USD 1.7 billion
Global Electronic Data Interchange (EDI) Software Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment(Cloud, On- Premises) - Industry Forecast 2024-2031
Report ID:
SQSG45E2015 |
Region:
Global |
Published Date: February, 2024
Pages:
220
|
Tables:
61 |
Figures:
75
Global Electronic Data Interchange (EDI) Software Market Insights
Electronic Data Interchange (EDI) Software Market size was valued at USD 1.7 billion in 2019 and is poised to grow from USD 1.9 billion in 2023 to USD 5.09 billion by 2031, growing at a CAGR of 11.6% in the forecast period (2024-2031).
TrueCommerce EDI, Boomi B2B EDI, Epicor EDI, and other programmes are among those that are included in the scope. The inclination of major enterprises for in-house processing, digital transformation, and process automation is the main factor driving the market's growth. Additionally, it is anticipated that throughout the projected period, the increasing acceptance of electronic data transactions across several sectors would fuel market expansion. To increase their position in the market, the leading software suppliers are concentrating on implementing a variety of marketing methods, such as joint ventures, mergers & acquisitions, and others. For example, in October 2019, Epicor Software Corporation bought 1 EDI Source, Inc., one of the top suppliers of business visibility software and solutions. The purpose is to provide a variety of software solutions for data communication to Epicor's existing and new customers.
The COVID-19 pandemic had a large effect on the market in 2019 and 2021. The electronic data interchange method is only one of several corporate operations across all industries that have suffered. In the midst of the pandemic, businesses in the retail, logistics, manufacturing, and healthcare sectors saw significant adjustments in their business models and approaches to customer service. The need for Electronic Data Interchange (EDI) software is expected to increase due to the major changes and increased demand for supply chain procedures that are more seamless. To provide lifelong access to the data, the retail, healthcare, and other industrial sectors have begun using cloud-based data interchange software. Government agencies and organisations throughout the world are concentrating on enlisting recovery measures for the impact of COVID-19. The use of contactless digital payment methods like quick response (QR) codes, near-field communications (NFC), facial recognition, and others helped various countries deal with the COVID-19 crisis in April 2020, according to the World Economic Forum (WEF). This accelerated the use of electronic paperless transactions. Numerous businesses are choosing cutting-edge contact-less technologies to stop the coronavirus from spreading. For instance, a cross-platform logistics-as-a-service was introduced in January 2022 by Microsoft Corporation and FedEx Corporation. This platform connects with several order management programmes, including enterprise resource planning, electronic data interchange, and other ordering channels, as well as online e-commerce platforms. In order to provide a productive client experience in the upcoming years, it is expected that the need for Electronic Data Interchange (EDI) software would increase dramatically.
US Electronic Data Interchange (EDI) Software Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Services
Fastest Growth
Services
Growth Rate
11.6% CAGR
Country Share for North America Region (%)
Country Share for Europe Region (%)
Global Electronic Data Interchange (EDI) Software Market By Component ($ Bn)
Global Electronic Data Interchange (EDI) Software Market By Component (%)
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Global Electronic Data Interchange (EDI) Software Market Segmental Analysis
Global Electronic Data Interchange Software Market is segmented based on the component, deployment, and region. Based on the component, the Electronic Data Interchange Software Market is segmented as software, services. Based on the deployment, the Electronic Data Interchange Software Market is segmented as cloud, on-premises. Based on region, the is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Electronic Data Interchange (EDI) Software Market Analysis by Component
By component, the global market is divided into software and services. During the projection period, software is anticipated to obtain the most market share. The use of software to improve ordering management processes is being driven by the rising digitization occurring across all sectors. Software for data analysis, user experience, and seamless communication is also being used by growing industries including e-commerce, retail, supply chain, and more. During the anticipated time, the services are probably going to see considerable expansion. It is anticipated that the rising demand for software would increase the need for managed services to ensure an appropriate and continuous flow of applications.
