$32 Billion Predicted for E-Statement and EBPP Market by 2005
Xenos Group, an e-commerce document presentment software company, announced the results of research and analysis it recently commissioned Killen & Associates of Palo Alto, Calif., to provide on its target electronic statement and electronic bill presentment and payment (EBPP) market.
The Killen study shows that the total size of this market in North America will increase from $2.5 billion in 1998 to $31.7 billion in 2005. The electronic statement segment is emerging as one of the fastest-growing components of this market, increasing from $500 million in 1998 to $8.2 billion by 2005. It is estimated that e-statement issuers (banks, brokerage houses, utilities, etc.) will spend $3.3 billion of that on software -- $1.8 billion on applications alone.
"The e-statement market in North America is emerging as one of the fastest growing presentment markets, with average annual growth rates ranging to almost 50 percent through 2005," says Michael Killen, President of Killen & Associates.
The Killen study indicates that the number of statements presented electronically worldwide will increase at an average annual growth rate of 65 percent -- from 1.8 billion in 1998 to 59 billion in 2005, when it is expected that a cumulative share of 70 percent of all statements will be presented electronically (instead of on paper).
For more information, visit www.xenosgroup.com.