
Europe Electronic Data Interchange (EDI) Market
No. of Pages: 110 | Report Code: TIPRE00012197 | Category: Technology, Media and Telecommunications
No. of Pages: 110 | Report Code: TIPRE00012197 | Category: Technology, Media and Telecommunications
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 Europe 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.
The European electronic data interchange (EDI) market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Rest of Europe includes countries such as Spain, the Netherlands, Turkey, Switzerland, Poland, Sweden, Belgium, and Norway. Europe has a growing EDI market, with Germany and the UK leading the market growth. France, Estonia, Portugal, and Croatia are among the countries working aggressively to bring B2G e-invoicing mandate. Furthermore, B2B e-invoicing mandates are planned in France and Serbia from 2023 and 2022, respectively. In Europe, adoption of electronic and digital processes/solutions is high among businesses, and governments in various countries use EDI solutions. The wide market fragmentation and high cross-border trade between European countries drive the demand for efficient invoicing solutions.
The financial services industry across Europe is transforming its traditional way of offering banking and financial services to its customers. The rising adoption of digital finance is impacting the industry across Europe. Digital finance comprises a wide-range of products, processes, applications, and business models. Investments in new and advanced technologies are increasing substantially at a greater pace, which permits financial institutes to adopt EDI solutions. With these solutions and new tools, it becomes easier to make payments, investments, and money transfer. The integration of artificial intelligence, machine learning, social networks, mobile applications, cloud computing, distributed ledger technology, and big data analytics is boosting the innovation of new business and service models across financial institutions in the region. This aspect will boost the business of EDI.
Key industry associations, public administrations, tax authorities, and regulatory bodies in various European countries are complementing the growth of the EDI market by supporting the development of various standards and format interoperability.
The Europe electronic data interchange (EDI) market is segmented based on component, type, industry, and country.
Based on component, the Europe electronic data interchange (EDI) market is bifurcated into solution and services. The solution segment held a larger Europe electronic data interchange (EDI) market share in 2022.
In terms of type, the Europe 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 the largest Europe electronic data interchange (EDI) market share in 2022.
By industry, the Europe 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 the largest Europe electronic data interchange (EDI) market share in 2022.
Based on country, the Europe electronic data interchange (EDI) market is categorized into the Germany, France, the UK, Italy, Russia, and the Rest of Europe. Germany dominated the Europe electronic data interchange (EDI) market in 2022.
Boomi Inc, Cerner Corp, Cleo, Comarch SA, Crossinx GmbH, EDICOM, GoAnywhere MFT, International Business Machines Corp, Mulesoft LLC, Optum Inc, SPS Commerce Inc, The Descartes Systems Group Inc, and TrueCommerce Inc are some of the leading companies operating in the Europe electronic data interchange (EDI) market.
The Europe Electronic Data Interchange (EDI) Market is valued at US$ 7,921.20 Million in 2022, it is projected to reach US$ 17,271.06 Million by 2030.
As per our report Europe Electronic Data Interchange (EDI) Market, the market size is valued at US$ 7,921.20 Million in 2022, projecting it to reach US$ 17,271.06 Million by 2030. This translates to a CAGR of approximately 10.2% during the forecast period.
The Europe Electronic Data Interchange (EDI) Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Electronic Data Interchange (EDI) Market report:
The Europe Electronic Data Interchange (EDI) Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Electronic Data Interchange (EDI) Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Electronic Data Interchange (EDI) Market value chain can benefit from the information contained in a comprehensive market report.