At 10.8% CAGR, Europe Electronic Data Interchange Market is Projected to be Worth US$ 19,400.15 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe electronic data interchange market was valued at US$ 8,560.49 million in 2023 and is expected to reach US$ 19,400.15 million by 2031, registering a CAGR of 10.8% from 2023 to 2031. Deployment of cloud-based EDI and growing adoption of EDI in SMEs are among the critical factors attributed to drive the Europe electronic data interchange market growth.

Cloud-based EDI is gradually getting highly adopted by businesses. Cloud EDI software provides a combination of technological and business process improvement design. From streamlined automation to data transformation capabilities, cloud EDI tools place an enterprise in a position to tackle potential integration challenges that occur without having to deploy and manage the software and hardware. Further, cloud-based EDI comprises several benefits, including:

• Flexibility and scalability: A cloud-based EDI managed services solution reduces the requirement to build a series of in-house point solutions, and its flexibility can scale as the business needs fluctuate.
• Provides cloud computing advantages: A cloud-based EDI solution offers cloud computing advantages. It reduces the capital expense of upgrading and purchasing hardware. 

Moreover, cloud-based EDI providers deliver their services via cutting-edge technology with nearly 100% uptime. Further, in January 2024, AWS introduced B2B Data Interchange, a platform enabling organizations to automate and monitor the transformation of EDI cloud-based business transactions. The service offers a low-code interface for managing trading partners and translating EDI documents into JSON and XML formats. Thus, the deployment of cloud-based EDI can drive significant improvements in cost-efficiency, scalability, security, and operational effectiveness, making it a substantial opportunity for the EDI market.

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

Based on component, the Europe electronic data interchange market is bifurcated into solutions and services. The solutions segment held 68.2% market share in 2023, amassing US$ 5,839.86 million. It is projected to garner US$ 13,993.41 million by 2031 to register 11.5% CAGR during 2023-2031.

In terms of type, the Europe 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 27.7% share of Europe electronic data interchange market in 2023, amassing US$ 2,372.41 million. It is anticipated to garner US$ 5,868.65 million by 2031 to expand at 11.7% CAGR during 2023-2031.

By industry, the Europe electronic data interchange market is segmented into BFSI, retail & consumer goods, healthcare, IT & telecommunication, transportation & logistics, and others. The retail & consumer goods segment held 28.2% share of Europe electronic data interchange market in 2023, amassing US$ 2,413.50 million. It is projected to garner US$ 4,846.83 million by 2031 to expand at 9.1% CAGR from 2023 to 2031.

Based on country, the Europe electronic data interchange market is categorized into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 30.8% share of Europe electronic data interchange market in 2023. It was assessed at US$ 2,638.67 million in 2023 and is likely to hit US$ 6,273.01 million by 2031, registering a CAGR of 11.4% during 2023-2031.

Key players operating in the Europe electronic data interchange market are MuleSoft, LLC; Optum Inc; 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 May 2024, R Systems International Limited (a Blackstone portfolio company), one of the leading digital product engineering and technology companies, launched a transformative solution at Boomi World 2024. EDI Partner Onboarding Solution is geared towards redefining supply chain management and empowering businesses with unparalleled efficiency and real-time insights. The launch of this solution underscores R Systems' steadfast commitment to client-centric solutions and addressing the dynamic needs of its clients by driving tangible business outcomes.
• In October 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.
  
  

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