At 9.3% CAGR, North America Electronic Data Interchange Market is Projected to be Worth US$ 21,712.82 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the North America electronic data interchange market was valued at US$ 10,636.95 million in 2023 and is expected to reach US$ 21,712.82 million by 2031, registering a CAGR of 9.3% from 2023 to 2031. Growing adoption of EDI in SMEs and rising adoption of EDI solution with blockchain technology are among the critical factors attributed to drive the North America electronic data interchange market growth.

Electronic data interchange (EDI) is utilized regularly among small and mid-sized businesses. As SMEs have fewer resources and human capital, EDI enables them to automate processes instead of relying on traditional methods. Moreover, it enables a variety of documents and data to be shared with EDI rules and standards for the entire electronic interchange process. It comprises transmission, message flow, document format, and software utilized to send and receive documents in the SMEs. In addition, SMEs account for most businesses globally. According to the World Bank, they account for about 90% of businesses. Thus, the growing adoption of EDI among SMEs has substantially propelled the market share of these EDI solutions. The increased adoption can lead to higher revenue generation for EDI providers. Owing to the growing utilization of EDI by SMEs, providers are making EDI solutions more affordable and accessible for expanding their businesses. Further, small- and medium-sized businesses investing in EDI enable them to trade with larger organizations while simultaneously handling more business transactions. Overall, EDI helps SMEs operate more efficiently while allowing them to process more transactions and conduct business with larger organizations.

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

Based on component, the North America electronic data interchange market is bifurcated into solutions and services. The solutions segment held 65.9% market share in 2023, amassing US$ 7,010.93 million. It is projected to garner US$ 15,133.68 million by 2031 to register 10.1% CAGR during 2023–2031.

In terms of type, the North America 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 28.8% share of North America electronic data interchange market in 2023, amassing US$ 3,059.80 million. It is anticipated to garner US$ 6,817.89 million by 2031 to expand at 10.5% CAGR during 2023–2031.

By industry, the North America electronic data interchange market is segmented into BFSI, retail & consumer goods, healthcare, IT & telecommunication, transportation & logistics, and others. The retail & consumer goods segment held 30.6% share of North America electronic data interchange market in 2023, amassing US$ 3,251.14 million. It is projected to garner US$ 5,880.61 million by 2031 to expand at 7.7% CAGR from 2023 to 2031.

Based on country, the North America electronic data interchange market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 86.5% share of North America electronic data interchange market in 2023. It was assessed at US$ 9,200.83 million in 2023 and is likely to hit US$ 19,236.82 million by 2031, registering a CAGR of 9.7% during 2023–2031.

Key players operating in the North America 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 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.
• In February 2021, With its EDI platform, Comarch gave the customer the opportunity to embark on its digital transformation path and thus become more competitive in other markets.

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