IMARC Group’s report titled “E-Invoicing Market Report by Channel (B2B, B2C, and Others), Deployment Type (Cloud-based, On-premises), Application (Energy and Utilities, FMCG, E-Commerce, BFSI, Government, and Others), and Region 2024-2032“. The global e-invoicing market size reached US$ 13.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 60.9 Billion by 2032, exhibiting a growth rate (CAGR) of 17.7% during 2024-2032.
Factors Affecting the Growth of the E-Invoicing Industry:
- Growing Fintech Companies:
Fintech companies are promoting the use oficing through the introduction of creative solutions for invoicing and payment processes. With the use of cutting-edge technology, these firms develop e-invoicing systems that integrate digital payment capabilities seamlessly. Additionally, fintech entities support businesses in managing invoicing tasks more efficiently by offering user-friendly interfaces and simplified procedures. These platforms often include supplementary functions such as invoice tracking, automated alerts, and real-time reporting, enabling businesses to enhance their invoicing operations. As a result, electronic invoicing simplifies transactions and acts as a valuable tool for enhancing cash flow, reducing costs, and increasing operational adaptability.
- Supportive Government Regulations:
Official policies and initiatives are driving the adoption of electronic invoicing, with mandatory regulations accelerating the transition from traditional paper-based systems to digital alternatives. Governments are recognizing the benefits of e-invoicing, including reduced administrative tasks, improved tax compliance, and increased transparency in commercial transactions. To facilitate this shift, authorities are establishing clear frameworks, standards, and compliance mechanisms that enable businesses to seamlessly integrate e-invoicing solutions. Moreover, government-backed programs, such as e-procurement initiatives and interoperability platforms, are actively promoting the uptake of e-invoicing by providing the necessary infrastructure and incentives for companies to modernize their invoicing processes.
- Technological Advancements:
Breakthroughs in cutting-edge technologies such as cloud computing, artificial intelligence, and blockchain are revolutionizing the world of e-invo, and accessibility, allowing them to manage invoicing data from anywhere, at any time. AI-powered tools enable the automated extraction, verification, and detection of anomalies in invoices, resulting in significantly improved accuracy and efficiency. Meanwhile, blockchain technology fortifies e-invoicing with robust security, transparency, and immutability through the creation of tamper-proof transaction recordsvoicing processes are becoming increasingly secure, reliable, and feature-rich, with innovations such as smart contracts and instant settlement. This, in invoicing workflows, minimize errors, and reduce the risk of fraudulent activity, ultimately driving widespread adoption of e-invoicing across industries.
Leading Companies Operating in the Global E-Invoicing Industry:
- 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
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/e-invoicing-market/requestsample
E-Invoicing Market Report Segmentation:
By Channel:
- B2B
- B2C
- Others
B2C represents the largest segment due to the widespread adoption of electronic invoicing among businesses catering directly to consumers, such as retailers and service providers.
By Deployment Type:
- Cloud-based
- On-premises
Cloud-based accounts for the largest market share due to its flexibility, scalability, and cost-effectiveness, appealing to businesses of all sizes.
By Application:
- Energy and Utilities
- FMCG
- E-Commerce
- BFSI
- Government
- Others
E-commerce dominates the market due to the digitalization of retail and the increasing volume of online transactions is escalating the demand for electronic invoicing solutions.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Global E-Invoicing Market Trends:
Presently, the integration of electronic invoicing into supply chain management systems offers improved control and handling of the entire procurement process. This merger enables companies to optimize inventory levels, reduce lead times, and strengthen partnerships with suppliers. Moreover, advanced technologies such as blockchain and artificial intelligence enhance electronic invoicing operations. For instance, blockchain ensures secure invoice transactions, while AI automates invoice validation and reconciliation. Furthermore, electronic invoicing promotes corporate sustainability goals by reducing paper consumption and carbon emissions associated with conventional invoicing methods.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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