Electronic Data Interchange (EDI) Software Market Analysis by Deployment
On-premises and cloud deployments are separated into categories. The cloud-based kind is among them and is anticipated to expand at a faster rate in the years to come. It is forecast to hold a sizeable chunk of the market share. This is a result of its features, which give businesses unprecedented flexibility and the capacity to reduce operating expenses and time-intensive tasks by enhancing agility and scalability. Companies are increasingly adopting cloud-based systems, particularly those that have a significant presence across many locations or are preparing for rapid development. Through these platforms, users may easily connect with clients, partners, and other companies. Additionally, the cloud computing features minimise the need for installation and configuration time by enabling quick supply of any programme or application. The on-premises market is projected to expand significantly. Enterprises may be able to keep some amount of control using on-premises data sharing systems.
Healthcare, automotive, financial services, manufacturing, retail, logistics, and other sectors make up the industry. During the projection period, a larger market share is anticipated for the logistics sector. This is due to the emergence of new technology in logistics services, such as automated scheduling, delivery consolidation from several shippers, and carrier-based data analytics. Data interchange solutions are being used more often in the retail industry since they promote global data synchronisation and simplify Direct Store Delivery (DSD) processes. The use of Electronic Data Interchange (EDI) software in the financial services sector is driven by the rising need for digital payment systems.
Global Electronic Data Interchange (EDI) Software Market By Component, 2023 (%)
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Global Electronic Data Interchange (EDI) Software Market Regional Insights
The scope of the global electronic data interchange software market is divided into five geographic areas: North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2021, North America is anticipated to account for the largest revenue share, with a market of US$ 958.9 million. The demand for data exchange solutions in the area is rising as a result of the region's developing industrial, healthcare, retail, and automobile sectors. Due to an increase in digital business-to-business transactions, the U.S. is predicted to increase its share the most throughout the projection period. For instance, Yamato Transport U.S.A., Inc. declared the use of EDI for its logistics systems in December 2021. Over the projection period, the Asia Pacific is anticipated to see exponential growth. The expansion is due to improved supply chain efficiency between retailers and suppliers as well as the expansion of the e-commerce market, particularly in emerging nations like China and India. Additionally, it is anticipated that increased industrial facilities and government activities in this area would boost business demand for EDI software. Because there are many producers of data exchange solutions and tools, Europe is predicted to develop at a rapid CAGR. To regulate and comply with electronic data exchange activities, the European United Nations has also created ISO 9735, a standard for electronic data transmission.
Global Electronic Data Interchange (EDI) Software Market By Region, 2024-2031
- Largest
- Fastest
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Global Electronic Data Interchange (EDI) Software Market Dynamics
Electronic Data Interchange (EDI) Software Market Driver
- Growing Small & Medium Business Adoption to Fuel EDI Software Market Growth
- Small and medium-sized businesses can benefit from the Electronic Data Interchange (EDI) software by automating a number of routine business operations, such as exchanging invoices, orders, and advanced shipment alerts. A completely integrated, end-to-end, automated EDI solution is produced by using the inventory software solution to handle the numerous solutions. By enabling completely automated transaction processing, this dramatically boosts the productivity, efficiency, and profitability of small and medium-sized enterprises while expanding the global market. By providing online suggestions, the programme helps small businesses to increase customer happiness and brand loyalty. Additionally, by effectively and profitably addressing the needs for technical and business connections, it enables small businesses to interact with major businesses globally. According to data provided by Global Standard One (GS1), the U.K. grocery industry saved almost USD 470 million in 2019 by utilising digital solutions. The platform facilitated quicker deliveries, payments, and invoices while also enhancing the visibility of commodities across the supply chain.
