Publication Month: Jun 2020 | Report Code: TIPRE00006160 | No. of Pages: 166 | Category: Technology, Media and Telecommunications | Status: Published
Electronic data interchange (EDI) is a process of transaction of business documents basically standard electronic format between the organization and trade partners. For instance, some of the common materials that are interchanged with the help of EDI are invoices, purchase orders, and advance ship notices. But, there are numerous other documents, namely: customs documents, bill of lading, inventory documents, payment documents, and shipping status documents, among others. EDI allows organizations to regulate the exchange of data between supply chain applications. EDI helps the organization and guarantees about the business-critical data to be sent on time. The EDI replaced traditional business communication with mail preparation and handling automatically. Though, 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, which is one of the significant factors that drive 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. However, the disadvantage of electronic data interchange (EDI) comprises of high implementation cost with the time-consuming deployment of the solutions.
The market for EDI is segmented into components, type, industry, and geography. On the basis of components, the market is bifurcated into solutions and services. In 2019, the solution segment held the largest share of the global EDI market, and it is also anticipated to be the fastest-growing segment throughout the forecast period. Based on industry, the EDI market is divided into BFSI, Retail and Consumer Goods, Healthcare, IT and Telecommunication, Transportation and Logistics, and Others. The other segment includes the government, energy, and manufacturing industries. In 2019, retail and consumer goods held the largest share of the global EDI market. Geographically, the EDI market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).
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An electronic data interchange (EDI) document comprises a minimum amount of vital data to ensure smooth EDI transaction. The organizations have to adhere to stringent EDI formatting rules as these help in retrieving the relevant information from the document. The EDI document comprises dozens of transaction numbers from the EDI public format. For instance, the purchase order (PO) is assigned to the invoice transaction number is 810, and the EDI transaction number 850. Thus, the EDI translator obtains an EDI 850 PO document that easily recognizes the order number, items in the order, the company name of the buyer, and the price per item. An efficient EDI transaction enhances the overall data exchange process with seamless automation of B2B workflows, as well as effective integration of the external and internal systems, cloud ecosystems, and applications.
Different types of components used in electronic data interchange (EDI)s are Solutions, and Services through which the organizations are exchanging there data with trading partners. There are diversified EDI solutions present in the market; a few are as follows: Web EDI, Integrated EDI, Outsourcing EDI, EDI B2B Portal, EDI B2C Portal, EDI Managed Services, and EDI Documents Storage.
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Different types in electronic data interchange (EDI) solutions present in the market are Direct EDI, EDI via AS2, EDI via VAN, Mobile EDI, Web EDI, EDI outsourcing, and Others. Direct EDI, also known as Point-to-Point EDI,is used as an alternative to a value added network (VAN). EDI via AS2 necessitates the organization to have the receiving server used for “listening out” the messages addressed to it.
An electronic data interchange (EDI) is an based on the industry, is segmented into BFSI, Retail and consumer goods, healthcare, IT and telecommunication, transportation and logistics, and others.
|Market Size Value in||US$ 24640.Million in 2019|
|Market Size Value by||US$ 49213.1 Million by 2027|
|Growth rate||CAGR of 9.5% from 2020-2027|
|No. of Pages||166|
|No. of Tables||86|
|No. of Charts & Figures||88|
|Historical data available||Yes|
|Segments covered||Component ; Type ; Industry|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
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Players operating in the Electronic data interchange (EDI) market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the electronic data interchange (EDI) market. A few developments by key players of the electronic data interchange (EDI) market are:
2020: Cleo and C&A partnered to develop digital ecosystems. The businesses through this partnership which depend on SAP ERP and JD Edwards will be entitled to extend their reach to those applications via cloud-based B2B/EDI integration technology.
2020: Data Mason announced the expansion of its EDI cloud Strategy, this expansion benefits organizations with compliant and quick EDI implementation, accelerated digital transformation, as well as lower deployment costs.
The List of Companies - Electronic Data Interchange (EDI) Market