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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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Electronic invoicing, or e-invoicing, refers to the generation of electronic bills through a digital platform during an exchange of goods and services. It is usually conducted through various smart devices, such as mobile phones, laptops and tablets, and includes purchase orders, debit and credit notes and remittance vouchers that specify the terms and conditions of the payment. E-invoicing can also be deployed through the cloud and on-premises solutions that offer various other benefits, such as improved invoice accuracy and data quality, reduced instances of delayed payments and faster invoice-processing time and transparency. Apart from this, it aids in convenient tracking of business transactions and minimizing the costs associated with system design, customization, implementation, training and maintenance.
Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Significant growth in the e-commerce industry is one of the key factors creating a positive outlook for the market. Furthermore, widespread adoption of advanced information technology (IT) solutions across the banking, financial services and insurance (BFSI), energy, telecommunications and retail industries, is also driving the market growth. In line with this, product vendors are also offering flexible e-invoicing solutions to support the frequently changing operational patterns. Additionally, various technological advancements, such as the development of web and software-based invoicing applications that can be integrated with the cloud, artificial intelligence (AI), Internet of Things (IoT) and predictive analytics tools, are contributing to the market growth. Other factors, including the increasing adoption of blockchain technology to ensure the security of documents, along with the emerging trend of document digitalization for efficient processing and compliance requirements, are anticipated to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global e-invoicing market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on channel, deployment type and application.
Breakup by Channel:
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Breakup by Deployment Type:
Breakup by Application:
Breakup by Region:
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The report has also analysed the competitive landscape of the market with some of the key players being 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) and The Sage Group Plc.
|Base Year of the Analysis||2021|
|Segment Coverage||Channel, Deployment Type, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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) and The Sage Group Plc|
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The global e-invoicing market was valued at US$ 8.74 Billion in 2021.
We expect the global e-invoicing market to exhibit a CAGR of 21.5% during 2022-2027.
The expanding e-commerce sector, along with the rising integration of cloud-based and on-premises
solutions, for providing improved invoice accuracy, faster invoice-processing time, and
transparency, is currently driving the global e-invoicing market.
The sudden outbreak of the COVID-19 pandemic has led to a significant shift from brick-and-mortar
distribution channels towards e-commerce platforms which, in turn, is augmenting the utilization of
Based on the channel, the global e-invoicing market can be categorized into B2B, B2C, and others.
Among these, B2C channel exhibits a clear dominance in the market.
Based on the deployment type, the global e-invoicing market has been segmented into cloud-based
and on-premises. Currently, cloud-based solution represents the largest market share.
Based on the application, the global e-invoicing market can be bifurcated into energy and utilities,
FMCG, e-commerce, BFSI, government, others. Among these, the e-commerce sector accounts for
the majority of the total market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global e-invoicing market include 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), and The
Sage Group Plc.
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