What Transformation Has the Electronic Data Interchange (EDI) Software Market Undergone?
The electronic data interchange (edi) software market has seen considerable growth due to a variety of factors.
• In recent years, the market size of the electronic data interchange (EDI) software has seen substantial growth. It is projected to expand from $2.24 billion in 2024 to a whopping $2.47 billion in 2025 with a compound annual growth rate (CAGR) of 10.2%. The historic surge in growth can be credited to aspects like business process automation, improved order processing, optimization of the supply chain, adherence to industry norms, business globalization and the competitive edge provided by EDI.
What Are The Predictions for The Electronic Data Interchange (EDI) Software Market?
The Electronic Data Interchange (EDI) Software market is expected to maintain its strong growth trajectory in upcoming years.
• Just in the next few years, rapid expansion is anticipated for the Electronic Data Interchange (EDI) software market that is predicted to surge to $4.01 billion by 2029, flourishing at a compound annual growth rate (CAGR) of 12.9%.
This growth spurt in the forecast period is credited to various factors such as the rising focus on data security, growing realization of regulatory compliance requirements, escalating demand for real-time data, improved analytics and reporting, widespread adoption among small and medium enterprises, and enhanced user-friendly interfaces. The up-and-coming trends foreseen for the forecast period encompass ERP system integration, heightened security through blockchain integration, mobile accessibility, the introduction of AI and machine learning in data mapping and translations, the advent of supplier collaboration platforms, global broadening along with multi-language support, and eco-friendly EDI practices.
Which Drivers Are Accelerating Growth In The Electronic Data Interchange (EDI) Software Market?
The growing implementation of automation solutions in corporate operations has led to an expansion in the electronic data interchange (EDI) software market. These automation solutions include employing software applications to mechanize recurring organizational tasks and services. EDI software streamlines B2B transfer of official documents between corporate peers like suppliers or consumers, automating a previously manual paper-reliant process, providing significant savings in terms of time and funds. For example, Selecthub, an IT-tech firm, indicates that 59% to 85% of businesses in the supply chain sector are implementing EDI technology. Quixy, another IT software company, found in 2022 that 31% of corporate leaders believe automation software can cut labor expenses and estimate an annual time-saving of 360 hours from task automation. Consequently, the escalating acceptance of automation solutions in business operations is propelling the electronic data interchange (EDI) software market.
What Are The Core Segments Of The Global Electronic Data Interchange (EDI) Software Market?
The electronic data interchange (EDI) software market covered in this report is segmented –
1) By Component: Software, Services
2) By Type: On-Premise, Cloud Based
3) By Application: Small And Medium-Sized Enterprises, Large Enterprises
4) By Industry: Automotive, Banking, Financial Services And Insurance, Telecommunication And Information Technology, Retail And Consumer Goods, Manufacturing, Healthcare, Logistics, Other Industry
Subsegments:
1) By Software: On-Premises EDI Software, Cloud-Based EDI Software, Integration Software (APIs, Middleware)
2) By Services: EDI Implementation Services, EDI Consulting Services, EDI Managed Services, EDI Support And Maintenance Services
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Which Emerging Trends Are Reshaping The Electronic Data Interchange (EDI) Software Market Size?
Significant players in the electronic data interchange (EDI) software market are introducing new platforms like the web-based Electronic Data Interchange (EDI) to improve claims delivery procedures. This platform aids in the smooth transfer of data from healthcare facilities. For instance, Smart Applications International (U) Ltd, a Kenyan ICT solutions company, teamed up with Sanlam Life Insurance Ltd in September 2022 to launch a web-based EDI. The goal was to improve data transfer from healthcare institutions to Sanlam. The EDI system's purpose is to improve claim delivery procedures in the medical insurance industry. It ensures comprehensive Electronic Claims Delivery, reduces Claim Rejection, enhances Claim Processing Status Visibility, accommodates paperless procedures, and gives improved reporting options through analytics dashboards.
Who Are the Key Players In The Electronic Data Interchange (EDI) Software Market?
Major companies operating in the electronic data interchange (EDI) software market include:
• Boomi Inc.
• SPS Commerce Inc.
• MuleSoft LLC
• TrueCommerce Inc.
• Rocket Software Inc.
• Open Text Corporation
• Babelway SA
• Comarch SA
• Cleo Communications
• 1 EDI Source Inc.
• DiCentral Corporation
• Ediciones y Publicaciones del Comercio S.L.
• Intertrade Systems
• Epicor Software Corporation
• Business Systems Integrators
• Software AG
• Crossinx GmbH
• Data Masons Software LLC
• IBM Corporation
• The Descartes Systems Group Inc.
• Liaison International Inc.
• Oracle Corporation
• Edifecs Inc.
• Symbology Inc.
• Optum360 LLC
• HighJump Software Inc.
• Jitterbit Inc.
• Actian Corporation
• Talend Inc.
What Are The Regional Insights Into The Electronic Data Interchange (EDI) Software Market?
North America was the largest region in the electronic data interchange (EDI) Software market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic data interchange (EDI) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
