Middle East & Africa E-Invoicing Market Forecast to 2031
Middle East & Africa E-Invoicing Market Forecast to 2031 – Regional Analysis- by Deployment (Cloud-Based and On-Premise), End User (Retail and E-Commerce, Government, IT and Telecom, BFSI, and Others), Application (B2B, B2C, and B2G), and Type (Non-PO Invoices and PO Invoices)
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Description
Growth of E-Commerce Industry Bolsters Middle East & Africa E-Invoicing Market
The increase in consumer disposable income and changes in their lifestyles and purchasing patterns are a few factors contributing to the increased purchasing of goods and products from online platforms. Consumers prefer to shop online as it offers a selection from a wide range of products and saves time and money compared to brick-and-mortar stores. In addition, the increasing penetration of the internet and smartphones is boosting customers’ preference for online shopping, fueling the growth of the e-commerce industry. In addition, per the International Trade Administration (ITA), the global B2C e-commerce revenue is expected to grow to US$ 5.5 trillion by 2027 at a steady 14.4% compound annual growth rate between 2017 and 2027.
With the growth of the e-commerce industry, the volume of transactions, e-commerce operators, and the introduction of new market players in the market is also growing, generating the demand for e-invoicing solutions for efficient and error-free operations across the supply chain. In addition, the government mandates over e-invoicing in the e-commerce industry play a significant role in the growth of the e-voicing market. For instance, if the annual turnover of the e-commerce organization is above US$ 1.22 million (INR 10 crores), then it is mandatory that the organization register the e-invoice under GST on the Invoice Registration Portal and generate an IRN. E-invoicing market players such as Basware and IRIS Business Services Ltd. provide e-invoicing solutions for the e-commerce industry. E-invoice solutions provide faster and more efficient processing of input tax credits and faster online invoice issuance; they are less prone to errors than manual records; analytics and automated reports allow a bird’s eye view of the invoices; and they save time using the streamlined billing method. All these benefits provided by e-invoice solutions for e-commerce platforms fuel the market growth in the e-commerce industry.
Middle East & Africa E-Invoicing Market Overview
The Middle East & Africa (MEA) market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. Governments and tax authorities are encouraging organizations to adopt e-invoicing across the globe. Tax becomes an integral part of day-to-day finance and commercial operations, which is the key reason that more countries across the Middle East mandate e-invoicing. However, the majority of African countries are in the early phase of implementing e-invoicing. Urge to improve efficiency in large & gigantic companies the demand for e-invoicing is rising. South Africa has framed regulations for e-invoicing in their jurisdiction. However, in B2B transactions, e-invoicing is not mandatory in South Africa. In the Middle East, a few countries, such as Saudi Arabia, have taken steps to make electronic invoicing mandatory. The country has shown a high interest in executing Continuous Transaction Controls (CTC), which includes mandatory electronic invoicing.
The UAE is another country that is making use of e-invoicing in B2B transactions to make it more accurate and faster. In the UAE, the implementation of e-invoicing is governed by Federal Law No. (1) of 2006 On Electronic Commerce and Transactions. The UAE-based companies are looking forward to introducing e-invoicing through a network of supply chain partners to meet legal requirements levied by the UAE legislative bodies. Oman, Kuwait, and Libya are a few countries that have no regulations for e-invoicing in their jurisdiction. UAE has been taking several steps to promote the commercialization of electronic invoicing in the country. The Commercial Bank of Dubai launched its distinct e-invoicing solution that enables straight-through processing of an invoice presentment and payment initiation by enabling billers to submit the invoice to payers via a single online channel. The Arab Gulf state of United Arab Emirates (UAE) Ministry of Finance and Federal Tax Authority provided further details of its plans to mandate e-invoicing from July 2026. This stated instance will at first cover B2B and B2G transactions, with B2C to follow at a later date.
Middle East & Africa E-Invoicing Market Revenue and Forecast to 2031 (US$ Million)
Middle East & Africa E-Invoicing Market Segmentation
The Middle East & Africa e-invoicing market is categorized into deployment, end user, application, type, and country.
