Global Electronic Data Interchange (EDI) Software Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment(Cloud, On- Premises) - Industry Forecast 2022-2028

Global Electronic Data Interchange Software Market size was valued at USD 1.88 billion in 2021 and is expected to reach USD .04 billion by 2028, at a CAGR of 11.6% during the forecast period (2022-2028).

Software in Electronic Data Interchange (EDI) simplifies the process for business partners to exchange electronic documents. Businesses can exchange data using EDI in a standardised, structured format, that eliminates the need for manual data entry and increases productivity.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Electronic Data Interchange Software market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

Global Electronic Data Interchange Software Market is segmented based on the component, deployment, and region. Based on the component, the Electronic Data Interchange Software Market is segmented as software, services. Based on the deployment, the Electronic Data Interchange Software Market is segmented as cloud, on-premises. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

The growing use of cloud-based EDI solutions is driving the market for EDI software. Compared to conventional on-premises solutions, cloud-based EDI solutions have a number of benefits, including lower initial costs, more scalability, and easier accessibility. Additionally, as companies attempt to streamline their supply chain processes and boost overall efficiency, the desire for supply chain automation is driving the uptake of EDI software.

Restraint

The high deployment and maintenance costs of EDI software are can drive the market for the software. Also, businesses may find it challenging to use EDI solutions due to the complexity of EDI standards and the lack of interoperability across various EDI systems. Businesses are leery of the hazards involved with electronically exchanging sensitive data, which poses a potential barrier to adoption.

Market Trends

Machine learning and artificial intelligence (AI) technologies are being used more widely in the EDI software market. These tools can assist companies in optimizing the EDI process, reducing the need for manual intervention and enhancing the accuracy of data interchange. As businesses attempt to improve their responsiveness to shifting market conditions and customer demands, another trend is the rising demand for real-time data exchange. Finally, as businesses strive to combine their online and offline channels and provide a seamless customer experience, the trend towards omnichannel retailing is driving the adoption of EDI solutions.