What is Tax Management System Market?
Tax Management system is referred to as a system which calculates and creates customer-centric statements and invoices for ALL of the tax revenue types. This modern kind of solution supports e-billing and integrates with account management of customer to register receivables. It provides a view of the full-circle of customers Personal and Real revenue. The market of a tax management system is growing due to rising awareness among people about the tax-related market, while some of the factors like low availability of skilled professionals is hampering the market.
The market study is being classified by Type (Property taxes (Real and Personal Property), Maps/GIS Information, Frozen and current year tax values, Exemption Tracking, Discovery management and Listing processes), by Application (Personal Use and Commercial Use) and major geographies with country level break-up.
Avalara (United States), Wolters Kluwer (Netherlands), Longview (United States), TaxSlayer (United States), TaxJar (United States), Xero (New Zealand), Intuit (United States), Thomson Reuters (United States), H&R Block (United States) and Drake Software (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are SOVOS (United States), Canopy (Canada) and Rethink Solutions (United States).
The global Tax Management System market is highly competitive and fragmented with various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly looking at the market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio.
Segment Analysis
Analyst at AMA have segmented the market study of Global Tax Management System market by Type, Application and Region.
On the basis of geography, the market of Tax Management System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Penetration of IoT Devices
- Growing Internet Penetration around World
Market Trend
- Automation of Business Critical Applications
Restraints
Opportunities
- Increasing Investment in the System Solutions
- Rising Awareness among the People about Tax Management System
Challenges
- Unavailability of Skilled Professionals
On 6th February 2019, Avalara, Inc., a leading provider of tax compliance automation software, acquired artificial intelligence technology and expertise from Indix to aggregate, structure and deliver global product and tax information.
Key Target Audience
Tax Management System Device manufacturers, Network Operators, Distributors & Suppliers, Research Firms, System Developers, Commercial Banks, Government Agencies, End-user sectors and Technology Investors