Based on deployment, the Middle East & Africa e-invoicing market is bifurcated into on-premise and cloud-based. The cloud-based segment held a larger market share in 2023.
In terms of end user, the Middle East & Africa e-invoicing market is categorized into retail and e-commerce, government, IT and Telecom, BFSI, and others. The government segment held the largest market share in 2023.
In terms of application, the Middle East & Africa e-invoicing market is categorized into B2B, B2C, and B2G. The B2G segment held the largest market share in 2023.
In terms of type, the Middle East & Africa e-invoicing market is bifurcated into non-PO invoices and Po invoices. The non-PO invoices segment held a larger market share in 2023.
By country, the Middle East & Africa e-invoicing market is segmented into the South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa e-invoicing market share in 2023.
Cegedim SA, Sage Group Plc, Comarch SA, Nipendo Ltd, Coupa Software Inc, International Business Machines Corp, and SAP SE are some of the leading companies operating in the Middle East & Africa e-invoicing market.
Summary Info
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According to the Research Team’ research, the Middle East & Africa e-invoicing market was valued at US$ 568.78 million in 2023 and is expected to reach US$ 2,087.30 million by 2031, registering a CAGR of 17.6% from 2023 to 2031. Digital transformation across industries and rise in e-invoicing related compliance requirements are among the critical factors attributed to drive the Middle East & Africa e-invoicing market growth.
Digital technologies are transforming industries worldwide and revolutionizing business processes for enhanced operational efficiency and reduced costs. Both large and small enterprises are investing in various digital technologies such as web apps, cloud computing, artificial intelligence, the Internet of Things, predictive analytics, and big data. Digital transformation and process automation have the potential to create unparalleled opportunities for businesses to create more value and increase revenue.
Invoicing is a major function in all business segments, including B2B, B2C, and B2G which requires a substantial number of resources in terms of manpower, time, and equipment. There are billions of invoices being generated across the globe on a daily basis, and only a fraction of this is in the form of electronic e-invoices. Hence, there is a huge potential for the e-invoicing market to grow in the coming years. The present manual and paper-based invoice generation process results in human errors and reduces the overall productivity of a business. With the adoption of e-invoicing, businesses can save substantial costs related to generating and sending invoices to end customers. The automation of the invoicing process through e-invoicing will result in various strategic and operational benefits for buyers, suppliers, and managers. These benefits include reduced costs, increased accuracy, faster payments, enhanced productivity, environmental benefits, improved cash management, and improved compliance.
On the flip side, challenges related to mass adoption of e-invoicing hamper the growth of Middle East & Africa E-Invoicing Market.
Based on deployment, the Middle East & Africa e-invoicing market is bifurcated into on-premise and cloud-based. The cloud-based segment held 55.9% market share in 2023, amassing US$ 317.95 million. It is projected to garner US$ 1,193.78 million by 2031 to register 18.0% CAGR during 2023-2031.
In terms of end user, the Middle East & Africa e-invoicing market is segmented into retail and E-commerce, government, IT and Telecom, BFSI, and others. The government segment held 31.6% share of Middle East & Africa e-invoicing market in 2023, amassing US$ 179.85 million. It is anticipated to garner US$ 618.95 million by 2031 to expand at 16.7% CAGR during 2023-2031.
In terms of application, the Middle East & Africa e-invoicing market is segmented into B2B, B2C, and B2G. The B2G segment held 53.3% share of Middle East & Africa e-invoicing market in 2023, amassing US$ 303.06 million. It is anticipated to garner US$ 1,098.54 million by 2031 to expand at 17.5% CAGR during 2023-2031.
In terms of type, the Middle East & Africa e-invoicing market is bifurcated into non-PO invoices and PO invoices. The non-PO invoices segment held 72.6% share of Middle East & Africa e-invoicing market in 2023, amassing US$ 412.77 million. It is anticipated to garner US$ 1,549.17 million by 2031 to expand at 18.0% CAGR during 2023-2031.
