MARKET, BY PROFESSIONAL SERVICE, 2019–2023 (USD MILLION)
TABLE 82 NORTH AMERICA: MARKET, BY PROFESSIONAL SERVICE, 2024–2030 (USD MILLION)
TABLE 83 NORTH AMERICA: MARKET, BY TAX TYPE, 2019–2023 (USD MILLION)
TABLE 84 NORTH AMERICA: MARKET, BY TAX TYPE, 2024–2030 (USD MILLION)
TABLE 85 NORTH AMERICA: MARKET, BY DEPLOYMENT MODE, 2019–2023 (USD MILLION)
TABLE 86 NORTH AMERICA: MARKET, BY DEPLOYMENT MODE, 2024–2030 (USD MILLION)
TABLE 87 NORTH AMERICA: MARKET, BY ORGANIZATION SIZE, 2019–2023 (USD MILLION)
TABLE 88 NORTH AMERICA: MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION)
TABLE 89 NORTH AMERICA: MARKET, BY VERTICAL, 2019–2023 (USD MILLION)
TABLE 90 NORTH AMERICA: MARKET, BY VERTICAL, 2024–2030 (USD MILLION)
TABLE 91 NORTH AMERICA: MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 92 NORTH AMERICA: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
TABLE 93 US: TAX TECH MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 94 US: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 95 CANADA: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 96 CANADA: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 97 EUROPE: MACROECONOMIC OUTLOOK
TABLE 98 EUROPE: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 99 EUROPE: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 100 EUROPE: MARKET, BY SOLUTION, 2019–2023 (USD MILLION)
TABLE 101 EUROPE: MARKET, BY SOLUTION, 2024–2030 (USD MILLION)
TABLE 102 EUROPE: MARKET, BY PROFESSIONAL SERVICE, 2019–2023 (USD MILLION)
TABLE 103 EUROPE: MARKET, BY PROFESSIONAL SERVICE, 2024–2030 (USD MILLION)
TABLE 104 EUROPE: TAX TECH MARKET, BY TAX TYPE, 2019–2023 (USD MILLION)
TABLE 105 EUROPE: MARKET, BY TAX TYPE, 2024–2030 (USD MILLION)
TABLE 106 EUROPE: MARKET, BY DEPLOYMENT MODE, 2019–2023 (USD MILLION)
TABLE 107 EUROPE: MARKET, BY DEPLOYMENT MODE, 2024–2030 (USD MILLION)
TABLE 108 EUROPE: MARKET, BY ORGANIZATION SIZE, 2019–2023 (USD MILLION)
TABLE 109 EUROPE: MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION)
TABLE 110 EUROPE: MARKET, BY VERTICAL, 2019–2023 (USD MILLION)
TABLE 111 EUROPE: MARKET, BY VERTICAL, 2024–2030 (USD MILLION)
TABLE 112 EUROPE: MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 113 EUROPE: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
TABLE 114 UK: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 115 UK: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 116 GERMANY: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 117 GERMANY: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 118 FRANCE: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 119 FRANCE: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 120 ITALY: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 121 ITALY: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 122 REST OF EUROPE: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 123 REST OF EUROPE: TAX TECH MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 124 ASIA PACIFIC: MACROECONOMIC OUTLOOK
TABLE 125 ASIA PACIFIC: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 126 ASIA PACIFIC: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 127 ASIA PACIFIC: MARKET, BY SOLUTION, 2019–2023 (USD MILLION)
TABLE 128 ASIA PACIFIC: MARKET, BY SOLUTION, 2024–2030 (USD MILLION)
TABLE 129 ASIA PACIFIC: MARKET, BY PROFESSIONAL SERVICE, 2019–2023 (USD MILLION)
TABLE 130 ASIA PACIFIC: MARKET, BY PROFESSIONAL SERVICE, 2024–2030 (USD MILLION)
TABLE 131 ASIA PACIFIC: MARKET, BY TAX TYPE, 2019–2023 (USD MILLION)
TABLE 132 ASIA PACIFIC: MARKET, BY TAX TYPE, 2024–2030 (USD MILLION)
TABLE 133 ASIA PACIFIC: MARKET, BY DEPLOYMENT MODE, 2019–2023 (USD MILLION)
TABLE 134 ASIA PACIFIC: MARKET, BY DEPLOYMENT MODE, 2024–2030 (USD MILLION)
TABLE 135 ASIA PACIFIC: MARKET, BY ORGANIZATION SIZE, 2019–2023 (USD MILLION)
TABLE 136 ASIA PACIFIC: MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION)
TABLE 137 ASIA PACIFIC: TAX TECH MARKET, BY VERTICAL, 2019–2023 (USD MILLION)
TABLE 138 ASIA PACIFIC: MARKET, BY VERTICAL, 2024–2030 (USD MILLION)
