The Europe tax software market is expected to grow from US$ 3,855.7 million in 2021 to US$ 7,631.9 million by 2028; it is estimated to grow at a CAGR of 10.2% from 2021 to 2028.
The digital revolution across Europe creates huge opportunities for businesses to utilize digital services and automation to modify their business models and traditional processes in order to improve operational efficiency and increase revenue. Enhanced operational efficiency, end-to-end business process optimization, and cost and human error reduction are a few major benefits of the digital transformation in tax systems. Therefore, the demand for tax software is increasing in Europe.
Tax software quickly ascertains a client’s overall financial situation and suggests insurance or investment products, or other services such as auditing, bookkeeping or even comprehensive financial plans, that may be needed. The additional revenue that can be generated from this approach can be substantial in many cases. Also, the tax preparation process has become fast and efficient as vast information is now available in digital format. It helps accountants prepare tax to import their client data from personal finance software directly on their tax returns with a single click as a substitute of entering all those numbers manually. Also, electronic signatures have been entered with the client’s permission, which often eliminates the need for clients to be physically present in the accountant’s office. Furthermore, mobile apps are now available for taxpayers to e-file their tax effortlessly. Thus, digitization in the tax paying system is expected to propel the growth of the Europe tax software market during the coming years.
The western part of Europe is known for its better standards of living, with people exhibiting higher income levels. Such enhancement in areas/sectors provides ample growth opportunities to the businesses to further nurture their business through product development, geographic expansion, etc. The SMEs are benefitted with the adoption and implementation of cloud accounting in their organizational structures as it helps them lower the cost burden incurred by subscription, software license gain, and maintenance. The cloud infrastructure also facilitates quick access to the shared data in real time through a user-friendly interface. Also, the market is currently led by the companies that provide traditional tax software-as-a-service, and these players are working endlessly to increase the usability of systems and streamline the administrative tasks to ensure operational efficiency, which is compelling them to opt for cloud-based subscription software. Apart from technological advancements in tax software, the growth of SMEs and funding for the same also essentially support the goal of the players to accomplish their predetermined targets.
The government bodies in Europe are realizing that all businesses need assistance during the COVID-19 outbreak. Like 2008 financial crisis, the outbreak crisis is impacting the business operations of both public and private companies. In countries, such as the UK, the government released the stay-at-home order in the first quarter of 2020. Thus, the trend of remote working has emerged. Remote working compelled the businesses to adopt advanced systems to have access to financial records. Several companies are now shifting from office-based financial management process to tax preparation & online accounting software to provide users a secure and better access to financial report remotely. The demand for advanced accounting software and professional services is increasing to organize business processes and make tax preparation less arduous. This aspect would gradually impact the adoption of tax software in Europe during the forecast period.
Europe Tax Software Market Revenue and Forecast to 2028 (US$ Million)
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Europe Tax Software Market—Segmentation
Europe Tax Software Market by Type
- Software
- Service
Europe Tax Software Market by Deployment
- On-Premise
- Cloud
Europe Tax Software Market by Tax Type
- Sales Tax
- Income Tax
- Corporate Tax
- Others
Europe Tax Software Market by Industry Vertical
- BFSI
- IT & Telecom
- Healthcare
- Government
- Retail
- Others
Europe Tax Software Market by Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Europe Tax Software Market-Companies Mentioned
- Apex Analyticx
- Avalara Inc
- Chetu, Inc
- H & R Block; Intuit Inc.
- Sage Group PLC
- Thomson Reuters Corporation
- Vertex, Inc.
- Wolters Kluwer N.V.
- Xero Limited.
- Intuit Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Tax Type, Deployment Type, End-User, and Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
France, Germany, Italy, Russian Federation, United Kingdom
Frequently Asked Questions
In the current scenario, there are number of key trends prevailing in tax which will help in transforming the entire tax industry. It includes digitisation of tax & compliance, adoption of cloud technologies, and development in financial services, as well as recovery of SMEs post COVID-19 pandemic outbreak. Companies like Thomson Reuters, Avalara are taking initiatives which are expected to help in boosting the market. For instance, Avalara have completed acquisition of various businesses to amplify tax content of their Avalara Compliance Cloud. The product caters requirement of businesses of various industries/geographies to enhance their ability to address transaction tax compliance.
