Electronic Data Interchange (EDI) Market is expected to reach US$ 58.98 billion by 2030

Growing Adoption of EDI Outsourcing Services to Provide Opportunities for Electronic Data Interchange (EDI) Market During 2022–2030

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.

The outsourcing of the EDI program is done via managed services by managing and implementing an EDI platform for a third-party provider. Outsourcing necessitates the organizations to access a wide range of abilities and capital investment of the hardware and software. Several companies are actively focusing on integrating EDI with their back-office systems, including an ERP system that helps achieve the demand for internal resources. Furthermore, the adoption of the managed services approach to EDI has become popular among organizations. The implementation of EDI outsourcing is more engaging than outsourcing across other areas of the IT industry, propelling the growth of the electronic data interchange (EDI) market. The significant aim of EDI outsourcing is to reduce the cost of investing in infrastructure by ensuring access to the right level of skills for delivering services to the customer. The implementation of EDI outsourcing offers various benefits, such as providing access to the modern technology, connecting with external systems, and providing access to value-added services to permit the user to trade globally. The EDI enhances business agility by allowing users to quickly enter new markets and boost business productivity by supplying further and advanced information related to performance, the supply chain, and the business partners. Therefore, the growing demand for EDI outsourcing services is expected to create an opportunity for the electronic data interchange (EDI) market growth.

Electronic Data Interchange (EDI) Market — by Geography, 2022

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Source: The Insight Partners Analysis

Mulesoft, LLC; SPS Commerce Inc.; TrueCommerce Inc.; IBM Corporation; Cleo; The Descartes Systems Group Inc.; Data Masons Software LLC; crossinx GmbH; EDICOM; Comarch SA; and InterTrade Systems, Inc are among the key electronic data interchange (EDI) market players profiled in the report. Several other major electronic data interchange (EDI) market players were also studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The electronic data interchange (EDI) market report provides detailed market insights, which help the key players strategize their growth.

The Canada Revenue Agency (CRA) established a series of circulars on electronic transactions, such as electronic invoicing (circular IC05-1R1), which will accelerate their use throughout the country. The use of EDI solutions is expected to rise in Canada in the coming years due to a large number of invoices prevailing within the country. Moreover, the Peppol network, an electronic ordering and e-invoice exchange platform, is widely used for B2B transactions in 32 countries, including the US, Canada, and Singapore.

Various EDI suppliers in Canada are expanding their presence through mergers and acquisitions. In January 2023, Crisp Inc. acquired Integral Group Inc., a Canadian EDI supplier, to expand supply chain visibility with EDI data and retail integrations. Crisp and Integral will facilitate supplier and retailer collaboration and provide seamless, end-to-end data integration inside the consumer-packaged goods enterprise. Mergers and acquisition strategies by market players drive the electronic data interchange (EDI) market growth in Canada.

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