At 6.9% CAGR, South & Central America Electronic Data Interchange Market is Projected to be Worth US$ 1,217.80 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the South & Central America electronic data interchange market was valued at US$ 713.75 million in 2023 and is expected to reach US$ 1,217.80 million by 2031, registering a CAGR of 6.9% from 2023 to 2031. Rising adoption of EDI solution with blockchain technology and deployment of cloud-based EDI are among the critical factors attributed to drive the South & Central America electronic data interchange market growth.

Blockchain is a revolutionary technology transforming business processes across many industries, from retail to logistics. It is deployed to transform the payment and invoice industry globally by offering easy access and highly secure solutions for end customers. The growing integration of blockchain technology due to successful proof of concepts across various industries such as IT & telecom, BFSI, transportation, and logistics demands EDI solutions for efficient data interchange. A few blockchain applications consist of high-security applications, data of multiple parties, and tracking of goods from origin to end user. However, according to a few industry experts, blockchain technology cannot replace the B2B transactional methodology; it is suggested to be used as an add-on to EDI for producing a better business outcome instead of replacing the overall EDI solution with blockchain technology. Therefore, with the mounting digitalization of payment as well as invoice processes across diversified businesses, the adoption of blockchain technology is expected to lead to the future growth of the EDI market.

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

Based on component, the South & Central America electronic data interchange market is bifurcated into solutions and services. The solutions segment held 67.0% market share in 2023, amassing US$ 478.55 million. It is projected to garner US$ 853.62 million by 2031 to register 7.5% CAGR during 2023–2031.

In terms of type, the South & Central 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 30.7% share of South & Central America electronic data interchange market in 2023, amassing US$ 218.94 million. It is anticipated to garner US$ 402.95 million by 2031 to expand at 7.9% CAGR during 2023–2031.

By industry, the South & Central 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 31.2% share of South & Central America electronic data interchange market in 2023, amassing US$ 222.34 million. It is projected to garner US$ 335.13 million by 2031 to expand at 5.3% CAGR from 2023 to 2031.

Based on country, the South & Central America electronic data interchange market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 68.7% share of South & Central America electronic data interchange market in 2023. It was assessed at US$ 490.36 million in 2023 and is likely to hit US$ 861.87 million by 2031, registering a CAGR of 7.3% during 2023–2031.

Key players operating in the South & Central 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; The Descartes Systems Group Inc; Crossinx GmbH; EDICOM; Comarch SA; and InterTrade Systems, Inc. among others.

• 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.
• 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.

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