Blockchain works as a record of information that is replicated and distributed across computers that are linked together in a network. These distributed records create a single record of a transaction that can be accessed and verified independently by all permitted parties in the transaction. The need for centralization through an intermediary is eliminated by the blockchain technology, thereby allowing parties to transact and share information directly with each other in a secure manner.
In 2020, rest of Europe led the market with a substantial revenue share. As use of tax software for filing tax returns for income tax is projected to rise at a high pace, the tax software providers persist with an opportunity to cater countries with high personal income tax rates.
Germany is anticipated to be a fastest growing country in the market. The Germany retail industry has arisen as one of the most active and fast-paced industries owing to the entry of numerous new players. Retail companies in the country are focusing on sales tax strategy. The companies are focusing on automated solutions which remove compliance risk increase accuracy and enhances efficiency. In addition, the country also aims to levy taxes on tech giants. Imposition of taxes on the country’s gigantic technological companies is expected to increase the use of advanced tax technologies as business operations of tech giants are spread widely.
Cloud accountancy has widely transformed how accountants work regularly and communicate with their customers. By enabling accountants to run accounting tasks despite any location, the use of the cloud is rising. The accountants are ready to play a vital role in presenting cloud computing to businesses. Adoption of cloud based platforms among accountant will help in penetrating the use of cloud-based tax software in the forthcoming period.
The major companies in tax software market includes Wolters Kluwer; Thomson Reuters; Avalara; Sovos Compliance; and Vertex. The listing of these five key players is derived by considering following key parameters: overall revenue, segmental revenue, brand image & industry expertise, current tax software portfolio and related products, customer base, geographical reach, research and development investments, patents, technology integration, new product launches, partnerships, mergers & acquisitions, and other market related activities.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Tax Software Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Tax Software Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Digitization Fuelling Overall Growth of Tax Systems
5.1.2 Retail Sector Continue to Stimulate Tax Software Demand
5.2 Market Restraints
5.2.1 Increasing Incidences of Cyberattacks
5.3 Market Opportunities
5.3.1 Use of Blockchain Technology
5.3.2 Growing Tax Industry
5.4 Future Trends
5.4.1 Enhancing Business Processes in Various Industries
5.5 Impact Analysis of Drivers and Restraints
6. Tax Software Market – Europe Analysis
6.1 Tax Software Market- Europe Overview
6.2 Europe: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
6.3 Europe Tax Software Market: Market Positioning – Five Key Players
7. Tax Software Market Analysis –By Product
7.1 Overview
7.2 Tax Software Market Breakdown, By Product, 2020 & 2028
7.3 Software
7.3.1 Overview
7.3.2 Software Market Forecast and Analysis
7.4 Service
7.4.1 Overview
7.4.2 Service Market Forecast and Analysis
8. Tax Software Market Analysis – By Tax Type
8.1 Overview
