Global E-Invoicing Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Deployment Mode (On-Premise and Cloud), Business Function (B2B, B2C, and Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Industry Analysis (2024 to 2029)

Updated On: January, 2024
ID: 13478
Pages: 150

Global E-Invoicing Market Size (2024 to 2029)

The global E-invoicing market is predicted to reach USD 7.97 billion in 2024 and USD 20.93 billion by 2029, growing at a CAGR of 16.20% during the forecast period.

An E-invoice is an electronic transaction document between a buyer and seller. The E-invoicing system has ended the paper-based system, reducing costs and human errors. E-invoicing has been practiced for many years and now manages more than ten crore business transactions yearly. Due to the advantages associated with E-invoicing, such as affordability, faster billing, more accuracy, and efficient tracking, the market for E-invoicing is expected to see significant growth during the forecast period.

Global E-Invoicing Market Drivers:

The incidence of tax evasion is growing significantly across the world. Fighting tax evasion and financial fraud was a challenge to the government bodies. According to the United States Sentencing Commission, in 2021, the U.S. Sentencing Commission handled an estimated 57287 cases, 470 cases with tax fraud. Hence, the growing number of tax invasion cases among various government organizations is one of the major factors fuelling the growth of the E-invoicing market. The e-commerce industry is on a rapid boom, which is anticipated to favor the growth rate of the E-Invoicing market. A projected 5 billion people worldwide are using the Internet and will make 5.2 trillion USD online transactions in 2021. IT adoption has increased among industries such as BFSI, telecommunications, and others, which is predicted to fuel the growth rate of the E-Invoicing market in the coming years.

The usage of E-invoicing has seen a spike among various segments such as B2G, B2C, and B2B in various parts of the world, which is also expected to rise further in the coming years, thus boosting the market growth. The possibility of cost reduction by automating E-invoicing is another major factor advancing the market growth. The involvement of cloud computing in e-invoicing is expected to positively impact the market's growth rate. Integrating technological advancements such as blockchain and Artificial Intelligence to enhance security and provide services with greater efficiency is anticipated to offer lucrative growth opportunities to the E-invoicing market. In addition, the booming digital transformation is expected to open more growth opportunities to market participants during the forecast period.

Companies operating in the E-invoicing market are using the introduction of advanced e-invoicing solutions, acquisitions, and collaborations as their primary strategies to maintain and strengthen their position in the market. The leading companies invest significant research and development to develop e-invoicing solutions that satisfy all customer requirements. 

Global E-Invoicing Market Restraints:

High costs associated with implementing and maintaining E-invoicing are a significant barrier to market-to-market growth. The insufficiently skilled workforce required to handle the E-invoicing systems in some parts of the world further inhibits market growth. By looking at the high initial costs, companies do not prefer to enter the market, hampering the market expansion and limiting the market’s growth rate.

Impact of COVID-19 on the global E-Invoicing market:

The World Health Organization (WHO) declared COVID-19 pandemic in April 2020. Countries from North America and Europe were affected the most due to coronavirus. To control the spread of the virus, many nations worldwide announced lockdowns and closed their borders. As a result, many industries were severely affected because no business activity existed. The E-Invoicing market enjoyed consistent growth year-over-year until COVID-19 arrived. The sudden outbreak of COVID-19 caused a significant downfall in the E-invoicing market between 2020 and 2021 due to travel bans, nationwide lockdowns, a slump in the economy, and supply chain disruptions. However, considering the stabilizing situations, the market for E-invoicing is expected to bounce back and register healthy growth during the coming years.




Market Size Available

2023 to 2029

Base Year


Forecast Period

2024 to 2029



Segments Covered

By Deployment Model, Business Function, and Region

Various Analyses Covered

Global, Regional, & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Basware Corporation, Cegedim SA, Comarch SA, Coupa Software Inc., IBM Corporation, Nipendo Ltd., SAP SE, The Sage Group Plc, Tradeshift, and Transcepta LLC


This research report on the global e-invoicing market has been segmented and sub-segmented based on the deployment model, business function, and region.

Global E-invoicing Market – By Deployment Model:

  • On-premise

  • Cloud

Based on the deployment model, the cloud segment had the major share of the global E-invoicing market in 2021, and the domination is anticipated to continue throughout the forecast period. Implementing an E-invoicing solution in the cloud is more accessible, affordable, and flexible than on-premises. On the other hand, the on-premises segment accounted for a substantial share of the global E-invoicing market in 2021. 

Global E-invoicing Market – By Business Function:

  • B2B

  • B2C

  • Others

Based on the business function, the B2C segment dominated the E-invoicing market, accounting for the largest share of the market in 2021. However, the B2B segment is expected to register the highest CAGR among all the segments during the forecast period. The growth of the B2B segment is anticipated to be driven by the growing adoption of E-invoicing by big-sized companies. B2G and G2B are included in the other segment, which is predicted to grow at a moderate CAGR during the forecast period.

Global E-invoicing Market – By Region:

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East and Africa

Geographically, Europe, the Middle East, and Africa collectively reported for over 50% of the global market share in 2021. Regions such as the Americas and APAC accounted for a significant share of the global market in the past. However, the APAC region is anticipated to rise at a promising CAGR during the forecast period. The European region is expected to grow at a CAGR of 17.1% between the forecast period. The Latin American region had a prominent global market share in 2021 and is expected to register a healthy CAGR throughout the forecast period. Many countries in Latin America are adopting E-invoicing, which is further boosting the market growth in this region. The Middle East and Africa are predicted to showcase notable growth in the coming days. In the Middle East and Africa, Oman in 2023 and Bahrain in 2024, plan to make the e-invoicing mandate. The North American region is predicted to showcase a healthy growth rate during the forecast period. The growing volume of transactions from the e-commerce industry and increasing adoption levels of E-invoicing in North American countries are primarily propelling the market growth.


The major companies operating in the global e-invoicing market include Basware Corporation, Cegedim SA, Comarch SA, Coupa Software Inc., IBM Corporation, Nipendo Ltd., SAP SE, The Sage Group Plc, Tradeshift, and Transcepta LLC.


  • The Kingdom of Saudi Arabia will start the second E-invoicing phase, the “Integration Phase,” in January 2023. The first “Generation phase” was initiated in December 2021.

  • In November 2022, Clear, an online taxation platform, announced its expansion in the GCC region. Transparent has been in Saudi Arabia since 2021 and is now expanding to the rest of the GCC region.

  • IN November 2022, Dooap and Pagero partnered to provide customers access to a global e-invoicing network.


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Frequently Asked Questions

How widespread is the adoption of E-Invoicing on a global scale?

The adoption of E-Invoicing has been steadily increasing globally. Many countries have implemented or are in the process of implementing E-Invoicing initiatives to enhance efficiency, reduce costs, and minimize errors in the invoicing process.

How does E-Invoicing contribute to sustainability and environmental conservation?

E-Invoicing significantly reduces the need for paper usage, leading to environmental benefits such as reduced deforestation, energy conservation, and minimized carbon footprint associated with traditional paper-based invoicing.

Can E-Invoicing be seamlessly integrated into existing accounting and ERP systems?

Yes, E-Invoicing solutions are designed to integrate with various accounting and Enterprise Resource Planning (ERP) systems, facilitating a smooth transition and ensuring compatibility with existing business processes.

How does E-Invoicing contribute to preventing fraud in financial transactions?

E-Invoicing employs advanced security measures, including encryption and digital signatures, which significantly reduce the risk of fraudulent activities compared to traditional paper-based invoicing.

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