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, is the digital exchange of invoices between buyers and sellers. This method replaces the traditional paper-based invoicing system, promoting a more efficient and automated billing process. Accessible at any time and from any location, e-invoicing seamlessly integrates with existing accounting systems, expediting invoicing and minimizing manual errors. This technological advancement facilitates swift and accurate business transactions while aiding in compliance with legal and tax requirements. Moreover, by standardizing invoice formats, e-invoicing encourages international trade. Its growing demand in the United States is driven by its ability to enhance transaction process visibility.
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United States E-Invoicing Market Trends and Drivers:
Currently, a significant driver for the market’s growth in the United States is the heightened emphasis on reducing paper usage for billing purposes. Additionally, the market is experiencing growth due to the increasing adoption of cloud-based services and the rise in online transactions within both business-to-business (B2B) and business-to-consumer (B2C) domains. The market outlook is further favorable due to the surging interest in e-invoicing solutions among small and medium-sized enterprises (SMEs). Furthermore, the market is being bolstered by the escalating focus on data security and the proliferation of mobile computing. Moreover, the market is benefiting from the growing trend of online shopping activities among the general populace in the United States.
The report segmented the market on the basis of channel, deployment type and application.
Breakup by Channel:
Breakup by Deployment Type:
Breakup by Application:
- Energy and Utilities
Breakup by Region:
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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