8.2 Tax Software Market Breakdown, By Tax Type, 2020 & 2028
8.3 Sales Tax
8.3.1 Overview
8.3.2 Sales Tax Market Forecast and Analysis
8.4 Income Tax
8.4.1 Overview
8.4.2 Income Tax Market Forecast and Analysis
8.5 Corporate Tax
8.5.1 Overview
8.5.2 Corporate Tax Market Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others Market Revenue and Forecast to 2028 (US$ Million)
9. Tax Software Market Analysis – By Deployment Type
9.1 Overview
9.2 Tax Software Market Breakdown, By Deployment Type, 2020 & 2028
9.3 On-Premise
9.3.1 Overview
9.3.2 On-Premise Market Forecast and Analysis
9.4 Cloud
9.4.1 Overview
9.4.2 Cloud Market Forecast and Analysis
10. Tax Software Market Analysis – By End-User
10.1 Overview
10.2 Tax Software Market Breakdown, by End-User, 2020 & 2028
10.3 Individual
10.3.1 Overview
10.3.2 Individual Market Revenue and Forecast to 2028 (US$ Million)
10.4 Commercial Enterprises
10.4.1 Overview
10.4.2 Commercial Enterprises Market Revenue and Forecast to 2028 (US$ Million)
11. Tax Software Market Analysis – By Vertical
11.1 Overview
11.2 Tax Software Market Breakdown, by Vertical, 2020 & 2028
11.3 BFSI
11.3.1 Overview
11.3.2 BFSI Market Revenue and Forecast to 2028 (US$ Million)
11.4 IT and Telecom
11.4.1 Overview
11.4.2 IT and Telecom Market Revenue and Forecast to 2028 (US$ Million)
11.5 Healthcare
11.5.1 Overview
11.5.2 Healthcare Market Revenue and Forecast to 2028 (US$ Million)
11.6 Government
11.6.1 Overview
11.6.2 Government Market Revenue and Forecast to 2028 (US$ Mn)
11.7 Retail
11.7.1 Overview
11.7.2 Retail Market Revenue and Forecast to 2028 (US$ Mn)
11.8 Others
11.8.1 Overview
11.8.2 Others Market Revenue and Forecast to 2028 (US$ Mn)
12. Tax Software Market – Country Analysis
12.1 Overview
12.1.1 Europe: Tax Software Market- by Key Country
12.1.1.1 Germany: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.1.1 Germany: Tax Software Market, by Product
12.1.1.1.2 Germany: Tax Software Market, by Tax Type
12.1.1.1.3 Germany: Tax Software Market, by Deployment Type
12.1.1.1.4 Germany: Tax Software Market- By End User
12.1.1.1.5 Germany: Tax Software Market- By Vertical
12.1.1.2 UK: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.2.1 UK: Tax Software Market, by Product
12.1.1.2.2 UK: Tax Software Market, by Tax Type
12.1.1.2.3 UK: Tax Software Market, by Deployment Type
12.1.1.2.4 UK: Tax Software Market- By End User
12.1.1.2.5 UK: Tax Software Market- By Vertical
12.1.1.3 France: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.3.1 France: Tax Software Market, by Product
12.1.1.3.2 France: Tax Software Market, by Tax Type
12.1.1.3.3 France: Tax Software Market, by Deployment Type
12.1.1.3.4 France: Tax Software Market- By End User
12.1.1.3.5 France: Tax Software Market- By Vertical
12.1.1.4 Italy: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.4.1 Italy: Tax Software Market, by Product
12.1.1.4.2 Italy: Tax Software Market, by Tax Type
12.1.1.4.3 Italy: Tax Software Market, by Deployment Type
12.1.1.4.4 Italy: Tax Software Market- By End User
12.1.1.4.5 Italy: Tax Software Market- By Vertical
12.1.1.5 Russia: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.5.1 Russia: Tax Software Market, by Product
12.1.1.5.2 Russia: Tax Software Market, by Tax Type
12.1.1.5.3 Russia: Tax Software Market, by Deployment Type
12.1.1.5.4 Russia: Tax Software Market- By End User
12.1.1.5.5 Russia: Tax Software Market- By Vertical
12.1.1.6 Rest of Europe: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.6.1 Rest of Europe: Tax Software Market, by Product
