Report : Asia Pacific Electronic Data Interchange (EDI) Market Forecast to 2030 – Regional Analysis – by Component (Solution, Services), Type (Direct EDI, EDI via AS2, EDI via VAN, Mobile EDI, Web EDI, EDI Outsourcing, Others), and Industry (BFSI, Retail and Consumer Goods, Healthcare, IT and Telecommunication, Transportation and Logistics, Others)
At 11.3% CAGR, the Asia Pacific Electronic Data Interchange (EDI) Market is Speculated to be Worth US$ 17,424.39 Million by 2030, Says Business Market Insights
According to Business Market Insights' research, the Asia Pacific electronic data interchange (EDI) market was valued at US$ 7,376.55 million in 2022 and is expected to reach US$ 17,424.39 million by 2030, registering a CAGR of 11.3% from 2022 to 2030. Growing adoption of EDI outsourcing services and rising digital transformation across industries are among the critical factors attributed to the Asia Pacific electronic data interchange (EDI) market expansion.
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, a large number of 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 Asia Pacific 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 the 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, emergence of security threats and attacks hampers the growth Asia Pacific electronic data interchange (EDI) market.
Based on component, the Asia Pacific electronic data interchange (EDI) market is bifurcated into solution and services. The solution segment held 69.6% share of the Asia Pacific electronic data interchange (EDI) market in 2022, amassing US$ 5,136.03 million. It is projected to garner US$ 12,827.93 million by 2030 to expand at 12.1% CAGR during 2022–2030.
In terms of type, the Asia Pacific electronic data interchange (EDI) market is categorized into direct EDI, EDI via AS2, EDI via VAN, mobile EDI, web EDI, EDI outsourcing, and others. The EDI via AS2 segment held 29.8% share of the Asia Pacific electronic data interchange (EDI) market in 2022, amassing US$ 2,194.89 million. It is projected to garner US$ 5,657.74 million by 2030 to expand at 12.6% CAGR during 2022–2030.
By industry, the Asia Pacific electronic data interchange (EDI) market is segmented into BFSI, retail and consumer goods, healthcare, IT and telecommunication, transportation and logistics, and others. The retail and consumer goods segment held 30.3% share of Asia Pacific electronic data interchange (EDI) market in 2022, amassing US$ 2,236.36 million. It is projected to garner US$ 4,680.16 million by 2030 to expand at 9.7% CAGR during 2022–2030.
Based on country, the Asia Pacific electronic data interchange (EDI) market is categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. China held 29.3% share of Asia Pacific electronic data interchange (EDI) market in 2022, amassing US$ 2,162.80 million. It is projected to garner US$ 5,892.56 million by 2030 to expand at 13.3% CAGR during 2022–2030.
Key players operating in the Asia Pacific electronic data interchange (EDI) market are Optum Inc, Pacific Commerce, SPS Commerce Inc, TrueCommerce Inc, Cerner Corp, International Business Machines Corp, Boomi Inc, GoAnywhere MFT, The Descartes Systems Group Inc, and Comarch SA, among others.
- In 2022, SPS Commerce acquired InterTrade, a wholly owned subsidiary of mdf commerce inc., and a provider of technical solutions for product, information and transaction data exchange between retailers and suppliers.
- In 2021, With its EDI platform, Comarch allowed the customer to embark on its digital transformation path and thus become more competitive in other markets.
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