Press release
Electronic Data Interchange Market Growth Scenario with 9.5% of CAGR by 2027 - Mulesoft, SPS Commerce, TrueCommerce, IBM Corporation, Cleo, The Descartes Systems Group
The Insight Partners
According to our latest market study on “Electronic Data Interchange (EDI) Market to 2027 – COVID-19 Impact and Global Analysis and Forecast by Component (Solution, Services); Type (Direct EDI, EDI via AS2, EDI via VAN, Mobile EDI, Web EDI, EDI outsourcing, Others); Industry (BFSI, Retail and Consumer Goods, Healthcare, IT and Telecommunication, Transportation and Logistics, Others); and Geography,” the market was valued at US$ 24,640.3million in 2019 and is projected to reach US$ 49,213.1million by 2027; it is expected to grow at a CAGR of 9.5 % from 2019 to 2027.
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COVID-19 Impact on electronic data interchange (EDI) Market
According to World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in the year 2020 and likely in 2021 as well. The outbreak has created significant disruptions in primary industries such as consumer electronics, semiconductor, automotive, and IT infrastructure. All these industries are crucial for the growth of electronic data interchange (EDI) market as they are of major demand generation industries for electronic data interchange (EDI The global electronics and semiconductor industry are one of the major industries that is facing serious disruptions due to supply chain issues and manufacturing shutdowns.
The report highlights the key factors driving the market growth, prominent players and their developments in the market.
Strategic Insights:
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
In 2020, Cleo and C&A partnered to develop digital ecosystems. The businesses through this partnership which depend on SAP, ERP, and JD Edwards will be entitled to extend their reach to those applications via cloud-based B2B/EDI integration technology.
In 2019, the TrueCommerceecUtopia EDI Solution was selected by Cavender's, which is a supplier community and enhance the supply chain efficiency.
North America accounted for the largest market share in 2019. The North America is one of the most advanced regions in terms of adoption and implementation of EDI solutions. In 2019, the region contributed ~40% of the overall Electronic Data Interchange (EDI) Market share. The US has clearly past the phase of early adoption EDI solutions. With continuous increase in data transactions in B2C, B2B, and more, a number of organizations and their partners are projected to grow in the future. Asia Pacific is expected to be the fastest-growing market for EDI during the forecast period. The adoption of high-end automation solutions among various industries in China and Japan is a key parameter identified for the growing demand for EDI solutions and services. Several industries, such as BFSI, retail, logistics, and IT industry, are booming in APAC countries and is also anticipated to continue to grow at a substantial rate during the forecast period. Europe is another crucial market expected to witness the growth of EDI during the forecast period. Europe is the region where the adoption of electronic and digital processes/solutions is quite high among businesses, and EDI in this region is being driven by governments in various countries. Furthermore, the constant digitalization across the world and growing adoption of EDI transaction as well as associated compliance would fuel the market growth in the next few years. Further, Asia Pacific is followed by the Middle East and Africa, and South America.
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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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