E-Invoicing Market Size Worth US$ 60.9 Billion by 2032 | IMARC Group

IMARC Group's report 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". The global e-invoicing 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.

Factors Affecting the Growth of the E-Invoicing Industry:

• Growing Focus on Data Security and Privacy:
The growing number of online transactions is increasing the focus on data security and privacy, making it a critical consideration for e-invoicing platforms. In addition, businesses are transitioning toward electronic invoicing to safeguard sensitive financial and personal data, contributing to market growth. Moreover, advanced security features are integrated into e-invoicing solutions to address these concerns, including improved encryption protocols that secure data transmission, ensuring that invoice information remains confidential and tamper-proof, representing another major growth-inducing factor. Besides this, multi-factor authentication adds a layer of security, verifying the identity of users and mitigating unauthorized access risks.

• Expansion of E-invoicing Networks:
E-invoicing networks are experiencing rapid global expansion, facilitating seamless connections between buyers and suppliers across international frontiers. These networks are transforming the way businesses transact, enabling the electronic exchange of invoices, streamlining payment processes, and enhancing the efficiency of B2B interactions. Moreover, companies can enjoy interoperability, allowing them to connect with a broader network of trading partners without the need for multiple, disparate systems by joining an e-invoicing network, which represents another major growth-inducing factor. These networks support real-time invoice processing, which accelerates the billing cycle, improves cash flow management, and enhances overall business efficiency.

• Rising Demand for Mobile E-invoicing:
The widespread adoption of mobile devices is escalating the demand for mobile e-invoicing solutions. These solutions cater to the growing need for convenience and flexibility in managing financial transactions, enabling users to create, send, and manage invoices anytime, anywhere. Moreover, mobile invoicing apps are designed to offer a user-friendly interface, quick access to invoicing functions, and the ability to instantly respond to clients, fostering timely payments and efficient workflow. The ability to generate and send invoices directly from a smartphone or tablet can significantly enhance operational efficiency, particularly for freelancers, small business owners, and professionals who are often on the move. As the business becomes mobile, the demand for such flexible invoicing solutions is expected to propel the market growth.

Leading Companies Operating in the Global E-Invoicing Industry:
• 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

𝐅𝐨𝐫 𝐚𝐧 𝐢𝐧-𝐝𝐞𝐩𝐭𝐡 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐫𝐞𝐟𝐞𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/e-invoicing-market/requestsample

E-Invoicing Market Report Segmentation:

By Channel:
• B2B
• B2C
• Others
B2C represents the largest segment due to the widespread adoption of electronic invoicing by businesses catering directly to consumers, facilitated by its efficiency and convenience.

By Deployment Type:
• Cloud-based
• On-premises
Cloud-based deployment accounts for the largest market share due to its scalability, cost-effectiveness, and ease of implementation, driving its preference among businesses for managing invoicing processes.

By Application:
• Energy and Utilities
• FMCG
• E-Commerce
• BFSI
• Government
• Others
E-commerce dominates the market owing to the significant volume of transactions conducted online, requiring efficient invoicing systems.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂:https://www.imarcgroup.com/e-invoicing-market

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

Global E-Invoicing Market Trends:
At present, businesses are transitioning to cloud-based e-invoicing solutions due to their scalability, accessibility, and cost-effectiveness. Cloud-based platforms offer flexibility and ease of implementation, making them attractive to organizations of all sizes. Moreover, governments are implementing regulations to promote e-invoicing adoption and combat tax evasion. Along with this, compliance with various regulations, such as the European Union's VAT Directive and the U.S. Electronic Invoicing mandate, is driving businesses to adopt e-invoicing solutions that ensure regulatory compliance. Moreover, the integration of e-invoicing solutions with enterprise resource planning (ERP) systems is important for seamless financial operations which allows for real-time data synchronization, enhances process efficiency, and reduces manual errors.

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.

𝐎𝐭𝐡𝐞𝐫 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐏𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐈𝐌𝐀𝐑𝐂 𝐆𝐫𝐨𝐮𝐩 :
• https://www.imarcgroup.com/global-aroma-chemicals-market
• https://www.imarcgroup.com/dropshipping-market
• https://www.imarcgroup.com/silicones-market
• https://www.imarcgroup.com/acne-drugs-market
• https://www.imarcgroup.com/hemostats-market
• https://www.imarcgroup.com/commercial-drones-market
• https://www.imarcgroup.com/foreign-exchange-market
• https://www.imarcgroup.com/business-jet-market
• https://www.imarcgroup.com/flexible-packaging-market
• https://www.imarcgroup.com/protective-relay-market

Contact Us:

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 |United Kingdom: +44-753-713-2163

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

This release was published on openPR.