Japan E-Invoicing Market Overview 2023-2028
The Japan E-invoicing market size reached US$ 209.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 759.9 Million by 2028, exhibiting a growth rate (CAGR) of 23.18% during 2023-2028.
E-invoicing, or electronic invoicing, is the process of generating, sending, and receiving invoices in an electronic format. It replaces traditional paper invoicing and ensures that billing information is transmitted securely and efficiently. It facilitates the billing process by enabling the sender to issue invoices electronically and the recipient to make payments through secure online platforms. It allows for better organization and storage of invoices. It helps in complying with tax regulations by providing accurate and timely documentation. It also reduces costs associated with printing, mailing, and processing paper invoices. Furthermore, as it minimizes human errors that may occur in manual invoicing, the demand for e-invoicing is rising in Japan.
Japan E-Invoicing Market Trends and Drivers:
At present, the increasing digital transformation of business operations allowing organizations to streamline their processes and reduce manual errors represents one of the crucial factors strengthening the market growth in Japan. Besides this, the rising adoption of e-invoicing solutions to comply with tax and auditing requirements is supporting the growth of the market. In addition, the growing demand for real-time transaction processing and visibility into financial data is offering a favorable market outlook in Japan. Apart from this, the increasing integration of artificial intelligence (AI) and machine learning (ML) in e-invoicing systems to enhance efficiency, detection of fraud, and personalization of services is contributing to the growth of the market in Japan.
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The report segmented the market on the basis of region, channel, deployment type and application.
Breakup by Channel:
- B2B
- B2C
- Others
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Application:
- Energy and Utilities
- FMCG
- E-Commerce
- BFSI
- Government
- Others
Breakup by Region:
- Kanto Region
- Kinki Region
- Central/ Chubu Region
- Kyushu-Okinawa Region
- Tohoku Region
- Chugoku Region
- Hokkaido Region
- Shikoku Region
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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