The Europe Electronic Data Interchange (EDI) Software Market is expected to witness market growth of 12.0% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Electronic Data Interchange (EDI) Software Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $591 million by 2031. The UK market is exhibiting a CAGR of 11% during 2024-2031. Additionally, the France market would experience a CAGR of 12.9% during 2024-2031.
EDI simplifies invoicing by electronically exchanging invoices and payment instructions, which helps companies streamline their accounts payable and receivable processes. EDI can be integrated with ERP and financial systems, providing a seamless flow of financial data that enhances financial reporting and auditing accuracy.
Moreover, EDI allows for real-time updates of inventory levels, enabling businesses to make informed decisions regarding stock replenishment and reducing excess inventory. EDI facilitates collaborative planning between manufacturers and suppliers, allowing for better forecasting and demand planning.
The rising trend of smart manufacturing in Sweden is set to significantly impact the growth of the electronic data interchange (EDI) software market. The country boasts a robust manufacturing and industrial engineering sector that contributes roughly 20% of its GDP, amounting to approximately $117 billion. Advanced manufacturing accounts for around $40 billion. The domestic economy is stimulated by this robust industrial base, which also plays a critical role in international trade. The sector is responsible for 75% of Swedish exports. As Sweden continues to embrace smart manufacturing practices, the demand for efficient and automated data exchange solutions, such as EDI, is expected to rise.
The Germany market dominated the Europe Electronic Data Interchange (EDI) Software Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $591 million by 2031. The UK market is exhibiting a CAGR of 11% during 2024-2031. Additionally, the France market would experience a CAGR of 12.9% during 2024-2031.
EDI simplifies invoicing by electronically exchanging invoices and payment instructions, which helps companies streamline their accounts payable and receivable processes. EDI can be integrated with ERP and financial systems, providing a seamless flow of financial data that enhances financial reporting and auditing accuracy.
Moreover, EDI allows for real-time updates of inventory levels, enabling businesses to make informed decisions regarding stock replenishment and reducing excess inventory. EDI facilitates collaborative planning between manufacturers and suppliers, allowing for better forecasting and demand planning.
The rising trend of smart manufacturing in Sweden is set to significantly impact the growth of the electronic data interchange (EDI) software market. The country boasts a robust manufacturing and industrial engineering sector that contributes roughly 20% of its GDP, amounting to approximately $117 billion. Advanced manufacturing accounts for around $40 billion. The domestic economy is stimulated by this robust industrial base, which also plays a critical role in international trade. The sector is responsible for 75% of Swedish exports. As Sweden continues to embrace smart manufacturing practices, the demand for efficient and automated data exchange solutions, such as EDI, is expected to rise.
List of Key Companies Profiled
- IBM Corporation
- Epicor Software Corporation
- Salesforce, Inc.
- Open Text Corporation
- Software AG
- SPS Commerce, Inc.
- Cleo Communications
- True Commerce, Inc.
- Rocket Software, Inc. (Bain Capital Private Equity)
- Boomi, LP.
Market Report Segmentation
By Deployment- Cloud
- On-Premises
- Retail
- Healthcare
- Automotive
- High-Tech/Manufacturing
- Financial Services
- Logistics
- Other Industry
- Outsourcing
- In-house
- Hybrid
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Europe Electronic Data Interchange (EDI) Software Market by Deployment
Chapter 6. Europe Electronic Data Interchange (EDI) Software Market by Industry
Chapter 7. Europe Electronic Data Interchange (EDI) Software Market by Type
Chapter 8. Europe Electronic Data Interchange (EDI) Software Market by Country
Chapter 9. Company Profiles
Companies Mentioned
Some of the key companies profiled in this Europe Electronic Data Interchange (EDI) Software Market include:- IBM Corporation
- Epicor Software Corporation
- Salesforce, Inc.
- Open Text Corporation
- Software AG
- SPS Commerce, Inc.
- Cleo Communications
- True Commerce, Inc.
- Rocket Software, Inc. (Bain Capital Private Equity)
- Boomi, LP.
Methodology
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