Pune, India, May 10, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global electronic data interchange software market size was valued at USD 1.78 billion in 2022 and is projected to grow from USD 1.98 billion in 2023 to USD 4.52 billion by 2030, exhibiting a CAGR of 12.5% during the forecast period. Market growth is attributable to the increasing inclination of large enterprises toward in-house processing to accelerate process automation and digital transformation. Fortune Business Insights presents this information in its report titled "Electronic Data Interchange (EDI) Software Market Forecast, 2023-2030”.
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Key Industry Development:
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.
Key Takeaways:
- Electronic data interchange software market size in North America was USD 1 Billion in 2022
- Heightened adoption of electronic data transactions across industry verticals will create a favorable outlook for the market
- The global demand is driven by rising adoption of electronic data transactions across various industries
- The logistics segment is expected to hold a major market share during the projected period
Discover the Leading Players Featured in the Report:
“Companies leading the global electronic data interchange software market are 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)”
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 12.5% |
| 2030 Value Projection | USD 4.52 Billion |
| Base Year | 2022 |
| Electronic Data Interchange Software Market Size in 2022 | USD 1.78 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 140 |
| Segments covered | Deployment, Industry and Geography |
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Drivers & Restraints:
Increased Adoption among Small & Medium Businesses to Strengthen Market Outlook
The Electronic Data Interchange (EDI) software 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 Electronic Data Interchange (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 product demand to some extent.
Segmentation:
By Deployment
- Cloud
- On-premises
By Industry
- Healthcare
- Automotive
- Financial Services
- Manufacturing
- Retail
- Logistics
- Others (Telecom)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America to Hold Significant Share Due to Extensive Adoption of Software across Several Sectors
North America is expected to dominate the global market share through 2030. Regional market trends will be influenced by rising adoption across retail, healthcare, automotive, and manufacturing. The rising number of digital business-to-business transactions in the U.S. is also contributing to market growth in this region.
The Europe market is projected to record the highest CAGR across all regions due to the presence of a large number of data exchange solutions and tool manufacturers in the region.
The 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.
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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 strengthening their market position. Recent years have witnessed the launch of advanced EDI systems integrated with machine learning, IoT, cloud, and blockchain.
FAQs
How big is the electronic data interchange software market?
Electronic data interchange software market size was USD 1.78 billion in 2022. It is expected to reach USD 4.52 billion by 2030.
How fast is the electronic data interchange software market growing?
The electronic data interchange software market will exhibit a CAGR of 12.5% during the forecast period, 2023-2030.
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