TABLE 139 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 140 ASIA PACIFIC: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
TABLE 141 CHINA: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 142 CHINA: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 143 JAPAN: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 144 JAPAN: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 145 REST OF ASIA PACIFIC: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 146 REST OF ASIA PACIFIC: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 147 MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK
TABLE 148 MIDDLE EAST & AFRICA: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 149 MIDDLE EAST & AFRICA: TAX TECH MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 150 MIDDLE EAST & AFRICA: MARKET, BY SOLUTION, 2019–2023 (USD MILLION)
TABLE 151 MIDDLE EAST & AFRICA: MARKET, BY SOLUTION, 2024–2030 (USD MILLION)
TABLE 152 MIDDLE EAST & AFRICA: MARKET, BY PROFESSIONAL SERVICE, 2019–2023 (USD MILLION)
TABLE 153 MIDDLE EAST & AFRICA: MARKET, BY PROFESSIONAL SERVICE, 2024–2030 (USD MILLION)
TABLE 154 MIDDLE EAST & AFRICA: MARKET, BY TAX TYPE, 2019–2023 (USD MILLION)
TABLE 155 MIDDLE EAST & AFRICA: MARKET, BY TAX TYPE, 2024–2030 (USD MILLION)
TABLE 156 MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT MODE, 2019–2023 (USD MILLION)
TABLE 157 MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT MODE, 2024–2030 (USD MILLION)
TABLE 158 MIDDLE EAST & AFRICA: MARKET, BY ORGANIZATION SIZE, 2019–2023 (USD MILLION)
TABLE 159 MIDDLE EAST & AFRICA: MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION)
TABLE 160 MIDDLE EAST & AFRICA: MARKET, BY VERTICAL, 2019–2023 (USD MILLION)
TABLE 161 MIDDLE EAST & AFRICA: MARKET, BY VERTICAL, 2024–2030 (USD MILLION)
TABLE 162 MIDDLE EAST & AFRICA: MARKET, BY REGION/COUNTRY, 2019–2023 (USD MILLION)
TABLE 163 MIDDLE EAST & AFRICA: MARKET, BY REGION/COUNTRY, 2024–2030 (USD MILLION)
TABLE 164 GCC COUNTRIES: TAX TECH MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 165 GCC COUNTRIES: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
TABLE 166 GCC COUNTRIES: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 167 GCC COUNTRIES: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 168 KSA: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 169 KSA: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 170 KSA: MARKET, BY TAX TYPE, 2019–2023 (USD MILLION)
TABLE 171 KSA: MARKET, BY TAX TYPE, 2024–2030 (USD MILLION)
TABLE 172 KSA: MARKET, BY DEPLOYMENT MODE, 2019–2023 (USD MILLION)
TABLE 173 KSA: MARKET, BY DEPLOYMENT MODE, 2024–2030 (USD MILLION)
TABLE 174 KSA: MARKET, BY ORGANIZATION SIZE, 2019–2023 (USD MILLION)
TABLE 175 KSA: TAX TECH MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION)
TABLE 176 KSA: MARKET, BY VERTICAL, 2019–2023 (USD MILLION)
TABLE 177 KSA: MARKET, BY VERTICAL, 2024–2030 (USD MILLION)
TABLE 178 UAE: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 179 UAE: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 180 REST OF GCC: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 181 REST OF GCC: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 182 SOUTH AFRICA: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 183 SOUTH AFRICA: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 184 REST OF MIDDLE EAST & AFRICA: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 185 REST OF MIDDLE EAST & AFRICA: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 186 LATIN AMERICA: MACROECONOMIC OUTLOOK
TABLE 187 LATIN AMERICA: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 188 LATIN AMERICA: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 189 LATIN AMERICA: MARKET, BY SOLUTION, 2019–2023 (USD MILLION)
TABLE 190 LATIN AMERICA: MARKET, BY SOLUTION, 2024–2030 (USD MILLION)
TABLE 191 LATIN AMERICA: TAX TECH MARKET, BY PROFESSIONAL SERVICE, 2019–2023 (USD MILLION)
TABLE 192 LATIN AMERICA: MARKET, BY PROFESSIONAL SERVICE, 2024–2030 (USD MILLION)
TABLE 193 LATIN AMERICA: MARKET, BY TAX TYPE, 2019–2023 (USD MILLION)
