Press release
With 17.1% CAGR, E-invoicing Market Size in Europe To Hit US$ 3.6 Billion till 2023-28
E-invoicing Market Size Europe 2023
The Europe E-invoicing market size reached US$ 1.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.6 Billion by 2028, exhibiting a growth rate (CAGR) of 17.1% during 2023-2028.
Electronic invoicing (e-invoicing) is a streamlined and digital approach to creating, sending, receiving, and processing invoices between businesses. It replaces the traditional paper-based invoicing system with a more efficient and automated electronic process. It involves the generation of invoices in digital formats, which are then transmitted electronically to the systems of the recipient. It can be used by companies to enhance their invoicing procedures by minimizing manual data entry, reducing errors, and accelerating payment cycles. It assists in improving invoicing efficiency, reducing processing time, and optimizing financial operations.
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Europe E-Invoicing Market Trends and Drivers:
The increasing adoption of e-invoicing by retailers and e-businesses to automate invoicing for sales transactions, facilitate prompt billing, improve customer satisfaction, and expedite revenue collection represents one of the primary factors strengthening the market growth in Europe. In addition, the rising use of e-invoicing by healthcare providers in the region to manage billing and reimbursement processes efficiently and aid in accurate medical billing, and expedite insurance claim processing is favoring the growth of the market. Apart from this, the growing adoption of e-invoicing in logistics and transportation to streamline freight billing and payment processes, eliminate paper based delays, and enable real time transaction tracking is creating a positive outlook for the market in the region.
Europe E-Invoicing Market Report Segmentation:
The report has been segmented the market into 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 Country:
• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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