E-invoicing Market by End-users and Geography - Forecast and Analysis 2020-2024
- Published: Mar 2021
- Pages: 123
- SKU: IRTNTR41123
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The e-invoicing market share is expected to increase by USD 6.93 bn from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 19.22%.
This e-invoicing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers e-invoicing market segmentations by End-user (B2B and B2C) and Geography (Europe, North America, APAC, and South America). The e-invoicing market report also offers information on several market vendors, including Basware Corp., Cegedim SA, Comarch SA, Coupa Software Inc., International Business Machines Corp., Nipendo Ltd., SAP SE, The Sage Group Plc, TradeShift Inc., and Transcepta LLC among others.
What will the E-invoicing Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the E-invoicing Market Size for the Forecast Period and Other Important Statistics
E-invoicing Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The convenience and easy accessibility of mobile payment systems is notably driving the e-invoicing market growth, although factors such as the threat of cyber-attacks and data privacy may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the e-invoicing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key E-invoicing Market Driver
The convenience and easy accessibility of mobile payment systems is notably driving the global e-invoicing market growth. Mobile commerce simplifies banking, commercial transactions, and bill payments through mobile applications. All physical transactions such as account opening and closing, deposit opening and closing, withdrawals, and funds transfers are becoming digital and easy through banking applications. Globally, to extend payment services to remote areas, governments are investing significantly in financial institutions to encourage them to extend their mobile banking services in rural areas to increase the popularity of using mobile for online transactions. Moreover, mobile commerce payments are a viable solution that increasingly requires e-billing/e-invoicing in banking, telecommunications, and e-commerce sectors. Further, mobile commerce vendors are partnering with telecommunication service providers to offer payment services as a built-in function, which is further driving the market.
Key E-invoicing Market Trend
Increased security of documents using blockchain is the key market trend driving the e-invoicing market growth. E-billing allows storage of all e-invoices, which can be assessed when required. Blockchain is a technology, which helps to keep the data intact, and only authorized personnel can access these data, thereby increasing the security for confidential data. Blockchain is also a cost-effective database management solution for e-invoices. Blockchain eliminates the need for intermediaries like payment service providers as it delivers secured and direct transactions between parties in the same network. Blockchain technology is used to provide advanced and cost-effective solutions when compared with other technologies. Many financial institutions and technology-driven organizations are adopting this technology for their benefit. The blockchain technology market is estimated to grow significantly during the forecasted period.
Key E-invoicing Market Challenge
The major challenge impeding the global e-invoicing market growth is the threat from cyber-attacks and data privacy. E-invoicing implies that confidential data of companies are available online either on the cloud or in the on-premise database, which is at risk from cyber-attacks. Cybersecurity and privacy concerns pose a challenge for the development of IT. E-invoicing systems have access to sensitive data of organizations, thus making the organizations vulnerable to unethical hackers. Mismanagement of data increases the vulnerability to cyber-crime, which may affect the security of organizations. This may eventually lead to a reduction in brand loyalty, expensive lawsuits, and costly insurance claims. Furthermore, technical glitches, errors, and the transfer of unsecured data within organizations make the system vulnerable to hackers. The shutdown of systems may significantly affect the brand value of enterprises. Thus, concerns about cybersecurity and privacy are a primary challenge for the global e-invoicing market.
This e-invoicing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Parent Market Analysis
Technavio categorizes the global e-invoicing market as a part of the global systems software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the e-invoicing market during the forecast period.
Who are the Major E-invoicing Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Basware Corp.
- Cegedim SA
- Comarch SA
- Coupa Software Inc.
- International Business Machines Corp.
- Nipendo Ltd.
- SAP SE
- The Sage Group Plc
- TradeShift Inc.
- Transcepta LLC
This statistical study of the e-invoicing market encompasses successful business strategies deployed by the key vendors. The e-invoicing market is fragmented and the vendors are deploying growth strategies such as deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Basware Corp. - It includes a wide range of solutions, such as e-invoicing, PDF e-invoicing, paper invoices, and invoice archiving
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The e-invoicing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
E-invoicing Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the e-invoicing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for E-invoicing Market?
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46% of the market's growth will originate from Europe during the forecast period. UK and Germany are the key markets for the e-invoicing market in Europe. Market growth in this region will be faster than the growth of the market in North America.
The government has made the process of e-invoicing mandatory for all B2B and B2C services across the country. This initiative by the government in the region is expected to increase the demand for e-invoicing services, which will facilitate market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The disruption of supply chains due to lockdowns impacted the intermediate goods and services and the auxiliary logistics industry because of COVID-19, during 2020. However, the demand for digital solutions has grown at a higher rate in the past few months. Many government agencies and financial institutes have taken significant initiatives to implement automated processes in business transactions.
What are the Revenue-generating End-user Segments in the E-invoicing Market?
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The e-invoicing market share growth by the B2B segment will be significant during the forecast period. The segment is growing primarily due to increasing globalization and the presence of IT, banking, financial services and insurance (BFSI), and retail companies, which require centralized systems for billing/invoicing through the internet. Strict regulations in the banking and retail sectors, the popularity of e-commerce, and the emergence of alternative ways of payments due to digitization will drive the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the e-invoicing market size and actionable market insights on post COVID-19 impact on each segment.
