Global Electronic Data Interchange (EDI) Software Market
Global Electronic Data Interchange (EDI) software market report gives comprehensive outlook on Electronic Data Interchange (EDI) software across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global Electronic Data Interchange (EDI) software market gives historical, current, and future market sizes (US$ Mn) on the basis of type, application, end user, and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global Electronic Data Interchange (EDI) software.
Global Electronic Data Interchange (EDI) Software Market:
The global market is expected to be valued at US$ 947.5 Mn in 2019 and growing at a CAGR of 6.7% over the forecast period to reach US$ 1,434.6 Mn by 2026 owing to the advantages associated with the EDI which reduces the expenses of printing, storing, postage cost, e-mailing, and reprocessing. Electronic Data Interchange minimizes the data entry errors, improve accounts payable/receivable times as processes become streamlined and can be used for forecasting. EDI has also reduced the usage of paper and improved the turnaround times. EDI enhances the business efficiency, production collectivity, cost savings and improves accuracy of the organization.
EDI Helps in Increasing Performance
EDI solutions support organizations in increasing performance which is the major factors that drives the EDI market over the projected period. Fast processing of accurate EDI documents leads to fewer cancelled orders, less repeated work, and fewer stock-outs. Moreover, shortening the order process and delivery times mean that organizations can lessen their inventory levels. Though, limitations such as high cost and time-consuming deployment of EDI are anticipated to restrain the growth of the market. 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.
North America dominates the market share in the global market
North America contributed highest share of revenue followed by Europe, and Asia Pacific in global EDI market. North America region is anticipated to grow with a significant CAGR over the forecast years owing to increasing adoption towards advanced technologies and most of the large size enterprises have been adopted with EDI to trade with their supply chain. Europe is expected to grow with a significant CAGR over the forecast years due to presence of large number of market players depending on the EDI in the region. Asia Pacific is projected to grow with highest CAGR over the forecast years owing to presence of large of medium and small-scale organizations.
Key player’s profiles in the global market include:
- Optum, Inc.
- Cerner Corporation
- Software AG
- Dell Boomi
- Business Systems Integrators
- SPS Commerce Fulfillment
- Capario, Inc.
- Market players have witnessed the advancements of technology and launch of new technologies to strengthen their position in the Electronic Data Interchange (EDI) software market across the globe.
- For instance, in 2012, OptumInsight has launched the new capabilities of its Netwerkes electronic data interchange (EDI) service, creating a smart clearinghouse that helps hospitals and physician practices which increases billing accuracy and productivity by reducing the administrative costs and ensures timely receipt of payments from health plans.
Key Findings of the Report:
- Global market expanding at significant CAGR over 2020 to 2025 owing to rising demand in healthcare and other larger organizations and developed and developing countries.
- Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on new technologies and collaboration strategies to retain market position in global market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Large Enterprises
By End User
- Financial Services & Insurance
- Telecommunication & Information Technology
- Retail & Consumer Goods
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA