E-Invoicing Market Size Forecasted to Reach $24, 726 Mn By 2027: FnF Research
New York, NY, March 08, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “E-Invoicing Market By Type (Cloud-Based and On-Premise) and By End-Users (Energy, FMCG, E-Commerce, Finance, Express Service, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” .
“According to the research report, the global E-Invoicing Market was estimated at USD 4,633 Million in 2019 and is expected to reach USD 24, 726 Million by 2027. The global E-Invoicing Market is expected to grow at a compound annual growth rate (CAGR) of 20.4% from 2019 to 2027”.
Electronic invoicing or e-invoicing is the exchange of the invoice document between a supplier and buyer in an integrated automated format. In other words, electronic invoicing is a kind of electronic billing. Moreover, invoicing resembles any heavily paper-based method that is manually tiresome or monotonous and can cause human error resulting in enhanced costs and elongation of the processing lifecycle for the firms.
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the E-Invoicing Market?
2) What is the market size, share of the E-Invoicing Market?
3) Who are the top market players in E-Invoicing Market?
4) What will be the future market of the E-Invoicing Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Impact Analysis of COVID-19 Pandemic on Businesses: Know Short Term and Long Term Impact
Most of the businesses are facing a growing litany of business-critical concerns related to the coronavirus outbreak, including supply chain disruptions, a risk of a recession, and a potential drop in consumer spending. All these scenarios will play out differently across various regions and industries, making accurate and timely market research more essential than ever.
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Furthermore, the e-invoice document encompasses purchase orders, debit notes, payment terms, credit notes, and remittance slips. Electronic invoice comprises of entry alternatives and myriad technologies utilized as an umbrella terminology to define the procedure through which an invoice is presented to the end-user in an electronic form for the purpose of making payment.
Top Market Players:
Some of the major players in the business include YAT Software, Araize, Inc., Tipalti Solutions Ltd., Freshbooks, KashFlow Software, Zervant, Mercury Systems, Inc., Coupa Software Inc., Zoho, Intuit, IPayables, Xero, FinancialForce, SAP, Acclivity Group LLC, Norming Software, Brightpearl, Sage, and PaySimple.
To know an additional revised 2020 list of market players, request a sample report: https://www.fnfresearch.com/sample/e-invoicing-market-by-type-cloud-based-and-177
Massive acceptance of cloud-based solutions to drive the market trends
Cloud computing plays a key role in resolving the inefficiencies of the firm along with enhancing business growth. In addition to this, redundant procedural, managerial, hardware, and software costs in the companies can be prevented through the utilization of cloud-based solutions. All these aspects are expected to drive market expansion during the forecast timeline.
Furthermore, escalating the utilization of the web in small, medium, and large-sized firms to create web invoicing as well as online forms for the purpose of entering the invoice data online will proliferate the market demand. Apparently, the rise in the acceptance of e-invoicing across countries like Mexico, Chile, and Brazil due to supportive government initiatives will impel the market growth over the forecast timeline.
Apart from this, many of the public sector firms in European countries like Denmark, Sweden, Spain, and Norway has made the use of e-invoicing mandatory. This has resulted in government dealers funding the e-invoicing systems for doing the billing. Moreover, the EU has drafted laws promoting the use of e-invoicing. All these factors are expected to steer the market growth over the forecast period. Nonetheless, concerns over the data security and risks pertaining to the use of new technologies will put brakes on the market growth over the forecast timeline. However, evolving new markets in the Asia Pacific will offer new growth opportunities for the business over the forecast timeline and thus help in nullifying the market hindrances over the forecast timeline.
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A cloud-based segment to record the highest CAGR over the forecast period
The cloud-based segment is predicted to register the highest growth rate of over 21% during the forecast timespan due to its low ownership costs and its ability to help minimize time utilization. Furthermore, cloud technology also helps the suppliers in easily connecting consumers and suppliers to electronic invoicing.
Finance segment to dominate the end-users landscape in terms of revenue
The segmental growth during the forecast timespan is attributed to the enhanced cash management system, effective dispute handling, and substitute financial options.
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 products & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
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The study provides a decisive view of the E-Invoicing market by segmenting the market based on type, end-users, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027.
Based on the type, the market is sectored into Cloud-Based and On-Premise. In terms of end-users, the industry is divided into Energy, FMCG, E-Commerce, Finance, Express Service, and Others.
Latin America to contribute major market revenue share by 2027
The growth of the market in Latin America during the forecast timeline is credited to the high acceptance of electronic invoicing across the government sector. Moreover, the massive penetration of fiscal document exchange in e-format is predicted to further foster market growth over the forecast period.
Browse the full “E-Invoicing Market By Type (Cloud-Based and On-Premise) and By End-Users (Energy, FMCG, E-Commerce, Finance, Express Service, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” report at https://www.fnfresearch.com/e-invoicing-market-by-type-cloud-based-and-177
This report segments the E-Invoicing market as follows:
E-Invoicing Market : By Type Analysis
E-Invoicing Market : By End-Users Analysis
- Express Service
Key Features of E-Invoicing Market Report:
- E-Invoicing Market structure: Overview, industry life cycle analysis, supply chain analysis
- E-Invoicing Market: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- E-Invoicing Market size, trend, and forecast analysis
- E-Invoicing Market segments’ trend and forecast
- E-Invoicing Market’s competitive landscapes: Market share, Product portfolio, New product launches, etc.
- E-Invoicing Market attractiveness and associated growth opportunities
- Emerging Trends in the E-Invoicing Market.
- Strategic growth opportunities for the existing and new players
- Key success factors
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