TABLE 194 LATIN AMERICA: MARKET, BY TAX TYPE, 2024–2030 (USD MILLION)
TABLE 195 LATIN AMERICA: MARKET, BY DEPLOYMENT MODE, 2019–2023 (USD MILLION)
TABLE 196 LATIN AMERICA: MARKET, BY DEPLOYMENT MODE, 2024–2030 (USD MILLION)
TABLE 197 LATIN AMERICA: MARKET, BY ORGANIZATION SIZE, 2019–2023 (USD MILLION)
TABLE 198 LATIN AMERICA: MARKET, BY ORGANIZATION SIZE, 2024–2030 (USD MILLION)
TABLE 199 LATIN AMERICA: MARKET, BY VERTICAL, 2019–2023 (USD MILLION)
TABLE 200 LATIN AMERICA: MARKET, BY VERTICAL, 2024–2030 (USD MILLION)
TABLE 201 LATIN AMERICA: MARKET, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 202 LATIN AMERICA: MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
TABLE 203 BRAZIL: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 204 BRAZIL: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 205 MEXICO: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 206 MEXICO: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 207 REST OF LATIN AMERICA: MARKET, BY OFFERING, 2019–2023 (USD MILLION)
TABLE 208 REST OF LATIN AMERICA: MARKET, BY OFFERING, 2024–2030 (USD MILLION)
TABLE 209 MARKET: DEGREE OF COMPETITION, 2023
TABLE 210 MARKET: REGION FOOTPRINT
TABLE 211 MARKET: OFFERING FOOTPRINT
TABLE 212 MARKET: TAX TYPE FOOTPRINT
TABLE 213 TAX TECH MARKET: VERTICAL FOOTPRINT
TABLE 214 MARKET: LIST OF KEY STARTUPS/SMES
TABLE 215 MARKET: COMPETITIVE BENCHMARKING OF STARTUPS/SMES
TABLE 216 MARKET: PRODUCT LAUNCHES, NOVEMBER 2023–JANUARY 2025
TABLE 217 MARKET: DEALS, APRIL 2023–MARCH 2025
TABLE 218 WOLTERS KLUWER: COMPANY OVERVIEW
TABLE 219 WOLTERS KLUWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 220 WOLTERS KLUWER: PRODUCT LAUNCHES AND ENHANCEMENTS
TABLE 221 WOLTERS KLUWER: DEALS
TABLE 222 H&R BLOCK: COMPANY OVERVIEW
TABLE 223 H&R BLOCK: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 224 H&R BLOCK: PRODUCT LAUNCHES AND ENHANCEMENTS
TABLE 225 AVALARA: COMPANY OVERVIEW
TABLE 226 AVALARA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 227 AVALARA: PRODUCT LAUNCHES AND ENHANCEMENTS
TABLE 228 AVALARA: DEALS
TABLE 229 VERTEX, INC.: COMPANY OVERVIEW
TABLE 230 VERTEX, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 231 VERTEX, INC.: DEALS
TABLE 232 THOMSON REUTERS: COMPANY OVERVIEW
TABLE 233 THOMSON REUTERS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 234 THOMSON REUTERS: PRODUCT LAUNCHES AND ENHANCEMENTS
TABLE 235 THOMSON REUTERS: DEALS
TABLE 236 SAP: COMPANY OVERVIEW
TABLE 237 SAP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 238 SAP: DEALS
TABLE 239 ADP: COMPANY OVERVIEW
TABLE 240 ADP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 241 ADP: PRODUCT LAUNCHES AND ENHANCEMENTS
TABLE 242 SOVOS: COMPANY OVERVIEW
TABLE 243 SOVOS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 244 SOVOS: PRODUCT LAUNCHES AND ENHANCEMENTS
TABLE 245 SOVOS: DEALS
TABLE 246 INTUIT: COMPANY OVERVIEW
TABLE 247 INTUIT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 248 INTUIT: PRODUCT LAUNCHES AND ENHANCEMENTS
TABLE 249 XERO: COMPANY OVERVIEW
TABLE 250 XERO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 251 XERO: PRODUCT LAUNCHES AND ENHANCEMENTS
TABLE 252 XERO: DEALS
TABLE 253 TAX MANAGEMENT MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 254 TAX MANAGEMENT MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 255 TAX MANAGEMENT MARKET, BY TAX TYPE, 2018–2021 (USD MILLION)
TABLE 256 TAX MANAGEMENT MARKET, BY TAX TYPE, 2022–2027 (USD MILLION)
TABLE 257 TRADE MANAGEMENT MARKET, BY COMPONENT, 2015–2021 (USD MILLION)
TABLE 258 TRADE MANAGEMENT MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 259 TRADE MANAGEMENT MARKET, BY DEPLOYMENT TYPE, 2015–2021 (USD MILLION)
TABLE 260 TRADE MANAGEMENT MARKET, BY DEPLOYMENT TYPE, 2022–2027 (USD MILLION)
TABLE 261 CLOUD ERP MARKET, BY SOFTWARE, 2019–2023 (USD MILLION)
TABLE 262 CLOUD ERP MARKET, BY SOFTWARE, 2024–2029 (USD MILLION)
TABLE 263 CLOUD ERP MARKET, BY APPLICATION, 2019–2023 (USD MILLION)
TABLE 264 CLOUD ERP MARKET, BY APPLICATION, 2024–2029 (USD MILLION)

