DUBLIN--(BUSINESS WIRE)--The "Sales Tax Software Market to 2027 - Global Analysis and Forecasts by Component; Deployment Type; and Industry Vertical" report has been added to ResearchAndMarkets.com's offering.
The global sales tax software market accounted for US$ 6.21 Bn in 2018 and is expected to grow at a CAGR of 8.8% over the forecast period 2019-2027, to account for US$ 13.13 Bn by 2027.
The global sales tax software market is predicted to draw significant growth during the coming years, majorly due to the growing demand for sales tax process automation, and availability of low cast cloud-based sales tax software solutions. Furthermore, the need for sales tax software is expected to grow, owing to the advanced features offered by sales tax software solutions providers.
Presently, cloud-based sales tax software solutions are dominating the global sales tax software market. This trend is expected to continue during the forecast period also majorly due to the rising adoption of cloud-based platforms by companies worldwide. The advanced features and evolving architectures of today's cloud platforms are further boosting the adoption of cloud-based sales tax software solutions, and sales tax software market.
With investment in cloud-based solutions, the companies are anticipated to reduce their operational costs, decrease human errors in tax calculations and filing, and thus to increase their productivity and revenues in this process. The on-premises solutions are sometimes complex to manage and expensive.
Not every mid-size or to some extent, even the large enterprise finds it infeasible to invest in-house automation systems, and hence, most enterprises outsource their work. Each enterprise requires a specific & customized tax solution based on their organization's requirements and using cloud-based solutions for these specific needs is considered as one of the best business models for most companies worldwide.
In addition to this, the growing digital revolution across the globe is fuelling the adoption of a cloud-based solution. Governments of developing economies such as India and China are taking various initiatives to boost the adoption of digital services by consumers and industries.
Some of the players present in the sales tax software market are APEX Analytix, Avalara, Inc., Ryan, LLC, The Sage Group Plc, Sovos Compliance LLC., Taxjar, Thomson Reuters Corporation, Vertex, Inc., Wolters Kluwer (CCH Incorporated), and Xero Limited among others.
Key Topics Covered
1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Global Sales Tax Software Market - By Component
1.3.2 Global Sales Tax Software Market - By Deployment Type
1.3.3 Global Sales Tax Software Market - By Industry Vertical
1.3.4 Global Sales Tax Software Market - By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Sales Tax Software Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
4.3.1 North America PEST Analysis
4.3.2 Europe PEST Analysis
4.3.3 Asia-Pacific PEST Analysis
4.3.4 Middle East & Africa PEST Analysis
4.3.5 South America PEST Analysis
5. Sales Tax Software Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Constantly Evolving Sales Taxation Laws and Regulations in Various Countries
5.1.2 Digital Transformation is Fuelling the Demand for Sales Tax Software Market
5.2 Key Market Restraints
5.2.1 Data Privacy and Security Concerns Towards Cloud Based Solutions
5.2.2 Lack of Technology Know-How and Cloud Infrastructure in Developing Nations
5.3 Key Market Opportunities
5.3.1 Small, Medium and Do It Yourself Businesses Offer Future Growth Opportunity
5.4 Future Trends
5.4.1 Rising Adoption of Cloud-Based Solutions Across Industries
5.5 Impact Analysis of Drivers and Restraints
6. Sales Tax Software Market - Global Analysis
6.1 Global Sales Tax Software Market Overview
6.2 Global Sales Tax Software Market Forecast And Analysis
6.3 Market Positioning- Top Five Players
7. Sales Tax Software Market Analysis - By Component
7.1 Overview
7.2 Global Sales Tax Software Market Breakdown, By Component, 2018 & 2027
7.3 Tax Determination & Filing Solutions
7.4 Compliance Document Management Solutions
7.5 Services
8. Sales Tax Software Market Analysis - By Deployment Type
8.1 Overview
8.2 Global Sales Tax Software Market Breakdown, By Deployment Type, 2018 & 2027
8.3 Cloud
8.4 On-Premise
9. Sales Tax Software Market Analysis - By Industry Vertical
9.1 Overview
9.2 Global Sales Tax Software Market Breakdown, By Industry Vertical, 2018 & 2027
9.3 Retail
9.4 IT & Telecom
9.5 Transportation
9.6 BFSI
9.7 Healthcare
9.8 Others
10. Sales Tax Software Market - Geographical Analysis
10.1 Overview
10.2 North America Sales Tax Software Market Revenue & Forecasts To 2027
10.3 Europe Sales Tax Software Market Revenue & Forecasts To 2027
10.4 Asia-Pacific Sales Tax Software Market Revenue & Forecasts To 2027
10.5 Middle East & Africa Sales Tax Software Market Revenue & Forecasts To 2027
10.6 South America Sales Tax Software Market Revenue & Forecasts To 2027
11. Industry Landscape
11.1 Market Initiatives
11.2 Mergers & Acquisitions
11.3 New Developments
12. Company Profiles
12.1 Apex Analytix
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products & Services
12.1.4 Financial Overview
12.1.5 Swot Analysis
12.1.6 Key Developments
12.2 Avalara Inc.
12.3 Ryan LLC
12.4 The Sage Group plc
12.5 Sovos Compliance LLC
12.6 Taxjar
12.7 Thomson Reuters Corporation
12.8 Vertex Inc.
12.9 Wolters Kluwer (CCH Incorporated)
12.10 Xero Limited
For more information about this report visit https://www.researchandmarkets.com/r/w2ly7q
