Global Electronic-Invoicing (E-Invoicing) Market, By Type (Cloud And On-Premise), End User (Business-To-Business, Business-To-Consumer, And Others), Application (Energy And Utilities, Fast-Moving Consumer Goods , E-Commerce, Banking, Financial Services and Insurance, Government and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Electronic-invoicing (e-invoicing) Market
Data Bridge Market Research analyses that the electronic-invoicing (e-invoicing) market will exhibit a CAGR of 25.40% for the forecast period of 2022-2029 and is expected to reach the market value of USD 6,014.71 million by 2029.
Electronic invoicing, or e-invoicing, refers to the generation of electronic bills through a digital platform for an exchange of products and services. It can be generated through numerous devices, such as mobile phones, laptops, and tablets, and includes purchase orders, debit and credit notes, and payment vouchers that specify the terms and conditions of the payment. E-invoicing may also be deployed through the cloud and on-premises solutions that supply numerous different edges, such as improved invoice accuracy and knowledge quality, reduced instances of delayed payments, and quicker invoice-processing time and transparency. Except this, it aids in convenient pursuit of business transactions and minimizing the prices related to system style, customization, implementation, training, and maintenance.
Significant growth in the e-commerce industry and increasing personal disposable income are some of the major factors accelerating the growth of the electronic-invoicing (e-invoicing) market in the forecast period of 2022-2029. Furthermore, widespread adoption of advanced information technology (IT) solutions across the banking, financial services and insurance (BFSI), energy, telecommunications and retail industries is propelling the market growth. Various technological advancements, such as the development of web and software-based invoicing applications that can be integrated with the cloud, artificial intelligence (AI), internet of things (IoT) and predictive analytics tools, and product vendors offering flexible e-invoicing solutions to support the frequently changing operational patterns are also expected to drive the growth of the electronic-invoicing (e-invoicing) market in the forecast period of 2022-2029. However, the need of substantial amount of resources in terms of manpower restrains the growth of electronic-invoicing (e-invoicing) market. Also, requirement of time and equipment will challenge market growth in the above mentioned forecast period.
In addition, increasing adoption of blockchain technology to ensure the security of documents, along with the emerging trend of document digitalization for efficient processing and compliance requirements will create ample opportunities for the electronic-invoicing (e-invoicing) market in the above mentioned forecast period.
This electronic-invoicing (e-invoicing) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on electronic-invoicing (e-invoicing) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Electronic-invoicing (e-invoicing) Market Scope and Market Size
The electronic-invoicing (e-invoicing) market is segmented on the basis of type, end user and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
On the basis of type, the electronic-invoicing (e-invoicing) market is segmented into cloud and on premise.
On the basis of end user, the electronic-invoicing (e-invoicing) market is segmented into business-to-business, business-to-consumer, and others.
On the basis of application, the electronic-invoicing (e-invoicing) market is segmented into energy and utilities, fast-moving consumer goods, e-commerce, banking, financial services and insurance, government, others.
Electronic-invoicing (e-invoicing) Market Country Level Analysis
The electronic-invoicing (e-invoicing) market is analysed and market size, volume information is provided by country, type, end user and application as referenced above.
The countries covered in the electronic-invoicing (e-invoicing) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the electronic-invoicing (e-invoicing) market and will continue to flourish its trend of dominance during the forecast period due to the various technological advancements, such as the development of web and software-based invoicing applications that can be integrated with the cloud in this region. Asia-Pacific will however, register the highest compound annual growth rate for this period due to the emerging trend of document digitalization for efficient processing and compliance requirements in this region.
The country section of the electronic-invoicing (e-invoicing) market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electronic-invoicing (e-invoicing) Market Share Analysis
The electronic-invoicing (e-invoicing) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points are only related to the companies’ focus on the electronic-invoicing (e-invoicing) market.
Some of the major players operating in the electronic-invoicing (e-invoicing) market are Cognizant, Dell Inc., Microsoft, Adobe, Marlabs Inc., Accenture, Capgemini, IBM, KELLTON TECH, Oracle, Google LLC, Hewlett Packard Enterprise Development LP, Apple Inc., Broadcom, PwC, Equinix, Inc., Deloitte, Cognex Corporation, SAP SE, and Siemens among others.
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