The India e-invoicing market is expected to exhibit a CAGR of 24.97% 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. These insights are included in the report as a major market contributor.
Electronic invoice, or e-invoice, refers to the invoices developed, reserved, and amended in a structured configuration through an electronic system, enclosing the debit and credit notes, purchase orders, and remittance vouchers specifying payment terms and conditions. E-invoicing is widely implemented in India to plug gaps in GST data reconciliation and curtail tax evasion. An e-invoice includes PDF, XML, or word formatted invoice data on a webpage or electronic mail. Easily deployable via smart devices like smartphones, tablets, or laptops, they can be integrated with the cloud for seamless operations. Thus, e-invoicing helps reduce human errors and processing time while increasing data quality and invoice accuracies.
India E-Invoicing Market Trends:
The India e-invoicing market is primarily driven by the rising need for transparency in invoicing. The increasing adoption of e-invoicing for streamlining invoice management and reduced audit risks are also contributing to the market demand. In line with this, rapid implementations of e-invoicing regulations to keep track of the shadow economy and the loss of tax revenue, incentives and compensations are providing lucrative growth opportunities in the market. Moreover, the emerging fair competition policies and the widespread usage of e-invoicing solutions across retail outlets for improving consumer protection for transactional documents are acting as major growth-inducing factors for the market. Additionally, the increasing need to lower commercial concealment while complying with tax obligations is further providing a boost to the e-invoicing market in the region.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India e-invoicing market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on channel, deployment type and application.
Breakup by Channel:
Breakup by Deployment Type:
Breakup by Application:
- Energy and Utilities
Breakup by Region:
- North India
- West and Central India
- South India
- East India
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
| Historical Period
||Channel, Deployment Type, Application, Region
||North India, West and Central India, South India, East India
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Key Questions Answered in This Report:
- How has the India 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 India 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 India e-invoicing market and who are the key players?
- What is the degree of competition in the industry?