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“, offers a comprehensive analysis of the industry, which comprises insights on the global e-invoicing market share. The global market size reached US$ 13.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 60.9 Billion by 2032, exhibiting a growth rate (CAGR) of 17.7% during 2024-2032.
E-Invoicing, short for electronic invoicing, is a streamlined digital approach to creating, sending, receiving, and processing invoices between businesses. In contrast to traditional paper-based invoicing methods, e-invoicing leverages digital technology to automate and enhance the entire invoicing process. This entails generating invoices in electronic formats, securely transmitting them to clients or business partners, and facilitating seamless payment procedures. E-invoicing is rapidly gaining traction as organizations worldwide seek more efficient and cost-effective ways to manage their financial transactions. This innovative invoicing method ensures significant advantages in terms of accuracy, speed, and reduced administrative burden, making it a pivotal component of modern business operations.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/e-invoicing-market/requestsample
E-Invoicing Market Trends and Drivers:
At present, governments and regulatory bodies across the globe are increasingly recognizing the potential of e-invoicing to curb tax evasion, reduce fraud, and enhance transparency in financial transactions. As a result, many countries are implementing or considering regulations mandating the adoption of e-invoicing. This shift toward compliance-driven e-invoicing initiatives is propelling the market, as businesses are compelled to embrace digital invoicing to adhere to legal requirements and avoid penalties. Moreover, companies are increasingly drawn to e-invoicing for its ability to save time and resources, ultimately resulting in cost savings. The demand for solutions that seamlessly integrate e-invoicing into existing financial systems is on the rise, driving innovation in the market. Furthermore, with the expansion of businesses across borders, the complexity of invoicing grows. E-invoicing streamlines cross-border transactions by offering standardized formats and electronic exchange, reducing the challenges associated with invoicing in diverse regulatory environments. As companies continue to internationalize their operations, the need for efficient cross-border e-invoicing solutions is fostering market growth, facilitating smoother global trade, and improving business relationships worldwide.
Report Segmentation:
The report has segmented the market into the following categories:
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
Market 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 with Key Player:
- 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)
- The Sage Group Plc
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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