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The global e-invoicing market was valued at US$ 6.6 Billion in 2020.
We expect the global e-invoicing market to grow at a CAGR of 22.1% during 2021-2026.
Rapid digitalization, coupled with the increasing penetration of e-billing trend in the retail sector, represent some of factors catalyzing the global e-invoicing market.
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 demand for e-invoicing.
Based on the channel, the global e-invoicing market can be segregated into B2B, B2C, and others. Among these, B2C channel currently holds the largest market share.
Based on the deployment type, the global e-invoicing market has been bifurcated into cloud-based and on-premises. Currently, cloud-based exhibits a clear dominance in the market.
Based on the application, the global e-invoicing market can be categorized into energy and utilities, FMCG, e-commerce, BFSI, government, and others. Among these, the e-commerce sector currently represents the largest segment.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, 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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