Electronic Data Interchange (EDI) Software Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment(Cloud, On- Premises), By Region - Industry Forecast 2024-2031

Electronic Data Interchange (EDI) Software Market size was valued at USD 1.7 billion in 2019 and is poised to grow from USD 1.9 billion in 2023 to USD 5.09 billion by 2031, growing at a CAGR of 11.6% in the forecast period (2024-2031).

TrueCommerce EDI, Boomi B2B EDI, Epicor EDI, and other programmes are among those that are included in the scope. The inclination of major enterprises for in-house processing, digital transformation, and process automation is the main factor driving the market's growth. Additionally, it is anticipated that throughout the projected period, the increasing acceptance of electronic data transactions across several sectors would fuel market expansion. To increase their position in the market, the leading software suppliers are concentrating on implementing a variety of marketing methods, such as joint ventures, mergers & acquisitions, and others. For example, in October 2019, Epicor Software Corporation bought 1 EDI Source, Inc., one of the top suppliers of business visibility software and solutions. The purpose is to provide a variety of software solutions for data communication to Epicor's existing and new customers.

The COVID-19 pandemic had a large effect on the market in 2019 and 2021. The electronic data interchange method is only one of several corporate operations across all industries that have suffered. In the midst of the pandemic, businesses in the retail, logistics, manufacturing, and healthcare sectors saw significant adjustments in their business models and approaches to customer service. The need for Electronic Data Interchange (EDI) software is expected to increase due to the major changes and increased demand for supply chain procedures that are more seamless. To provide lifelong access to the data, the retail, healthcare, and other industrial sectors have begun using cloud-based data interchange software. Government agencies and organisations throughout the world are concentrating on enlisting recovery measures for the impact of COVID-19. The use of contactless digital payment methods like quick response (QR) codes, near-field communications (NFC), facial recognition, and others helped various countries deal with the COVID-19 crisis in April 2020, according to the World Economic Forum (WEF). This accelerated the use of electronic paperless transactions. Numerous businesses are choosing cutting-edge contact-less technologies to stop the coronavirus from spreading. For instance, a cross-platform logistics-as-a-service was introduced in January 2022 by Microsoft Corporation and FedEx Corporation. This platform connects with several order management programmes, including enterprise resource planning, electronic data interchange, and other ordering channels, as well as online e-commerce platforms. In order to provide a productive client experience in the upcoming years, it is expected that the need for Electronic Data Interchange (EDI) software would increase dramatically.

US Electronic Data Interchange (EDI) Software Market  is poised to grow at a sustainable CAGR for the next forecast year.