South & Central America E-Invoicing Market Forecast to 2031 - Regional Analysis- by Deployment (Cloud-Based and On-Premise), End User (Retail and E-Commerce, Government, IT and Telecom, BFSI, and Others), Application (B2B, B2C, and B2G), and Type (Non-PO Invoices and PO Invoices)

BMIRE00030569 | Pages: 85 | Technology, Media and Telecommunications | Jul 2024 | Status: Published

The South & Central America e-invoicing market was valued at US$ 2,527.29 million in 2023 and is expected to reach US$ 10,272.94 million by 2031; it is estimated to record a CAGR of 19.2% from 2023 to 2031.

 

Rise in Demand for Cloud-Based Solutions Fuels South & Central America E-Invoicing Market

 

Cloud computing is becoming the driving force for digital transformation across industries. The demand for cloud-based solutions across businesses is growing at an unprecedented rate owing to the advantages offered by these solutions over on-premises deployment. Major advantages of cloud-based solutions include easy deployment, interoperability, cost savings, high efficiency, and on-demand features. Services such as Infrastructure as a Service (IaaS) and Software as a Service (SaaS) are growing rapidly. However, the adoption of cloud-based solutions varies across geographies and businesses depending on multiple factors such as regulatory environment and competitive scenarios. The demand for cloud-based solutions is high in small and medium enterprises owing to the cost benefits related to these solutions. Most large organizations are still using on-premises solutions as implementing new processes across large organizations and their networks is a complex task and requires changes in traditional work practices. However, with the increasing capabilities and benefits of cloud-based solutions in terms of technology integrations such as the Internet of Things (IoT), artificial intelligence (AI), blockchain, big data, and predictive analytics, the demand for these solutions is expected to grow at an impressive rate over the forecast period of 2024 to 2031. In addition to this, the large and fast-growing number of small and medium-sized enterprises (SMEs) across the world is projected to fuel the demand for cloud-based e-invoicing solutions. The growing popularity of cloud-based e-invoicing solutions and their benefits are expected to fuel their deployments at an impressive pace, especially among SMEs. Hence, the rising demand for cloud-based solutions is anticipated to offer ample growth opportunities for e-invoicing solution providers over the forecast period

 

South & Central America E-Invoicing Market Overview

 

The e-invoicing market in South America (SAM) is segmented into Brazil, Argentina, and the Rest of SAM. The Rest of SAM countries include Chile, Colombia, Guatemala, and Peru. SAM is one of the most advanced regions in terms of adoption and implementation of e-invoicing. E-invoicing has become prevalent in SAM countries to improve overall fiscal control and reduce high tax evasion rates. In countries such as Brazil, Chile, and Guatemala, e-invoicing is used for almost all economic and business transactions. The high adoption of e-invoicing in this region is a result of favorable legislation and government willingness to promote efficient invoicing solutions to plug loopholes that result in tax evasion by big taxpayers. The national and state tax authorities are increasingly using consolidated models coupled with technology integration and favorable legislation to enhance their fiscal models. These models are being increasingly adopted in countries such as Colombia and Costa Rica. In addition, the advantages, such as reduced costs, improved business management, prevention of tax fraud/evasion, and efficient monitoring of financial transactions, offered by e-invoicing drive its adoption in B2B, B2C, and B2G transactions in various SAM countries. Hence, the growth of the e-invoicing market in SAM is driven by public sector initiatives. For example, in August 2022, in Colombia, Dirección de Impuestos y Aduanas Nacionales (DIAN) published a Resolution extending the implementation deadline for electronic sales invoices and electronic equivalent documents by three months. This extension granted taxpayers more time to adapt to new obligations.

 

South & Central America E-Invoicing Market Revenue and Forecast to 2031 (US$ Million)

 

 

South & Central America E-Invoicing Market Segmentation

 

The South & Central America e-invoicing market is categorized into deployment, end user, application, type, and country.

Based on deployment, the South & Central America e-invoicing market is bifurcated into on-premise and cloud-based. The cloud-based segment held a larger market share in 2023.

 

In terms of end user, the South & Central America e-invoicing market is categorized into retail and e-commerce, government, IT and Telecom, BFSI, and others. The government segment held the largest market share in 2023.

In terms of application, the South & Central America e-invoicing market is categorized into B2B, B2C, and B2G. The B2B segment held the largest market share in 2023.

 

In terms of type, the South & Central America e-invoicing market is bifurcated into non-PO invoices and Po invoices. The non-PO invoices segment held a larger market share in 2023.

