About e-Invoicing
e-Invoicing deals with the online transactions between the organisations and their clients. This process of exchange of bills and invoice documents is done in online integrated format. E-invoicing is executed through the software or the Internet. Due to online process, speed of the transactions is increased. Moreover, this transactions can be done via mobile, tablet or PC, provides the easy accessibility and make it more time convenient. Mobile commerce with the help of E-invoicing application, simplifies banking, commercial transactions, and bill payments through mobile applications. E-billing helps in storage of all e-invoices which can be assessed when required. Now-a-days, e-invoicing uses Block-chain technology that helps to maintain the information of the clients more securely.
Attributes | Details |
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Study Period | 2019-2029 |
Base Year | 2023 |
Unit | Value (USD Million) |
Technological up-gradations in product, mergers & acquisitions with big companies, making partnership and agreement with the suppliers and fixed customers these strategies are being adopted by market players so as they can achieve high market share and gain good position in key players of market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global e-Invoicing market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Basware (Finland), Cegedim (France), Comrach (Poland), IBM (United States), Freshbooks (Canada), Xero (New Zealand), Tipali (United States), Zoho (India), Intacct (United States) and Intuit (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are FinancialForce Accounting (united States), Wave financials (Canada) and CheckIssuing (United States).
Segmentation Overview
AMA Research has segmented the market of Global e-Invoicing market by Type (E-invoicing with compliance and E-invoicing without compliance), Application (Banking sector, Telecommunications sector, e-commerce sector and Others) and Region.
On the basis of Type, E-invoicing with compliance are dominating the market in the year 2023 where as E-invoicing without compliance stood as second largest market share.
On the basis of application, Banking sector segment is dominating the market in the year 2023 where as e-commerce sector segment stood as second largest market .On the basis of geography, the market of e-Invoicing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2023. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Deployment, the sub-segment i.e. On-premise will boost the e-Invoicing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Use of block chain algorithm to increased security of documents and Emerging technologies in digital banking sector
Market Growth Drivers:
Growing attraction for easy accessible mobile payments, Human interaction is reduced and time flexibility is increased and Increasing applicability in various sectors like banking, commercial transactions, and bill payments
Challenges:
Developing and implementing common standards and regulations for e-invoicing
Restraints:
Less awareness in emerging countries and Security and data privacy issues
Opportunities:
Growing automation in business processes, Favorable government regulations for increasing digitization and Increases visibility and helps for global transactions
Market Leaders and their expansionary development strategies
In October 2023, Trade Tech and Mastercard join forces to create a global e-Invoicing network for small businesses. This partnership simplifies cross-border trade and reduces financial barriers for smaller companies.
In December 2023, SAP launches SAP Business Network Cloud a comprehensive platform for e-Invoicing, e-Orders, and other supply chain transactions. This platform offers an integrated solution for businesses to manage their entire financial workflow.
Key Target Audience
Manufacturer, Sub-component manufactures, Channel partners, Industry Association, Downstream Vendors, Governments and investment communities and Research organizations and associations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.