Global EDI market size expected to reach USD 4.04 billion by 2029


Electronic Data Interchange (EDI) Software Market Size, Share, and Impact Analysis, by Component (Software and Services), by Deployment (Cloud and On-Premise), by Industry (Healthcare, Automotive , financial services, manufacturing, retail, logistics and others) and regional forecast, 2022-2029

The global “EDI Market Size” is expected to reach USD 4.04 Million by 2029, from USD 1.7 Million in 2021, at a compound annual growth rate (CAGR) of 11.6% during the forecast period . Widening uptake of EDI agreements in healthcare will be one of the key variables in the development of this market, says Fortune Business Insights™ in its report, titled “EDI Market Size, Share and COVID-19 Impact Analysis, By Product Type (Cloud-Based & On-Premise), By Industry (Healthcare, Automotive, Financial Services, Hi-Tech/Manufacturing, Retail, Logistics & Others (Telecom etc.) & Regional Forecast, 2022- 2029″.

Electronic Data Interchange (EDI) Software Market Report details:

Market size value in 2021:

$1.70 billion

CAGR:

11.6

Forecast period:

2022-2029

Forecast of turnover in 2029:

$4.04 billion

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Electronic data interchange software encourages the virtual transmission of data between colleagues, eliminating the requirement for paper-based information exchange. In the field of medical care, where a lot of information is created every day, EDI programming can enable a productive exchange of data between medical service foundations, experts and patients. The benefits of this innovation have been significantly further complemented during the current COVID-19 pandemic, as EDI helps medical care experts convey administrations to patients other than those suffering from COVID-19. For example, in April 2021, Cloudnine Group of Hospitals, India’s leading chain of emergency clinics, partnered with Dunzo, a daily online stopover, to donate life-saving medicines to expectant mothers and their babies at the door. As a result, the receipt of EDI agreements is likely to be sustained amid the current health emergency.

List of Key Players Covered in the EDI Market Report:

  • Babelway (Louvain-la-Neuve, Belgium)
  • Rocket Software, Inc. (Massachusetts, USA)
  • Epicor Software Corporation (Texas, USA)
  • Software AG (Darmstadt, Germany)
  • SPS Commerce, Inc. (Minnesota, USA)
  • Open Text Corporation (Waterloo, Canada)
  • TrueCommerce Inc. (Pennsylvania, USA)
  • MuleSoft LLC (California, USA)
  • DiCentral Corporation (Texas, USA)
  • Boomi Inc. (Dell Boomi) (Pennsylvania, USA)

main driver

Financial and operational feasibility of EDI to fuel SME demand

The monetary and operational benefits offered by EDI responses for small and medium-sized enterprises (SMEs) are an undeniable factor in the development of the electronic information commerce programming market. These companies have to work on limited spending plans and have a strong need for productive systems to conduct business wisely. As EDI contributes to the achievement of these objectives, its interest for SMEs continues to grow. For example, because EDI interchanges are completed electronically and quickly, they eliminate the costs that are regularly incurred for paper writing materials, delivery charges and labor. Regulatory expenses are also avoided because the data capacity is virtual, eliminating the need to spend on additional space. Additionally, tracking requests through paper cycles is cumbersome and deeply unnecessary. EDI programming can work on these businesses and improve inventory network activities, enabling SMEs to complete projects on time and convey the most outstanding consumer loyalty. Subsequently, electronic information business programming can greatly improve the benefit of SMEs in a limited capacity of time focus.

Regional outlook

Rapid Growth of E-Commerce Industry to Fuel Market Growth in Asia-Pacific

The Asia-Pacific e-commerce industry has grown exponentially in recent years, supported by the rapid economic development of India and China. As a result, the demand for technologies boosting supply chain efficiency has increased, laying the foundation for the growth of the EDI software market in the region. Additionally, expanding manufacturing activities and government support for industrial digitalization will further propel the regional market.

North America is expected to dominate the EDI market share over the forecast period owing to the active adoption of advanced EDI technologies powered by artificial intelligence (AI) and machine learning (ML). In 2019, the region’s market size stood at USD 896.4 million. In Europe, the main market driver will be the strong presence of EDI solution providers in the region.

According to the report, the global market value stood at $1,547.2 million in 2021. Other highlights of the report include:

  • Granular investigation of the various engines and models in the market;
  • Detailed investigation of market limits;
  • Tiny evaluation of the territorial elements of the Electronic Data Interchange (EDI) Software market;
  • A comprehensive assessment of the serious market scene; and
  • An exhaustive assessment of all parts of the Electronic Data Interchange (EDI) Software market.

Competitive landscape

Development of next-generation integrated EDI solutions to drive competition

The competitive landscape of this EDI market is increasingly characterized by the activities of key players focused on developing state-of-the-art EDI solutions with wide applicability. In pursuit of this end, companies are collaborating with each other and expanding their business horizons by diversifying their offerings.

Industry developments:

  • June 2021:MuleSoft announced the launch of MuleSoft Accelerator for Healthcare, featuring a set of prebuilt integrations and APIs to retrieve public health data from external sources and common electronic health record systems. Reusable APIs and integrations will allow entities to save time and money and use resources efficiently.
  • May 2021:DiCentral Corporation, a supply chain management specialist, collaborated with Tokyo-based Nippon Information and Communication (NI+C). The partnership will allow NI+C to increase its EDI capabilities to meet the growing demand for supply chain automation and outsourced B2B integration.

Quick buy –EDI Market Report:

https://www.fortunebusinessinsights.com/checkout-page/103690

About Us:

Fortune Business Insights™ provides accurate data and innovative business analytics, helping organizations of all sizes make the right decisions. We tailor innovative solutions to our clients, helping them address a variety of challenges unique to their businesses. Our goal is to provide them with global market intelligence, providing them with a granular overview of the market in which they operate.

Press release distributed by The Express Wire

To see the original version on The Express Wire, visit Global EDI market size expected to reach $4.04 billion by 2029

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