Electronic data interchange (EDI) is a process of transaction of business documents basically standard electronic format between the organization and trade partners. For instance, some of the common materials that are interchanged with the help of EDI are invoices, purchase orders, and advance ship notices. However, there are numerous other documents such as customs documents, bill of lading, inventory documents, payment documents, and shipping status documents. EDI allows organizations to regulate the exchange of data between supply chain applications. EDI helps the organization and guarantees about the business-critical data to be sent on time. The EDI replaces traditional business communication with mail preparation and automatic handling. Though, it helps the organizations to standardize the information interchanged via business documents, which makes it a paperless exchange. An efficient EDI transaction enhances the overall data exchange process with seamless automation of B2B workflows, as well as effective integration of the external and internal systems, cloud ecosystems, and applications. Additionally, many governments are mandating the adoption of EDI solution to do business in specific countries for receiving and sending data from organizations to trading partners. EDI solution providers are offering various solutions with benefits such as compliance features to tackle the complex country regulations as well as to protect them from any risk associated with the regulatory compliances that affect "procure to pay" and "order to cash" business processes. The EDI standard formats of a document on which the data interchange depends is managed and efficiently interpreted by computers, so that it can be easily understood by both parties. The EDI solutions permit organizations to enhance the overall workflow performance, which is one of the significant factors that drive the global EDI market during the forecast period.
The global EDI market is segmented on the basis of component, type, and industry. Based on solution, the market is segmented into solution and services. Based on type, the market is segmented into Direct EDI, EDI via AS2, EDI via VAN, Mobile EDI, Web EDI, EDI outsourcing, and Others. Based on industry, the market is segmented into BFSI, Retail and consumer goods, healthcare, IT and telecommunication, transportation and logistics, and others.
Mulesoft, LLC, SPS Commerce, Inc., TrueCommerce Inc., IBM Corporation, Cleo, The Descartes Systems Group Inc., Data Masons Software LLC, crossinx GmbH, EDICOM, and Comarch SA are a few of the key players operating in the global EDI market.
The global EDI market size has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the EDI market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the EDI market.