Tax & Accounting Software Market Report: Trends, Forecast and Competitive Analysis to 2030

Tax & Accounting Software Trends and Forecast

The future of the global tax & accounting software market looks promising with opportunities in the BFSI, IT and telecommunications, healthcare, and manufacturing markets. The global tax & accounting software market is expected to reach an estimated $33.8 billion by 2030 with a CAGR of 9.5% from 2024 to 2030. The major drivers for this market are rapid expansion in the adoption of cloud computing solutions and technologies and growing use of mobile applications for business accounting, and growing acceptance of the seamless billing and invoicing method.

A more than 150-page report is developed to help in your business decisions.

Tax & Accounting Software by Segment

The study includes a forecast for the global tax & accounting software by type, deployment mode, end use industry, and region.

Tax & Accounting Software Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Accounting Software
• Tax Software

Tax & Accounting Software Market by Deployment Mode [Shipment Analysis by Value from 2018 to 2030]:

• Cloud
• On-Premise

Tax & Accounting Software Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• BFSI
• IT & Telecommunications
• Healthcare
• Manufacturing
• Others

Tax & Accounting Software Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Tax & Accounting Software Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies tax & accounting software companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the tax & accounting software companies profiled in this report include-

• KPMG
• DezanShira& Associates
• Kingston & Knight Accountants
• WoltersKluwer
• Tally Solutions
• Red Wing Software
• Epicor
• FreshBook
• TeamSystem SpA
• Xero

Tax & Accounting Software Market Insights

Lucintel forecasts that on-premise will remain the largest segment over the forecast period due to its security, features for offline accessibility, compliance adherence, and customization.

Within this market, manufacturing will remain the largest segment due to distinctive financial demands within the industry, encompassing intricate financial processes, tax compliance necessities, inventory control, and cost accounting.

Europe will remain the largest region over the forecast period due to growing dominance of major accounting software providers.

Features of the Global Tax & Accounting Software Market

Market Size Estimates: Tax & accounting software market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Tax & accounting software market size by type, deployment mode, end use industry, and region in terms of value ($B).

Regional Analysis: Tax & accounting software market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, deployment mode, end use industry, and regions for the tax & accounting software market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the tax & accounting software market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the tax & accounting software market size?

Answer: The global tax & accounting software market is expected to reach an estimated $33.8 billion by 2030.

Q2. What is the growth forecast for tax & accounting software market?

Answer: The global tax & accounting software market is expected to grow with a CAGR of 9.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the tax & accounting software market?

Answer: The major drivers for this market are rapid expansion in the adoption of cloud computing solutions and technologies and growing use of mobile applications for business accounting, and growing acceptance of the seamless billing and invoicing method.

Q4. What are the major segments for tax & accounting software market?

Answer: The future of the tax & accounting software market looks promising with opportunities in the BFSI, IT and telecommunications, healthcare, and manufacturing

markets.

Q5. Who are the key tax & accounting software market companies?

Answer: Some of the key tax & accounting software companies are as follows.

• KPMG
• DezanShira& Associates
• Kingston & Knight Accountants
• WoltersKluwer
• Tally Solutions
• Red Wing Software
• Epicor
• FreshBook
• TeamSystem SpA
• Xero

Q6. Which tax & accounting software market segment will be the largest in future?

Answer: Lucintel forecasts that on-premise will remain the largest segment over the forecast period due to its security, features for offline accessibility, compliance adherence, and customization.

Q7. In tax & accounting software market, which region is expected to be the largest in next 5 years?

Answer: Europe will remain the largest region over the forecast period due to growing dominance of major accounting software providers.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the tax & accounting software market by type (accounting software and tax software), deployment mode (cloud and on-premise), end use industry (BFSI, IT & telecommunications, healthcare, manufacturing, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?