Sales Tax Software Market 2021
AbsoluteMarketsInsights Presents “Sales Tax Software Market Research Report –Global Forecast to 2030” New Document to its Studies Database
The sales tax software is being increasingly used in businesses including shipping, contracts, products and accounting. Integration of technology in sales tax management of the business assists in reducing the time effort. The sales tax management process generally involves includes calculation, filing, and reporting with an aim to fulfill all the tax obligations. In addition, advent of technology automation results in significant reduction of average cost for small and medium sized organizations. Automation of sales tax management is pushing the organizations to enhance their operational efficiency and overall profit. For instance, SOVOS introduced an automated government certified sales tax software, Taxify, which provides real time tax rates, and is a print ready platform. The sales tax software is equipped with self-service portal that provides easy procedure of filing the taxes. Thus, such factors are expected to enhance the growth of global sales tax software market during the forecast period.
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Major Key Players:
Some of the prominent players operating in the global sales tax software market include APEX Analytix, Avalara, CCH Incorporated, eDocSolutions, eGov Systems amongst others.
Key Findings of the Report:
In terms of revenue, global sales tax software market was valued US$ 4063.2 Million in 2018 owing to growing adoption of advanced technologies in order to standardizes and regularize taxation systems.
On the basis of deployment, cloud is expected to grow exponentially over the forecast period owing to growing adoption of cloud based services by industries.
Based on the industry vertical, BFSI is projected to hold largest market share over the forecast period. The adoption of sales tax software in BFSI enables secure transactions and better evaluation of tax filing systems, which is expected to be a key driver for the market.
Market Segmentation
By Solutions
Consumer Use Tax Management
Automatic Tax Filings
Exemption Certificate Management
Others
By Deployment
On-premise
Cloud
Single-Tenant
Multi-Tenant
By Platform
Web
Mobile
Android Native
iOS Native
By End User
Individuals
Commercial Enterprise
Small & Medium Enterprises
Large Enterprises
By Industry Vertical
Banking, Financial Services and Insurance ( BFSI )
Transportation
Retail
Telecommunication & IT
Healthcare
Manufacturing
Food Services
Energy and Utilities
Others (Construction, Education, Etc.)
By Region
North America
U.S.
Canada
Mexico
Rest of North America
Europe
France
The UK
Spain
Germany
Italy
Nordic Countries
Denmark
Finland
Iceland
Sweden
Norway
Benelux Union
Belgium
The Netherlands
Luxembourg
Rest of Europe
Asia Pacific
China
Japan
India
New Zealand
Australia
South Korea
Southeast Asia
Indonesia
.…
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