Europe E-Invoicing Market is Expected to Reach US$ 4,217.6 Mn by 2027

News

The global e-Invoicing market is growing with the rising adoption of these solutions in segments such as business-to-business (B2B), business-to-customer (B2C), and business-to-government. E-Invoicing refers to the electronic generation of invoice as well as exchange of this e-invoice between buyers and suppliers. Various countries define e-Invoicing differently as per the regulations and nature of businesses prevalent in these countries. The e-Invoicing market is segmented on the basis of type and end user. Based on type, the market is segmented into cloud and on-premises. Further, the market based on end user is segmented into B2B, B2C, and others.

The Europe E-Invoicing Market is growing along with the Technology, Media and Telecommunications industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.

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Market Overview and Dynamics

The Europe e-Invoicing market is expected to reach US$ 4,217.6 Mn by 2027 from US$ 1,241.7 Mn in 2019; it is estimated to grow at a CAGR of 17.1% from 2020 to 2027. Factors driving the market growth in this region include the with adoption of e-invoicing, businesses can save substantial costs related to in Invoicing generation and transmission to end customers. The automation of Invoicing process through e-Invoicing strategically and operationally benefits the buyers, suppliers, and managers. A few of their benefits include reduced costs, increased accuracy, faster payments, enhanced productivity, eco-friendliness, improved cash management, and improved compliance.

Key Market Segments

In terms of deployment model, the cloud segment accounted for a larger share of the Europe e-Invoicing market in 2019. Further, the B2C segment held the largest share of the market, based on end user, in 2019.

These factors are expected to offer broad growth opportunities in the Technology, Media and Telecommunications industry and this is expected to cause the demand for Europe E-Invoicing Market in the market.

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EUROPE E-INVOICINGMARKET SEGMENTATION

By Type

  • Cloud
  • On-Premises

By End User

  • B2B
  • B2C
  • Others

By Country

  • Germany
  • France
  • Italy
  • UK
  • Russia
  • Rest of Europe

Company Profiles

  • Basware Corporation
  • Cegedim SA
  • Comarch SA
  • Coupa Software Inc.
  • IBM Corporation
  • SAP SE
  • The Sage Group plc
  • Tradeshift

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the e-Invoicing market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Basware Corporation, Cegedim SA, Comarch SA, and Coupa Software Inc.

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