E-invoicing Market Huge Growth Opportunity by 2031

E-invoicing Market: Introduction

Electronic invoicing, also known as e-invoicing is the interchange of the invoice document between the supplier and the buyer in an integrated automated format.

An electronic invoice (e-invoice) is an invoice that is issued, transmitted, received, processed, and stored electronically using specific document formats. E-invoices are digital throughout the entire document life cycle, from issuance to archiving.

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Conventionally, invoicing was like a kind of heavily paper-based procedure, which is manually exhaustive and is also prone to human error, leading to increased cost and processing lifecycle for companies.

Rise in Demand for E-invoicing in Information Technology and Retail Industry
Continuously growing need to automate the invoicing procedure and to reduce the overall operational cost is a major growth driver of the e-invoicing market.

Emergence of public and private cloud computing is also acting as a key driving factor for the e-invoicing market. Therefore, the growing need for faster payment and processing cycles and enhanced account reconciliation are the main factors anticipated to catalyze the growing demand for e-invoicing during the forecast period.
In addition, improved cash management, better dispute handling, and alternate finance options are also anticipated to increase the demand for e-invoicing in the upcoming years, in turn impacting the e-invoicing market in a positive manner during the forecast period.

The growing demand for improved dispute handling and better supplier relationship is likely to create significant opportunity for e-invoicing in the coming years. Besides, improved compliance and enhanced IT system optimization is also projected to be an opportunity factor for the e-invoicing market during the forecast period.
North America to Lead the Global E-invoicing Market.

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Geographically, the global e-invoicing market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The global e-invoicing market is mainly driven by North America. Growing volume of e- invoices along with the higher adoption of electronic transaction between trading partners is driving the market in the North America region. Rapidly growing demand for e-invoicing in the B2B segment is predicted to fasten the demand for e-invoicing in the U.S., thereby driving the e-invoicing market rapidly.

The markets in Europe and South America are expected to grow significantly during the forecast period because of the higher adoption of e-invoicing in the government sector.
Furthermore, the global e-invoicing market is likely to expand in Asia Pacific and the Middle East region due to rise in use of cloud platforms in billing, which ensures transparent billing.

Key Players in the Global E- Invoicing Market

Basware Corporation
Cegedim SA
Comarch SA
Coupa Software Inc.
IBM Corporation
Nipendo Ltd.
SAP SE
The Sage Group Plc
Tradeshift
Transcepta LLC
Others
Global E- invoicing Market: Research Scope
Global E- invoicing Market, by Deployment

Cloud
On-premises
Global E- invoicing Market, by End-user

B2B
B2C
Others
Global E-invoicing Market, by Region

North America
U.S.
Canada
Rest of North America
Europe
Germany
France
U.K.
Italy
Spain
Russia
Rest of Europe

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