E-Invoicing Market Size, Share, Growth and Report 2021-2026

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

E-Invoicing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global e-invoicing market reached a value of US$ 6.6 Billion in 2020. 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.

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. Looking forward, IMARC Group expects the global e-invoicing market to exhibit strong growth during the next five years.

Key Market Segmentation:

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, regional and country level from 2021-2026. Our report has categorized the market based on region, channel, deployment type and application.

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 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:

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.

Key Questions Answered in This Report:

How has the global e-invoicing market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global e-invoicing market?
What are the key regional markets?
What is the breakup of the market based on the channel?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global e-invoicing market and who are the key players?
What is the degree of competition in the industry?