What is the global market size of Electronic Data Interchange (EDI) Software Market?

Electronic Data Interchange (EDI) Software Market size was valued at USD 1.7 billion in 2021 and is poised to grow from USD 1.9 billion in 2022 to USD 5.09 billion by 2030, growing at a CAGR of 11.6% in the forecast period (2023-2030).

Electronic Data Interchange Software Market

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 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.

Global Electronic Data Interchange (EDI) Software Market Report Snapshots

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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).

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. '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'

Growing Small & Medium Business Adoption to Fuel EDI Software Market Growth

Using Cutting-Edge Technologies to Accelerate Market Expansion

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.

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Global Electronic Data Interchange (EDI) Software Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment(Cloud, On- Premises) - Industry Forecast 2024-2031

Global Electronic Data Interchange (EDI) Software Market Dynamics

Global Electronic Data Interchange (EDI) Software Market Report Snapshots

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