MARKET OVERVIEW
The global E-Invoicing Market was valued at USD 15.9 billion in 2024 and is forecast to reach USD 68.7 billion by 2033. The market is expected to grow at a CAGR of 16.8% during the forecast period 2025-2033. Growth is driven by the expanding e-commerce sector, widespread adoption of advanced IT solutions, and technological innovations such as web and software invoicing applications.
STUDY ASSUMPTION YEARS
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Year: 2025-2033
E-INVOICING MARKET KEY TAKEAWAYS
- Current Market Size: USD 15.9 Billion in 2024
- CAGR: 16.8% during 2025-2033
- Forecast Period: 2025-2033
- The market is expanding due to the growth of the e-commerce industry and increasing adoption of IT solutions.
- Technological advancements such as AI, machine learning, and blockchain are transforming invoicing efficiency.
- Cloud-based e-invoicing holds the largest deployment share, driven by accessibility and scalability.
- B2C channel represents the largest market segment, benefiting from consumer preference for digital convenience.
- Europe is the dominant region due to proactive government mandates and developed digital infrastructure.
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MARKET GROWTH FACTORS
One of the key factors driving the growth of the e-invoicing market is exponential growth of e-commerce. A large number of transactions on e-commerce websites require generation and processing of invoices. Use of e-invoicing platforms ensures faster delivery, and management of invoices, which leads to an improved experience for clients and timely payment. The process of digitalization and globalization increase the demand for frictionless, real-time cross-border transactions and the need to avoid delays in invoicing.
E-invoicing can also use AI and machine learning to improve data extraction, validation, and anomaly detection. Blockchain technology can potentially provide more security and immutability to transaction records to establish trust with the interlinked parties. These developments result from faster invoice processing and greater transparency, further stimulating the market growth.
Some countries have regulations. The regulations require businesses to use e-invoices. The regulations enforce VAT compliance. The regulations reduce VAT fraud. The regulations improve financial transparency. This is particularly the case for governmental procurement procedures in Europe. Environmental sustainability issues are also a motive because e-invoicing does not use paper and reduces waste and the carbon footprint.
MARKET SEGMENTATION
Breakup by Channel:
- B2B
- B2C
- OthersB2C represents the most leading channel, involving large volumes of individual consumer transactions. E-invoicing streamlines payments by sending digital invoices directly via email or online portals, reducing paperwork and saving costs.
Breakup by Deployment Type:
- Cloud-based
- On-premisesCloud-based deployment holds the largest market share due to accessibility, enabling remote work and collaboration. It offers scalability for fluctuating transaction volumes and reduces capital expenditure by eliminating infrastructure needs.
Breakup by Application:
- Energy and Utilities
- FMCG
- E-Commerce
- BFSI
- Government
- OthersE-commerce holds the largest market share by handling a large volume of digital transactions needing efficient invoicing. E-invoicing integrates seamlessly with online platforms, enhancing customer experience and adoption.
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
REGIONAL INSIGHTS
Europe dominates the global e-invoicing market, driven by proactive government mandates like the European Directive 2014/55/EU requiring e-invoicing in public procurement. Europe’s strong digital infrastructure, early technology adoption, and widespread use of electronic banking and digital payments facilitate high adoption rates. These factors position Europe as the leading regional market.
RECENT DEVELOPMENTS & NEWS
Araize, Inc. released a new version of its e-invoicing software featuring enhanced invoice tracking, payment reminders, and customization, with integration to CRM and accounting systems. The Sage Group introduced AI-powered capabilities for automated invoice workflows and real-time analytics. SAP Ariba enhanced its e-invoicing and procurement solutions to improve supplier collaboration and supply chain visibility. These advancements reflect the integration of AI and cloud technologies to improve invoicing efficiency.
KEY PLAYERS
- Basware Oy
- Comarch SA
- Coupa Software Inc
- EDICOM
- Esker
- International Business Machines Corporation
- Nipendo
- Open Text Corporation
- Pagero
- PaySimple
- Sage Group plc
- SAP SE
- Tradeshift Holdings, Inc.
- Vertex, Inc
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