Electronic Data Interchange (EDI) Market
Electronic
data interchange (EDI) refers to transaction of business
documents in a standard electronic format between business partners. For
instance, common documents that are exchanged with the help of EDI are
invoices, advance ship notices, and purchase orders. However, there are several
other documents such as inventory documents, bill of lading, customs documents,
payment documents, and shipping status documents. Electronic data interchange
helps organizations to standardize the interchange of data between applications
across the supply chain. This procedure guarantees that business-critical data
is sent on time. Electronic data interchange replaces the mail preparation and
handling associated with the traditional business communication. However, EDI
helps to standardize the information communicated in business documents, which
makes it a paperless exchange.
Key players operating in the global electronic data
interchange (EDI) market include:
MuleSoft, Cleo, Capario, Inc., Optum, Inc., Dell Boomi, and Cerner Corporation.
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The global electronic data interchange (EDI) market can be
segmented based on component, type, end-use industry, and region. In terms of
component, the market can be bifurcated into solutions and services. The
service segment is anticipated to hold the largest market share. Based on type,
the global electronic data interchange market can be classified into direct
EDI, EDI via VAN, EDI via AS2, web EDI, mobile EDI, EDI outsourcing, EDI
software, and others. In terms of end-use industry, the electronic data
interchange (EDI) market can be categorized into automotive, banking, financial
services & insurance, telecommunication & information technology,
retail & consumer goods, manufacturing, healthcare, logistics, and others.
The banking, financial services & insurance segment is anticipated to
account for the largest market share, as this industry depends on the ability
to process accounts payable and receivables, as well as managing investments
and loans on behalf of its customers, both retail and wholesale.
Additionally, the evolution of international trade has
formed interdependencies between suppliers and buyers across the globe,
resulting in the globalization of financial supply chain. Difficulties arise
when working across worldwide boundaries which includes currencies,
regulations, and accounting practices. Electronic data interchange (EDI)
lessens these difficulties by bringing into track the financial supply chain
data. A totally programmed financial supply chain allows accurate, seamless,
and timely interchange of financial data between buyers, suppliers, and their
financial institutions.
Our key underpinning
is the 4-Quadrant Framework EIRS that offers detailed visualization of four
elements:
- Customer Experience
Maps
- Insights
and Tools based on data-driven research
- Actionable Results
to meet all the business priorities
- Strategic
Frameworks to boost the growth journey
The study strives to evaluate the current and future growth
prospects, untapped avenues, factors shaping their revenue potential, and
demand and consumption patterns in the global market by breaking it into region-wise
assessment.
The following
regional segments are covered comprehensively:
- North
America
- Asia
Pacific
- Europe
- Latin
America
- The
Middle East and Africa
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The report sheds light on various aspects and answers
pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing
into new product and service lines?
2. What value propositions should businesses aim at while
making new research and development funding?
3. Which regulations will be most helpful for stakeholders
to boost their supply chain network?
4. Which regions might see the demand maturing in certain
segments in near future?
5. What are the some of the best cost optimization
strategies with vendors that some well-entrenched players have gained success
with?
6. Which are the key perspectives that the C-suite are
leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status
of key regional markets?
8. How will the emerging political and economic scenario
affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various
segments?
10. What will be the barrier to entry for new players in the
market?
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