Electronic Data Interchange (EDI) Software Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Electronic Data Interchange Software Market
The Electronic Data Interchange Software Market size was valued at USD 1.78 billion in 2022, and the market is now projected to grow from USD 1.98 billion in 2023 to USD 4.52 billion by 2030, exhibiting a CAGR of 12.5% during the forecast period of 2024-2034.
During 2020-2021 world has seen huge decline in the market and people’s life due to the COVID-19, where multiple business functions were affected, including Electronic Data Interchange Software Market Growth. Various industries such as retail, logistics, manufacturing, and healthcare saw drastic operational changes. However, post pandemic when lockdown measures were taken ease, supply chain processes were again back on track and boosting the demand for EDI software, and with healthcare, retail and other sectors, this sector is also shifting towards the cloud-based data exchange software, opting for lifetime data access. Governments were also taking necessary steps for the post-COVID-19 era, and according to the report of World Economic Forum (WEF), contactless digital payment such as QR codes, facial recognition, and Near-Field Communications (NFC) have increased the paperless transaction choices and prevent virus spreading.
Small or Medium organisations, every businesses are getting support from Electronic Data Interchange (EDI) software and allowing them to automate various transactions with other companies, such as exchanging invoices, order, and shipping notices, not just these but this inventory software solution is helping them on managing multiple functions, making a fully integrated and automated EDI solutions. These features are boosting up the productivity, efficiency, and profitability for smaller businesses, creating a fully automated transaction processing, leading to market expansion and rise in Electronic Data Interchange Software Market Share. By keeping its focus on customer satisfaction, this software is creating brand loyalty for small businesses and giving seamless transactions for large global organisations , with keep on addressing technical and business connection requirements, that speeds up transactions, delivery, payment, and invoicing, while improving supply chain visibility.
The revolutionary change for the businesses is the incorporation of advanced technologies in EDI software systems, for data interchange and benefits, and key benefits for this change are, time & cost savings by offering process automation, enhanced efficiency and accuracy, minimise errors in data formatting, improved traceability and reporting, and quality customer experienced with reliable service delivery. The digital turn has given a vision to businesses that the future of retail supply is relying upon various innovation such as IoT, blockchain, and AI, and these digital advancements are tends to be the driver for the growth of EDI software market.
Comprehensive Analysis of Electronic Data Interchange Software Market
The Electronic Data Interchange Software Market and Information & Communication Technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the technological benefit management industry. These segmentations are methodically segregated By Deployment Analysis, and By Industry Analysis. The types of deployment include, Cloud, & On-premises; and the type industry includes, Healthcare, Automotive, Financial Services, Manufacturing, Retail, Logistics, & Others (Telecom).
North America is securing its dominating position in data interchange software market by reaching the market size of USD 1.00 billion, in 2022. The region is witnessing growth in manufacturing, healthcare, automobile, and retail sectors, and during the forecast period, the U.S. is turn out to be most dominating due to the rise in digital business-to-business transactions. Let us take an example of Yamato Transport U.S.A., Inc. In December 2021, it introduced new product in the market named, ‘EDI’ into its logistic systems to boost the Electronic Data Interchange Software Market Share.
The top players in the market play a crucial role in the Information & Communication Technology industry assuring industrial prospectus growth and setting market standards. These players include,Boomi Inc. (Dell Boomi) (U.S.), SPS Commerce, Inc. (U.S.), Software AG (Germany), MuleSoft LLC (U.S.), Epicor Software Corporation (U.S.), TrueCommerce Inc. (U.S.), Rocket Software, Inc. (U.S.), Open Text Corporation (Canada), Babelway (Belgium), Comarch SA (Poland), these market players provide a level-playing competitive landscape.
December 2022 – For seamless supply chai processes, T-systems and SEEBURGER came together as a partner and deliver an innovative Electronic Data Interchanges Solution named MEDIS+ (Managed Electronic Data Interchange Services).
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Unit Value (USD billion)
Growth Rate CAGR of 12.5% from 2023 to 2030
Segmentation By Deployment, Industry, and Geography
By Deployment Cloud
On-premises
By Industry Healthcare
Automotive
Financial Services
Manufacturing
Retail
Logistics
Others (Telecom)
By Region North America (By Deployment, By Industry, and By Country)
- U.S. (By Industry)
- Canada (By Industry)
- Mexico (By Industry)
Europe (By Deployment, By Industry, and By Country)
- U.K. (By Industry)
- Germany (By Industry)
- France (By Industry)
- Italy (By Industry)
- Spain (By Industry)
- Russia (By Industry)
- Benelux (By Industry)
- Nordics (By Industry)
- Rest of Europe
Asia Pacific (By Deployment, By Industry, and By Country)
- China (By Industry)
- Japan (By Industry)
- India (By Industry)
- South Korea (By Industry)
- ASEAN (By Industry)
- Oceania (By Industry)
- Rest of Asia Pacific
Middle East & Africa (By Deployment, By Industry, and By Country)
- Turkey (By Industry)
- Israel (By Industry)
- GCC (By Industry)
- North Africa (By Industry)
- South Africa (By Industry)
- Rest of Middle East & Africa
South America (By Deployment, By Industry, and By Country)
- Brazil (By Industry)
- Argentina (By Industry)
- Rest of South America
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