Digital Tax Compliance Solutions Reach $35.41 Billion by 2027, Driven by Intuit, Sage, and Thomson Reuters.

Tax Tech Market Surges to $36.72 Billion by 2030, Led by Wolters Kluwer, Netherlands' H&R Block, and US' Avalara

The global tax technology market is set to surge to $36.72 billion by 2030, growing at a compound annual growth rate (CAGR) of 14.4% from 2020 to 2030, according to a recent report by Grand View Research, Inc.

The report highlights the increasing demand for tax technology solutions, driven by the need for tax authorities and businesses to streamline their tax compliance processes, improve accuracy, and reduce costs. The market is expected to be led by major players such as Wolters Kluwer, Netherlands' H&R Block, and US-based Avalara.

Wolters Kluwer, a global leader in professional tax and accounting solutions, is expected to maintain its market share due to its strong presence in the market and its ability to provide comprehensive tax compliance solutions.

H&R Block, a well-known provider of tax preparation and filing services, is expected to continue its growth momentum in the tax technology market, driven by its strong brand recognition and its ability to provide a range of tax preparation and filing services.

Avalara, a leading provider of tax compliance solutions, is expected to continue its rapid growth in the market, driven by its cloud-based solutions and its ability to provide a range of tax compliance services.

The report also highlights the growing demand for tax technology solutions in emerging markets, particularly in Asia-Pacific and Latin America, where the need for tax compliance solutions is increasing due to rapid economic growth and increasing complexity of tax laws.

The report identifies the key drivers of the tax technology market, including the increasing need for tax compliance, the growing demand for cloud-based solutions, and the increasing complexity of tax laws.

The report also identifies the key challenges facing the tax technology market, including the need for increased transparency and security, the need for continued innovation, and the need for effective integration with existing systems.

Overall, the report suggests that the tax technology market is poised for significant growth in the coming years, driven by the increasing demand for tax compliance solutions and the growing need for cloud-based solutions.