E-invoicing Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 19.22%
Market growth 2020-2024
$ 6.93 billion
YoY growth (%)
Europe, North America, APAC, and South America
Performing market contribution
Europe at 46%
Key consumer countries
US, UK, Germany, Denmark, and Singapore
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Basware Corp., Cegedim SA, Comarch SA, Coupa Software Inc., International Business Machines Corp., Nipendo Ltd., SAP SE, The Sage Group Plc, TradeShift Inc., and Transcepta LLC
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this E-invoicing Market Report?
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive e-invoicing market growth during the next five years
- Precise estimation of the e-invoicing market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the e-invoicing industry across Europe, North America, APAC, and South America
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of e-invoicing market vendors
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1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- 2.2 Market characteristics
- Exhibit 02: Market characteristics
- 2.3 Value chain analysis
- Exhibit 03: Value chain analysis: Systems software market
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 15: End user - Market share 2020-2025 (%)
- 5.2 Comparison by End user
- Exhibit 16: Comparison by End user
- 5.3 B2B - Market size and forecast 2020-2025
- Exhibit 17: B2B - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: B2B - Year-over-year growth 2020-2025 (%)
- 5.4 B2C - Market size and forecast 2020-2025
- Exhibit 19: B2C - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: B2C - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by End user
- Exhibit 21: Market opportunity by End user
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 Europe - Market size and forecast 2020-2025
- Exhibit 25: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 26: Europe - Year-over-year growth 2020-2025 (%)
- 7.4 APAC - Market size and forecast 2020-2025
- Exhibit 27: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
- 7.5 North America - Market size and forecast 2020-2025
- Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
- 7.6 South America - Market size and forecast 2020-2025
- Exhibit 31: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
- 7.7 MEA - Market size and forecast 2020-2025
- Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 35: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 36: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 37: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Competitive scenario
- 9.2 Vendor landscape
- Exhibit 38: Vendor landscape
- 9.3 Landscape disruption
- Exhibit 39: Landscape disruption
- 9.4 Industry risks
- Exhibit 40: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 41: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 42: Market positioning of vendors
- 10.3 Basware Corp.
- Exhibit 43: Basware Corp. - Overview
- Exhibit 44: Basware Corp. - Business segments
- Exhibit 45: Basware Corp. - Key news
- Exhibit 46: Basware Corp. - Key offerings
- 10.4 Cegedim SA
- 10.5 Comarch SA
- Exhibit 52: Comarch SA - Overview
- Exhibit 53: Comarch SA – Business segment
- Exhibit 54: Comarch SA - Key news
- Exhibit 55: Comarch SA - Key offerings
- Exhibit 56: Comarch SA - Segment focus
- 10.6 Coupa Software Inc.
- Exhibit 57: Coupa Software Inc. - Overview
- Exhibit 58: Coupa Software Inc. - Business segments
- Exhibit 59: Coupa Software Inc. - Key news
- Exhibit 60: Coupa Software Inc. - Key offerings
- Exhibit 61: Coupa Software Inc. - Segment focus
- 10.7 International Business Machines Corp.
- Exhibit 62: International Business Machines Corp. - Overview
- Exhibit 63: International Business Machines Corp. - Business segments
- Exhibit 64: International Business Machines Corp. - Key news
- Exhibit 65: International Business Machines Corp. - Key offerings
- Exhibit 66: International Business Machines Corp. - Segment focus
- 10.8 Nipendo Ltd.
- Exhibit 67: Nipendo Ltd. - Overview
- Exhibit 68: Nipendo Ltd. - Product and service
- Exhibit 69: Nipendo Ltd. - Key offerings
- 10.9 SAP SE
- Exhibit 70: SAP SE - Overview
- Exhibit 71: SAP SE - Business segments
- Exhibit 72: SAP SE - Key news
- Exhibit 73: SAP SE - Key offerings
- Exhibit 74: SAP SE - Segment focus
- 10.10 Sage Group Plc
- Exhibit 75: Sage Group Plc - Overview
- Exhibit 76: Sage Group Plc - Business segments
- Exhibit 77: Sage Group Plc - Key news
- Exhibit 78: Sage Group Plc - Key offerings
- Exhibit 79: Sage Group Plc - Segment focus
- 10.11 TradeShift Inc.
- Exhibit 80: TradeShift Inc. - Overview
- Exhibit 81: TradeShift Inc. - Product and service
- Exhibit 82: TradeShift Inc. - Key offerings
- 10.12 Transcepta LLC
- Exhibit 83: Transcepta LLC - Overview
- Exhibit 84: Transcepta LLC - Product and service
- Exhibit 85: Transcepta LLC - Key offerings
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 86: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 87: Research Methodology
- Exhibit 88: Validation techniques employed for market sizing
- Exhibit 89: Information sources
- 11.4 List of abbreviations
- Exhibit 90: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Convenience and easy accessibility of mobile payment systems
- Increased security of documents u sing Block c hain
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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