Based on country, the Middle East & Africa e-invoicing market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 28.9% share of Middle East & Africa e-invoicing market in 2023. It was assessed at US$ 164.52 million in 2023 and is likely to hit US$ 549.53 million by 2031, registering a CAGR of 16.3% during 2023-2031.
Key players operating in the Middle East & Africa e-invoicing market are Cegedim SA, Sage Group Plc, Comarch SA, Nipendo Ltd, Coupa Software Inc, International Business Machines Corp, and SAP SE, among others.
In May 2021, Coupa Software, one of the leaders in business spend management (BSM), announced that it has become an official member of the E-Invoice Promotion Association (EIPA), an organization to develops, demonstrates, and promotes standard specifications of electronic invoices.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa E-Invoicing Market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the Middle East & Africa E-Invoicing Market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The the Reporting Teams Research Report Guidance
1.2 Market segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. E-Invoicing Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain:
5. Middle East & Africa E-Invoicing Market -Key Market Dynamics
5.1 Market Drivers
5.1.1 Digital Transformation Across Industries
5.1.2 Rise in E-Invoicing Related Compliance Requirements
5.1.3 Growth of E-Commerce Industry
5.2 Market Restraints
5.2.1 Challenges Related to Mass Adoption of E-Invoicing
5.3 Market Opportunities
5.3.1 Rise in Demand for Cloud-Based Solutions
5.3.2 Increased Support for Expansion of Small and Medium-Sized Enterprises
5.4 Future Trends
5.4.1 Integration of Blockchain in E-Invoicing
5.5 Impact of Drivers and Restraints:
6. E-Invoicing Market – Middle East & Africa Market Analysis
6.1 E-Invoicing Market Revenue (US$ Million), 2021-2031
6.2 E-Invoicing Market Forecast Analysis
7. Middle East & Africa E-Invoicing Market Analysis – by Deployment
7.1 On-Premise
7.1.1 Overview
7.1.2 On-Premise: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Cloud-Based
7.2.1 Overview
7.2.2 Cloud-Based: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
8. Middle East & Africa E-Invoicing Market Analysis – by End user
8.1 Retail and E-Commerce
8.1.1 Overview
8.1.2 Retail and E-Commerce: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Government
8.2.1 Overview
8.2.2 Government: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
8.3 IT and Telecom
8.3.1 Overview
8.3.2 IT and Telecom: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
8.4 BFSI
8.4.1 Overview
8.4.2 BFSI: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
9. Middle East & Africa E-Invoicing Market Analysis – by Application
9.1 B2B
9.1.1 Overview
9.1.2 B2B: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
9.2 B2C
9.2.1 Overview
9.2.2 B2C: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
9.3 B2G
9.3.1 Overview
9.3.2 B2G: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
10. Middle East & Africa E-Invoicing Market Analysis – by Type
10.1 Non-PO Invoices
10.1.1 Overview
10.1.2 Non-PO Invoices: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
10.2 PO Invoices
10.2.1 Overview
10.2.2 PO Invoices: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
11. Middle East & Africa E-Invoicing Market – Country Analysis
11.1.1 Middle East & Africa: E-Invoicing Market – Revenue and Forecast Analysis – by Country
11.1.1.1 Middle East & Africa: E-Invoicing Market – Revenue and Forecast Analysis – by Country
11.1.1.2 South Africa: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
11.1.1.2.1 South Africa: E-Invoicing Market Breakdown, by Deployment
11.1.1.2.2 South Africa: E-Invoicing Market Breakdown, by End user
11.1.1.2.3 South Africa: E-Invoicing Market Breakdown, by Application
11.1.1.2.4 South Africa: E-Invoicing Market Breakdown, by Type
11.1.1.3 Saudi Arabia: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
11.1.1.3.1 Saudi Arabia: E-Invoicing Market Breakdown, by Deployment
11.1.1.3.2 Saudi Arabia: E-Invoicing Market Breakdown, by End user
11.1.1.3.3 Saudi Arabia: E-Invoicing Market Breakdown, by Application
11.1.1.3.4 Saudi Arabia: E-Invoicing Market Breakdown, by Type
11.1.1.4 United Arab Emirates: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
11.1.1.4.1 United Arab Emirates: E-Invoicing Market Breakdown, by Deployment
11.1.1.4.2 United Arab Emirates: E-Invoicing Market Breakdown, by End user
11.1.1.4.3 United Arab Emirates: E-Invoicing Market Breakdown, by Application
11.1.1.4.4 United Arab Emirates: E-Invoicing Market Breakdown, by Type
11.1.1.5 Rest of Middle East & Africa: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
11.1.1.5.1 Rest of Middle East & Africa: E-Invoicing Market Breakdown, by Deployment
11.1.1.5.2 Rest of Middle East & Africa: E-Invoicing Market Breakdown, by End user
