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Tax Preparation Software Developers in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Tax Preparation Software Developers Market Research Report | Technology | Business Productivity Software | Aug 2012

Tax time: As incomes, households and computer use rise, demand will increase

IBISWorld’s Tax Preparation Software Developers market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
H&R Block Inc. H&R Block Inc. market share
Intuit Intuit market share
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 07-12
0.1%
Annual Growth 12-17
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Profit
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Employment
4,342
Businesses
48
Industry Analysis & Industry Trends

The Tax Preparation Software Developers industry experienced minimal overall growth over the past five years. When consumer incomes fell during the recession, they became less willing to pay for tax preparation software, and industry revenue fell in 2008 and 2009. But then revenue returned to growth as the economy stabilized thereafter. Growth in the next five years will come from an expanding consumer base and greater trust consumers will place in the security of tax preparation software. To a lesser extent, improving consumer incomes will encourage more consumers to pay for prepackaged tax preparation software over free online counterparts.... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Tax Preparation Software Developers industry is currently in the mature phase of its life cycle. Over the 10 years to 2017, industry value added (IVA), which measures the industry's contribution to the overall economy, is expected to increase at an average of only 0.8% per year, below average GDP growth of 1.9% over the same period.

Companies in the industry are innovating new ways of delivering their products to consumers (e.g. over a web browser, through a software-as-a-service model or through professional tax preparation firms), but few innovations are occurring for the actual product. Additionally, the industry is consolidating, with the top players – namely Intuit – increasing their market share as smaller firms exit the industry... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Tax Preparation Software Developers Industry?

This industry provides software, usually hosted online, that allows individuals to file federal and state tax returns. The software is designed to guide users through their tax returns step-by-step. Additionally, firms in the industry provide high-end software to tax preparation professionals and small businesses. This industry does not include tax planning software.

Industry Products
Consumer federal tax softwareConsumer state tax softwareSmall business tax preparation softwareProfessional tax preparation software
 
Industry Activities
Providing federal income tax preparation softwareProviding state income tax preparation softwareProviding small business tax preparation softwareProviding professional tax preparation software


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