According to IMARC Group’s latest report, titled “E-Invoicing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global e-invoicing market reached a value of US$ 8.74 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.68 Billion by 2027, exhibiting at a CAGR of 21.5% during 2022-2027.
Report Metric
Historical: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
E-invoicing, alternatively known as electronic invoicing, refers to the system of electronic bill generation through a digital platform in a standardized format during an exchange of goods and services. In terms of deployment type, it can be categorized into cloud-based and on-premises solutions. E-invoicing processes are usually conducted through several smart devices, such as laptops, desktops, mobile phones, tablets, etc., and include purchase orders, credit and debit notes, and remittance vouchers specifying the terms and conditions of the payment. They offer faster invoice processing time, improved accuracy and data quality, reduced instances of delayed payments, convenient tracking of business transactions, etc. Consequently, e-invoicing methods are extensively utilized across numerous sectors, including energy and utilities, fast-moving consumer goods (FMCG), e-commerce, banking, financial services and insurance (BFSI), etc.
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Market Trends
The expanding e-commerce industry and the growing adoption of advanced information technology (IT) solutions among the energy, telecommunications, and retail industries are primarily driving the e-invoicing market. Additionally, the development of software and web-based invoicing applications that can be integrated with artificial intelligence (AI), internet of things (IoT), and predictive analytics tools is further stimulating the global market. Moreover, the elevating requirement for automating the electronic invoicing procedures to lower the overall operational costs is acting as another significant growth-inducing factor. Besides this, the increasing usage of blockchain technology to ensure the security of billing records and the emerging trend of document digitalization for efficient processing and compliance needs are anticipated to catalyze the e-invoicing market over the forecasted period.
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List of Key Companies Covered in this Market Report:
- Araize Inc.
- Basware Oyj
- Brightpearl
- Cegedim (FCB SAS)
- Comarch SA
- Coupa Software Incorporated
- International Business Machines Corporation
- Nipendo Ltd.
- Paysimple Inc. (EverCommerce)
- SAP Ariba (SAP SE)
- The Sage Group Plc.
The report has segmented the market on the basis of channel, deployment type, application and geography.
Breakup by Channel:
- B2B
- B2C
- Others
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Application:
- Energy and Utilities
- FMCG
- E-Commerce
- BFSI
- Government
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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