E-Invoicing Market Expected to Achieve 23.2% CAGR by 2029: Growth Forecast Insights

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How Large Will the E-Invoicing Market Size By 2025?
The market size of E-invoicing has experienced significant growth in the past few years. It is projected to increase from $19.64 billion in 2024 to $24.28 billion in 2025, with a compound annual growth rate (CAGR) of 23.6%. The growth during the historic period is the result of factors like mandatory regulations, cost reduction measures, technological progress, environmental sustainability, and the trend towards globalization.

How Big Is the E-Invoicing Market Size Expected to Grow by 2029?
The E-invoicing market's size is anticipated to witness significant expansion in the upcoming years, expounding to $55.99 billion by 2029 at a CAGR of 23.2%. Factors such as the growing usage of cloud solutions, a focus on data security and compliance, spreading digital transformation efforts, an increasing need for automatic invoice processing, and a rapid move towards paperless workflows spur the growth during the prediction period. Key trends during these years include the integration of blockchain, AI-infused invoice analytics, mobile invoicing solutions, compatibility standards, and the rise of invoice financing platforms.

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Which Key Market Drivers Powering E-Invoicing Market Expansion and Growth?
The surge in digital transformation uptake is anticipated to bolster the E-invoicing market's expansion. The term "digital transformation" pertains to the purposeful incorporation of digital innovation fundamentally to alter business operations, consumer relationships, and company culture to satisfy the changing demands of the market. Businesses increasingly adopt digital transformation to remain competitive, heighten operational efficiency, enrich customer experiences, and adjust to rapidly developing tech environments. Through automation of manual tasks, the precision enhancement coupled with the acceleration of invoice processing and the upsurge in effectiveness and cost savings, digital transformation augments E-invoicing. As an illustration, a research authored by the Luxembourg-based government agency, Eurostat, revealed that 70% of businesses across the EU secured a fundamental level of digital competence in 2022, the disclosure having been made in September 2023. The EU intends to confirm that by 2030, no less than 80% of adults are equipped with rudimentary digital abilities. Consequently, the widening embrace of digital transformation acts as a catalyst for the E-invoicing market's growth.

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Which Fast-Growing Trends Are Poised to Disrupt the E-Invoicing Market?
Leading firms in the E-invoicing market are increasing their concentration on the development of sophisticated E-invoicing solutions, like ONESOURCE E-invoicing, in an effort to enhance their market revenue. ONESOURCE E-invoicing, a software solution, is purposely built to simplify the management of electronic invoices and to ensure conformity with global E-invoicing guidelines. For example, Thomson Reuters Corporation, a Canada-based media firm, introduced ONESOURCE E-invoicing for international corporations in October 2023. The software offers customers an integrated suite that connects various financial systems, including prevailing enterprise resource planning (ERP) systems. Its technology automates the entire compliance procedure, unifying and standardizing the compliance workflow to guarantee accurate, punctual digital submissions. This unified platform takes advantage of technology to simplify the administration of electronic invoicing for international businesses, offering a single portal for managing E-invoicing compliance. It helps lower expenses, simplifies data management, and saves time by enabling automated E-invoice validation and data enrichment.

What Are the Emerging Segments in the E-Invoicing Market?
The E-invoicing market covered in this report is segmented -

1) By Type: Integrated E-Invoicing Solutions, Standalone E-Invoicing Solutions
2) By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
3) By Application: Energy, Fast-Moving Consumer Goods (FMCG), Express Services, Finance, E-Commerce, Other Applications
4) By End-User: Large Enterprises, Small And Medium-Sized Enterprises

Subsegments:
1) By Integrated E-Invoicing Solutions: Enterprise Resource Planning (Erp) Integrated E-Invoicing, Accounting Software Integrated E-Invoicing, Supply Chain Management (SCM) Integrated E-Invoicing, Customer Relationship Management (Crm) Integrated E-Invoicing, Integrated Payment Processing Solutions, Automated Tax Compliance Integrated E-Invoicing, Integrated E-Invoicing With Banking Systems
2) By Standalone E-Invoicing Solutions: Cloud-Based Standalone E-Invoicing Software, On-Premises Standalone E-Invoicing Software, E-Invoicing Solutions For Small And Medium Enterprises (Smes), Mobile E-Invoicing Solutions, E-Invoicing Solutions For B2B Transactions, E-Invoicing Solutions For B2C Transactions, Electronic Bill Presentment And Payment (EBPP) Solutions

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Who Are the Global Leaders in the E-Invoicing Market?
Major companies operating in the E-invoicing market are Oracle Corporation, Fiserv Inc., FIS Global Solutions Holdings LLC, Thomson Reuters Corporation, Deluxe Corporation, GEP Solutions Pvt. Ltd., SAP Ariba Inc., Coupa Software Incorporated, Bill Holdings Inc., Bottomline Technologie Inc., Basware Corporation, AvidXchange Inc., Zycus Inc., Jaggaer Inc., Tipalti Inc., Ivalua Inc., Esker Inc., Corcentric LLC, Tradeshift Holdings Inc., Taulia Inc., MineralTree Inc., Plooto Inc., Transcepta LLC, Certify Inc., Yooz Inc.

Which are the Top Profitable Regional Markets for the E-Invoicing Industry?
North America was the largest region in the E-invoicing market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the E-invoicing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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