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Emerging Trends to Reshape the Electronic Bill Presentment And Payment Market: Centralized Dashboard Enables Real-Time Invoice Tracking And Management as a Key Influencer
Electronic Bill Presentment And Payment Market
Electronic Bill Presentment And Payment Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size of electronic bill presentment and payment has seen substantial growth. The market, which is expected to rocket from $26.59 billion in 2024 to $30.10 billion in 2025, will be experiencing a compound annual growth rate of 13.2%. This growth from the past can be linked to the surge in digital financial services, greater use of online banking, an upward trend in demand for paperless transactions, escalating emphasis on lowering costs in billing procedures, and a continued increase in the use of the internet and smartphones.
Electronic Bill Presentment And Payment Market Size Forecast: What's the Projected Valuation by 2029?
The projected trajectory for the electronic bill presentment and payment market indicates a swift expansion in the coming years, escalating to a worth of $48.85 billion by 2029 with a 12.9% compound annual growth rate (CAGR). This growth during the forecast years is likely due to the rise in mobile payment applications usage, an increased demand for instant payment tracking, an augmented focus on digital payment cybersecurity, and higher adoption of cloud-based solutions. Key upcoming trends in prediction period encompass improvements in mobile-dominant payment platforms, the incorporation of artificial intelligence (AI) and machine learning into billing, innovative measures in real-time payment settlement, the creation of secure cloud-based systems for electronic bill presentment and payment, and progress in subscription and recurring billing management systems.
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What Are the Drivers Transforming the Electronic Bill Presentment And Payment Market?
The market's growth is being fueled by the rising embrace of digital payment solutions due to improved accessibility and convenience.
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What Are the Key Trends Driving Electronic Bill Presentment And Payment Market Growth?
Leading firms in the electronic bill presentment and payment sphere are prioritizing the creation of breakthrough solutions like cloud-based electronic invoice presentment and payment software to bolster effectiveness, lower expenses, and enhance customer experiences. Such cloud-based platforms, hosted on the internet, equip businesses with the capability to create, distribute, and manage invoices electronically. They also offer secure and efficient online payment options for customers. Take for example, in October 2022, Quadient SA, a company based in France that specializes in business process and communication automation, rolled out Impress Invoice. Intended for small to medium-sized businesses, this cloud-based electronic invoice presentment and payment solution fully automates invoice processing from creation to multi-channel distribution to payment. Impress Invoice optimizes operations by reducing manual labor, cutting costs, speeding up cash flow with quicker payment cycles, reducing errors through automation, and maintaining compliance with e-invoicing regulations. A centralized dashboard for real-time tracking of invoice delivery, disputes, and payments enhances customer satisfaction while enabling staff to concentrate on tasks of higher value.
Which Segments in the Electronic Bill Presentment And Payment Market Offer the Most Profit Potential?
The electronic bill presentment and payment market covered in this report is segmented
1) By Component: Software, Services
2) By Product: Electronic Bill Presentment, Electronic Bill Payment, Electronic Bill Posting
3) By Deployment Mode: On-Premises, Cloud-Based
4) By Payment Methods: Credit Or Debit Cards, Direct Bank Transfers, Electronic-Wallets, Mobile Payments, Cryptocurrencies
5) By End Use Industries: Banking, Financial Services And Insurance (BFSI), Healthcare, Information Technology (IT) And Telecom, Retail And E-Commerce, Education, Media And Entertainment, Manufacturing, Government And Public Sector, Other End Use Industries
Subsegments:
1) By Software: On-Premise Software, Cloud-Based Software, Mobile Applications
2) By Services: Professional Services, Managed Services, Support And Maintenance Services
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Which Firms Dominate the Electronic Bill Presentment And Payment Market by Market Share and Revenue in 2025?
Major companies operating in the electronic bill presentment and payment market are Oracle Corporation, SAP SE, PayPal Holdings Inc., Mastercard Incorporated, Fiserv Inc., Fidelity National Information Services Inc., Broadridge Financial Solutions Inc., Jack Henry & Associates Inc., BTRS Holdings Inc., Temenos AG, CyberSource Corporation, Paymentus Holdings Inc., Bottomline Technologies Inc., Striata, Pagero AB, ACI Worldwide Inc., Enterprise jBilling Software Ltd., Jopari Solutions Inc., MaxBill s.r.o., AMCS Group, MuniBilling.
Which Regions Offer the Highest Growth Potential in the Electronic Bill Presentment And Payment Market?
North America was the largest region in the electronic bill presentment and payment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in electronic bill presentment and payment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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