According to IMARC Group’s latest report, titled “E-Invoicing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global e-invoicing market to exhibit strong growth during the next five years.
Electronic invoicing, or e-invoicing, refers to the generation of electronic bills through a digital platform. It primarily involves purchase orders, debit and credit notes, and remittance vouchers, which can be directed through several smart devices, such as smartphones, tablets and laptops. E-invoicing can also be deployed using cloud and on-premises solutions for better accuracy, reduced delays in payments, faster invoice-processing time and transparency. It aids in tracking business transactions and minimizing overhead costs pertaining to system designing, customization, training, implementation, and maintenance.
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The thriving e-commerce sector, along with the widespread adoption of advanced information technology (IT) solutions across various industries, is primarily driving the market for e-invoicing. Furthermore, several key players are offering flexible e-invoicing solutions in accordance with the frequently changing operational patterns, thereby augmenting the market growth. Apart from this, the emergence of the web- and software-based invoicing solutions that can be integrated with the cloud, Internet of Things (IoT), artificial intelligence (AI) and predictive analytics tools is further bolstering the global market. Additionally, the advent of blockchain technology that provides document digitalization for efficient processing and compliance requirements is expected to propel the market for e-invoicing in the coming years.
E-Invoicing Market 2021-2026 Analysis and Segmentation:
Breakup by Channel:
Breakup by Deployment Type:
Breakup by Application:
- Energy and Utilities
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Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being 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) and The Sage Group Plc.
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