The new report from Expert Market Research titled “Electronic Data Interchange Global Market Share, Size, Report and Forecast 2023-2028” provides an in-depth analysis of the Electronic Data Interchange (EDI) market, assessing the market based on its segments. such as applications, manufacturing process, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, along with market analysis based on SWOT and Porter’s Five Forces models.
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Highlights of the report include:
Market Overview (2018-2028)
- Historic market size (2020): $26 billion
- Forecast CAGR (2023-2028): 12%
- Estimated market size (2026): $52 billion
The expansion of the EDI market is largely due to technological advances and inventions. Amidst the day-to-day chaos of maintaining a large merchant network, tracking transactions and communicating across multiple media, Electronic Data Interchange (EDI) solutions are emerging as an electronic antidote to the inefficient manual process for businesses of all types. . As technology-enabled businesses want a piece of the pie early on, vendors of electronic data interchange solutions are pushing to combine Blockchain and EDI technologies to integrate security into core business processes.
Organizations can use EDI to control data communication between supply chain applications. EDI helps the organization and ensures that business critical data is delivered on time. Traditional business communication was replaced by EDI, which automated mail preparation and handling. Moreover, throughout the forecast period, an increase in the number of end-users along with increasing acceptance of EDI is likely to fuel the growth of the electronic data interchange market in various industries.
Electronic Data Interchange Industry Definition and Key Segments
Electronic data interchange (EDI) refers to companies sharing information that was previously communicated on paper, such as purchase orders and invoices, in a digital format (EDI). Based on the type of business and the size of the company, the electronic data interchange (EDI) market can be divided into several categories. Electronic data interchange (EDI) technical standards exist to make it easier for parties to trade financial instruments without having to make special preparations. EDI standards describe the rigorous format of electronic documents and were developed specifically for the automotive sector to be independent of connectivity and software technologies.
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By type, the market is segmented into:
- EDI VAN (Value Added Network)
- EDI software
- Cloud based
- EDI-as-a-Service (Outsourced/Managed Services)
According to the company, the market is divided into:
- Great enterprise
- Mobile application for small and medium enterprises
By region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Electronic data interchange market trends
The retail business is under pressure from demanding customers, prompting them to look for EDI solutions to reduce costs and improve system performance. The automotive industry was also an early adopter of EDI systems to ensure continuous sharing of business documents at multiple levels, from car manufacturers to distributors and end users. Despite the fact that demand for EDI systems has matured, many firms still foresee a long and costly transition away from paper.
The high initial cost of implementation makes these approaches undesirable for adoption, and the lack of qualified personnel also means a budget for preparation, which adds to a high initial cost. Moreover, an increasing number of end users is expected to drive the demand for electronic data interchange services/solutions across the market horizon. End users include payers, providers, the pharmaceutical and medical device industries, and others.
The use of analytical data has given the EDI market a new dimension in all industrial sectors. Due to increased competition, price pressure and smaller profit margins, pharmaceutical and medical device manufacturers are also implementing electronic data interchange services or solutions, which is expected to help expand this industry.
North America has the highest market share due to its well-established industry standards. Europe is expected to hold a significant market share during the forecast period due to increasing demand for electronic data exchange services/solutions among pharmaceutical companies and medical device manufacturers in Europe to combat increasing competition, pricing pressure and lower profit margins.
The market in the Asia Pacific region is likely to be driven by regulatory reforms, economic development and an emerging IT industry. Increasing patient volume, the need to manage a large volume of patient data, and the deployment of HCIT programs in India, Japan, and Australia are also anticipated to aid market growth.
Major market players
Key players in the market are Business Technology Consulting (BTC) AG, Cleo, SPS Commerce, Inc. (NASDAQ: SPSC, Dell Technologies Inc., General Electric Company, International Business Machines Corporation (IBM) Corporation, McKesson Corporation, among others. The report covers market shares, capacities, expansions, investments, and mergers and acquisitions, among other most recent developments. the last of these market actors.
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