Generative Artificial Intelligence (AI) In Corporate Tax Management Market Forecast and Insights: Exploring Growth Trends, Market Size, and Emerging Opportunities
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theGenerative Artificial Intelligence (AI) In Corporate Tax Management Market?
Increasing corporate investment is expected to support growth in generative AI in corporate tax management. Businesses are boosting investments to recover economically and seek innovation. Generative AI assists in managing corporate tax by optimizing strategies, streamlining compliance, and providing insights. The Office for National Statistics reported in March 2024 that UK business investment rose by 1.4% in Q4 2023 and grew by 5.5% over the year, which contributes to market growth.
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#What is the Projected CAGR for the Generative Artificial Intelligence (AI) In Corporate Tax Management Market Size from 2025 to 2034?
The generative AI in corporate tax management market size will grow from $1.86 billion in 2024 to $2.44 billion in 2025, with a CAGR of 31.0%. The historic growth is driven by the increasing adoption of AI by tax professionals, rising transaction volumes, the growth of web-based e-commerce, increasing digital transactions, and the growing need for tax software.
The generative AI in corporate tax management market size is projected to grow to $7.13 billion in 2029 at a CAGR of 30.7%. Growth factors include industry-specific changes, financial statement forecasts, international tax policies, transfer pricing adjustments, employee compensation plans, and automation demand. Major trends include predictive analytics for tax planning, technological advancements, fraud detection, cross-border tax optimization, and ERP system integration.
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What Are the Current Market Growth and Trends in theGenerative Artificial Intelligence (AI) In Corporate Tax Management Market That Industry Players Should Watch?
Companies in the generative AI for corporate tax management market are developing advanced solutions like AI platforms to improve efficiency, accuracy, and compliance in tax reporting and planning. An AI platform is a system that uses AI technologies to perform various tax-related tasks. For example, in September 2023, Ernst & Young Global Limited, a UK-based accounting firm, launched EY.ai, a unifying platform that assists organizations in adopting AI confidently. The platform includes a modernized payroll system using ChatGPT for handling complex payroll inquiries, a business intelligence tool offering insights into growth and risk, and a secure large language model supporting applications ranging from conversational AI to product development.
What Are the Major Market Players Making an Impact on theGenerative Artificial Intelligence (AI) In Corporate Tax Management Market Growth?
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
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How Are the Key Segments of the Generative Artificial Intelligence (AI) In Corporate Tax Management Market Driving Opportunities and Innovations?
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
Subsegments:
1) By Services: Consulting Services, Implementation Services, Managed Services, Support And Maintenance Services
2) By Software: Tax Compliance Software, Tax Planning Software, Tax Reporting Software, Tax Research Software, Integrated Tax Management Software
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What Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theGenerative Artificial Intelligence (AI) In Corporate Tax Management Market?# Market Expansion?
North America was the largest region in the generative artificial intelligence (AI) in corporate tax management market in 2024. 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.
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