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