At 11.9% CAGR, Asia Pacific Electronic Data Interchange Market is Projected to be Worth US$ 19,769.28 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific electronic data interchange market was valued at US$ 8,052.07 million in 2023 and is expected to reach US$ 19,769.28 million by 2031, registering a CAGR of 11.9% from 2023 to 2031. Rising digital transformation across industries and rising adoption of EDI solution with blockchain technology are among the critical factors attributed to drive the Asia Pacific electronic data interchange market growth.

Large and small enterprises are continuously investing in cloud computing, EDI solutions, web apps, artificial intelligence, predictive analytics, the Internet of Things, and big data, as digital technologies are constantly transforming industries across the globe and revolutionizing business processes by improving operational efficiency at reduced costs. The rising adoption of cloud computing is one of the substantial factors for deploying EDI technology and service consumption models. Organizations are diverting their focus on applications, data, connections, and cloud integration, including EDI. Although cloud computing has grown exponentially, there is a shortage of well-trained IT professionals. Process automation and digital transformation can create unparalleled opportunities for businesses to create more value and increase revenue. Invoicing is a considerable function in all business segments, including B2B and B2C, which require a substantial cost, time, and workforce. Along with paper-based invoices, many e-invoices are generated daily, thereby reducing the overall productivity cost of the business. The rising adoption of e-invoicing helps businesses save substantial costs associated with invoicing generation and transmission to end customers. Automating the invoicing process through e-invoicing offers several strategic and operational benefits to buyers, suppliers, and managers. A few advantages of EDI solutions include reduced costs, increased accuracy, faster payments, improved cash management, enhanced productivity, environmental benefits, and improved compliance. Thus, the rising adoption of innovative and digitalized solutions, such as EDI, drives global market growth. Shippers communicate with ship carriers and other transportation-related stakeholders through EDI technology. Instead of physically inputting information onto paper forms, shipping businesses may transfer information electronically through EDI. EDI also benefits organizations in terms of time and money savings. By utilizing EDI, shippers may automate billing, tracking shipments, and payment collection. EDI can also maintain inventories and handle client orders in the shipping sector. By removing mistakes and decreasing human data entry, EDI helps processes run more smoothly. Since there is less need for human interaction, processing paperwork takes less time. Various countries are deploying EDI in their shipping port. For instance, in December 2021, Japan provided US$ 12.2 million to construct a Port EDI system in Cambodia to speed up administrative and business work at all ports. According to Heang Sotheayuth, IT specialist at the Ministry of Public Works, the EDI on the shipping port will help to ease legal procedures for cargo ships at all ports in Japan. Such development propels the adoption of the EDI system in the shipping industry.

On the contrary, the emergence of security threats and attacks hampers the growth of Asia Pacific electronic data interchange market.

Based on component, the Asia Pacific electronic data interchange market is bifurcated into solutions and services. The solutions segment held 70.1% market share in 2023, amassing US$ 5,645.60 million. It is projected to garner US$ 14,656.09 million by 2031 to register 12.7% CAGR during 2023–2031.

In terms of type, the Asia Pacific electronic data interchange market is categorized into direct EDI, EDI via AS2, EDI via VAN, mobile EDI, web EDI, EDI outsourcing, and others. EDI via AS2 segment held 30.1% share of Asia Pacific electronic data interchange market in 2023, amassing US$ 2,422.17 million. It is anticipated to garner US$ 6,489.64 million by 2031 to expand at 13.1% CAGR during 2023–2031.

By industry, the Asia Pacific electronic data interchange market is segmented into BFSI, retail & consumer goods, healthcare, IT & telecommunication, transportation & logistics, and others. The retail & consumer goods segment held 29.9% share of Asia Pacific electronic data interchange market in 2023, amassing US$ 2,404.51 million. It is projected to garner US$ 5,230.19 million by 2031 to expand at 10.2% CAGR from 2023 to 2031.

Based on country, the Asia Pacific electronic data interchange market is categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 29.8% share of Asia Pacific electronic data interchange market in 2023. It was assessed at US$ 2,403.36 million in 2023 and is likely to hit US$ 6,805.89 million by 2031, registering a CAGR of 13.9% during 2023–2031.

Key players operating in the Asia Pacific electronic data interchange market are MuleSoft, LLC; Optum Inc; Pacific Commerce Pty Ltd; SPS Commerce Inc; TrueCommerce Inc; Cerner Corp; International Business Machines Corp; Boomi, Inc; GoAnywhere MFT; Cleo; The Descartes Systems Group Inc; Crossinx GmbH; EDICOM; Comarch SA; and InterTrade Systems, Inc. among others.

• In March 2023, Comarch was chosen primarily for its extensive global experience in EDI solution implementation in optimizing supply chain processes and its ability to ensure compliance with e-invoicing e-tax regulations in Thailand.
• In May 2024, TrueCommerce, a global provider of supply chain and trading partner connectivity, integration and omnichannel solutions, unveiled its groundbreaking electronic data interchange (EDI) integration with the SAP S/4HANA Cloud Public Edition.

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