 

By country, the South & Central America e-invoicing market is segmented into the Brazil, Argentina, and the rest of South & Central America. Brazil dominated the South & Central America e-invoicing market share in 2023.

 

Sage Group Plc, Comarch SA, Nipendo Ltd, Basware Corporation, Coupa Software Inc, International Business Machines Corp, and SAP SE are some of the leading companies operating in the South & Central America e-invoicing market.

1.       Introduction

1.1      The Insight Partners Research Report Guidance

1.2      Market segmentation

2.        Executive Summary

2.1      Key Insights

2.2      Market Attractiveness

3.        Research Methodology

3.1      Coverage

3.2      Secondary Research

3.3      Primary Research

4.        E-Invoicing Market Landscape

4.1      Overview

4.2      Ecosystem Analysis

4.2.1       List of Vendors in the Value Chain:

5.        South & Central America E-Invoicing Market – Key Market Dynamics

5.1      Market Drivers

5.1.1       Digital Transformation Across Industries

5.1.2       Rise in E-Invoicing Related Compliance Requirements

5.1.3       Growth of E-Commerce Industry

5.2      Market Restraints

5.2.1       Challenges Related to Mass Adoption of E-Invoicing

5.3      Market Opportunities

5.3.1       Rise in Demand for Cloud-Based Solutions

5.3.2       Increased Support for Expansion of Small and Medium-Sized Enterprises

5.4      Future Trends

5.4.1       Integration of Blockchain in E-Invoicing

5.5      Impact of Drivers and Restraints:

6.        E-Invoicing Market – South & Central America Market Analysis

6.1      E-Invoicing Market Revenue (US$ Million), 2021–2031

6.2      E-Invoicing Market Forecast Analysis

7.        South & Central America E-Invoicing Market Analysis – by Deployment

7.1      On-Premise

7.1.1       Overview

7.1.2       On-Premise: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

7.2      Cloud-Based

7.2.1       Overview

7.2.2       Cloud-Based: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

8.        South & Central America E-Invoicing Market Analysis – by End user

8.1      Retail and E-Commerce

8.1.1       Overview

8.1.2       Retail and E-Commerce: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

8.2      Government

8.2.1       Overview

8.2.2       Government: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

8.3      IT and Telecom

8.3.1       Overview

8.3.2       IT and Telecom: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

8.4      BFSI

8.4.1       Overview

8.4.2       BFSI: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

8.5      Others

8.5.1       Overview

8.5.2       Others: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

9.        South & Central America E-Invoicing Market Analysis – by Application

9.1      B2B

9.1.1       Overview

9.1.2       B2B: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

9.2      B2C

9.2.1       Overview

9.2.2       B2C: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

9.3      B2G

9.3.1       Overview

9.3.2       B2G: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

10.      South & Central America E-Invoicing Market Analysis – by Type

10.1    Non-PO Invoices

10.1.1     Overview

10.1.2     Non-PO Invoices: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

10.2    PO Invoices

10.2.1     Overview

10.2.2     PO Invoices: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

11.      South & Central America E-Invoicing Market – Country Analysis

11.1     South & Central America E-Invoicing Market – Country Analysis

11.1.1     South and Central America: E-Invoicing Market – Revenue and Forecast Analysis – by Country

11.1.1.1       South and Central America: E-Invoicing Market – Revenue and Forecast Analysis – by Country

11.1.1.2       Brazil: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

11.1.1.2.1      Brazil: E-Invoicing Market Breakdown, by Deployment

11.1.1.2.2      Brazil: E-Invoicing Market Breakdown, by End user

11.1.1.2.3      Brazil: E-Invoicing Market Breakdown, by Application

11.1.1.2.4      Brazil: E-Invoicing Market Breakdown, by Type

11.1.1.3       Argentina: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

11.1.1.3.1      Argentina: E-Invoicing Market Breakdown, by Deployment

11.1.1.3.2      Argentina: E-Invoicing Market Breakdown, by End user

11.1.1.3.3      Argentina: E-Invoicing Market Breakdown, by Application

11.1.1.3.4      Argentina: E-Invoicing Market Breakdown, by Type

11.1.1.4       Rest of South and Central America: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

11.1.1.4.1      Rest of South and Central America: E-Invoicing Market Breakdown, by Deployment

11.1.1.4.2      Rest of South and Central America: E-Invoicing Market Breakdown, by End user

11.1.1.4.3      Rest of South and Central America: E-Invoicing Market Breakdown, by Application

11.1.1.4.4      Rest of South and Central America: E-Invoicing Market Breakdown, by Type

12.      Competitive Landscape

12.1    Heat Map Analysis by Key Players

12.2    Company Positioning & Concentration

13.      Industry Landscape

13.1    Overview

13.2    Market Initiative

13.3    New Product Development

14.      Company Profiles

14.1    Sage Group Plc

14.1.1     Key Facts

14.1.2     Business Description

14.1.3     Products and Services

14.1.4     Financial Overview

14.1.5     SWOT Analysis

14.1.6     Key Developments

14.2    Comarch SA

14.2.1     Key Facts

14.2.2     Business Description

14.2.3     Products and Services

14.2.4     Financial Overview

14.2.5     SWOT Analysis