LIST OF FIGURES

FIGURE 1 MARKET: RESEARCH DESIGN
FIGURE 2 BREAKUP OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION, AND REGION
FIGURE 3 MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
FIGURE 6 TAX TECH MARKET: RESEARCH FLOW
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH FROM SUPPLY SIDE – COLLECTIVE REVENUE OF VENDORS
FIGURE 9 MARKET: DEMAND-SIDE APPROACH
FIGURE 10 GLOBAL MARKET TO WITNESS SIGNIFICANT GROWTH
FIGURE 11 FASTEST-GROWING SEGMENTS IN MARKET, 2024–2030
FIGURE 12 TAX TECH MARKET: REGIONAL SNAPSHOT
FIGURE 13 RISING TAX REGULATIONS AND NEED FOR AUTOMATED COMPLIANCE SOLUTIONS DRIVING MARKET
FIGURE 14 SOLUTIONS SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
FIGURE 15 TAX COMPLIANCE & REPORTING SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
FIGURE 16 SUPPORT & MAINTENANCE TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
FIGURE 17 CLOUD SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
FIGURE 18 INDIRECT TAX SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
FIGURE 19 LARGE ENTERPRISES SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
FIGURE 20 BFSI SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
FIGURE 21 ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENT IN NEXT FIVE YEARS
FIGURE 22 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: MARKET
FIGURE 23 MARKET: ECOSYSTEM ANALYSIS
FIGURE 24 MARKET: VALUE CHAIN
FIGURE 25 AVERAGE SELLING PRICE, BY REGION (2024)
FIGURE 26 NUMBER OF PATENTS PUBLISHED, 2014–2024
FIGURE 27 PORTER’S FIVE FORCES ANALYSIS: MARKET
FIGURE 28 TAX TECH MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS
FIGURE 29 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP VERTICALS
FIGURE 30 KEY BUYING CRITERIA FOR TOP VERTICALS
FIGURE 31 LEADING GLOBAL MARKET VENDORS, BY NUMBER OF INVESTORS AND FUNDING ROUNDS, 2024
FIGURE 32 MARKET POTENTIAL OF GENERATIVE AI IN TRANSFORMING TAX TECHNOLOGY
FIGURE 33 SOLUTIONS SEGMENT TO HOLD LARGER MARKET DURING FORECAST PERIOD
FIGURE 34 TAX COMPLIANCE & REPORTING SEGMENT TO HOLD LARGEST MARKET DURING FORECAST PERIOD
FIGURE 35 SUPPORT & MAINTENANCE SERVICES SEGMENT TO ACCOUNT FOR LARGEST MARKET DURING FORECAST PERIOD
FIGURE 36 CLOUD SEGMENT TO HOLD LARGEST MARKET DURING FORECAST PERIOD
FIGURE 37 INDIRECT TAX SEGMENT TO HOLD LARGER MARKET DURING FORECAST PERIOD
FIGURE 38 LARGE ENTERPRISES SEGMENT TO HOLD LARGER MARKET DURING FORECAST PERIOD
FIGURE 39 BFSI SEGMENT TO ACCOUNT FOR LARGEST MARKET DURING FORECAST PERIOD
FIGURE 40 NORTH AMERICA TO ACCOUNT FOR LARGEST MARKET BY 2030
FIGURE 41 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 42 ASIA PACIFIC: MARKET SNAPSHOT
FIGURE 43 TAX TECH: MARKET SHARE ANALYSIS, 2023
FIGURE 44 TAX TECH MARKET: REVENUE ANALYSIS OF KEY PLAYERS, 2019–2023 (USD MILLION)
FIGURE 45 COMPANY EVALUATION MATRIX FOR KEY PLAYERS: CRITERIA WEIGHTAGE
FIGURE 46 MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024
FIGURE 47 MARKET: BRAND PRODUCT COMPARISON FOR TAX COMPLIANCE
FIGURE 48 MARKET: COMPANY FOOTPRINT
FIGURE 49 EVALUATION MATRIX FOR STARTUPS/SMES: CRITERIA WEIGHTAGE
FIGURE 50 TAX TECH MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024
FIGURE 51 COMPANY VALUATION OF KEY VENDORS
FIGURE 52 EV/EBITDA ANALYSIS OF KEY VENDORS
FIGURE 53 YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND FIVE-YEAR STOCK BETA OF KEY VENDORS