12.1.1.6.2 Rest of Europe: Tax Software Market, by Tax Type
12.1.1.6.3 Rest of Europe: Tax Software Market, by Deployment Type
12.1.1.6.4 Rest of Europe: Tax Software Market- By End User
12.1.1.6.5 Rest of Europe: Tax Software Market- By Vertical
13. Tax Software Market- COVID-19 Impact Analysis
14. Industry Landscape
14.1 Market Initiative
14.2 New Product Development
14.3 Merger and Acquisition
15. Company Profiles
15.1 APEX Analytix, LLC.
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
15.2 Avalara, Inc.
15.2.1 Key Facts
15.2.2 Business Description
15.2.3 Products and Services
15.2.4 Financial Overview
15.2.5 SWOT Analysis
15.2.6 Key Developments
15.3 Chetu, Inc.
15.3.1 Key Facts
15.3.2 Business Description
15.3.3 Products and Services
15.3.4 Financial Overview
15.3.5 SWOT Analysis
15.3.6 Key Developments
15.4 Intuit, Inc.
15.4.1 Key Facts
15.4.2 Business Description
15.4.3 Products and Services
15.4.4 Financial Overview
15.4.5 SWOT Analysis
15.4.6 Key Developments
15.5 Vertex, Inc.
15.5.1 Key Facts
15.5.2 Business Description
15.5.3 Products and Services
15.5.4 Financial Overview
15.5.5 SWOT Analysis
15.5.6 Key Developments
15.6 The Sage Group plc
15.6.1 Key Facts
15.6.2 Business Description
15.6.3 Products and Services
15.6.4 Financial Overview
15.6.5 SWOT Analysis
15.6.6 Key Developments
15.7 Xero Limited
15.7.1 1.7.1 Key Facts
15.7.2 Business Description
15.7.3 Products and Services
15.7.4 Financial Overview
15.7.5 SWOT Analysis
15.7.6 Key Developments
15.8 Thomson Reuters Corporation
15.8.1 Key Facts
15.8.2 Business Description
15.8.3 Products and Services
15.8.4 Financial Overview
15.8.5 SWOT Analysis
15.8.6 Key Developments
15.9 Wolters Kluwer (CCH Incorporated)
15.9.1 Key Facts
15.9.2 Business Description
15.9.3 Products and Services
15.9.4 Financial Overview
15.9.5 SWOT Analysis
15.9.6 Key Developments
15.10 H & R Block
15.10.1 Key Facts
15.10.2 Business Description
15.10.3 Products and Services
15.10.4 Financial Overview
15.10.5 SWOT Analysis
15.10.6 Key Developments
15.11 Sovos Compliance, LLC.
15.11.1 Key Facts
15.11.2 Business Description
15.11.3 Products and Services
15.11.4 Financial Overview
15.11.5 SWOT Analysis
15.11.6 Key Developments
16. Appendix
16.1 About The Insight Partners
16.2 Word Index
LIST OF TABLES
Table 1. Tax Software Market – Revenue, and Forecast to 2028 (US$ Million)
Table 2. Germany: Tax Software Market, by Product –Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany: Tax Software Market, by Tax Type –Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Tax Software Market, by Deployment Type –Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: Tax Software Market- By End User –Revenue and Forecast to 2028 (US$ Million)
Table 6. Germany: Tax Software Market- By Vertical –Revenue and Forecast to 2028 (US$ Million)
Table 7. UK: Tax Software Market, by Product –Revenue and Forecast to 2028 (US$ Million)
Table 8. UK: Tax Software Market, by Tax Type –Revenue and Forecast to 2028 (US$ Million)
Table 9. UK: Tax Software Market, by Deployment Type –Revenue and Forecast to 2028 (US$ Million)
Table 10. UK: Tax Software Market- By End User –Revenue and Forecast to 2028 (US$ Million)
Table 11. UK: Tax Software Market- By Vertical –Revenue and Forecast to 2028 (US$ Million)
Table 12. France: Tax Software Market, by Product –Revenue and Forecast to 2028 (US$ Million)
Table 13. France: Tax Software Market, by Tax Type –Revenue and Forecast to 2028 (US$ Million)
Table 14. France: Tax Software Market, by Deployment Type –Revenue and Forecast to 2028 (US$ Million)
Table 15. France: Tax Software Market- By End User –Revenue and Forecast to 2028 (US$ Million)
Table 16. France: Tax Software Market- By Vertical –Revenue and Forecast to 2028 (US$ Million)
Table 17. Italy: Tax Software Market, by Product –Revenue and Forecast to 2028 (US$ Million)
Table 18. Italy: Tax Software Market, by Tax Type –Revenue and Forecast to 2028 (US$ Million)
Table 19. Italy: Tax Software Market, by Deployment Type –Revenue and Forecast to 2028 (US$ Million)
Table 20. Italy: Tax Software Market- By End User –Revenue and Forecast to 2028 (US$ Million)
Table 21. Italy: Tax Software Market- By Vertical –Revenue and Forecast to 2028 (US$ Million)
Table 22. Russia: Tax Software Market, by Product –Revenue and Forecast to 2028 (US$ Million)
