According to the new research report on "Electronic Data Interchange (EDI) Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis," published by The Insight Partners, the market is expected to reach US$ 58.98 billion by 2030 and register a CAGR of 9.8% from 2022 to 2030.
The US, Canada, and Mexico are major economies in North America. The US is a developed country in terms of modern technology and developed IT infrastructure. Technological advancements have led to highly competitive markets across North America. The region hosts several technological giants that invest significant amounts in developing robust technologies. The US has clearly past the phase of early adoption of EDI solutions. With continuous increases in data transactions in B2C, B2B, and more, many organizations and their partners are projected to report business growth in the future. Huge numbers of enterprises are showing interest in EDI solutions to interchange their data accurately, efficiently, and safely, propelling the growth of the electronic data interchange (EDI) market. The US has several service providers offering automated EDI solutions. The country’s organizations and government are showing interest in opting and promoting EDI solutions. The adoption of EDI solutions has resulted in increased efficiency and cost savings throughout the US government, which motivates other organizations to follow the same. EDI implementation is rising in the region at a sustainable pace due to emerging technologies and rising investments in on-the-cloud systems by organizations, boosting the growth of the electronic data interchange (EDI) market.
The growing spending on adoption of cloud services in North America and presence of potential opportunities across next-generation IT technology in the healthcare and BFSI sectors propel the electronic data interchange (EDI) market growth. The demand for EDI services is rising in the healthcare sector due to the emerging trend of outsourcing activities, including claims handling and management, revenue cycle management, and partner management services. The region has a developed healthcare infrastructure, favorable regulatory scenarios, and broad insurance coverage. It also reports rising demand for healthcare supply chain management solutions, growing number of private healthcare market players, and the presence of well-known healthcare IT companies.
In North America, various electronic data interchange (EDI) service providers are launching their platforms for the healthcare industry. In September 2022, Prodigo Solutions, Inc launched its next-generation EDI platform for the healthcare industry to improve the processing time between trading partners. Healthcare clients of Prodigo Solutions, Inc. continue to use EDI as a key enabler of their supply chain modernization activities to increase vendor community penetration and automate transactions. In February 2018, Global Healthcare Exchange, LLC launched a new GHX EDI Mapping solution for healthcare suppliers to reduce costs and increase e-commerce connections to trading partners without adding internal EDI resources. The GHX EDI Mapping provides a cloud-based platform to translate supply chain trading partner transactional information into ERP-specific formats. Thus, the growing product launches are driving the growth of the electronic data interchange (EDI) market in the healthcare industry in North America.
The electronic data interchange (EDI) market size is segmented based on component, type, industry, and geography. Based on components, the electronic data interchange (EDI) market is bifurcated into solutions and services. Based on type, the electronic data interchange (EDI) market is segmented into direct EDI, EDI via AS2, EDI via VAN, mobile EDI, web EDI, EDI outsourcing, and others. Based on industry, the electronic data interchange (EDI) market is divided into BFSI, Retail & Consumer Goods, Healthcare, IT & Telecommunication, Transportation and Logistics, and Others. Geographically, the electronic data interchange (EDI) market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
Key Findings of Study:
In North America, the US holds the largest share in the electronic data interchange (EDI) market. Numerous electronic data interchange solution providers in the US are extending their market share in EDI software solutions to automate and integrate B2B transactions. In October 2019, Epicor Software Corporation bought 1 EDI Source, Inc., a top EDI solutions and business visibility software supplier, to support corporate development. Adding 1 EDI Source to the Epicor Software Corporation product line allows clients to select the best alternative to suit their business needs. The platform is a standalone offering or a fully managed service. Thus, the growing merger and acquisition by market players is boosting the electronic data interchange (EDI) market growth in the US.
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