As per the report by Fortune Business Insights, the global Electronic Data Interchange (EDI) Software Market size is projected to reach USD 4.04 billion in 2029, at CAGR of 11.6% during forecast period.
Pune, India, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Worldwide EDI Market growth is attributable to the increasing inclination of large enterprises towards in-house processing to accelerate process automation and digital transformation. Heightened adoption of electronic data transactions across industry verticals will create a favourable outlook for the market, says Fortune Business Insights in its report titled, “Electronic Data Interchange Software Market Share, 2022-2029”. The Global EDI software market value is anticipated to increase from USD 1.88 billion in 2022 to USD 4.04 billion by 2029 at a CAGR of 11.6% during the forecast duration, the global EDI software market size reached USD 1.70 billion in 2021.
Widespread Digital Shift during Pandemic to Benefit Market Outlook
Since COVID-19, heavy adoption of cloud-based data solutions has been observed across key industries including healthcare, retail, and manufacturing. Digital solutions such as Near-Field Communication (NFC), Quick Response (QR) codes, and facial recognition have helped several countries tackle pandemic-related challenges. Consequently, Electronic Data Interchange (EDI) software experienced positive demand during the COVID-19 pandemic.
Electronic Data Interchange Software Market Size in 2021
USD 1.70 billion
Historical Data for
2018-2020
No. of Pages
140
Regional Insights-
North American EDI Software Market was Valued at USD 958.9 Million in 2021
North America is expected to dominate the worldwide Electronic Data Interchange (EDI) software market share through 2029. In 2021, the regional market stood at USD 958.9 million. Regional trends will be influenced by rising adoption across retail, healthcare, automotive, and manufacturing.
The EDI Market in Asia Pacific is expanding owing to the rise of ecommerce in India, China, and other nations. Increasing supply chain efficiencies between suppliers and retailers will also benefit the regional outlook. Meanwhile, the European market will expand on account of supportive regulations promoting the adoption of EDI software.
Drivers & Restraints-
Increased Adoption among Small & Medium Businesses to Strengthen Market Outlook
EDI Market growth is driven by rising adoption among Small and Medium Businesses (SMBs). The software aids SMBs in automating frequent transactions with other companies, such as orders, exchanging invoices, and shipping notices. SMBs can leverage EDI software to derive greater efficiencies, productivity, and profitability. The market could witness even higher adoption among small and medium enterprises in the future.
However, availability of alternatives such as Application Programming Interface (API) could hamper the market demand to some extent.
Market Segmentation-
Based on the component, the market share is bifurcated into software and services.
By deployment, the market share is divided into on-premises and cloud.
According to industry, the market share is segregated into automotive, healthcare, retail, manufacturing, financial services, and logistics.
In terms of geography, the EDI market share is segmented into North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
Segments:
By Component
Software
Services
By Deployment
Cloud
On-premises
By Industry
Healthcare
Automotive
Financial Services
Manufacturing
Retail
Logistics
Others (Telecom, etc.)
Quick Buy - Electronic Data Interchange (EDI) Software Market:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into the regional developments.
List of major industry players.
Key strategies adopted by the market players.
Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Competitive Landscape-
Leading Market Players Emphasize Product Innovation to Expand Market Presence
Leading providers of EDI solutions such as Dell Boomi, MuleSoft LLC, and SPS Commerce, Inc., are upgrading their product lines to cater to the burgeoning demand from various end-users and strengthen their market position. Recent years have witnessed the launch of advanced EDI systems integrated with machine learning, IoT, cloud, and blockchain.
Notable Industry Development-
August 2021 – Rocket Software, Inc. unveiled Rocket® EDX - an EDI cloud-based managed services platform. The solution provides secured interactions, on-demand outsourcing, business intelligence insights, and more.
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