Table 23. Russia: Tax Software Market, by Tax Type –Revenue and Forecast to 2028 (US$ Million)
Table 24. Russia: Tax Software Market, by Deployment Type –Revenue and Forecast to 2028 (US$ Million)
Table 25. Russia: Tax Software Market- By End User –Revenue and Forecast to 2028 (US$ Million)
Table 26. Russia: Tax Software Market- By Vertical –Revenue and Forecast to 2028 (US$ Million)
Table 27. Rest of Europe: Tax Software Market, by Product –Revenue and Forecast to 2028 (US$ Million)
Table 28. Rest of Europe: Tax Software Market, by Tax Type –Revenue and Forecast to 2028 (US$ Million)
Table 29. Rest of Europe: Tax Software Market, by Deployment Type –Revenue and Forecast to 2028 (US$ Million)
Table 30. Rest of Europe: Tax Software Market- By End User –Revenue and Forecast to 2028 (US$ Million)
Table 31. Rest of Europe: Tax Software Market- By Vertical –Revenue and Forecast to 2028 (US$ Million)
Table 32. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe: Tax Software Market Segmentation
Figure 2. Tax Software Market Segmentation – By Country
Figure 3. Europe Tax Software Overview
Figure 4. Software Held the Largest Market Share in 2020
Figure 5. Sales Tax Held the Largest Market Share in 2020
Figure 6. Cloud Held the Largest Market Share in 2020
Figure 7. Europe: PEST Analysis
Figure 8. Tax Software Market – Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. Tax Software Market Impact Analysis of Drivers and Restraints
Figure 11. Europe: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Europe Tax Software Market Breakdown, By Product, 2020 & 2028 (%)
Figure 13. Software Market Revenue and Forecast to 2028 (US$ Mn)
Figure 14. Service Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Tax Software Market Breakdown, By Tax Type, 2020 & 2028 (%)
Figure 16. Sales Tax Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Income Tax Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Corporate Tax Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Others Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Tax Software Market Breakdown, By Deployment Type, 2020 & 2028 (%)
Figure 21. On-Premise Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Cloud Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Tax Software Market Breakdown, by End-User (2020 and 2028)
Figure 24. Individual Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Commercial Enterprises Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Tax Software Market Breakdown, by Vertical (2020 & 2028)
Figure 27. BFSI Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. IT and Telecom Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. Healthcare Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. Government Market Revenue and Forecast to 2028(US$ Mn)
Figure 31. Retail Market Revenue and Forecast to 2028(US$ Mn)
Figure 32. Others Market Revenue and Forecast to 2028(US$ Mn)
Figure 33. Europe: Tax Software Market Revenue Share, By Key Country (2020 and 2028)
Figure 34. Germany: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. UK: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. France: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. Italy: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. Russia: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 39. Rest of Europe: Tax Software Market – Revenue and Forecast to 2028 (US$ Million)
Figure 40. Impact of COVID-19 Pandemic in European Countries
The List of Companies - Europe Tax Software Market
- APEX Analytix
- Avalara Inc.
- Chetu, Inc.
- H & R Block
- Intuit Inc.
- Sage Group PLC
- Thomson Reuters Corporation
- Vertex, Inc.
- Wolters Kluwer N.V.
- Xero Limited
- The Sovos Compliance, LLC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Solutions and Services), Deployment Type (Cloud-Based and On-Premise), Platform (Desktop and Mobile), Organization Size (Large Enterprises and SMEs), End User (BFSI, Government and Defense, Healthcare, IT and Telecom, Automotive and Transportation, Retail, Manufacturing, and Others), and Geography
Aug 2021
AI in Computer Vision Market
Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Software and Hardware) and End Use Industry (Security and Surveillance, Manufacturing, Automotive, Retail, Sports and Entertainment, and Others), and Geography
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