E-Invoicing Market Share, Industry Growth Analysis, Revenue, Size, Report 2024-2032

The latest report by IMARC Group, titled “E-Invoicing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 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.

E-invoicing involves the electronic creation, transmission, and receipt of invoices among businesses and their trading partners. Unlike conventional paper-based invoicing methods, e-invoicing leverages digital technology to streamline the invoicing process, making it more efficient, precise, and economical. It automates every stage of invoicing, from generating invoices to receiving payments, thereby eliminating the necessity for manual input and paperwork. This modern approach provides businesses with various benefits, including decreased errors, quicker invoice processing, and improved insight into financial transactions.

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E-Invoicing Market Trends and Drivers:

One of the primary drivers of the market is the pursuit of cost efficiency. Traditional paper-based invoicing incurs costs associated with printing, postage, and manual processing. E-Invoicing eliminates these expenses, allowing businesses to redirect their resources towards growth initiatives. In addition, e-invoicing optimizes the entire invoicing workflow. Invoices are generated and transmitted electronically, reducing the time it takes for invoices to reach their recipients. This streamlined process accelerates payment cycles, improving cash flow management for businesses. Besides, governments worldwide are increasingly recognizing the benefits of e-invoicing in reducing tax fraud and improving tax collection. Consequently, many countries are implementing or considering regulations mandating e-invoicing. Staying compliant with these evolving regulations is a key driver for businesses. Besides, in an era of increasing cybersecurity concerns, e-invoicing offers enhanced security for sensitive financial information. Secure encryption and authentication protocols protect invoice data, reducing the risk of fraudulent activities and data breaches. Moreover, as businesses expand globally, the need for efficient cross-border invoicing becomes paramount. E-invoicing simplifies international transactions by standardizing invoice formats and facilitating seamless cross-border trade. Furthermore, in alignment with growing environmental consciousness, e-invoicing is a sustainable alternative to paper-based invoicing. The reduction in paper usage, ink, and transportation contributes to a more eco-friendly business model, thus propelling the market. 

Report Segmentation:

The report has segmented the market into the following categories:

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

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

Competitive Landscape with Key Player:

• 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

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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