Portland, OR -- (SBWIRE) -- 11/01/2017 -- Sales Tax Software is the software that simplifies, automates, and integrates the sales tax calculation, management, and reporting. The system offers solutions such as consumer use tax management, value added tax, tax return filing, and software integration with the financial database.

The large downstream demand for Sales Tax Software has been and still remains fairly stable. The Global market size for Sales Tax Software reached 4702.29 M USD in 2016 from 4118.46 M USD in 2012. Europe also play important roles in global market, with market size of 889.34 million USD in 2016 and will be 917.34 million USD in 2022, with a CAGR of 0.52%.

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The global sales tax software market is expected to register substantial growth in the near future, attributed to growth in demand for sales process automation, increase in demand for IoT devices, and availability of cloud-based solution at a low price. However, factors such as huge initial investment and lack of skill sets are expected to restrain the growth of the market.

Based on solution, the market is divided into the consumer use tax management, tax filing, and others. As per deployment model, the market is bifurcated as cloud and on-premise. On the basis of industry vertical, the market is classified as BFSI, transportation, retail, telecom & IT, healthcare, and others. Comprehensive competitive analysis and profiles of major market players such as Avalara, APEX Analytix, CCH Incorporated, eDocSolutions, LexisNexis, Sage Intacct, Inc, Vertex Inc., Ryan LLC, Sales Tax DataLINK, and Zoho Corporation are also provided in this report.

Key Benefits

This report provides an extensive analysis of the current and emerging market trends and dynamics in the global sales tax software market.

In-depth analysis is conducted by constructing market estimations for the key market segments between 2016 and 2023.

This study evaluating competitive landscape and value chain is taken into account to elucidate the competitive environment across the geographies.

This report entails the detailed quantitative analysis of the current market and estimations through 2016-2023, which assists in identifying the prevailing market opportunities.

Comprehensive analysis of factors that drive and restrict the growth of the global sales tax software market is provided.