The generative artificial intelligence (ai) in corporate tax management global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Generative Artificial Intelligence (AI) In Corporate Tax Management Market,
2024 report by The Business Research Company offers comprehensive insights into
the current state of the market and highlights future growth opportunities.
Market Size -
The generative artificial intelligence (AI) in corporate tax management market
size has grown exponentially in recent years. It will grow from $1.43 billion
in 2023 to $1.86 billion in 2024 at a compound annual growth rate (CAGR) of
30.7%. The growth in the historic period can be attributed to the increasing
adoption of AI by tax professionals, increasing transaction volume, increasing
usage of web-based e-commerce, an increasing quantity of digital transactions,
and increasing requirements for tax software.
The generative artificial intelligence (AI) in corporate tax management market
size is expected to see exponential growth in the next few years. It will grow
to $5.46 billion in 2028 at a compound annual growth rate (CAGR) of 30.8%. The
growth in the forecast period can be attributed to evaluating industry-specific
changes and generating forecasts based on financial statements, international
tax policies, transfer pricing adjustments, employee compensation plans, and
growing demand for automation. Major trends in the forecast period include
predictive analytics for tax planning, technological advancements, enhanced
fraud detection, cross-border tax optimization, and seamless integration with
ERP systems.
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Scope Of Generative Artificial Intelligence (AI) In Corporate Tax Management
Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Generative Artificial Intelligence (AI) In Corporate Tax Management Market
Overview
Market Drivers -
The increasing corporate investments are expected to propel the growth of
generative artificial intelligence (AI) in corporate tax management market going
forward. Corporate investments are rising due to increasing confidence in
economic recovery and the pursuit of innovation-driven growth opportunities.
Generative AI corporate investment tax management helps by optimizing tax
strategies, automating compliance processes, and providing data-driven insights
for strategic decision-making, thereby reducing costs and improving financial
efficiency. For instance, in March 2024, according to the Office for National
Statistics, a UK-based national statistical institute of the UK, in Quarter 4
(October to December) 2023, UK business investment rose by 1.4%, marking a 2.8%
increase compared to the same period in the previous year. Throughout 2023,
annual business investment in the UK grew by 5.5%. Therefore, the increasing
corporate investments are driving the growth of generative artificial
intelligence (AI) in corporate tax management market.
Market Trends -
Major companies operating in the generative AI in corporate tax management
market are focusing on developing advanced solutions, such as artificial
intelligence platforms, to enhance efficiency, accuracy, and compliance in tax
reporting and planning processes. An artificial intelligence (AI) platform
refers to a system or software that leverages AI technologies to handle various
tax-related tasks. For instance, in September 2023, Ernst & Young Global
Limited, a UK-based accounting company, launched EY.ai, a new unifying platform
to help organizations confidently adopt artificial intelligence (AI). It offers
unique features such as a modernized payroll care system using ChatGPT to
efficiently handle complex payroll inquiries, a business intelligence platform
that provides a comprehensive view of growth and risk through generative AI,
and a secure large language model that supports various applications from
conversational AI to product development.
The generative artificial intelligence (AI) in corporate tax management market
covered in this report is segmented –
1) By Component: Services, Software
2) By Deployment Mode: Cloud, On-Premises
3) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
(SMEs)
4) By Application: Tax Compliance, Tax Controversy Management, Tax Planning And
Advisory, Tax Reporting, Other Applications
5) By Industry Vertical: Banking, Financial Services, And Insurance (BFSI),
Energy And Utilities, Healthcare And Pharmaceuticals, Information technology
(IT) And Telecommunications, Manufacturing, Retail And E-Commerce, Other
Industry Verticals
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tax management market, Request now for Sample Report @
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Regional Insights -
North America was the largest region in the generative artificial intelligence
(AI) in corporate tax management market in 2023. The regions covered in the
generative artificial intelligence (AI) in corporate tax management market
report are Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
Key Companies -
Major companies operating in the generative artificial intelligence (AI) in
corporate tax management market are Amazon Web Services Inc., Deloitte Touche
Tohmatsu Limited, PricewaterhouseCoopers, Ernst & Young Global Limited,
KPMG International Limited, SAP SE, Capgemini SE, BDO Global, Intuit Inc., RSM
International, Thomson Reuters Corporation, Wolters Kluwer N.V., Baker Tilly International,
Alvarez & Marsal Holdings LLC, Alteryx Inc., Avalara Inc., EisnerAmper LLP,
Wipfli LLP, Marcum LLP, Vertex Inc., ClearTax Private Limited
Table of Contents
1. Executive Summary
2. Generative Artificial Intelligence (AI) In Corporate Tax Management Market
Report Structure
3. Generative Artificial Intelligence (AI) In Corporate Tax Management Market
Trends And Strategies
4. Generative Artificial Intelligence (AI) In Corporate Tax Management Market –
Macro Economic Scenario
5. Generative Artificial Intelligence (AI) In Corporate Tax Management Market
Size And Growth
…..
27. Generative Artificial Intelligence (AI) In Corporate Tax Management Market
Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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