Electronic Data Interchange (EDI) Software Market Restraint
- Application Programming Interface (API) Threat as a Replacement to Suppress Market Growth
- With the use of computers and electronic data interchange technologies, business partners may exchange simple business documents in a variety of common electronic forms. Similar operations, including sending orders, invoicing, and other similar activities, may be carried out via API, serving as a replacement for the conventional data exchange systems. APIs are often synchronous, have lower payloads, and are quicker, more adaptable, and more affordable than electronic data. REST (Representational state transfer), a systematic architectural style that is simple for developers to adapt as necessary, is coupled with an API. Additionally, it provides a secure data exchange service, which makes it possible to order lost merchandise or trace down data.
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Global Electronic Data Interchange (EDI) Software Market Competitive Landscape
Global Electronic Data Interchange Software Market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability.
Top Players in the Global Electronic Data Interchange Software Market
- IBM Corporation
- SPS Commerce, Inc.
- Cleo Communications
- DiCentral Corporation
- TrueCommerce Inc.
- MuleSoft, LLC (Salesforce.com, Inc.)
- OpenText Corporation
- EDICOM
- Software AG
- Babelway
- Boomi (Dell Technologies Inc.)
- Descartes Systems Group Inc.
- RSSBus
- Liaison Technologies Inc.
- TIE Kinetix N.V.
- Comarch SA
- CovalentWorks Corp.
- Axway Inc.
- Data Masons Software, LLC
- ECGrid, LLC
Electronic Data Interchange (EDI) Software Market Recent Developments
In July 2021, IBC Industrial Supply Plus, Inc. and Epicor Software Corporation have partnered to offer solutions from both companies, such as customer relationship management, electronic data interchange, and inventory management.
In April 2020, with an emphasis on API & EDI connectivity, Data Communications Solutions (DCS) and Cleo have established a partnership to assist businesses in modernising their B2B operations. For clients that have chosen the "Cleo Integration Cloud" platform to update the integration solutions, DCS will provide managed services, support, and installation, according to the collaboration.
Global Electronic Data Interchange (EDI) Software Key Market Trends
- Using Cutting-Edge Technologies to Accelerate Market Expansion
- Businesses may now take advantage of a new route for data exchange thanks to the integration of cutting-edge technology into EDI systems. Data interchange transactions are essential to business-to-business (B2B) and business-to-consumer (B2C) activities at both small and large organisations because they allow for greater integration of SMEs with larger businesses. The Internet of Things (IoT), blockchain technology, and artificial intelligence (AI), among other technical advancements, will determine how the retail supply chain functions in the future.
- The following are the main advantages provided by sophisticated B2B integration and automation solutions: automates the conventional manual electronic data process to save time and money, increases accuracy and productivity while increasing efficiency automates the data preparation process to reduce mistakes enhances reporting and traceability to assist data gathering, visibility, and analysis supports satisfying client experiences by delivering trustworthy goods and services. As a result, the installation of digital technologies made possible by AI and IoT is improving the data exchange process and is projected to accelerate the growth of the Electronic Data Interchange (EDI) software market.
Global Electronic Data Interchange (EDI) Software Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Electronic Data Interchange Software Market Analysis, research report offers a thorough overview of the industry and focuses on important factors including the top players, sources, products, and applications. The research also identifies significant advancements in the industry and provides insights into market trends and the competitive environment. The study includes a number of aspects, in addition to those already mentioned, that have assisted in the market's expansion in recent years.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.7 billion |
| Market size value in 2031 | USD 5.09 billion |
| Growth Rate | 11.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Electronic Data Interchange (EDI) Software Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Electronic Data Interchange (EDI) Software Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Electronic Data Interchange (EDI) Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Electronic Data Interchange (EDI) Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Electronic Data Interchange (EDI) Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Electronic Data Interchange (EDI) Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Electronic Data Interchange (EDI) Software Market Report Snapshots
- Global Electronic Data Interchange (EDI) Software Companies
- Global Electronic Data Interchange (EDI) Software Market Size
- Global Electronic Data Interchange (EDI) Software Market Analysis
- Global Electronic Data Interchange (EDI) Software Geographic Analysis
- Global Electronic Data Interchange (EDI) Software Market News
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