Global Electronic-invoicing (e-invoicing) Market, By Type (Non-PO Invoices, and PO Invoices), Deployment (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) – Industry Trends and Forecast to 2031.
Electronic-invoicing (e-invoicing) Market Analysis and Size
Streamlining invoice processing through electronic invoicing (e-invoicing) involves automating the entire invoicing lifecycle. This includes generating, sending, receiving, and processing invoices digitally, without the need for manual intervention or paper documents. In practice, it integrates with existing financial systems such as ERP (Enterprise Resource Planning) platforms to automate data entry, validation, and approval workflows. Eliminating paper-based processes, businesses can reduce errors, accelerate invoice approval times, and optimize cash flow management.
The global electronic-invoicing (e-invoicing) market was valued at USD 4.79 billion in 2023 and is projected to reach USD 29.29 billion by 2031, with a CAGR of 25.40% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Non-PO Invoices, and PO Invoices), Deployment (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)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America
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Market Players Covered
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Cognizant (U.S.), Dell Inc. (U.S.), Microsoft (U.S.), Adobe (U.S.), Marlabs Inc. (U.S.), Accenture (Ireland), Capgemini (France), IBM (U.S.), KELLTON TECH (India), Oracle (U.S.), Google LLC (U.S.), Hewlett Packard Enterprise Development LP (U.S.), Apple Inc. (U.S.), Broadcom (U.S.), Equinix, Inc. (U.S.), Deloitte (U.K.), Cognex Corporation (U.S.), SAP SE (Germany)
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Market Opportunities
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Market Definition
Electronic invoicing (e-invoicing) refers to the digital exchange of invoice documents between suppliers and buyers. It eliminates the need for paper-based invoices by automating the invoicing process through electronic formats such as XML or PDF. E-invoicing improves efficiency, reduces errors, speeds up payment cycles, and enhances transparency in financial transactions between businesses.
Electronic-invoicing (e-invoicing) Market Dynamics
Drivers
- Widespread Adoption of Advanced Information Technology
Advanced IT infrastructures, including cloud computing, AI-driven automation, and secure digital platforms, enable seamless implementation and integration of e-invoicing solutions. These technologies facilitate real-time data exchange, enhance scalability, and support complex invoicing processes across global supply chains. Moreover, they improve data security, ensuring confidentiality and integrity throughout the invoicing lifecycle. Businesses leveraging advanced IT can achieve greater operational efficiencies, reduce costs associated with manual processes, and enhance compliance with regulatory requirements, thus accelerating the adoption and growth of the e-invoicing market globally.
- Increasing Personal Disposable Income
As disposable incomes rise, consumer spending and business transactions increase, leading to a greater volume of invoices generated and processed. Businesses, especially in consumer-facing industries, are such asly to adopt e-invoicing to manage higher transaction volumes efficiently. Moreover, individuals and businesses with higher disposable incomes may prioritize convenience and efficiency in financial transactions, making e-invoicing an attractive option for both sending and receiving invoices. This trend fosters market growth as companies seek to capitalize on the demand for streamlined, digital invoicing solutions that cater to a more financially empowered customer base.
Opportunities
- Growing Environmental Sustainability Concerns
Paper production contributes to deforestation, water consumption, and carbon emissions. E-invoicing eliminates the need for paper invoices, thereby conserving natural resources and reducing waste. Businesses that prioritize sustainability are increasingly turning to e-invoicing as part of their corporate responsibility efforts. Moreover, governments and regulatory bodies are promoting e-invoicing as a means to achieve environmental goals by encouraging digital document exchange over traditional paper-based methods. This alignment with sustainability objectives enhances the attractiveness of e-invoicing solutions in the market.
- Integration with Digital Transformation
As businesses undergo digital transformation initiatives, they seek to streamline operations, enhance efficiency, and improve data accuracy across all processes, including invoicing. E-invoicing plays a crucial role by automating invoicing workflows, integrating seamlessly with ERP and accounting systems, and enabling real-time data exchange. This integration not only reduces manual errors and processing times but also enhances overall financial visibility and compliance. Moreover, digital transformation fosters a culture of innovation and agility, allowing businesses to adapt quickly to changing market dynamics and regulatory requirements, thereby fueling the adoption of e-invoicing solutions.
Restraints/Challenges
- High Initial Investment
High initial investment typically includes costs for implementing new software systems, upgrading existing IT infrastructure to support digital invoicing processes, and providing training for employees. For smaller businesses and startups with limited financial resources, these upfront costs may be prohibitive, delaying or preventing their transition to e-invoicing solutions. Additionally, ongoing maintenance and support costs further add to the financial burden. The perceived risk versus return on investment can also deter organizations from committing to e-invoicing, especially if they are uncertain about the immediate benefits or face competing priorities for capital expenditure.
- Regulatory Complexity
Governments impose specific mandates regarding e-invoicing formats, data retention periods, digital signatures, and tax reporting, which can be challenging for businesses to navigate and comply with consistently. Adapting to these regulations often requires continuous monitoring, updates to systems and processes, and sometimes necessitates additional resources for legal and regulatory expertise.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized 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, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Electronic-invoicing (e-invoicing) Market Scope
The market is segmented on the basis of type, deployment, end user and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Non-PO Invoices
- PO Invoices
Deployment
- Cloud
- On-Premise
End User
- Business-To-Business
- Business-To-Consumer
- Others
Application
- Energy and Utilities
- Fast-Moving Consumer Goods
- E-Commerce
- Banking
- Financial Services and Insurance
- Government
- Others
Electronic-invoicing (e-invoicing) Market Region Analysis/Insights
The 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 market report are U.S., Canada, Mexico, 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), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America.
North America dominates the market due to advancements in technology. The region benefits from robust development in web and software-based invoicing applications, which seamlessly integrate with cloud platforms. This integration enhances efficiency and accessibility, catering to the growing demand for streamlined financial processes among businesses. As these technologies continue to evolve, North America is expected to maintain its leadership in e-invoicing adoption and innovation throughout the forecast period.
Asia-Pacific is expected to have a significant growth in the market due to the need for efficient processing and compliance adherence. Businesses and organizations are increasingly adopting digital solutions to streamline operations and meet regulatory requirements. This shift is contributing to a higher compound annual growth rate (CAGR) compared to other regions, as companies seek to enhance productivity, reduce costs associated with manual processes, and improve overall operational efficiency through digital document management systems. As a result, the Asia-Pacific market is poised for substantial growth in document digitalization over the forecast period.
The country section of the global sales force automation software 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 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 provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- Cognizant (U.S.)
- Dell Inc. (U.S.)
- Microsoft (U.S.)
- Adobe (U.S.)
- Marlabs Inc. (U.S.)
- Accenture (Ireland)
- Capgemini (France)
- IBM (U.S.)
- KELLTON TECH (India)
- Oracle (U.S.)
- Google LLC (U.S.)
- Hewlett Packard Enterprise Development LP (U.S.)
- Apple Inc. (U.S.)
- Broadcom (U.S.)
- Equinix, Inc. (U.S.)
- Deloitte (U.K.)
- Cognex Corporation (U.S.)
- SAP SE (Germany)
- Siemens (Germany)
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