11.1.1.5.3 Rest of Middle East & Africa: E-Invoicing Market Breakdown, by Application
11.1.1.5.4 Rest of Middle East & Africa: E-Invoicing Market Breakdown, by Type
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 New Product Development
14. Company Profiles
14.1 Cegedim SA
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Sage Group Plc
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Comarch SA
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Nipendo Ltd
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Coupa Software Inc
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 International Business Machines Corp
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 SAP SE
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
15. Appendix
15.1 Glossary
15.2 About The the Reporting Teams
Table 1. E-Invoicing Market segmentation
Table 2. E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Table 3. E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million) – by Deployment
Table 4. E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million) – by End user
Table 5. E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 6. E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 7. Middle East & Africa: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 8. South Africa: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
Table 9. South Africa: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by End user
Table 10. South Africa: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 11. South Africa: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 12. Saudi Arabia: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
Table 13. Saudi Arabia: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by End user
Table 14. Saudi Arabia: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 15. Saudi Arabia: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 16. United Arab Emirates: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
Table 17. United Arab Emirates: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by End user
Table 18. United Arab Emirates: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 19. United Arab Emirates: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 20. Rest of Middle East & Africa: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
Table 21. Rest of Middle East & Africa: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by End user
Table 22. Rest of Middle East & Africa: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Application
Table 23. Rest of Middle East & Africa: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 24. Heat Map Analysis by Key Players
Figure 1. E-Invoicing Market segmentation, by Country
Figure 2. E-Invoicing Market – Ecosystem Analysis
Figure 3. E-Invoicing Market – Key Market Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. E-Invoicing Market Revenue (US$ Million), 2021-2031
Figure 6. E-Invoicing Market Share (%) – by Deployment (2023 and 2031)
Figure 7. On-Premise: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Cloud-Based: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. E-Invoicing Market Share (%) – by End user (2023 and 2031)
Figure 10. Retail and E-Commerce: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Government: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. IT and Telecom: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. BFSI: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Others: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. E-Invoicing Market Share (%) – by Application (2023 and 2031)
Figure 16. B2B: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. B2C: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. B2G: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. E-Invoicing Market Share (%) – by Type (2023 and 2031)
Figure 20. Non-PO Invoices: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. PO Invoices: E-Invoicing Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Middle East & Africa: E-Invoicing Market, by Key Country – Revenue (2023) (US$ Million)
Figure 23. Middle East & Africa: E-Invoicing Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 24. South Africa: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million)
Figure 25. Saudi Arabia: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million)
Figure 26. United Arab Emirates: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million)
Figure 27. Rest of Middle East & Africa: E-Invoicing Market – Revenue and Forecast to 2031(US$ Million)
Figure 28. Company Positioning & Concentration
The List of Companies – Middle East & Africa E-Invoicing Market
1. Cegedim SA
2. Sage Group Plc
3. Comarch SA
4. Nipendo Ltd
5. Coupa Software Inc
6. International Business Machines Corp
7. SAP SE
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