Tax Advisory Services Market Expected to Reach $97.1 Billion by 2031—Allied Market Research

Tax Advisory Services Market

Report Code : A31503

quote The increasing reliance on tax advisory firms by the organizations to reduce taxes and have an efficient financial performance is boosting the growth of the market. quote

Kanhaiya Ramesh Kathoke - Research Analyst
BFSI at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       

According to a new report published by Allied Market Research, titled, “Tax Advisory Services Market," The tax advisory services market was valued at $34.6 billion in 2021, and is estimated to reach $97.1 billion by 2031, growing at a CAGR of 11.2% from 2022 to 2031.

Various companies are expanding their current services to meet the continuous rise in demand with increase in demand for tax advisory services. For instance, in June 2022, Goldman Sachs Asset Management launched its asset management and distribution platform for the State of Arizona’s AZ529, Advisor Plan, the Goldman Sachs 529 Plan. Ascensus College Savings Recordkeeping Services, LLC (Ascensus) will serve as the new program manager. As a global leader in active investing, the company will provide business tax advisory solutions at scale to meet the clients’ evolving needs across all areas of the asset management landscape driving the growth for tax advisory services market.

Furthermore, market players are expanding their business operations and customers by increasing their acquisition. For instance, in June 2021, J.P. Morgan has entered into an agreement to acquire OpenInvest, a leading financial technology company that helps financial professionals customize and report on values-based investments and tax filings. The company will retain its own brand and be integrated into J.P. Morgan’s Private Bank and Wealth Management client offerings.

By industry vertical, the BFSI segment acquired the major share for the tax advisory services market. This is attributed to the fact that tax advisory services are frequently used in the banking, financial services, and insurance (BFSI) sectors to file the returns on client investments and prepare the tax audits. Experienced tax advisory can assist firms in manage taxes over customer investments, which increases the likelihood of financial sector enterprises receiving additional funding and broadening their margins.

Region-wise, North America dominated the tax advisory services market share in 2021. This is attributed to the rising borrowing costs and geopolitical tensions in the region which encourage consumers to consult professional tax consultants.

There has been a significant shift in consumer patterns for tax advisory services industry during the pandemic. In addition, COVID-19 caused a technological disruption; as a result, enterprises are applying artificial intelligence & machine learning technologies to give solutions & services to clients to meet the demands of changing consumer trends resulting in tax advisory services market growth. Furthermore, this boosted the demand for income tax advisory services during the pandemic.    

Key Findings of the Study

  • By organization size, the large enterprises segment accounted for the highest tax advisory services market share in terms of revenue in 2021.
  • By type, the indirect tax advisory segment is expected to exhibit the fastest growth rate during the forecast period in tax advisory services market trends.
  • Region-wise, North America generated the highest revenue in 2021 in tax advisory services market size.  

The key players operating in the tax advisory services market analysis include Accenture Inc., Aon PLC, Bank of America Corporation, Citigroup Inc., CGI, Inc., Cognizant, CSC Consulting Services, CREDIT SUISSE GROUP AG, Deloitte, Goldman Sachs, JPMorgan Chase & Co., Morgan Stanley, Northern Trust Corporation, PwC, Wells Fargo, Tax scouts, and Taxfyle. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com


For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample

First time buyer?
Check offers and discount on this report
To get this report

Click Here

quote Tax Advisory Services Market by Type (Direct Tax Advisory, Indirect Tax Advisory), by Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), by Industry Vertical (BFSI, IT and Telecom, Manufacturing, Retail and E-Commerce, Public Sector, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031 quote

View Report

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.




To ensure high-level data integrity, accurate analysis, and impeccable forecasts


For complete satisfaction


On-demand customization of scope of the report to exactly meet your needs


Targeted market view to provide pertinent information and save time of readers


Featured Readings


Published Date Apr 2024

Corporate training Market

Download Sample

Published Date Apr 2024

Extended Warranty Market

Download Sample

Published Date Apr 2024

5G Femtocell Market

Download Sample

Buy Full Version
"Tax Advisory Services Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction


On-demand customization of the scope of the report to exactly meet your needs


Targeted market view to provide pertinent information and save the time of readers