Electronic data interchange (EDI) refers to transaction of business documents in a standard electronic format between business partners. For instance, common documents that are exchanged with the help of EDI are invoices, advance ship notices, and purchase orders. However, there are several other documents such as inventory documents, bill of lading, customs documents, payment documents, and shipping status documents. Electronic data interchange helps organizations to standardize the interchange of data between applications across the supply chain. This procedure guarantees that business-critical data is sent on time. Electronic data interchange replaces the mail preparation and handling associated with the traditional business communication. However, EDI helps to standardize the information communicated in business documents, which makes it a paperless exchange.

EDI solutions help organizations increase performance which is one of the key factors expected to drive the global electronic data interchange (EDI) market during the forecast period. Fast processing of accurate EDI documents leads to fewer cancelled orders, less repeated work, and fewer stock-outs. Additionally, shortening the order process and delivery times mean that organizations can reduce their inventory levels. However, limitations of electronic data interchange (EDI) include high cost and time-consuming deployment. Moreover, EDI needs constant maintenance since the business depends on it. A large number of organizations consider EDI to have too many standards. This restricts smaller businesses from dealing with larger organizations that use an updated version of document standard.

The global electronic data interchange (EDI) market can be segmented based on component, type, end-use industry, and region. In terms of component, the market can be bifurcated into solutions and services. The service segment is anticipated to hold the largest market share. Based on type, the global electronic data interchange market can be classified into direct EDI, EDI via VAN, EDI via AS2, web EDI, mobile EDI, EDI outsourcing, EDI software, and others. In terms of end-use industry, the electronic data interchange (EDI) market can be categorized into automotive, banking, financial services & insurance, telecommunication & information technology, retail & consumer goods, manufacturing, healthcare, logistics, and others. The banking, financial services & insurance segment is anticipated to account for the largest market share, as this industry depends on the ability to process accounts payable and receivables, as well as managing investments and loans on behalf of its customers, both retail and wholesale.

Additionally, the evolution of international trade has formed interdependencies between suppliers and buyers across the globe, resulting in the globalization of financial supply chain. Difficulties arise when working across worldwide boundaries which includes currencies, regulations, and accounting practices. Electronic data interchange (EDI) lessens these difficulties by bringing into track the financial supply chain data. A totally programmed financial supply chain allows accurate, seamless, and timely interchange of financial data between buyers, suppliers, and their financial institutions.

In terms of region, the global electronic data interchange (EDI) market can be segmented into North America, South America, Asia Pacific, Europe, and Middle East & Africa. The electronic data interchange (EDI) market in North America is anticipated to expand at a substantial growth rate during the forecast period. This is due to technological advancements and it has become the standard way in which most of the larger organizations trade with their supply chain. Asia Pacific is expected to be a lucrative market for electronic data interchange (EDI) during the forecast period due to increase in requirement of EDI in small, medium, and large enterprises.

The global electronic data interchange (EDI) market is characterized by the presence of several key players. Major players in the electronic data interchange (EDI) market compete with others in terms of price and quality. Key players operating in the global electronic data interchange (EDI) market include MuleSoft, Cleo, Capario, Inc., Optum, Inc., Dell Boomi, and Cerner Corporation.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Electronic Data Interchange Market

Pre Book