Europe E-Invoicing Market Growth Rate (CAGR) of 21.37% During 2022-2027

The latest research study “Europe E-Invoicing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the Europe E-invoicing market is expected to exhibit a CAGR of 21.37% during 2022-2027.

Electronic invoicing, alternatively known as e-invoicing, represents the generation of electronic bills or invoices through a digital platform during the exchange of goods and services. It involves the usage of smart devices, including tablets, mobile phones, laptops, etc., and includes debit and credit notes, purchase orders, and remittance vouchers specifying the terms and conditions of the payment. E-invoicing methods offer numerous benefits, such as improved invoice accuracy and data quality, reduced instances of delayed payments, faster invoice-processing time and transparency, etc. They even aid in convenient business transaction tracking and minimize the costs associated with system design, customization, implementation, maintenance, and training. As a result, e-invoicing solutions find extensive applications across several sectors in Europe, including energy and utilities, fast-moving consumer goods (FMCG), e-commerce, banking, financial services and insurance (BFSI), government, etc.

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Europe E-Invoicing Market Trends and Drivers: 

The expanding international trade activities between European countries and the inflating need for systematic invoicing solutions are primarily driving the Europe E-invoicing market. In addition to this, the rising utilization of cloud services for enhanced record-keeping without storage issues and the increasing requirement for interoperability between multiple document formats in public administration processes, tax authorities, and regulatory body operations across various countries in the region are acting as significant growth-inducing factors. Moreover, the elevating product innovations and the growing digitization are also positively influencing the regional market. Apart from this, the escalating adoption of blockchain technology to ensure efficient invoice processing, document security, and flexibility among enterprises is expected to propel the Europe E-invoicing market in the coming years.

Europe E-Invoicing Market Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Channel:

• B2B
• B2C
• Others

Breakup by Deployment Type:

• Cloud-based
• On-premises

Breakup by Application:

• Energy and Utilities
• FMCG
• E-Commerce
• BFSI
• Government
• Others

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Breakup by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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