E-Invoicing Market Size, Share, And Growth Report 2032

E-Invoicing Market: Size

The global E-Invoicing market size was worth around USD 26.83 billion in 2023 and is predicted to grow to around USD 228.96 billion by 2032 with a compound annual growth rate (CAGR) of roughly 26.9% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the E-Invoicing market on a global and regional level.

Request Free Sample

E-Invoicing Market: Overview

Electronic invoicing (e-Invoicing) is the trade of invoices between suppliers and buyers in an integrated electronic format. In simple words, e-invoicing is a form of electronic billing. E-invoices include debit notes, purchase orders, credit notes, remittance slips, and payment terms and instructions. These invoices include entry options alongside different types of technologies and are used as an umbrella term to define any payment method presented to a customer. Moreover, it is simpler to attain a high degree of automation with authentic e-invoices rather than with PDF invoices. It offers several benefits to organizations, such as streamlining of accounting processes, offering higher receivables, reducing paper consumption, faster customer payments, timely delivery of invoices, increasing visibility and control over various processes, and lowered number of lost invoices. Enterprises are majorly using e-invoicing solutions to automate and simplify their processes of creating, sending, and receiving invoices.

The rising adoption of cloud-based services is the major factor driving the growth of the global e-invoicing market. Cloud computing plays a major role in solving inefficiency issues in organizations and boosting sustainable business growth. Moreover, redundant procedural, administrative, software, and hardware costs of organizations are also avoided by using cloud computing. The Internet has permitted the formation of web forms and web invoicing so that the electronic invoice data can be entered online. This has led to the wider adoption of e-invoicing. Furthermore, increasing government initiatives for e-invoicing is further anticipated to strengthen the global e-invoicing market growth over the forecast time period. However, data security concerns for uploading invoices in a secured server may hinder the global e-invoicing market in the upcoming years.

Request Free Sample

The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and the product portfolio of various companies according to the region.

E-Invoicing Market: Segmentation

The study provides a decisive view of the e-invoicing market based on type, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By type, the global e-invoicing market is segmented into cloud-based and on-premises.

Based on end-user, the market is categorized into energy, FMCG, finance, e-commerce, express services, and others.

E-Invoicing Market: Report Scope

E-Invoicing Market: Regional Analysis

The regional segmentation includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

By region, Asia Pacific is predicted to be one of the fastest growing markets of e-invoicing within the forecast period, owing to the growing penetration of advancing technology support and rising automation trends, especially in emerging countries like China and India. Europe was the second largest market for e-invoicing in 2023, due to huge technology support by the government and growing automation trends.

E-Invoicing Market: Competitive Players

Some major players operating in the global e-invoicing market are:

• FreshBooks
• Zoho Corporation Pvt. Ltd.
• Xero
• Intuit
• Brightpearl
• Sage Group
• FinancialForce
• Tipalti Solutions Ltd.
• PaySimple
• Acclivity Group LLC
• KashFlow Software
• Araize Inc.
• Mercury Systems Inc.
• Norming Software
• YAT Software
• SAP
• Ipayables
• Coupa Software Inc.
• Zervant

The Global E-Invoicing Market is segmented as follows:

Global E-Invoicing Market: Type Analysis

• Cloud-Based
• On-Premises

Global E-Invoicing Market: End-User Analysis

• Energy
• FMCG
• Finance
• E-Commerce
• Express Services
• Others 

Global E-Invoicing Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa