The Electronic Data Interchange (EDI) Software Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Electronic Data Interchange (EDI) Software Global Market Report 2024, The electronic data interchange (edi) software market size has grown rapidly in recent years. It will grow from $2.06 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to automation of business processes, efficient order processing, supply chain optimization, compliance with industry standards, globalization of business, edi as a competitive advantage.
The electronic data interchange (edi) software market size is expected to see rapid growth in the next few years. It will grow to $3.53 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to focus on data security, regulatory compliance requirements, demand for real-time information, enhanced analytics and reporting, increasing adoption in small and medium enterprises, focus on user-friendly interfaces.. Major trends in the forecast period include integration with erp systems, blockchain integration for enhanced security, mobile accessibility, ai and machine learning in data mapping and translation, supplier collaboration platforms, global expansion and multi-language support, green edi practices.
The increasing adoption of automation solutions in business processes is driving the electronic data interchange (EDI) software market. Automation solutions in business processes comprise using software applications to automate repeatable business activities and services. Electronic data interchange (EDI) software is an automated solution used for B2B to transfer business documents between business partners, such as suppliers or customers. EDI technology automates a process that was previously manually handled with paper documents, saving time and money for businesses. For instance, according to Selecthub, an IT technology company, 59% to 85% of companies adopt EDI technology in the supply chain industry. Similarly, in 2022, according to Quixy, an IT software company, 31% of business leaders agreed that automation software reduces labor costs and felt that automating tasks will save them 360 hours per year. Thus, the increasing adoption of automation solutions in business processes is driving the electronic data interchange (EDI) software market.
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The electronic data interchange (edi) software market covered in this report is segmented –
1) By Component: Software, Services
2) By Type: On-Premise, Cloud Based
3) By Application: Small and Medium-Sized Enterprises, Large Enterprises
4) By Industry: Automotive, Banking, Financial Services and Insurance, Telecommunication and Information Technology, Retail and Consumer Goods, Manufacturing, Healthcare, Logistics, Other Industry
Major companies operating in the electronic data interchange (EDI) software market are launching new platforms such as the web-based Electronic Data Interchange (EDI) platform to enhance claims delivery processes. This platform facilitates seamless data transmission from medical health facilities. For instance, in September 2022, Smart Applications International (U) Ltd, a Kenya-based ICT solutions provider, partnered with Sanlam Life Insurance Ltd and jointly launched a web-based Electronic Data Interchange (EDI) platform, aiming to streamline data transmission from medical health facilities to Sanlam. The EDI platform is designed to enhance claims delivery processes in the medical insurance sector, promoting completeness in Electronic Claims Delivery, reducing Claims Rejections, improving Claim Processing Status Visibility, supporting paperless processes, and offering enhanced reporting through analytics dashboards.
The electronic data interchange (edi) software market report table of contents includes:
1. Executive Summary
2. Electronic Data Interchange (EDI) Software Market Characteristics
3. Electronic Data Interchange (EDI) Software Market Trends And Strategies
4. Electronic Data Interchange (EDI) Software Market – Macro Economic Scenario
5. Global Electronic Data Interchange (EDI) Software Market Size and Growth
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26. South America Electronic Data Interchange (EDI) Software Market
27. Brazil Electronic Data Interchange (EDI) Software Market
28. Middle East Electronic Data Interchange (EDI) Software Market
29. Africa Electronic Data Interchange (EDI) Software Market
30. Electronic Data Interchange (EDI) Software Market Competitive
Top Major Players:
- Boomi Inc
- SPS Commerce Inc
- MuleSoft LLC
- TrueCommerce Inc
- Rocket Software In
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