Pune, India, April 26, 2022 (GLOBE NEWSWIRE) -- The global EDI software market size reached USD 1.70 billion in 2021. The market value is anticipated to increase from USD 1.88 billion in 2022 to USD 4.04 billion by 2029 at a CAGR of 11.6% during the forecast duration. Market growth is attributable to the increasing inclination of large enterprises towards in-house processing to accelerate process automation and digital transformation. Heightened adoption of electronic data transactions across industry verticals will create a favorable outlook for the market, says Fortune Business InsightsTM in its report titled, “Electronic Data Interchange Software Market Share, 2022-2029”.
Notable Industry Development-
August 2021 – Rocket Software, Inc. unveiled Rocket® EDX - an EDI cloud-based managed services platform. The solution provides secured interactions, on-demand outsourcing, business intelligence insights, and more.
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Report Scope:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 11.6% |
| 2029 Value Projection | USD 4.04 billion |
| Base Year | 2021 |
| Electronic Data Interchange Software Market Size in 2021 | USD 1.70 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 140 |
| Segments covered | Component, Deployment, Industry, and Geography |
| Growth Drivers | Threat of API as a Substitute to Inhibit EDI Market Growth |
| North American EDI Software Market was Valued at USD 958.9 Million in 2021 |
Drivers & Restraints-
Increased Adoption among Small & Medium Businesses to Strengthen Market Outlook
EDI Market growth is driven by rising adoption among Small and Medium Businesses (SMBs). The software aids SMBs in automating frequent transactions with other companies, such as orders, exchanging invoices, and shipping notices. SMBs can leverage EDI software to derive greater efficiencies, productivity, and profitability. The market could witness even higher adoption among small and medium enterprises in the future.
However, availability of alternatives such as Application Programming Interface (API) could hamper the market demand to some extent.
To get to know more about the short-term and long-term impact of COVID-19 on this EDI market,
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Regional Insights-
North American EDI Software Market was Valued at USD 958.9 Million in 2021
North America is expected to dominate the worldwide Electronic Data Interchange (EDI) software market share through 2029. In 2021, the regional market stood at USD 958.9 million. Regional trends will be influenced by rising adoption across retail, healthcare, automotive, and manufacturing.
The EDI Market in Asia Pacific is expanding owing to the rise of ecommerce in India, China, and other nations. Increasing supply chain efficiencies between suppliers and retailers will also benefit the regional outlook. Meanwhile, the European market will expand on account of supportive regulations promoting the adoption of EDI software.
Segmentation-
Based on the component, the market share is bifurcated into software and services.
By deployment, the market share is divided into on-premises and cloud.
According to industry, the market share is segregated into automotive, healthcare, retail, manufacturing, financial services, and logistics.
In terms of geography, the EDI market share is segmented into North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
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COVID-19 Impact-
Widespread Digital Shift during Pandemic to Benefit Market Outlook
Since COVID-19, heavy adoption of cloud-based data solutions has been observed across key industries including healthcare, retail, and manufacturing. Digital solutions such as Near-Field Communication (NFC), Quick Response (QR) codes, and facial recognition have helped several countries tackle pandemic-related challenges. Consequently, Electronic Data Interchange (EDI) software experienced positive demand during the COVID-19 pandemic.
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Competitive Landscape-
Leading Market Players Emphasize Product Innovation to Expand Market Presence
Leading providers of EDI solutions such as Dell Boomi, MuleSoft LLC, and SPS Commerce, Inc., are upgrading their product lines to cater to the burgeoning demand from various end-users and strengthen their market position. Recent years have witnessed the launch of advanced EDI systems integrated with machine learning, IoT, cloud, and blockchain.
Companies Profiled in EDI Market Report:
- Boomi Inc. (Dell Boomi) (U.S.)
- SPS Commerce, Inc. (U.S.)
- Software AG (Germany)
- MuleSoft LLC (U.S.)
- Epicor Software Corporation (U.S.)
- TrueCommerce Inc. (U.S.)
- Rocket Software, Inc. (U.S.)
- Open Text Corporation (Canada)
- Babelway (Belgium)
- Comarch SA (Poland)
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Major Points of Table:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- EDI Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Electronic Data Interchange (EDI) Key Players Market Share Insights and Analysis, 2021
- Global Electronic Data Interchange (EDI) Software Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Services
- By Deployment (USD)
- Cloud
- On-premises
- By Industry (USD)
- Healthcare
- Automotive
- Financial Services
- Manufacturing
- Retail
- Logistics
- Others (Telecom, etc.)
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Electronic Data Interchange (EDI) Software Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Services
- By Deployment (USD)
- Cloud
- On-premises
- By Industry (USD)
- Healthcare
- Automotive
- Financial Services
- Manufacturing
- Retail
- Logistics
- Others (Telecom, etc.)
- By Country (USD)
- United States
- By Industry
- Canada
- By Industry
- Mexico
- By Industry
- United States
- Europe Electronic Data Interchange (EDI) Software Market Size Estimates and Forecasts, By Segments, 2018-2029
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