14.2.6     Key Developments

14.3    Nipendo Ltd

14.3.1     Key Facts

14.3.2     Business Description

14.3.3     Products and Services

14.3.4     Financial Overview

14.3.5     SWOT Analysis

14.3.6     Key Developments

14.4    Basware Corporation

14.4.1     Key Facts

14.4.2     Business Description

14.4.3     Products and Services

14.4.4     Financial Overview

14.4.5     SWOT Analysis

14.4.6     Key Developments

14.5    Coupa Software Inc

14.5.1     Key Facts

14.5.2     Business Description

14.5.3     Products and Services

14.5.4     Financial Overview

14.5.5     SWOT Analysis

14.5.6     Key Developments

14.6    International Business Machines Corp

14.6.1     Key Facts

14.6.2     Business Description

14.6.3     Products and Services

14.6.4     Financial Overview

14.6.5     SWOT Analysis

14.6.6     Key Developments

14.7    SAP SE

14.7.1     Key Facts

14.7.2     Business Description

14.7.3     Products and Services

14.7.4     Financial Overview

14.7.5     SWOT Analysis

14.7.6     Key Developments

15.      Appendix

15.1    Glossary

15.2    About The Insight Partners

List of Tables

Table 1.          E-Invoicing Market Segmentation

Table 2.          E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Table 3.          E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million) – by Deployment

Table 4.          E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million) – by End user

Table 5.          E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million) – by Application

Table 6.          E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million) – by Type

Table 7.          South and Central America: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Country

Table 8.          Brazil: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Deployment

Table 9.          Brazil: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by End user

Table 10.        Brazil: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Application

Table 11.        Brazil: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 12.        Argentina: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Deployment

Table 13.        Argentina: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by End user

Table 14.        Argentina: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Application

Table 15.        Argentina: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 16.        Rest of South and Central America: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Deployment

Table 17.        Rest of South and Central America: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by End user

Table 18.        Rest of South and Central America: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Application

Table 19.        Rest of South and Central America: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Type

Table 20.        Heat Map Analysis by Key Players

 

List of Figures

Figure 1.         E-Invoicing Market Segmentation, by Country

Figure 2.         E-Invoicing Market – Ecosystem Analysis

Figure 3.         E-Invoicing Market – Key Market Dynamics

Figure 4.         Impact Analysis of Drivers and Restraints

Figure 5.         E-Invoicing Market Revenue (US$ Million), 2021–2031

Figure 6.         E-Invoicing Market Share (%) – by Deployment (2023 and 2031)

Figure 7.         On-Premise: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 8.         Cloud-Based: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 9.         E-Invoicing Market Share (%) – by End user (2023 and 2031)

Figure 10.      Retail and E-Commerce: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 11.      Government: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 12.      IT and Telecom: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 13.      BFSI: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 14.      Others: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 15.      E-Invoicing Market Share (%) – by Application (2023 and 2031)

Figure 16.      B2B: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 17.      B2C: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 18.      B2G: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 19.      E-Invoicing Market Share (%) – by Type (2023 and 2031)

Figure 20.      Non-PO Invoices: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 21.      PO Invoices: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)

Figure 22.      South and Central America: E-Invoicing Market, by Key Country– Revenue (2023) (US$ Million)

Figure 23.      South and Central America: E-Invoicing Market Breakdown, by Key Countries, 2023 and 2031 (%)

Figure 24.      Brazil: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million)

Figure 25.      Argentina: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million)

Figure 26.      Rest of South and Central America: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million)

Figure 27.      Company Positioning & Concentration

  1. Sage Group Plc
  2. Comarch SA
  3. Nipendo Ltd
  4. Coupa Software Inc
  5. International Business Machines Corp
  6. SAP SE
  7. Basware Corporation
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America E-Invoicing Market.    
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the South & Central America E-Invoicing Market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the South & Central America E-Invoicing Market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
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