Global Tax Preparation Services Business Report 2023

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Nov 16, 2023, 06:00 ET

DUBLIN, Nov. 16, 2023 /PRNewswire/ -- The "Tax Preparation Services - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Tax Preparation Services Market to Reach $44.7 Billion by 2030

The global market for Tax Preparation Services estimated at US$33.4 Billion in the year 2022, is projected to reach a revised size of US$44.7 Billion by 2030, growing at a CAGR of 3.7% over the analysis period 2022-2030.

The market is further categorized into tax compilation services, tax return preparation services, and other service types, with a detailed analysis of each segment's annual revenues and trends. The report also examines the market across different end-users, including individuals and other end-user categories, providing valuable insights into the Tax Preparation Services industry.

Tax Compilation Services, one of the segments analyzed in the report, is projected to record 3.6% CAGR and reach US$20.8 Billion by the end of the analysis period. Growth in the Tax Return Preparation Services segment is estimated at 4.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $11.8 Billion, While China is Forecast to Grow at 5.5% CAGR

This report provides a comprehensive analysis of the Tax Preparation Services market, presenting data on annual sales in US$ Million for the years 2014 through 2030. It includes recent, current, and future market insights, segmented by geographic regions such as the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East, and Africa.

The Tax Preparation Services market in the U.S. is estimated at US$11.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$4.6 Billion by the year 2030 trailing a CAGR of 5.5% over the analysis period 2022 to 2030.

Additionally, the report offers a historical review of the market from 2014 to 2021 and a 16-year perspective, breaking down value revenues for key regions in 2014, 2023, and 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 3.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

What`s New?

Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and trademarked research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET OVERVIEW

Evergreen Importance of Taxes as a Key Development Priority Provides the Foundation for the Growth of Tax Preparation Services
Favorable Tax to GDP Ratio to Provide a Fertile Environment for the Adoption of Tax Preparation Services: Tax to GDP Ratio (In %) by Region as of the Year 2022
What's Ahead for Businesses & Markets?
Shaken by the War, Global Oil Prices Spiral & Feed Inflationary Pressures: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2022
War-Induced Commodity Price Increases & Broad Based Price Pressures Mark the Return of Global Inflation in 2022: Global Inflation Rates (In %) for the Years 2019 Through 2022
After the Pandemic, Global Economic Uncertainty Surges Amidst War, Inflation, Political Tensions & Supply Chain Disruptions Aggravated by China's Slowdown: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020, 2021, 2022 and 2023
Competition
Tax Preparation Services - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Tax Preparation Services: Overview, Definition & Benefits
World Brands
Recent Market Activity

MARKET TRENDS & DRIVERS

Struggling Labor Market is a Lost Opportunity for Growth in the Tax Preparation Market
Persistently High Unemployment Rates Above Pre-COVID Levels Indicates Long-Term Scarring from the Pandemic, Wage Inequality & Weakening Economic Recovery: Global Number of Unemployed People (In Million) for Years 2019 Through 2023
Growing Market for Employment Services Brings the Promise of Employment-Rich Economic Growth & Need for Professional Tax Planning and Filing Services
With Employment Services Helping People Land Better, Well-Paying Jobs, There Will be a Parallel Need for Professional Services to Handle, Plan & Manage, Compliant Tax Strategies: Global Market for Employment Services (In US$ Billion) for Years 2022, 2024, and 2026
Stricter Tax Rules Amid Growing Government Debt & Tax Evasions to Spur Demand for Tax Preparation Services
Record High Global Public Debt Strengthens the Business Case for Tax Reforms Designed to Widen the Tax Net, a Move That Can Benefit Demand for Tax Preparation Services: Global Public Debt (% of GDP) by Region for Years 2019 Through 2021
Role of AI in Tax Preparation Services Gets Bigger
Growing Tax Complexity Strengthens the Business Case for Tax Preparation Services
Increasing Tax Complexity Leads to Bigger Compliance Burdens Necessitating Businesses & Individuals to Seek Professional Services in Ensuring Compliance: Individual Income Tax Compliance Burden in the United States (In US$ Billion) for Years 2017 Through 2021
Rise in Corporate Profit Despite Inflation Bodes Well for Adoption of Tax Preparation Services
Growing Global Corporate Profit Bodes Well for Adoption of Professional Tax Related Services: Global Corporate Revenue (In US$ Trillion) for Years 1980, 2015 & 2025
Growing Salaries and Wages Despite Inflation & Fear of Recession to Boost Tax Related Services for Individuals
As Continued High Inflation & Talent Supply Challenges Take Salaries to Higher Levels, Pushing Employees into Higher Tax Brackets, Demand for Tax Preparation Services Will Grow to Meet More Complex Documentation Needs: Salary Increase in India (In %) for the Years 2020 Through 2022
Growing Trend Towards Outsourcing Finance & Accounting Operations to Expand the Addressable Market for Tax Preparation Services
Finance & Accounting Outsourcing Adoption (in %) by End-Use Markets as of the Year 2022
Growing Preference for Outsourcing Finance & Accounting Related Obligations Bodes Well for Higher Adoption of Tax Preparation Services: Global Finance and Accounting Outsourcing Market (In US$ Million) for Years 2022, 2024 & 2026

FOCUS ON SELECT PLAYERS (Total 266 Featured)

Deloitte Consulting LLP
Absolutely No Nonsense Admin Limited
Advantage Payroll Services, Inc.
Ernst & Young Global Limited
Flatworld Solutions Pvt., Ltd.
Cogneesol
Fiducial, Inc.
Avii
Circula
Donofrio
Enterslice Inc
FinTax Experts
Corneliuson & Associates
Baker Retirement & Wealth Management
BerganKDV

For more information about this report visit https://www.researchandmarkets.com/r/eeh5rh

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