FIGURE 54 WOLTERS KLUWER: COMPANY SNAPSHOT
FIGURE 55 H&R BLOCK: COMPANY SNAPSHOT
FIGURE 56 VERTEX, INC.: COMPANY SNAPSHOT
FIGURE 57 THOMSON REUTERS: COMPANY SNAPSHOT
FIGURE 58 SAP: COMPANY SNAPSHOT
FIGURE 59 ADP: COMPANY SNAPSHOT
FIGURE 60 INTUIT: COMPANY SNAPSHOT
FIGURE 61 XERO: COMPANY SNAPSHOT

This research study used extensive secondary sources, directories, and databases, such as D&B Hoovers, Bloomberg Businessweek, and Factiva, to identify and collect information for a technical, market-oriented, and commercial study of the global Tax tech market. A few other market-related reports and analyses published by various industry associations and consortiums, such as the National Security Agency (NSA) and SC Magazine, were considered while doing the extensive secondary research. The primary sources were mainly the industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, and technologists from companies and organizations related to all segments of this industry's value chain. In-depth interviews were conducted with primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information and assess the prospects. The market has been estimated by analyzing various driving factors, such as improving organizational compliance requirements, enhancing operational efficiency, and requiring simplified workflows to eliminate bottlenecks.

Secondary Research

The market size of companies offering Tax tech was determined based on secondary data available through paid and unpaid sources, analyzing the product portfolios of major companies in the ecosystem, and rating the companies based on their product capabilities and business strategies.

Various sources were used in the secondary research process to identify and collect information for the study. These sources included annual reports, press releases, investor presentations of companies, product data sheets, white papers, journals, certified publications, articles from recognized authors, government websites, directories, and databases.

Secondary research was mainly used to obtain key information about the industry's supply chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives, all of which were further validated by primary sources.

Primary Research

In the primary research process, various sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side included industry experts, such as chief executive officers (CEOs), vice presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various companies and organizations operating in the tax tech market.

Primary interviews were conducted to gather insights, such as market statistics, the latest trends disrupting the market, new use cases implemented, data on revenue collected from products and services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped me understand various technologies-related trends, segmentation types, industry trends, and regions. Demand-side stakeholders, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Security Officers (CSOs), and the installation teams of governments/end users using tax technology and digital initiatives project teams, were interviewed to understand the buyer's perspective on suppliers, products, service providers, and their current use of services, which would affect the overall tax tech market.

Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Tier 1 companies’ revenues are more than USD 10 billion; tier 2 companies’ revenues range between USD 1 and 10 billion; and tier 3 companies’ revenues range between USD 500 million and USD 1 billion.
Source: Industry Experts

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The top-down and bottom-up approaches were used to estimate and validate the size of the Tax tech market and various other dependent subsegments.

The research methodology used to estimate the market size included the following details:

The key players in the market were identified through secondary research, and their revenue contributions in the respective countries were determined through primary and secondary research.

This entire procedure included studying top market players' annual and financial reports and extensive interviews for key insights from industry leaders, such as Chief Executive Officers (CEOs), VPs, directors, and marketing executives.

All percentage splits and breakups were determined using secondary sources and verified through primary sources.

All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets.

Tax Tech Market : Top-Down and Bottom-Up Approach

The top-down approach prepared an exhaustive list of all vendor component solutions in the Tax tech market. The revenue contribution for all vendors in the market was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each vendor was evaluated based on its components. The aggregate of all companies' revenues was extrapolated to reach the overall market size, each subsegment was further studied and analyzed for its global market size and regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included obtaining key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives. The Tax tech market was derived from adopting the Tax tech market components by different verticals. The market numbers were further triangulated with the existing MarketsandMarkets repository for validation.

The bottom-up approach identified the Tax adoption trend in critical countries, affecting regions that contribute most of the market share. The adoption trend of the Tax tech and different use cases concerning their business segments was identified and extrapolated for cross-validation. weightage was given to the use cases identified in other areas for the calculation. An exhaustive list of all vendors' component solutions and services in the Tax tech market was prepared. The revenue contribution of all vendors in the market was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Vendors with Tax tech components were considered when evaluating the market size. Each vendor was evaluated based on its components across user types. The aggregate of all companies' revenue was extrapolated to reach the overall market size. Each subsegment was studied and analyzed for its market size and regional penetration.

Data Triangulation

Once the overall market size was determined, we divided the market into segments and subsegments using the previously described market size estimation procedures. When required, market breakdown and data triangulation procedures were employed to complete the market engineering process and specify the exact figures for every market segment and subsegment. The data was triangulated by examining several variables and patterns from government entities' supply and demand sides.

Market Definition

According to MYD Labs, "TaxTech is a form of technology and associated frameworks geared towards serving individual and corporate taxpayers and government institutions such as tax departments and regulatory bodies. TaxTech, on the other hand, is primarily concerned with Direct and Indirect taxes and requires a complex, rigid, and comprehensive framework that must adhere to government tax regulations. TaxTech services deal with Income Tax Filing, GST Filing, TDS preparation, reconciliation, approvals, tax audits, what-if analysis, projections, predictions, etc."

Stakeholders

Tax software vendors
Government & Regulatory Bodies
Tax advisory firms
Financial Institutions & Payment Providers
Tax policy advocacy organizations
Digital payment platforms
Legal Firms
ERP & accounting software providers

Report Objectives

To define, describe, and forecast the global Tax tech market based on component (software, professional services), tax type (direct tax, indirect tax), organization size (large enterprises, SMEs), Vertical (BFSI, IT & Telecom, Retail & E-commerce, Manufacturing, Government & Public sector, Energy & Utilities, Healthcare & Lifesciences, and Others), deployment mode (cloud, on-premises,) and region.
To forecast the market size of the five major regional segments: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America
To strategically analyze the market subsegments for individual growth trends, prospects, and contributions to the total market
To provide detailed information related to the significant factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
To strategically analyze macro and micro markets for growth trends, prospects, and their contributions to the overall market
To analyze industry trends, patents and innovations, and pricing data related to the Tax tech market
To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for major players
To analyze the impact of AI/GenAI on the global Tax tech market.
To profile key players in the market and comprehensively analyze their market share/ranking and core competencies.
To track and analyze competitive developments, such as mergers & acquisitions, product developments, and partnerships & collaborations in the market.
This research report categorizes the tax tec market based on offering, tax type deployment mode, applications, organization size, vertical and region.

Available Customizations

MarketsandMarkets provides customizations based on the company's unique requirements using market data. The following customization options are available for the report:

Tax Tech Market

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