Rising popularity of cryptocurrencies likely to drive the crypto tax software market, reaching USD 492.2 million at a staggering CAGR of 12.7% between the forecast period 2022-32
NEWARK, DE / ACCESSWIRE / November 7, 2022 / The global crypto tax software market is worth USD 149.1 million as of now and is estimated to reach USD 492.2 million by the year 2032 with a huge CAGR of 12.7% between 2022 and 2032.
Crypto tax software can be referred to as an enterprise-class financial reporting and crypto accounting platform. Its basic functionality includes simplifying important accounting and various back office tasks such as importing the cryptocurrency activities. It should be noted that almost 10% of the cryptocurrency market is dominated by the crypto tax software market.
Crypto tax software can be effectively used to prepare taxes for the cryptocurrency assets. They could actually use crypto tax software to assess crypto trading losses and profits and also expense deductions. This software has a 100% cryptocurrency portfolio tracking as well as analytics tools to give users an overview of their cryptocurrency holdings across multiple wallets and exchanges.
Request a report sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15646
NFTs and ETFs (Exchange Traded Funds) are the two cutting edge products being introduced by a number of players and expected to revolutionize the BFSI vertical. There are regions such as El Salvador, Iran and Venezuela, which are negatively affected by the long-term crises with rising inflation. The result is that the residents here switch to cryptocurrencies as a store of value and also as a medium of exchange for the essentials. These factors are expected to come through as blessing in disguise for the crypto tax software market in the near future.
Add at the same time the fact that robust governance, operational and risk practices are not yet standardized. As such, various outages have taken place during market volatility regarding cryptocurrency exchanges. Hacking has also led to money being stolen. These factors may limit the crypto tax software market in the near future. Future Market Insights has gone through these facts with future perspectives in its latest market study titled ‘Crypto Tax Software Market’. It has its team of analysts and consultants to carry out the same.
Key Takeaways from the Crypto Tax Software Market
-
North America and Europe are going smoothly with crypto tax software and the scenario is expected to persist going forward as well.
-
The Asia-Pacific region is the region prone to an uneasy situation here. This is basically due to increasing demand for cryptocurrency, especially from South Asia. This region is expected to witness a CAGR of 17% between 2022 and 2032. However, in countries like Indonesia and India, the spread of cryptocurrency is a bit difficult as there is a lack of universal standards and regulations for exchange platforms. Digital money is also in the development stage.
Challenging landscape
-
In October 2022, ZenLedger partnered with Bitpay to accept cryptocurrency payments. Through this collaboration, the company would reduce transaction fees and at the same time increase efficiency and transparency.
-
BearTax crypto tax software reduces downtime by offering seamless integration with multiple exchanges, along with intelligently matching trades across all exchanges, gathering historical data for each and every coin.
-
TokenTax appears not only as a crypto tax calculation software, but an end-to-end crypto tax accounting firm.
“Recognizing the fact that crypto-tax software makes it easier for accountants, institutions and auditors to deal with the complicated world of digital assets, the global crypto-tax software market is poised to positively transform BFSI (banking, finance). , Software, and Insurance) domain”, says an analyst from Future Market Insights.
Browse the entire report@ https://www.futuremarketinsights.com/reports/crypto-tax-software-market
What does the report include?
-
Future Market Insights offers an exclusive perspective and various real-time insights on the crypto tax software market in its latest study, which presents historical demand assessment from 2016 – 2021 and projections for 2022 – 2032.
-
The research study is based on distribution (cloud-based crypto tax software and on-premise crypto tax software), and by end user (personal and enterprise (SMB and large enterprises).
-
As crypto tax software provides a holistic picture of digital asset activity by checking transactions and assets via institutional custody solutions, the market for crypto tax software is bound to escalate during the forecast period.
Crypto Tax Software Outlook by Category
When distributing:
By end user:
By region:
Ask an analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-15646
Table of contents
1. Summary
1.1. Global market outlook
1.2. Demand side trends
1.3. Offer page trends
1.4. Analysis and recommendations
2. Market overview
2.1. Market coverage / taxonomy
2.2. Market definition / scope / limitations
3. Important market trends
3.1. Important trends affecting the market
3.2. Product innovation / development trends
4. Price analysis
4.1. Types of pricing models
4.2. Global Price Analysis Reference
5. Global Crypto Tax Software Market Demand (In USD Mn Value) Analysis 2017-2021 and Forecast, 2022-2032
5.1. Analysis of historical market value (US$ Mn), 2017-2021
5.2. Estimates of current and future market value (US$ Mn), 2022-2032
5.2.1. Annual growth trend analysis
5.2.2. Absolute $ opportunity analysis
To be continued…!
Take a look at the latest related technology reports The domain
MEA Enterprise Software Market: The MEA enterprise software market revenue was USD 7,727.9 million in 2021. The EIA market is expected to reach USD 13,791.4 million by 2032, growing at a CAGR of 5.5% for 2022-2032.
Poland IT Software and Services Market: The market is expected to register a strong growth of 5.9% CAGR during the forecast period to reach USD 6,245.8 million by 2020. Both the IT software and services segments contributed a significant contribution to the overall growth of the digital transformation market in the region.
Russian IT Software and Services Market: The market is expected to register a strong growth of 7.2% CAGR during the forecast period to reach USD 8,628.2 million by 2020. Both the IT software and services segments provided a significant contribution to the overall growth of the Russian IT market in the European region.
Survey and Feedback Software Market: The survey and feedback software market is gaining significant momentum and is expected to register a CAGR of 16.5% during the forecast period.
Metrology Software Market: Metrology software market value was ~US$ 860 million in 2020, according to Future Market Insights (FMI). Metrology software market sales are expected to exceed ~US$ 1.8 billion by 2031, growing at a CAGR of around 7.0% for 2021-31.
ABOUT FUTURE MARKET INSIGHTS, INC.
Future Market Insights, Inc. is an ESOMAR-certified business consulting and market research firm, a member of the Greater New York Chamber of Commerce and headquartered in Delaware, USA. As a recipient of Clutch Leaders Award 2022 due to high customer score (4.9/5), we have partnered with global enterprises in their business transformation journey and helped them deliver on their business ambitions. 80% of the largest Forbes 1000 companies are our customers. We serve global clients across all leading and niche market segments across all major industries.
Consult:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For sales enquiries: [email protected]
Browse the latest market reports: https://www.futuremarketinsights.com/reports
SOURCE: Future Market Insights Inc.
See the source version at accesswire.com:
