E-invoicing market in Europe to grow at a CAGR of 12 percent until 2018

According to a report by RNR Market Research, one of the major trends in the market is the increasing demand from the public sector. The public sector constitutes nearly 10% of the total invoices issued. However, most all of these invoices are paper invoices. Thus, there is tremendous saving potential in many European countries.

Moreover, increasing demand from different public sectors such as healthcare, logistics, electricity and the water board is driving the market.

Healthcare is considered an early adopter of e-invoicing technology and it is known for investing heavily in IT. Additionally, government bodies such as the electricity board are growing at a higher rate and are expected to increase their market share in the near future.

Finally, the report highlights that a key market challenge is represented by data security concerns.