United States E-Invoicing Market Overview 2023-2028
The United States e-invoicing market size reached US$ 2,807.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 8,566.8 Million by 2028, exhibiting a growth rate (CAGR) of 19.53% during 2023-2028.
E-Invoicing, or Electronic Invoicing, refers to the exchange of invoices between a buyer and a seller in an electronic format. It replaces the traditional paper-based invoicing process, enabling a more streamlined and automated billing system. It can be accessed from anywhere, at any time. It allows seamless integration with existing accounting systems. It speeds up the invoicing process and reduces manual errors. It facilitates quick and efficient transactions between businesses. It also assists in adhering to legal and tax regulations. It enables international trade by standardizing invoice formats. Furthermore, as e-invoicing enhances the visibility of transaction processes, its demand is rising in the United States.
United States E-Invoicing Market Trends and Drivers:
At present, the increasing focus on reducing the usage of paper for billing purposes represents one of the crucial factors impelling the growth of the market in the United States. Besides this, the rising integration of cloud-based services and an increase in business-to-business (B2B) and business-to-consumer (B2C) online transactions is contributing to the growth of the market in the United States. In addition, the growing inclination towards e-invoicing solutions and small and medium-sized enterprises (SMEs) is offering a favorable market outlook. Apart from this, the increasing focus on data security and the rise of mobile computing is strengthening the growth of the market in the United States. Additionally, the increasing online shopping activities among the masses are bolstering the growth of the market in the United States.
The report segmented the market on the basis of channel, deployment type and application.
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
Breakup by Region:
- Northeast
- Midwest
- South
- West
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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