Global Electronic Data Interchange (EDI) Market to Grow at a CAGR of 12% During 2024-2032, Aided by the Substantial Advancements in the Retail Industry and a Rising Preference for Cloud-Based EDI Solutions

The remarkable expansion of the retail industry stands out as a key driver for the electronic data interchange (EDI) market growth. EDI plays a pivotal role in this sector, being extensively utilised by retailers for data exchange with suppliers. It facilitates various functions such as inventory management, shipment tracking, order placement, supply chain optimisation, and process automation.

The adoption of EDI in retail brings about improvements in efficiency, cost reduction, error minimisation, sales enhancement, and mitigation of issues related to stockouts and overstocks. These benefits collectively contribute to the overall efficiency and effectiveness of retail operations, driving the market growth.

Moreover, the rising demand for cloud-based EDI solutions is exerting a positive influence on the market growth. These solutions enable real-time data exchange, enhance communication between business partners, and provide easy accessibility, scalability, and cost-effectiveness. The increasing preference for cloud-based EDI solutions reflects the industry's recognition of the advantages they offer, contributing to the market expansion.

In February 2022, IBM (NYSE: IBM) declared acquisition of Neudesic, a prominent US-based cloud services consultancy with a primary focus on the Microsoft Azure platform and expertise in multicloud solutions. This strategic move is expected to greatly enhance IBM's array of hybrid multicloud services, contributing to the continued development of the company's hybrid cloud and artificial intelligence (AI) strategy.

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Market Breakup by Type, Enterprise Size, and Region:

• The market on the basis of type can be divided into EDI VAN (value added network), EDI Software, and EDI-as-a-service (outsourcing/managed services).

• Based on enterprise size, the market can be divided into large enterprise, and small and medium enterprise.

• The regional markets for electronic data interchange include North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Key Findings of the Report:

• EDI program outsourcing is facilitated through managed services, wherein a third-party provider manages and implements the EDI platform on behalf of organisations. This outsourcing approach allows companies to leverage a diverse set of skills and avoid the capital investment associated with hardware and software.

• Many businesses are actively prioritising the integration of EDI with their back-office systems, including Enterprise Resource Planning (ERP) systems. This integration aids in meeting the demand for internal resources and streamlining overall operations.

• Moreover, the adoption of the managed services approach for EDI has gained popularity among organisations. The implementation of EDI outsourcing is characterised by a higher level of engagement compared to outsourcing in other areas of the IT industry, contributing significantly to the growth of the electronic data interchange (EDI) market.

• The implementation of EDI outsourcing brings about numerous advantages, including access to cutting-edge technology, seamless integration with external systems, and the provision of value-added services that enable users to engage in global trade.

• EDI plays a crucial role in enhancing business agility by facilitating the swift entry into new markets. Furthermore, it contributes to heightened business productivity by delivering comprehensive and advanced information pertaining to performance, the supply chain, and relationships with business partners.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for electronic data interchange for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the type, enterprise size, and region, of electronic data interchange.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the electronic data interchange (EDI) market include BTC AG, IBM Corporation, Cleo Integration Cloud (CIC), SPS Commerce, Inc., Dell Inc., and General Electric Company, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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