Report : Europe E-Invoicing Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Cloud, On-Premise); End-User (B2B, B2C, Others)
Cloud Deployment Model to Dominate EuropeE-Invoicing Marketduring 2020–2027
According to a new market research study on “EuropeE-Invoicing Marketto 2027 – Regional Analysis and Forecast by Deployment Model, and End-User,”the market is expected to reach US$ 4,217.6 Mnby 2027 from US$ 1,241.7Mn in 2019; it is estimated to grow at a CAGR of 17.1% from 2020 to 2027. Government bodies and public administrators are the key contributors to the rise of e-Invoicing in Europe. For instance, the European countries have explicit directives that outline various guidelines for the adoption of e-in Invoicing. However, government initiatives of various countries in the region also drive the European e-Invoicing market.
The e-Invoicingmarket, by deployment model, is segmented into on-premises and cloud.The growing adoption of cloud-based solutions in various industries is mainly attributed to easy deployment, interoperability, cost saving, high efficiency, and on-demand features of these solutions. Moreover, the large and increasingly growing number of SMEs worldwideis also boosting the demand for cloud-based e-invoicing solutions.
Basware Corporation, Cegedim SA, Comarch SA, Coupa Software Inc., and IBM Corporationare among the leading companies in the Europe e-Invoicing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, EDF Energy selected SY by Cegedim's e-business for the digitization of its supplier invoices. EDF, with the help of this solution, digitized its business, financial, accounting, as well as data flows and communication processes.
Europe: E-Invoicing Market, By Country, 2019 and 2027
The report segments the EuropeE-Invoicing marketas follows:
By Deployment Type
- Cloud
- On-Premises
By End Use
- B2B
- B2C
- Others
By Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
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