Sandy, Utah, USA, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled "Sales Tax Software Market Size, Trends and Insights By Solution (Tax filings, Consumer Use Tax Management, Others), By Deployment (Cloud, On-Premises), By End-User (IT & Telecom, BFSI, Healthcare, Transportation, Retail, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030" in its research database.
"According to the latest research study, the demand of global Sales Tax Software Market size & share was valued at approximately USD 7.1 Billion in 2021 and is expected to reach a value of around USD 14.5 Billion by 2030, at a compound annual growth rate (CAGR) of about 9% during the forecast period 2022 to 2030."
The report examines the Sales Tax Software market's driving and restraining factors and the impact analysis throughout the projection period. Further, the report observes global opportunities in the Sales Tax Software market.
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Sales Tax Software Market: Overview
Sales Tax Software streamlines automates, and unifies sales taxes' management, reporting, and calculation. The system provides options for managing consumer use taxes, value-added taxes, filing tax returns, and integrating software with the financial database.
(A free sample of the Sales Tax Software Market report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
(Please note that the Sales Tax Software report sample has been modified to include the COVID-19 impact study before delivery.)
The global Sales Tax Software market is accelerating due to key driving factors such as the ongoing expansion in the amount of digital financial transitions and the complexity of tax rules. Additionally, the increased usage of cutting-edge technology for tracking taxpayers and strict government tax collection regulations offers lucrative market prospects during the projection period. Global market growth is hampered by a shortage of skilled labor and rising data security concerns.
Click Here to Access a Free Sample Report of the Global Sales Tax Software Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=16712
Complex Regulations and Compliances Boosting the Demand for Sales Tax Software Market
The market for Sales Tax Software is categorized into solution, deployment, and end-user. Based on the solution, the consumer use tax management segment dominated the Sales Tax Software market in 2021. By end-user, the retail segment is expected to dominate throughout the forecast period.
The growing e-commerce sector is supporting the growth of the retail segment. Also, the rising digitalization in various organizations across varied sectors is expected to drive the demand for Sales Tax Software. Based on deployment, the cloud-based Sales Tax Software is expected to dominate the market from 2022 to 2030. The low-cost initial deployment offered by cloud-based software boosts its demand among SMEs.
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Asia Pacific is expected to witness a high CAGR during 2022-2030. The developing economies in the region, such as India, China, Thailand, and Malaysia, are noticing high adoption of digitalization by organizations. The growth of cloud infrastructure supported by the availability of high-speed internet infrastructure, coupled with supportive government initiatives, is resulting in the digitalization of enterprises. Thus, the demand for Sales Tax Software is expected to accelerate from the organizations undergoing the digitalization process.
The market for Sales Tax Software in North America is anticipated to hold the largest market share during the forecast period of 2022-2030. The organization's stringent government regulations and early adoption of advanced software, particularly in the US and Canada, are propelling the market's growth.
The overall Sales Tax Software market comprises of few large players focused on launching new and advanced solutions and expanding their geographical reach through collaborations and partnerships. The report offers a company analysis to give a 360-degree overview of the major players operating in the market. Moreover, the report also comprises key strategic developments related to the market, including new service launches, acquisitions & mergers, agreements, collaborations & joint ventures, partnerships, research & development, and regional expansion of key player participants involved in the global Sales Tax Software market.
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An in-depth investment analysis has been performed, providing forecast and prevailing opportunities for the market participants. The market report focuses on significant characteristics of the market that comprise historic data, present market revenues, PEST analysis, technological investments, and competitive analysis in the related industry.
Some of the prominent players
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Key questions answered in this report:
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The global Sales Tax Software market is segmented as follows:
On the basis of Geography
The Middle East & Africa
Click Here to Access a Free Sample Report of the Global Sales Tax Software Market@ https://www.custommarketinsights.com/request-for-free-sample/?reportid=16712
Click Here to Get a Free Sample Report of the Global Sales Tax Software Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=16712
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Reasons for the Research Report
What does the report include?
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Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
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