$4550
[Research Report] The electronic data interchange (EDI) market is expected to grow from US$ 27.93 billion in 2022 to US$ 58.98 billion by 2030; it is estimated to register a CAGR of 9.8% from 2022 to 2030.
Electronic Data Interchange (EDI) Market Analyst Perspective:
The rising digital transformation and acceptance of EDI solutions for data transaction trends across industries, rising EDI-related compliance requirements, and favorable government initiatives to boost EDI solution adoption are some of the critical factors driving the growth of the EDI market. However, there are a few issues/concerns related to EDI solutions, which may restrain frequent adoption of these solutions in the coming years. Despite some limitations, the growing demand for cloud-based solutions and the adoption of advanced technologies such as blockchain are anticipated to fuel the electronic data interchange (EDI) market growth during the forecast period.
The EDI system helps to reduce data entry needs and maximize strategic, scalable, sustainable communication with trading partners. In August 2016, PLEXIS Healthcare Systems launched an Ignite EDI system. The Ignite EDI system simplifies electronic data management to reduce data entry needs and maximize strategic, scalable, sustainable communication with trading partners. The Ignite EDI hub is powered by four smart, foundational building blocks: the EDI gateway, portal technologies, the Atlas engine, and EDI exploration services.
For instance, some common materials that are interchanged with the help of EDI are Electronic Data Interchange (EDI) Market Overview:
Electronic data interchange (EDI) is a process of transaction of business documents, basically standard electronic format between the organization and trade partners invoices, purchase orders, and advance ship notices. But there are several other documents, such as customs, payment, inventory, bills of lading, and shipping status documents. EDI empowers organizations to regulate the exchange of data between supply chain applications. EDI helps the organization and guarantees the business-critical data to be sent on time. The EDI replaced traditional business communication with mail preparation and handling automatically. However, it helps the organizations to standardize the information interchanged via business documents, which makes it a paperless exchange. The EDI solutions permit organizations to enhance the overall workflow performance, a significant factor driving the global EDI market during the forecast period. The fast and accurate processing of EDI documents leads to less repeated work, fewer canceled orders, and fewer stock-outs.
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Electronic Data Interchange (EDI) Market: Strategic Insights
Market Size Value in US$ 27.93 billion in 2022 Market Size Value by US$ 58.98 billion by 2030 Growth rate CAGR of 9.8% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Electronic Data Interchange (EDI) Market: Strategic Insights
| Market Size Value in | US$ 27.93 billion in 2022 |
| Market Size Value by | US$ 58.98 billion by 2030 |
| Growth rate | CAGR of 9.8% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Electronic Data Interchange (EDI) Market Driver:
Rising Digital Transformation Across Industries Fuel Growth of Electronic Data Interchange (EDI) Market
Large and small enterprises are continuously investing in cloud computing, EDI solutions, web apps, artificial intelligence, predictive analytics, the Internet of Things, and big data, as digital technologies are constantly transforming industries across the globe and revolutionizing business processes by improving operational efficiency at reduced costs. The rising adoption of cloud computing is one of the substantial factors for deploying EDI technology and service consumption models. Organizations are diverting their focus on applications, data, connections, and cloud integration, including EDI. Although cloud computing has grown exponentially, there is a shortage of well-trained IT professionals. Process automation and digital transformation can create unparalleled opportunities for businesses to create more value and increase revenue. Invoicing is a considerable function in all business segments, including B2B and B2C, which require a substantial cost, time, and workforce. Along with paper-based invoices, a large number of e-invoices are generated daily, thereby reducing the overall productivity cost of the business. The rising adoption of e-invoicing helps businesses save substantial costs associated with invoicing generation and transmission to end customers.
Automating the invoicing process through e-invoicing offers several strategic and operational benefits to buyers, suppliers, and managers. A few advantages of EDI solutions include reduced costs, increased accuracy, faster payments, improved cash management, enhanced productivity, environmental benefits, and improved compliance. Thus, the rising adoption of innovative and digitalized solutions, such as EDI, drives global electronic data interchange (EDI) market growth.
Shippers communicate with ship carriers and other transportation-related stakeholders through EDI technology. Instead of physically inputting information onto paper forms, shipping businesses may transfer information electronically through EDI. EDI also benefits organizations in terms of time and money savings. By utilizing EDI, shippers may automate billing, tracking shipments, and payment collection. EDI can also maintain inventories and handle client orders in the shipping sector. By removing mistakes and decreasing human data entry, EDI helps processes run more smoothly. Since there is less need for human interaction, processing paperwork takes less time. Various countries are deploying the EDI in their shipping port. For instance, in December 2021, Japan provided US$ 12.2 million to construct a Port EDI system in Cambodia to speed up administrative and business work at all ports. According to Heang Sotheayuth, IT specialist at the Ministry of Public Works, the EDI on the shipping port will help to ease legal procedures for cargo ships at all ports in Japan. Such development propels the electronic data interchange (EDI) market growth in the shipping industry.
