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.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in 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.