The E-invoicing Market was valued at US$ 4.84 billion in 2019 and is projected to reach US$ 15.5 billion by 2027. The E-invoicing market is expected to grow at a CAGR of 16.2% during the forecast period of 2020 to 2027.

E-invoicing is a growing market with rising adoption in various segments such as business to business, business to customer, and business to government among others. E-invoicing exclusively refers to the electronic invoice exchange between buyers and suppliers. Various countries define e-invoicing differently based on the regulations and nature of businesses prevalent in specific countries. For the scope of this study, electronic invoices are defined as formal invoices with more than seven mandatory fields with supplier and buyer authentication. For the exchange of e-invoices, there are various models that are being used across industries such as supplier direct model, buyer direct model, SaaS/PaaS model, network model, four corner model, multi-cloud model, and hybrid cloud model. Organization across the world either exchange e-invoices directly with their customers or use third part service providers. The growing trend of digitalizing various documents for efficient processing and compliance requirements is boosting the transition from manual paper based invoices to electronic invoices on a global scale. The rising demand for digital solutions to combat tax evasion and financial fraud among government organizations and tax authorities is driving the growth in e-invoicing mandates in various countries.

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E-invoicing Market – Company Profiles

Basware Corporation
Cegedim SA
Comarch SA
Coupa Software Inc.
IBM Corporation
Nipendo Ltd.
SAP SE
The Sage Group plc
Tradeshift
Transcepta LLC

The market for e-invoicing is segmented into deployment model, end-user, and geography. Based on deployment model, the market is segmented into cloud and on-premise. In 2019, the cloud segment held the largest share of global e-invoicing market. Based on end-user, the e-invoicing market is divided into B2B, B2C, and others. The others segment includes B2G and G2B sectors. In 2019, B2C held the largest share of global e-invoicing market. B2B and B2G are expected to grow at impressive growth rates owing to rising government initiatives to support mandatory e-invoicing in these segments. Geographically, the market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). In 2019, South America held the largest share followed by Europe and APAC. APAC is projected to be the fastest growing region from 2020 to 2027.

Players operating in the E-invoicing market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the E-invoicing market. A few developments by key players of the E-invoicing market are:

In March 2020, Tradeshift announced the launch of its new seller engagement platform, which is engaged in building up the digital collaboration between buyers and suppliers by delivering value of a transaction for both side..

In March 2019, SAP Ariba awarded as “best-in-class” solution provider in Ardent Partners’ 2019 for providing high level support to its global network and enables the offer on both ends of its services.

E-invoicing Market – by Deployment Model

On-premise
Cloud

E-invoicing Market – by Business Function

B2B
B2C
Others

E-invoicing Market – by Geography

North America
US
Canada
Mexico
Europe
France
Germany
Russia
UK
Italy
Rest of Europe
Asia Pacific (APAC)
China
India
Japan
Australia
Rest of APAC
MEA
Saudi Arabia
UAE
South Africa
Rest of MEA
SAM
Brazil
Argentina
Rest of SAM

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