The Electronic Data Interchange (EDI) Software Market Size was estimated at USD 1.78 billion in 2022 and is expected to increase by USD 1.98 billion in 2023 to USD 4.52 billion by 2030, exhibiting a CAGR of 12.5% over the forecast period.
Software used for Electronic Data Interchange (EDI) is included in the scope, and examples include Boomi B2B EDI, TrueCommerce EDI, Epicor EDI, and others. Large organizations' increasing preference for in-house processing, digital transformation, and process automation is the main factor driving the market's expansion. Additionally, the growing acceptance of electronic data transactions across a range of industries is anticipated to fuel market expansion over the course of the forecast period. To increase their market share in the software for electronic data interchange, the major software providers are concentrating on implementing a variety of marketing strategies, such as joint ventures, mergers acquisitions, and others.
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Information about the report:
- Forecast Timeframe: 2023-2030
- The starting year is 2022
- Market Size in 2012 - USD 1.78 billion
- The market size in 2030 will be USD 4.52 billion
- CAGR - 12.5%
- Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Electronic Data Interchange (EDI) Software Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The total amount of money that service providers make from offering their products to customers is referred to as the market size. Market share is the portion of the market that a single provider or a group of providers controls. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Electronic Data Interchange (EDI) Software Market are conducted across regions, end-user industries, and material types. The study includes a thorough examination of segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.
By Deployment Analysis,
The market is divided into on-premises and cloud deployments.
Among these, it is estimated that the cloud segment has a sizeable market share and will expand more quickly in the years to come. This is because it has the ability to give businesses newfound flexibility while also enhancing scalability and agility, which can reduce operational costs and save time. Cloud-based platforms are becoming more widely used by businesses, particularly by those with extensive global presence or ambitious expansion plans.
With the help of the software, small businesses can increase customer satisfaction and brand loyalty by providing online recommendations. Additionally, by effectively and productively addressing the needs for technical and business connections, it enables small businesses to interact with large businesses globally. The software facilitated quicker deliveries, payments, and invoices while also enhancing the visibility of goods throughout the supply chain.
By Industry Analysis,
Healthcare, financial services, automotive, retail, manufacturing, logistics, and other industries are divided up into separate market segments.
During the forecast period, the logistics segment is anticipated to hold a larger market share. This is because new technologies in logistics services, such as carrier-based data analytics, delivery consolidation from various shippers, and automated scheduling, have been introduced. As they promote global data synchronization and simplify the Direct Store Delivery (DSD) processes, data interchange solutions are being implemented more frequently in the retail industry.
By Key Industry Analysis,
Major players like Dell Boomi, SPS Commerce, Inc., MuleSoft LLC, and other companies are actively enhancing their market positions by updating their current product lines to support a variety of end-use applications. These major players are currently fusing EDI systems with cutting-edge technologies like the Internet of Things (IoT), machine learning (ML), blockchain, cloud computing, and others to improve their product offerings and provide better solutions. In addition, the major market participants are concentrating on the development and expansion of current solutions in terms of technological advancement and fusion.
The market is fragmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific.
In 2022, North America is anticipated to account for the largest revenue share, with a market worth USD $1 billion. The demand for data interchange solutions in the region is rising as a result of the expanding manufacturing, healthcare, automotive, and retail sectors. Due to an increase in digital business-to-business transactions, the U.S. is predicted to increase its share the most during the forecast period. For instance, Yamato Transport U.S.A., Inc. announced in December 2021 that it would be implementing EDI for its logistics systems. This is expected to boost the Electronic Data Interchange software market share.
The study report provides a thorough analysis of the “Electronic Data Interchange (EDI) Software Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The Electronic Data Interchange (EDI) Software Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Electronic Data Interchange (EDI) Software Market industry will be able to gain the upper hand by using the study as a valuable resource.
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