The latest report by IMARC Group, 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,” finds that the global e-invoicing market reached a value of US$ 13.5 Billion in 2023. E-invoicing, or electronic invoicing, is the process of electronic billing that involves the exchange of invoices between the supplier and the customer or buyer. It comprises debit and credit notes, purchase orders, and remittance vouchers. The e-invoicing procedure is carried out via cloud-based solutions, which helps in enhancing accuracy and data quality, avoiding delayed payments, and accelerating invoice-processing time. It also helps in tracking business transactions and reduces the cost incurred in system design, implementation, training and maintenance, as well as customization.
Global E-Invoicing Market Trends:
The market is primarily driven by the growth of the e-commerce industry on account of rising disposable incomes and the increasing penetration of the internet and smart devices. In addition, the adoption of cloud-based services across the energy, telecommunication, retail, and BFSI industries is significantly influencing the demand for e-invoicing. The increasing digital transformation is revolutionizing business processes by enhancing operations and reducing costs. Consequently, various large and small enterprises are investing in digital technologies like predictive analytics, big data, artificial intelligence, cloud computing, and the internet of things (IoT), which is propelling the demand for e-invoicing solutions. Furthermore, the introduction of new e-invoicing software that can be integrated with AI and the IoT is fueling the market growth. Looking forward, the market is expected to reach a value of US$ 60.9 Billion by 2032, exhibiting a CAGR of 17.7% during the forecast period (2024-2032).
Market Summary:
- Based on the channel, the market has been segmented into B2B, B2C, and others.
- On the basis of the deployment type, the market has been classified into cloud-based and on-premises.
- The market has been categorized based on the application into energy and utilities, FMCG, e-commerce, BFSI, government, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Araize Inc., Basware Oyj, Brightpearl, Cegedim Group (FCB SAS), Comarch SA, Coupa Software Incorporated, International Business Machines Corporation, Nipendo Limited, Paysimple Inc. (EverCommerce Inc.), SAP Ariba (SAP SE), and The Sage Group Plc.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
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 |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.
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