Electronic Data Interchange (EDI) Software Global Market Report 2024

The global electronic data interchange (edi) software market has grown rapidly in recent years. It will grow from $2.06 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to the automation of business processes, efficient order processing, supply chain optimization, compliance with industry standards, globalization of business, and EDI as a competitive advantage.

The global electronic data interchange (EDI) software market is expected to see rapid growth in the next few years. It will grow to $3.53 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The projected growth in the forecast period can be attributed to a heightened focus on data security, regulatory compliance requirements, the increasing demand for real-time information, enhanced analytics and reporting capabilities, and a growing adoption of Electronic Data Interchange (EDI) in small and medium enterprises. Additionally, there is an emphasis on user-friendly interfaces to facilitate user adoption. Major trends expected in this period include the integration of EDI systems with Enterprise Resource Planning (ERP) systems, the incorporation of blockchain technology for enhanced security, mobile accessibility, the utilization of artificial intelligence (AI) and machine learning in data mapping and translation processes, the development of supplier collaboration platforms, global expansion efforts with multi-language support, and the promotion of green EDI practices.

The electronic data interchange (EDI) software market is witnessing significant growth, propelled by the increasing adoption of automation solutions in various business processes. Automation solutions involve leveraging software applications to streamline and automate repetitive business activities and services. In this context, EDI software serves as an automated solution for Business-to-Business (B2B) transactions, facilitating the seamless transfer of business documents among partners such as suppliers and customers. This technology automates processes that were traditionally handled manually with paper documents, leading to substantial time and cost savings for businesses. Notably, statistics from Selecthub indicate that 59% to 85% of companies in the supply chain industry have embraced EDI technology. Additionally, a 2022 report by Quixy highlights that 31% of business leaders acknowledge the cost-saving benefits of automation software, estimating potential time savings of up to 360 hours per year. The increasing integration of automation solutions in business processes is identified as a key driver fueling the growth of the EDI software market.

The electronic data interchange (EDI) software market is set to experience further growth, driven by the rising prominence of e-commerce. E-commerce, encompassing online retail, digital transactions, and electronic payments, has become a significant force in the business landscape. EDI software plays a crucial role in facilitating standardized electronic communication of business documents, contributing to enhanced efficiency and accuracy in e-commerce transactions. Recent data from the Census Bureau of the Department of Commerce reveals the continued growth of retail e-commerce sales in the United States, reaching $277.6 billion in the second quarter of 2023, representing a 2.1% increase from the previous quarter. This surge in e-commerce activities is identified as a key factor propelling the EDI software market forward.

Major companies operating in the EDI software market are strategically introducing innovative platforms to address specific industry needs. An example is the partnership between Smart Applications International (U) Ltd and Sanlam Life Insurance Ltd., resulting in the launch of a web-based EDI platform. This platform is designed to streamline data transmission from medical health facilities to Sanlam, enhancing claims delivery processes in the medical insurance sector. The EDI platform aims to promote completeness in Electronic Claims Delivery, reduce claims rejections, improve claim processing status visibility, support paperless processes, and offer enhanced reporting through analytics dashboards. This initiative highlights the industry's commitment to leveraging technology for efficiency improvements and enhanced collaboration in specific sectors.

Major players in the EDI software market are focusing on collaborative programs to strengthen ties with Enterprise Resource Planning (ERP) resellers. TrueCommerce's launch of the TrueCommerce xChange program stands out as an initiative aimed at enhancing collaboration with ERP resellers. This partner program for electronic data interchange (EDI) solutions facilitates seamless integration with leading ERP systems. Launched in April 2023, TrueCommerce xChange empowers ERP resellers with dedicated sales resources, solution training, and co-marketing opportunities. The program aims to simplify EDI implementation, providing ERP partners with the tools and support needed to deliver accelerated returns on their customers' ERP investments. This collaborative approach emphasizes the importance of partnerships in driving the growth of the EDI software market.

In June 2022, Epicor, a prominent US-based software company, successfully completed the acquisition of Data Interchange for an undisclosed amount. This strategic move enables Epicor to enrich its portfolio with a range of B2B integration technologies. These technologies empower customers to establish seamless connections with businesses and trading partners, fostering increased efficiency in supply chain operations. Data Interchange, headquartered in the UK, specializes in offering electronic data interchange (EDI) cloud technologies and managed services.

Major companies operating in the electronic data interchange (edi) software market report are 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, GXS Inc., Edifecs Inc., Symbology Inc., Optum360 LLC, HighJump Software Inc., Jitterbit Inc., Actian Corporation, Talend Inc.

North America was the largest region in the electronic data interchange (EDI) Software market in 2023. 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. The countries covered in the electronic data interchange (edi) software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main categories of Electronic Data Interchange (EDI) software include on-premise and cloud-based solutions. On-premise solutions involve hosting IT infrastructure, encompassing hardware and software applications, within the organization's premises. This approach provides localized accessibility, offering enhanced security and control. The essential components of EDI software include software and services. These solutions find application across enterprises of varying sizes, including small, medium, and large-scale businesses. Industries such as automotive, banking, financial services and insurance, telecommunications, information technology, retail, consumer goods, manufacturing, healthcare, logistics, and others utilize EDI software for efficient data exchange.

This report provides electronic data interchange (EDI) software market statistics, including electronic data interchange (EDI) software industry global market size, regional shares, competitors with an electronic data interchange (EDI) software market share, detailed electronic data interchange (EDI) software market segments, market trends and opportunities, and any further data you may need to thrive in the electronic data interchange (EDI) software industry. This electronic data interchange (EDI) software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electronic data interchange (EDI) software market consists of revenues earned by providing the transfer of purchase orders, invoices, and shipment transactions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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