Rising Adoption of Electronic Data Interchange (EDI) Transactions and Standards to Ensure Seamless Workflow Fuels Europe Electronic Data Interchange (EDI) Market Growth
According to the latest market study on “Europe Electronic Data Interchange (EDI) Market Forecast to 2028 – COVID-19 Impact and Analysis – by Component, Type, and Industry,” the market is projected to reach US$ 15,209.3 million by 2028 from US$ 7,054.8 million in 2021; it is expected to grow at a CAGR of 11.6% from 2021 to 2028.
An Electronic Data Interchange (EDI) document comprises a minimum amount of vital data to ensure smooth Electronic Data Interchange (EDI) transactions. The organizations have to adhere to stringent Electronic Data Interchange (EDI) formatting rules to retrieve the relevant information from the document. The Electronic Data Interchange (EDI) document comprises dozens of transaction numbers from the Electronic Data Interchange (EDI) public format. For instance, a purchase order (PO) is assigned to invoice number 810 and Electronic Data Interchange (EDI) transaction number 850. Thus, the Electronic Data Interchange (EDI) translator obtains an Electronic Data Interchange (EDI) 850 PO document that easily recognizes the order number, items in the order, the company name of the buyer, and the price per item. An efficient Electronic Data Interchange (EDI) transaction enhances the overall data exchange process with a seamless automation of B2B workflows and effective integration of the external and internal systems, cloud ecosystems, and applications. The wide-ranging functionality of Electronic Data Interchange (EDI) is driving the Europe Electronic Data Interchange (EDI) market growth.
The Europe Electronic Data Interchange (EDI) market is segmented on the basis of component, type, and industry. Based on component, the market is bifurcated into solution and services. In terms of type, the Europe Electronic Data Interchange (EDI) market is segmented into Electronic Data Interchange (EDI) VAN, Web Electronic Data Interchange (EDI), Electronic Data Interchange (EDI) Outsourcing, Electronic Data Interchange (EDI) Software, Direct Electronic Data Interchange (EDI), and others. By industry, the market is segmented into BFSI, retail and consumer goods, healthcare, IT and telecommunication, transportation and logistics, and others.
Mulesoft, LLC; SPS Commerce, Inc.; TrueCommerce Inc.; IBM Corporation; Cleo; The Descartes Systems Group Inc.; EDICOM; Comarch SA; Unifiedpost Group; and Generix Group are among the key companies profiled in the Europe Electronic Data Interchange (EDI)s market. Several other players are also functioning in the Europe Electronic Data Interchange (EDI) market, contributing significant revenue shares year-on-year.
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