Tax Management Market Analysis 2023-2027: Projected Market Size, Growth Drivers, And Lucrative Segments - By The Business Research Company
LONDON, Sept. 26, 2023 /PRNewswire/ -- As per The Business Research Company's Tax Management Global Market Report 2023, the global tax management market is experiencing a robust surge, with its size expected to increase from $18.60 billion in 2022 to $20.98 billion in 2023, reflecting an impressive compound annual growth rate (CAGR) of 12.8%. This upward trend is projected to continue, with the market size anticipated to reach $32.92 billion in 2027, demonstrating a CAGR of 11.9%. The driving factors behind the tax management market growth include increasing government support, rapid urbanization, a growing population, the adoption of digital channels, and the embrace of cloud-based approaches.
- The driving factors behind the tax management market growth include increasing government support, rapid urbanization, a growing population, the adoption of digital channels, and the embrace of cloud-based approaches.
- Government backing plays a pivotal role in driving the tax management market , with authorities recognizing the importance of efficient tax systems in managing revenue and fostering economic growth.
- Rapid urbanization and population growth are also contributing to the demand for streamlined tax management solutions as businesses and individuals seek efficient ways to navigate complex tax regulations.
- In 2021, Intuit Inc. emerged as the dominant player in the tax management market , holding a substantial 19.02% tax management market share.