The United States e-invoicing market is expected to exhibit a CAGR of 21.76% 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 invoicing, or e-invoicing, generates electronic bills during the exchange of goods and services through a digital platform. It encloses debit and credit notes, purchase orders and remittance vouchers specifying the terms and conditions of the payment. Usually conducted through smart devices, such as smartphones, laptops, computers and tablets, e-invoicing can also be deployed via the cloud and on-premises solutions. Cloud-based e-invoicing offers multiple benefits, including enhanced invoice accuracy and data quality, faster invoice-processing time and transparency, and reduced instances of delayed payments and human errors. Therefore, e-invoicing helps track business transactions while simultaneously reducing system design, implementation, training, customization, and maintenance costs.
United States E-Invoicing Market Trends:
The market is primarily driven by substantial growth in the e-commerce industry. The widespread adoption of traditional invoice alternatives in advanced information technology (IT) solutions across the energy, telecommunications, retail, and banking, financial services and insurance (BFSI) industries represents one of the critical factors that create a positive outlook for the market. In line with this, continual improvements in the cloud-integrated web and software-based invoicing applications and the widespread adoption of artificial intelligence (AI), internet of things (IoT) and analytics tools are contributing to the market growth across the country. Additionally, the rising need for flexible e-invoicing solutions to support the frequently changing operational patterns by the vendors, the increasing adoption of blockchain technology to ensure document security, the emerging trend of document digitization for compliance requirements, and rapid industrial digitization for efficient processing are further driving the demand for e-invoicing across the United States.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the United States 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:
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
||Northeast, Midwest, South, West
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Key Questions Answered in This Report:
- How has the United States 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 United States 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 United States e-invoicing market and who are the key players?
- What is the degree of competition in the industry?