The latest report by IMARC Group, titled “E-Invoicing Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global e-invoicing market share. The global  market size reached US$ 11.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 35.9 Billion by 2028, exhibiting a growth rate (CAGR) of 20.26% during 2023-2028.

Electronic invoicing or e-invoicing is a streamlined digital process for creating, sending, receiving, and processing invoices between businesses and their clients. It replaces traditional paper-based invoicing, offering numerous advantages in efficiency, accuracy, and cost savings. It eliminates the need for manual data entry, reduces the chances of errors, enhances transparency, and expedites payment cycles. It often adheres to standardized formats, making it easier for companies to exchange invoices across different platforms, optimize their financial operations, and reduce administrative burdens. Additionally, the digital transformation in modern business practices fosters improved relationships between suppliers and clients while enhancing operational efficiency. 

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:

The e-invoicing market is primarily driven by the rising digitization. In addition, the shift toward digital transformation and the increasing use of mobile devices and connectivity allows businesses to create, send, receive, and manage invoices on the go, enhancing flexibility and responsiveness in financial operations thus influencing market growth. Moreover, companies are embracing digital tools and technologies and integrating their systems for seamless communication and data exchange with e-invoicing by providing a standardized, electronic format for invoices that can be easily integrated into various accounting and ERP systems, representing another major growth-inducing factor. Besides this, the growing awareness of environmental sustainability led to the widespread adoption of e-invoicing to reduce paper consumption and contribute to a greener, sustainable future, which helps businesses to minimize their carbon footprint, thus accelerating the sales demand. Furthermore, several governments are implementing initiatives to encourage e-invoicing to enhance transparency, combat tax evasion, and promote digitalization, thus creating a positive market outlook. 

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

Breakup by Region:

  • North America (U.S. & Canada) Europe (Germany
  • United Kingdom, France, Italy, Spain, Russia, and Others)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
  • Latin America (Brazil, Mexico)
  • Middle East & Africa

Competitive Landscape with the key players:

  • 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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