The global electronic bill presentment and payment market are expected to grow at a significant rate of around 7% during the forecast period. Electronic bill presentment and payment (EBPP) is a process that enables billers to create, and present invoices online to their customers. The extensive use of the EBPP services in bill payments, fund transfer through net banking of various purchases, and mobile & DTH recharge is attributed to the market growth of electronic bill presentment and payment. Furthermore, the growing adoption of e-commerce, and strong logistics and digital infrastructure led to an increase in the number of people purchasing goods online resulting in the market growth of electronic bill presentment and payment. For instance, almost 96% of Americans have made at least one online purchase in their life.
ACI Worldwide Inc., Bottomline Technologies Inc., Communications Data Group Inc., CSG Systems International Inc., CyberSource Corporation, ebpSource Limited, eBillingHub, Enterprise jBilling Software Ltd., Fiserv Inc., and FIS are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst channel, mobile category to witness higher CAGR during the forecast period”
Based on the channel, the market has been categorized into mobile, email, web, and others. Among these, the mobile segment has a significant share in the electronic bill presentment and payment market. The introduction of various wallet applications provides the user more convenient, fast, and reliable platform for the transaction. Furthermore, the integration of the banking system with mobile systems is also an important factor for the segmental growth of mobiles in the EBPP market.
“Amongst end-user, the BFSI to hold a significant share in the market in 2020”
Based on the end user, the market has been categorized into BFSI, IT & telecom, government, energy & utilities, and others. Among these, BFSI has a considerable share in the electronic bill presentment and payment market. The rapidly rising banking industry due to the increasing number of online transactions is one of the important factors for the growth of the BFSI segment. Furthermore, with the adoption of digital payments and the use of technologies such as artificial intelligence and machine learning the banks and financial services are also responsible for the growing consumer base and BFSI sector.
“APAC to hold a significant share in the market”
For a better understanding of the market adoption of the electronic bill presentment and payment industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. In 2020, APAC held a significant share of the global electronic bill presentment and payment market. The higher investment in the IT sector and financial sectors along with the presence of increasing online transactions in the region are important factors for the growth of the market in the Asia Pacific. For instance, in 2022, in India, UPI recorded over 30 billion transactions worth USD 190 billion so far. The next target for UPI is to process a billion transactions a day in the next 3-5 years.
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The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
The study comprehensively covers the market across different segments.
Deep dive regional level analysis of the industry.
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Research Methodology for the Electronic Bill Presentment and Payment Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global electronic bill presentment and payment market were the three major steps undertaken to create and analyze the adoption of electronic bill presentment and payment in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global electronic bill presentment and payment market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the electronic bill presentment and payment market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Electronic Bill Presentment and Payment market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as channel and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the electronic bill presentment and payment market. Further, we conducted factor analysis using dependent and independent variables such as component and end-user of electronic bill presentment and payment. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the electronic bill presentment and payment market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global electronic bill presentment and payment market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
The industry’s market size, in terms of revenue (USD) and the adoption rate of s market across the major markets domestically
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players in the global electronic bill presentment and payment market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global electronic bill presentment and payment market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of channel and end-users in the global electronic bill presentment and payment market.
The main objective of the Global Electronic Bill Presentment and Payment Market Study
The current & future market trends of the global electronic bill presentment and payment market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Analyze the current and forecast market size of the electronic bill presentment and payment market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
Segments in the study include areas of channel and end-users.
Define and analysis of the regulatory framework for the electronic bill presentment and payment industry.
Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
Analyze the current and forecast market size of the electronic bill presentment and payment market for the major region.
Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
Company profiles of the electronic bill presentment and payment market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry
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