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E-invoicing market to grow during 2020-2024, report

Friday 11 September 2020 13:00 CET | News

Tech research company Technavio has released a report concerning the e-invoicing market and it is poised to grow by USD 6.93 billion during 2020-2024, progressing at a CAGR of over 19%.

The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. 

This study identifies the need to adhere to regulatory guidelines and ensure compliance as one of the prime reasons driving the e-invoicing market growth during the next few years. The market is concentrated, and the degree of concentration will accelerate during the forecast period. The accessibility of mobile payment systems will offer growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Keywords: e-invoicing, technology research, Technavio, invoicing, CAGR, trends, covid-19, pandemic, outbreak, industries, mobile payments, e-invoicing market, market vendors
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech