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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 provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

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 Products Chapter

The industry's products can be segmented based on the type of tax return they help prepare (e.g. federal or state) as well as their targeted user. Consumers with average income levels have much simpler tax returns than businesses or wealthy consumers, who generate income from a variety of disparate sources. Notably, because some firms offer tax preparation software for free, the industry's product segmentation may not entirely reflect product usage patterns.

Consumer federal tax preparation software

Federal tax preparation software offered to consumers accounts for an estimated 34.0% of industry revenue. Firms typically offer this software online or via download or CD. Usually online versions of tax preparation software are offered for cheaper prices... 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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