Electronic Data Interchange Software Market is Anticipated to Grow at an Impressive CAGR During 2021-26

0
28

Stratview Research releases a new report on the Electronic Data Interchange Software market that shows lucrative growth opportunities in the global industry during the next five-year period. This report ensures reliable information related to the present and future market trends. The following summary will give an overview of the challenges, dynamics, and more details mentioned in the report.

Electronic Data Interchange Software Market Insights:

The electronic data interchange software market is expected to grow from USD 1.84 billion in 2020 to USD 3.24 billion by 2026 at a CAGR of 9.9% during the forecast period.

What is Electronic Data Interchange (EDI) software?

EDI software is an automation solution used in business-to-business communications. It enables two business entities to exchange documents that were previously done via paper or fax. The software can be connected with various enterprise systems, such as eCommerce solutions, enterprise resource planning (ERP) software, workforce management systems (WMS), customer relationship management (CRM) software, accounting software, and more. The documents, such as purchase orders, advanced ship notices, and invoices can be digitally transmitted using EDI software. EDI software can also be industry specific. The advantages of EDI software are improved transaction speed and document accuracy, greater visibility, and cost reduction. Due to its automation requirements and inter-business communication, various standards are also developed for EDI that includes ANSI, TRADACOMS, EDIFACT, and ebXML.

Key Players

Some of the major players in the market are-

  • SPS Commerce (The U.S),
  • TrueCommerce (The U.S),
  • Mulesoft (The U.S),
  • IBM Corporation (The U.S),
  • Cleo (The U.S),
  • Data Masons Software (The U.S),
  • Edicom (Spain),
  • Crossinx (Germany),
  • Intertrade Systems (The U.S),
  • Comarch (Poland), and
  • The Descartes Systems Group (Canada).

Market Segmentation:

The report segments based on geographics, demographics, benefits and volume, etc., identify the most attractive segments and sub-segments and have different driving factors. The segmentation mentioned in the report has been arranged in such a way that it can help users to be more efficient in terms of time, investment, and other resources. It also allows businesses to learn more about their target audience so that they can tailor their strategies, and campaigns in increasing their market share and revenue.

The retail and consumer goods segment is expected to hold the largest share during the forecast period due to their frequent demand for consumer products in large quantities from their suppliers. Healthcare is expected to grow with the highest CAGR during the forecast period owing to the increasing need for medicines and other medical equipment among consumers, healthcare service providers, and research institutes.

Among regions, North America is expected to be the largest contributor during the forecast period due to the usage of advanced and automated solutions in day-to-day business operations. Asia Pacific is expected to grow with the highest CAGR owing to the growing digitalization of business processes in its major countries such as China, Singapore, Japan, South Korea, Australia, and India.

Report Customization Options

Stratview Research offers one of the following free customization options to the users along with this detailed report:

Company Profiling

  • Detailed brief of additional market players.
  • SWOT analysis of key players.
  • Competitive Benchmarking

Benchmarking of the market key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.