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, also known as Electronic Invoicing, pertains to the digital exchange of invoices between a purchaser and a vendor, eliminating the need for traditional paper-based invoicing. This transformation facilitates a more efficient and automated billing system that can be accessed from anywhere and at any time. Moreover, it seamlessly integrates with existing accounting systems, expedites the invoicing procedure, and reduces the occurrence of manual errors. Consequently, it fosters swift and error-free transactions among businesses, promotes compliance with legal and tax regulations, and standardizes invoice formats to facilitate international trade. Given its ability to enhance visibility in transaction processes, the demand for e-invoicing is steadily increasing in the United States.
United States E-Invoicing Market Trends and Drivers:
Currently, a key driving force behind the market's expansion in the United States is the heightened emphasis on reducing paper usage for billing purposes. Furthermore, the market is experiencing growth due to the increasing adoption of cloud-based services and the upswing in online transactions, both in the business-to-business (B2B) and business-to-consumer (B2C) realms. Additionally, there is a positive market outlook fostered by the growing preference for e-invoicing solutions, particularly among small and medium-sized enterprises (SMEs). Moreover, the market is being fortified by the escalating concern for data security and the proliferation of mobile computing. Lastly, the market is benefiting from the surge in online shopping activities among the general population 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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