Revolutionizing Finance, The Digital Wave of E-Invoicing Unleashes Global Growth Opportunities
SNS Insider, a leading research firm, reveals that the global E-Invoicing Market is set to surpass USD 46.68 billion by 2030, marking a significant increase from its valuation of USD 10.92 billion in 2022. The market is expected to grow at a remarkable CAGR of 19.91% during the forecast period of 2023-2030.
Market Overview:
E-invoicing, or electronic invoicing, is revolutionizing the way businesses create, send, receive, and process invoices. This digital method eliminates the reliance on traditional paper-based processes, leveraging electronic formats and automated systems for seamless invoicing. Businesses across various sectors, including BFSI, energy, telecommunications, and retail, are embracing this transformation to enhance efficiency and reduce costs.
Both on-premises and cloud-based e-invoicing systems are available, and both offer a number of extra benefits such as improved invoice accuracy and data quality, fewer instances of payment delays, and faster, more transparent invoice processing.
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Major Key Players Included in the Report are:
- Basware Corporation
- Cegedim SA
- Comarch SA
- Coupa Software Inc
- IBM Corporation
- Nipendo Ltd
- SAP SE
- The Sage Group plc
- Tradeshift
- Transcepta LLC
- Others
Market Analysis:
The global shift toward digitalization and automation is propelling the E-Invoicing Market forward. As businesses aim to streamline operations, electronic invoicing provides a faster, more accurate, and cost-effective alternative to traditional methods. Regulatory initiatives worldwide, aimed at curbing tax evasion and improving financial transparency, act as catalysts for market growth. The focus on sustainability further fuels adoption, with businesses recognizing the environmental impact of paper-based processes.
Segmentation Analysis:
By Channel: B2C transactions benefit from e-invoicing’s efficiency, allowing customers to receive invoices via email or online portals, aligning with their digital expectations.
By Application: E-commerce transactions benefit from the automation capabilities of e-invoicing, facilitating swift generation, delivery, and processing of invoices on a large scale.
Market Segmentation and Sub-Segmentation Included Are:
On The Basis of Channel
- B2B
- B2C
- Others
On The Basis of Deployment Type
- Cloud-based
- On-premises
On The Basis of Application
- Energy and Utilities
- FMCG
- E-Commerce
- BFSI
- Government
- Others
Key Regional Developments:
Latin America: Anticipated to witness maximum growth, driven by higher acceptance and penetration of fiscal document exchange in e-format, particularly in Chile and Brazil.
North America: Poised for strong growth due to an increasing volume of E-invoices and greater acceptance for electronic transactions between trading partners.
Key Takeaway:
European governments’ proactive promotion of e-invoicing through regulatory mandates and standardization efforts positions the region as a key player in the global market. Asia Pacific is also expected to experience robust growth, particularly in China, driven by the increased deployment of cloud platforms in billing activities.
Recent Developments:
- The Sage Group: Introduces AI-powered capabilities to automate invoice creation, approval workflows, and payment processing, enhancing real-time analytics and reporting.
- SAP Ariba: Enhances e-invoicing and procurement solutions to improve supplier collaboration, optimize procurement processes, and enhance end-to-end supply chain visibility.
- As the E-Invoicing Market continues its upward trajectory, businesses globally are urged to embrace digital transformation for more efficient and sustainable financial processes.
Table of Contents – Major Key Points
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- COVID-19 Impact Analysis
- Impact of Ukraine- Russia war
- Impact of ongoing Recession on Major Economies
- Value Chain Analysis
- Porter’s 5 Forces Model
- PEST Analysis
- E-Invoicing Market Segmentation, by Channel
- E-Invoicing Market Segmentation, by Deployment Type
- E-Invoicing Market Segmentation, by Application
- Regional Analysis
- Company Profiles
- Competitive Landscape
- Conclusion