A key factor driving the growth of the market is the convenience and easy accessibility of mobile payment systems. Mobile commerce simplifies banking, commercial transactions, and bill payments through mobile applications. However, mobile commerce payments require e-billing/e-invoicing in banking, telecommunications, and e-commerce sectors. Mobile commerce vendors are partnering with telecommunication service providers to offer payment services as a built-in function which is further driving the market.
This market research report on the global e-invoicing market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights increased security of documents using blockchain as one of the key emerging trends in the global e-invoicing market:
Global e-invoicing market: Increased security of documents using blockchain
E-billing allows storage of all e-invoices which can be assessed when required. Blockchain is technology which helps to keep the data intact and only authorized personnel can access these data, thereby increasing the security for confidential data. Blockchain is also a cost-effective database management solution for e-invoices. Every transaction in a blockchain is linked with the relevant database and secured with the help of cryptography.
“The blockchain technology market is estimated to grow significantly during the forecast period and this growth can be attributed to the combination of blockchain components with technologies like tracking of shipments, which has several applications in e-invoicing. Also, this technology will be adopted in regions like North America, parts of Europe, and APAC,” says a senior analyst at Technavio for research on enterprise application.
Global e-invoicing market: Segmentation analysis
This market research report segments the global e-invoicing market by end-user (B2B and B2C) and geographical regions (APAC, EMEA, and the Americas).
In 2017, the B2B segment dominated the e-invoicing market with a market share of 63%. Most of the large enterprises practice e-billing/e-invoicing. Although e-invoicing requires high initial investments, it ensures a secure billing process.
EMEA led the market in 2017 with over 58% of the market share, followed by the Americas and APAC respectively. Although APAC held the smallest share of the market, the region is expected to witness a significant increase in its market share over the forecast period while EMEA and the Americas will see a decline in their market shares.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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