United States E-Invoicing Market Size to Surpass US$ 14,412.2 Million by 2032, exhibiting a CAGR of 17.58% | IMARC Group

How big is the United States E-Invoicing Market?

The United States e-invoicing market size reached US$ 3,356.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 14,412.2 Million by 2032, exhibiting a growth rate (CAGR) of 17.58% during 2024-2032.

What is E-Invoicing?

E-invoicing is a digital method of creating, sending, receiving, and processing invoices between businesses and their clients or suppliers. It comes with built-in compliance features, ensuring that invoices meet legal and regulatory requirements while facilitating easier reporting and auditing processes. It is highly cost-effective as compared to traditional paper invoices that involve expenses related to printing, postage, and manual processing. It replaces the traditional paper-based invoicing system with a more efficient and environment friendly electronic alternative. It reduces the chances of errors commonly associated with manual data entry, as automated systems ensure that invoice details are accurate, reducing the risk of disputes and payment delays. It can be delivered instantly, which leads to quicker payments and improved cash flow for businesses. It offers robust security measures to protect sensitive financial data while reducing the risk of fraud or unauthorized access to invoice information. It contributes to environmental sustainability by reducing paper usage and the associated carbon footprint. It also aligns with corporate social responsibility goals and demonstrates a commitment to eco-friendly practices. It integrates seamlessly with accounting and enterprise resource planning (ERP) systems, which streamlines the entire invoicing process, ranging from creation to payment, saving time and resources. It enables businesses to send and receive invoices around the world, overcoming geographical barriers. As it generates valuable data and insights that can be used for financial analysis and decision-making, the demand for e-invoicing is rising in the United States.

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United States E-Invoicing Market Trends and Drivers:

At present, governing agencies in the United States are encouraging the adoption of e-invoicing to modernize public procurement processes. There is a rise in the demand for e-invoicing, as businesses supplying government entities must comply with e-invoicing requirements. Besides this, companies are seeking ways to reduce operational costs. E-invoicing offers a cost-effective alternative to traditional paper-based invoicing, as companies can save on paper, printing, postage, and manual processing, leading to substantial cost reductions. In addition, the growing demand for e-invoicing, as it streamlines the invoicing process, making it faster and more efficient, is offering a favorable market outlook in the United States. E-invoicing also accelerates payment cycles, improving cash flow for businesses. Apart from this, manual data entry errors are common in traditional invoicing methods. E-invoicing solutions automate the process, reducing these errors. This enhanced accuracy helps businesses avoid disputes and payment delays, which is contributing to the growth of the market in the country. Moreover, the increasing number of organizations engaged in international trade is propelling the demand for e-invoicing in the United States, as it facilitates global transactions by providing a standardized and efficient invoicing method that can be easily adopted by international partners. In line with this, regulatory bodies in the United States are increasingly recognizing the benefits of e-invoicing. Regulatory compliance requirements are driving businesses to adopt e-invoicing solutions to ensure that their invoicing processes meet legal standards.

The report segmented the market on the basis of channel, deployment type and application.

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:

• Northeast
• Midwest
• South
• West

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024- 2032)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.