"We Envision Growth Strategies Most Suited
to Your Business"

EDI Software Market to Grow at 10.7% CAGR till 2027; Rising Deployment of Cloud-based EDI Platforms to Feed Market Growth

September 30, 2020 | Information & Technology

The global electronic data interchange (EDI) software market size is projected to reach USD 3,451.3 million by 2027 with increasing incorporation of automation technologies in logistics services, finds Fortune Business Insights™ in its report, titled “Electronic Data Interchange (EDI) Software Market Size, Share & COVID-19 Impact Analysis, By Product Type (Cloud Based, and On-Premise), By Industry (Healthcare, Automotive, Financial Services, High-Tech/ Manufacturing, Retail, Logistics, and Others (Telecom, etc.), and Regional Forecast, 2020-2027”. The report states that the value of the global market in 2019 stood at USD 1,547.2 million and is expected to register a CAGR of 10.7% from 2020 to 2027.


The COVID-19 pandemic is anticipated to have a positive impact on the electronic data interchange software market growth as escalating demand for contactless transactions has surged the adoption of digital payment solutions and cloud-based EDI platforms among the retail and healthcare industries.


HubBroker Introduces EDI Integration App on Microsoft Appsource


In July 2020, the Danish software company HubBroker ApS released its EDI integration app on Microsoft Appsource, a digital platform that provides tailored line-of-business solutions. The app is designed to enable businesses to export invoices directly from their individual Microsoft Dynamics 365 Business Central system, allowing efficient management and compliance with automation regulations as well as optimize fulfillment requirements. The company is also promoting its cloud-based iPaaS system, which can be used in tandem with the app as it accelerates business processes by removing the need for manual data-entry operations.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/electronic-data-interchange-edi-software-market-103690


Extensive Utilization of EDI Tools for Financial Services to Ensure Stable Growth


The EDI software market growth is premised on the wide application of electronic data interchange solutions in the financial services industry. In the US, for example, the transaction code EDI 139 is used by student loan agencies to inform lenders about the status of their loan guarantee. Governments are also adopting EDI platforms and solutions to optimize their tax collection processes. For instance, in the US, the Internal Revenue Service (IRS) leverages the Electronic Federal Tax Payment System, which enables citizens to make federal tax payments online. At the international level, too, EDI solutions are extensively employed. For instance, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) based in Belgium enables financial institutions worldwide to exchange financial information in a reliable, secure, and standardized manner. Thus, as digital transactions gain momentum across the globe, the demand for electronic data interchange software is likely to soar.


Strategic Alliances Aimed at Innovation to Spur Competition


Key players in this market are entering into collaborations and joint ventures to develop and introduce innovative EDI solutions for transforming business processes. This strategy is crucial for majority of the companies in this domain as collaborative innovations allows companies to enhance their R&D capacities and widen their offerings. Together, these actions will arm players with the necessary tools to entrench their position in the market as well as grow their presence globally.


Industry Development:



  • April 2020: The US-based electronic data interchange consulting company, Data Communications Solutions, partnered with another US-based integrations specialist, Cleo, to develop solutions for enterprises to upgrade their B2B operations using EDI and API integration, especially for Enterprise Resource Planning (ERP) systems. The companies will be leveraging Cleo’s Integration Cloud platform to deliver ecosystem integration capabilities to organizations.


List of Key Companies Profiled in the Electronic Data Interchange Software Market Report:



  • Open Text Corporation (Waterloo, Canada)

  • TrueCommerce Inc. (Pennsylvania, United States)

  • MuleSoft LLC (California, United States)

  • DiCentral Corporation (Texas, United States)

  • Boomi Inc. (Dell Boomi) (Pennsylvania, United States)

  • Babelway (Louvain-la-Neuve, Belgium)

  • Rocket Software, Inc. (Massachusetts, United States)

  • Epicor Software Corporation (Texas, United States)

  • Software AG (Darmstadt, Germany)

  • SPS Commerce, Inc. (Minnesota, United States)


Further Report Findings:



  • Increasing adoption of EDI software in the healthcare sector is expected to fuel the growth of the healthcare segment during the forecast period. In 2019, the segment’s overall share stood at 7.9%, while in the US it stood at 8.0%.

  • North America, where the market size in 2019 was at USD 896.4 million, is expected to lead the electronic data interchange software market share owing to introduction of advanced EDI solutions for various end-use industries by the players in the region.


Table of Segmentation:








































 ATTRIBUTE



  DETAILS



Study Period



  2016 – 2027



Base Year



  2019



Forecast Period



  2020 – 2027



Historical Period



  2016 – 2018



Unit



  Value (USD Million)



Segmentation



By Product Type



  • Cloud Based

  • On-Premise



By Industry



  • Healthcare

  • Automotive

  • Financial Services

  • High-Tech/ Manufacturing

  • Retail

  • Logistics

  • Others (Telecom, etc.)



By  Region



  • North America


    • By Product Type

    • By Industry

    • By Country


      • The U.S.


        • By Industry


      • Canada


        • By Industry


      • Mexico


        • By Industry




  • Europe


    • By Product Type

    • By Industry

    • By Country


      • Germany


        • By Industry


      • UK


        • By Industry


      • France


        • By Industry


      • Italy


        • By Industry


      • Spain


        • By Industry


      • Russia


        • By Industry




  • Asia Pacific


    • By Product Type

    • By Industry

    • By Country


      • China


        • By Industry


      • Japan


        • By Industry


      • South Korea


        • By Industry


      • Australia


        • By Industry


      • India


        • By Industry


      • Taiwan


        • By Industry


      • Indonesia


        • By Industry


      • Rest of Asia Pacific


        • By Industry




  • Middle East & Africa


    • By Product Type

    • By Industry

    • By Country


      • Saudi Arabia


        • By Industry


      • UAE


        • By Industry


      • Egypt


        • By Industry


      • Nigeria


        • By Industry


      • South Africa


        • By Industry


      • Rest of the Middle East and Africa


        • By Industry




  • South America


    • By Product Type

    • By Industry

    • By Country


      • Brazil


        • By Industry


      • Argentina


        • By Industry


      • Columbia


        • By Industry


      • Chile


        • By Industry


      • Rest of South America


        • By Industry





Global Electronic Data Interchange (EDI) Software Market
  • PDF
  • 2019
  • 2016-2018
  • 160

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Our Clients

3M
Fujifilm
uniliver
GM
Health Canada
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X