The advancements in digital invoicing solutions through various technologies like cloud, artificial intelligence (AI), Internet of Things (IoT) and predictive analytics tools is anticipated to be an opportunity for the France E-invoicing Market growth.
The France E-invoicing market size is expected to reach close to USD 4,315.9 million by 2028 registering a stellar CAGR of 18% over the forecast years 2021-2028. The electronically generated exchange document to establish the transaction between two parties comprising suppliers and buyers is known as e-invoicing. The e-invoicing enables transparent monitoring and tracking of the transactions to ensure adherence to transaction conditions.
E-invoices are usually triggered by the entities through any device such as laptop, mobile phone, or desktop. For example, purchase orders, debit and credit notes, or remittance vouchers. An e-invoicing document is an electronically generated document to establish the business activities between business. The document is the evidence of financial transactions in exchange of the services and solutions traded between the businesses. The purpose of e-invoice is to facilitate digitally prepared business-to-business (B2B) invoices in and authenticate it by the by the Goods and Services Tax Network (GSTN). For example, tax invoice is also classed under e-invoice.
The future and existing France E-invoicing market is progressive. Key influencing factors such as growth in e-commerce industry is a positive outlook for the market opportunities over the forecast years. Moreover, other key reasons driving growth of market are cost-effectiveness, reduction in mistakes, increased transparency, and improved business relationships. Also, e-invoice software system when coupled with technologies like AI, analytics, and other advanced tools offers around thrice the total return on investments is boosting the France E-invoicing market growth. However, security risks, bookkeeping issues, and spam are likely to hamper the market growth. Furthermore, the advancement of support for dynamic and highly secure systems is anticipated to be an opportunity for the France E-invoicing market.
Adroit Market Research report on the France E-invoicing does independent research and analysis of the market from 2021 to 2028. The report presents conclusions of one year study from 2019 to 2020 on the developments in the e-invoicing space. It is intended to provide diplomats and interested members of the market with a better understanding of the technological developments, issues concerning the developments. The state of the market including drivers, obstacles, and further opportunities is discussed in the report. The main findings and current state of the market determined with the help of Porter’s Five Forces Model. Their performance in the current operating environment is measured by collecting data from authentic sources. The main obstacles deterring the market growth including technological, institutional resistance, legal, normative, and economic limits are discussed in the report.
The France E-invoicing market is comprised of fierce competition amongst well-established and new market players. Also, the France E-invoicing market players are pursuing potential markets in France to seize a competitive position in the industry and forming mergers & acquisitions, agreements, acquiring other companies & launching new products, establishing collaboration & partnerships, and accelerating their business performance.
On the basis of type segment, the France E-invoicing market is split in two segments namely On Premise and On-Cloud. The Cloud Based segment in the year 2020 gathered the considerable share and is likely to witness a good position in the next few years. The aforementioned advantages coupled with fundamental benefits like convenient tracking of business transactions and cost savings is expected to increase the market value for France E-invoicing market in the forecasted period.
Paris is estimated to gather measurable shares in the France E-invoicing market. Significant growth in the e-commerce industry and establishment of new retail, financial, and IT & telecommunication firms in Paris are the key factors influencing the growth of E-invoicing market in Paris. Also, the other factors including the adoption of blockchain technology to ensure security of the documents, along with digitalization of payment systems are anticipated to drive the E-invoicing market in Paris. However, Nice & Cannes held the maximum share in 2020 and is projected to remain dominant in the forecasted years.
The major players of the France E-invoicing MArket are Andersen, Toulouse, Amaris, PYCOGroup, Kernix, LAYOUTindex, AppCraft, BLACKBOXSECU, Adplorer, and Pentalog. The France E-invoicing market comprises well established and local players. Additionally, the new market players are coming up with advanced solutions and services offering the customers and to stay dominant in the France market. Moreover, the governments worldwide are promoting electronic billing models. In regards to the same, the government support initiatives are allowing more businesses to develop technologically advanced and safe e-invoicing systems.
Key Segments of the France E-Invoicing Market
Type Overview, 2021-2028 (USD Million)
- On Premise
- Cloud Based
Application Overview, 2021-2028 (USD Million)
- Energy & Utilities
Regional Overview, 2021-2028 (USD Million)