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Industry Landscape
The mileage tracking software industry is experiencing steady growth driven by increasing demand from self-employed individuals, gig economy workers, and businesses seeking automated solutions for tax compliance and expense management. Automation, ease of use, and IRS compliance are key drivers. Integration with accounting software and advanced analytics are emerging trends, indicating a move towards more comprehensive financial management tools.
Total Assets Under Management (AUM)
Number of self-employed individuals in United States
~Approximately 16.7 million (in 2023, based on BLS data) [1]
(Not explicitly mentioned in context for current year, but self-employment has seen fluctuations with a general upward trend post-pandemic. [2] CAGR)
- Includes independent contractors and gig workers.
- Driven by flexibility and diverse work opportunities.
- A significant portion requires mileage tracking for tax deductions.
Total Addressable Market
Approximately 1.5 billion