Sales Tax Software Market research report is a resource that makes available current as well as upcoming technical and financial details of the industry. The report not only takes into consideration all the market drivers and restraints which are derived from SWOT analysis but also gives all the CAGR projections for the historic year 2018, base year 2019 and forecast period. This industry analysis report speaks in detail about the manufacturing process, type and applications. The Sales Tax Software Market report acts as a window to the industry which gives description of what market definition, classifications, applications, engagements and market trends are.
The market size, revenue generated from the sales and technologies by various application segments are evaluated in the persuasive Sales Tax Software Market report. The report gives market analysis by taking into account market structure along with forecast of the various segments and sub-segments of the industry. This market report estimates, Global market development trends for industry. The report also provides the vendor landscape and a corresponding detailed analysis of the major vendors operating in the market. Analysis of upstream raw materials, downstream demand, and current market dynamics is also performed here. Lastly, the report makes few important proposals for a new project of Sales Tax Software Market before evaluating its feasibility.
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Market Analysis: Global sales tax software market is expected to rise to an estimated value of USD 9.29 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growing usage of IoT based services amid increasing availability of services based on AI and machine learning.
Major Competitors: Few of the major competitors currently working in the global sales tax software market are APEX Analytix; Avalara Inc.; CCH INCORPORATED.; Intuit Inc.; LegalRaasta.com; 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 others.
Sales Tax Software Market Segmentation: 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), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Global Sales Tax Software Market Drivers, Restraint and Key Development:
- Increasing complications in regulations and compliances resulting in major enterprises preferring automation of tax filling is expected to drive the growth of the market
- Concerns regarding security of confidential data of an enterprise with the deployment of these services over the cloud is expected to act as a restraint for the growth of the market
- In March 2019, Cognizant announced that they had acquired Meritsoft thereby expanding its software capabilities for financial services especially taxation, cash flow, fees and commissions. The growing presence of regulations and compliances regarding the financial transactions has led to major financial institutions adopting automation of operations. The combined capabilities will ensure further advancements and innovations in services.
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Global sales tax software market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of sales tax software market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Table of Contents-Snapshot
Chapter 1 Industry Overview
Chapter 2 Industry Competition by Manufacturers
Chapter 3 Industry Production Market Share by Regions
Chapter 4 Industry Consumption by Regions
Chapter 5 Industry Production, Revenue, Price Trend by Type
Chapter 6 Industry Analysis by Applications
Chapter 7 Company Profiles and Key Figures in Industry Business
Chapter 8 Industry Manufacturing Cost Analysis
Chapter 9 Marketing Channel, Distributors and Customers
Chapter 10 Market Dynamics
Chapter 11 Industry Forecast
Chapter 12 Research Findings and Conclusion
Chapter 13 Methodology and Data Source
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