The Tax Preparation Services Global Market Report 2023, provides comprehensive information on the tax preparation services market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Tax Preparation Services Global Market Report 2023, the market size is expected to grow from $29.62 billion in 2022 to $31.29 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global tax preparation services market size is expected to reach $38.28 billion in 2027 at a CAGR of 5.2%.
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Technological advancement is a key trend gaining popularity in the tax preparation services market. Major companies operating in the tax preparation services industry are focused on developing innovative solutions to strengthen their position in the market. For instance, in January 2023, April Tax Solutions Inc., a Canada-based accounting and tax service company, launched its Tax Platform technology, which simplifies the filing process and integrates tax preparation into broader financial wellness, especially for Americans. Itis assists Americans in gaining control of their taxes by utilising the most recent advances in natural language processing and human-assisted AI. April’s personalised engine offers taxpayers a fast, frictionless, and affordable tax experience, aimed at making the tax process easier. It creates a new standard for tax solutions for low-income families. April works directly with banks and financial institutions to break down the barriers that have traditionally existed between tax and financial planning, making tax work easier.
The tax preparation services market is segmented:
1) By Service: Tax Compilation Services, Tax Return Preparation Services, Other Services
2) By Deployment Mode: Cloud, On-Premises
3) By Application: Enterprise, Family, Personal, Other Applications
North America was the largest region in the tax preparation services market in 2022.
The table of contents in TBRC’s tax preparation services market report includes:
1. Executive Summary
2. Tax Preparation Services Market Characteristics
3. Tax Preparation Services Market Trends And Strategies
4. Tax Preparation Services Market – Macro Economic Scenario
5. Tax Preparation Services Market Size And Growth
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26. Africa Tax Preparation Services Market
27. Tax Preparation Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Tax Preparation Services Market
29. Tax Preparation Services Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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