Electronic Data Interchange (EDI) Market: Competitive Landscape and Industry Share Analysis

According to our latest market study on "Electronic Data Interchange (EDI) Market Size and Forecast (2020–2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Component, Type, and Industry," the market is expected to grow from US$ 27.93 billion in 2022 to US$ 58.98 billion by 2030; it is estimated to register a CAGR of 9.8% from 2022 to 2030.

Large and small enterprises are continuously investing in cloud computing, EDI solutions, web apps, artificial intelligence, predictive analytics, the Internet of Things, and big data, as digital technologies are constantly transforming industries across the globe and revolutionizing business processes by improving operational efficiency at reduced costs. The rising adoption of cloud computing is one of the substantial factors for deploying EDI technology and service consumption models. Organizations are diverting their focus on applications, data, connections, and cloud integration, including EDI. Although cloud computing has grown exponentially, there is a shortage of well-trained IT professionals. Process automation and digital transformation can create unparalleled opportunities for businesses to create more value and increase revenue. Invoicing is a considerable function in all business segments, including B2B and B2C, which require a substantial cost, time, and workforce. Along with paper-based invoices, a large number of e-invoices are generated daily, thereby reducing the overall productivity cost of the business. The rising adoption of e-invoicing helps businesses save substantial costs associated with invoicing generation and transmission to end customers.

Blockchain is a revolutionary technology transforming business processes across many industries, from retail to logistics. It is deployed to transform the payment and invoicing industry globally by offering easy access and highly secure solutions for end customers. The growing integration of blockchain technology due to successful proof of concepts across various industries such as IT & telecom, BFSI, transportation, and logistics demands EDI solutions for efficient data interchange. A few blockchain applications consist of high-security applications, data of multiple parties, and tracking of goods from origin to end user. The US and China significantly contribute to the global blockchain technology market growth. Industry experts consider that blockchain technology can transform and disrupt traditional business models by offering substantial business benefits such as greater transparency, increased efficiency, enhanced speed of transactions, better traceability, improved security, and reduced costs. However, according to a few industry experts, blockchain technology cannot replace the B2B transactional methodology; it is suggested to be used as an add-on to EDI for producing a better business outcome instead of replacing the overall EDI solution with blockchain technology. Therefore, with the mounting digitalization of payment as well as invoice processes across diversified businesses, the adoption of blockchain technology is expected to lead to the future growth of the EDI market.

The top five companies in the market are SPS Commerce Inc, International Business Machines Corp, Boomi Inc, Cleo, and Mulesoft LLC. The above listing of key players is derived by considering multiple factors such as overall revenue, current well completion equipment and services portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities.

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