Report Segmentation and Scope:
The electronic data interchange (EDI) market is segmented based on component, type, industry, and geography. Based on component, the electronic data interchange (EDI) market is bifurcated into solutions and services. Based on type, the electronic data interchange (EDI) market is segmented into direct EDI, EDI via AS2, EDI via VAN, mobile EDI, web EDI, EDI outsourcing, and others. Based on industry, the electronic data interchange (EDI) market is divided into BFSI, Retail & Consumer Goods, Healthcare, IT & Telecommunication, Transportation & Logistics, and Others. Geographically, the electronic data interchange (EDI) market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
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Electronic Data Interchange (EDI) Market Segmental Analysis:
Based on component, the electronic data interchange (EDI) market is bifurcated into:
- Solution
- Services
The solution segment held a larger electronic data interchange (EDI) market share in 2022 and is anticipated to register a higher CAGR in the market during 2022–2030. These solutions can meet the growing needs of its clients, exceptional borders, and technical specifications, restructuring the receiving and sending of commercial transactions for all kinds of businesses. These solutions are deployed in a broad range of large and small to mid-sized enterprises for interchanging commercial documents between businesses in a multitude of sectors across the globe.
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Electronic Data Interchange (EDI) Market Regional Analysis:
The electronic data interchange (EDI) market is broadly segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). North America holds the largest electronic data interchange (EDI) market share owing to the widespread penetration of electronic data interchange (EDI) transaction mandates across organizations in countries such as the US, Canada, and Mexico. North America is one of the most advanced regions in terms of implementation and adoption of EDI solutions.
In North America, various EDI system providers are expanding their businesses. In October 2019, Epicor Software Corporation acquired 1 EDI Source Inc., a leading EDI solutions and business visibility software provider. Adding 1 EDI Source to the Epicor Software Corporation product portfolio provides a single comprehensive EDI platform, allowing customers to choose the best option to fit their business needs. Business expansion strategies propel the adoption of EDI systems in the region.
Key Player Analysis:
Mulesoft, LLC; SPS Commerce, Inc.; TrueCommerce Inc.; IBM Corporation; Cleo; The Descartes Systems Group Inc.; Data Masons Software LLC; crossinx GmbH; EDICOM; Comarch SA; and InterTrade Systems, Inc. are the key electronic data interchange (EDI) market players profiled in the report.
Recent Developments:
The electronic data interchange (EDI) market players highly adopt inorganic and organic strategies. A few recent key market developments are listed below:
- In 2022, Cleo announced deeper integrations between the Cleo Integration Cloud (CIC) platform and Microsoft Dynamics 365 ERP. The Cleo solution enables organizations to connect their Dynamics 365 Supply chain solutions through the X12 EDI integration. It will allow an organization to reduce the complexity of supporting their EDI network and seamlessly integrate it into their Dynamics application.
- In 2020, Data Communications Solutions (DCS) and Cleo partnered to help enterprises remodel their B2B steps by focusing on EDI and API integration, majorly for ERP systems.
- In 2020, Data Mason announced the expansion of its EDI cloud Strategy. This expansion benefits organizations with compliant and quick EDI implementation, accelerated digital transformation, and lower deployment costs.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Type, Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
1. The increasing adoption of EDI transactions and standards
2. Rising digital transformation across industries
The rising adoption of EDI solution with blockchain technology are the major future trends for the global electronic data interchange (EDI) market.
The electronic data interchange (EDI) market is expected to reach US$ 58. 98 billion by 2030.
The incremental growth, expected to be recorded for the electronic data interchange (EDI) market during the forecast period, is US$ 31.05 billion.
The key players, holding majority shares, in electronic data interchange (EDI) market includes SPS Commerce Inc, International Business Machines Corp, Boomi Inc, Cleo, and Mulesoft LLC.
The global electronic data interchange (EDI) market was estimated to be USD 27.93 billion in 2022 and is expected to grow at a CAGR of 9.8 %, during the forecast period 2022 - 2030.
The solutions segment led the electronic data interchange (EDI) market with a significant share in 2022 and it is also expected to grow with the highest CAGR.
APAC is anticipated to grow with the highest CAGR over the forecast period.
The List of Companies - Electronic Data Interchange (EDI) Market
- Mulesoft, LLC
- Optum Inc
- Pacific Commerce
- SPS Commerce, Inc.
- TrueCommerce Inc.
- Cerner Corp
- International Business Machines Corp
- Boomi, Inc.
- GoAnywhere MFT
- Cleo
- The Descartes Systems Group Inc.
- Crossinx GmbH
- EDICOM
- Comarch SA
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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