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Electronic Data Interchange (EDI) Software Market to worth USD 5.07 Billion, growing at a 10.30% CAGR by 2032 – Report by Market Research Future (MRFR)

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New York, US, May 17, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Research Report by Market Research Future (MRFR), Electronic Data Interchange (EDI) Software Market By Type, By Industry, And By Region –Market Forecast Till 2032. Market Research Future (MRFR)’s report, Electronic Data Interchange (EDI) Software Market to Worth USD 5.07 Billion, Growing at a 10.30% CAGR by 2032.

EDI Software Market Scope:

When a company and its trading partners exchange business documents in a standardized electronic format, this is known as electronic data interchange (EDI). The most typical documents transferred with the use of EDI are invoices, purchase orders, and advance dispatch alerts. Bills of lading, payment paperwork, inventory documents, and shipment status documents are examples of additional documents. Organizations may regulate the data transfer across supply chain apps thanks to EDI.

Competition Dynamics

Leading market participants are putting strategic plans into action, including alliances, new launches, and product development. Companies also use mergers and acquisitions and collaborations to expand their markets. To grow and compete in a cutthroat market, the Electronic Data Interchange (EDI) Software sector must provide affordable products.

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Key Companies in the Electronic Data Interchange (EDI) Software market include:

  • Cleo
  • Comarch SA
  • Crossinx GmbH
  • Data Masons Software LLC
  • EDICOM
  • IBM Corporation
  • InterTrade Systems, Inc
  • Mulesoft, LLC
  • SPS Commerce, Inc.
  • The Descartes Systems Group Inc.
  • TrueCommerce Inc.

Electronic Data Interchange Software Market Report Scope:

Report Metrics Details
Electronic Data Interchange Software Market Size by 2032 USD 5.07 Billion
  CAGR during 2023-2032 10.30%
  Base Year 2022
  Forecast 2023-2032
 Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Key Market Dynamics   Increase adoption in various industries Rising new initiatives

Electronic Data Interchange Software Market Drivers

Businesses are investing in electronic data interchange solutions in the age of digital transformation to deal with the issues brought on by the data flood. Managers must now adopt EDI in businesses where many streaming devices and apps coexist. Due to the shortcomings of conventional solutions, these managers are frequently unsatisfied with the performance of EDI. For managing supply chain partners, value-added networks (VANs) as a hosted solution result in limited control over partner registration and administration. As a result, businesses offering electronic data interchange (EDI) solutions are creating software that utilizes AI and the Internet of Things (IoT).

Modern EDI solutions that are flexible and agile are becoming more and more in demand. This helps businesses embrace cutting-edge technology and adapt to the changing needs of their clientele. For managing trading partners and data mapping, EDI software is heavily marketed. Innovative software gateways are being created in the market for electronic data interchange solutions to automate the difficult EDI message processing. Thus, it is expected that the market CAGR will increase in the next years as a result of the increased automation of various operations.

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Demand for EDI platforms is driven by a rise in the adoption and use of EDI solutions. Applications for EDI systems include administration, financial management, inventory and logistics management, transportation and distribution, and more. With the use of these solutions, organizations may cut back on paperwork, transcribing mistakes, the amount of time it takes to respond to customer and procurement requests, inventory stock-out issues, and vendor payments. In many countries, different government regulatory authorities embrace EDI systems.

The need for EDI solutions is also being fueled by the adoption of cutting-edge technology by market players. Many businesses use cutting-edge technology like artificial intelligence, machine learning, and blockchain. There are several ways to send data securely and quickly through the EDI platform. These elements thereby increase the income of the Electronic Data Interchange (EDI) Software industry.

Market Limitations

Electronic data exchange (EDI) has its drawbacks, too, including high installation costs and lengthy solution deployment.

COVID-19 Analysis

The supply chain was badly impacted in 2020 as a result of lockdowns in several nations, which led to a fall in the size of the international market for electronic data interchange software. Major market industry verticals including automotive, manufacturing, transportation, and logistics were closed for a lengthier amount of time. As a result, this also had an impact on the income of providers of software for electronic data exchange.

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Marketing division

 By Component

With between 55% and 65% of market revenue coming from solutions, this sector dominated the industry. The market is expected to grow as digital technology is adopted more widely for workflow automation and IoT-connected devices.

By Type

In 2022, the market was led by the online EDI sector. The web-based electronic data interchange (EDI) segment is predicted to dominate the electronic data interchange (EDI) software market due to growing demand from small to medium-sized healthcare providers for its cost-effective solutions and greater flexibility and scalability.

By industry

The segment with the most revenue was transportation and logistics. New technology in logistics services, such carrier-based data analytics, delivery consolidation from numerous carriers, and automated scheduling, are to blame for this. Global data synchronization and the streamlining of Direct Store Delivery (DSD) processes are being driven by the increased usage of data exchange technologies in the retail industry.

Regional Analysis:

In 2022, this market will be dominated by the North American Electronic Data Interchange (EDI) Software market. The demand for data exchange solutions is rising as a result of the expansion of the region’s industrial, retail, healthcare, and automotive sectors. Over the course of the projection period, the U.S. is anticipated to gain the biggest market share thanks to a growth in digital business-to-business transactions.

The second-largest market for Electronic Data Interchange (EDI) software is located in Europe.  Europe is expected to expand at a large CAGR rate due to the abundance of data exchange solutions and instrument makers. In order to standardize and control electronic data exchange activities, the European United Nations has also accepted the ISO 9735 standard for electronic data transfer. Additionally, the UK’s market for electronic data interchange (EDI) software grew at the quickest rate in the European area, while Germany’s market had the biggest market share.

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From 2023 to 2032, the Electronic Data Interchange (EDI) Software Market in Asia-Pacific is predicted to see the quickest CAGR. The deployment of EDI solutions is projected to be fueled by rising investment and widespread industrial usage of digital technologies. In addition, it is projected that the Asia-Pacific market would be driven by economic development, legislative changes, and the rise of the IT sector. Additionally, the highest market share was maintained by the Electronic Data Interchange (EDI) Software market in China. The Asia-Pacific region’s fastest-growing market for Electronic Data Interchange (EDI) software was found in India.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future (Part of Wantstats Research and Media Private Limited)
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New York, NY 10013
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Email: [email protected]
Website: https://www.marketresearchfuture.com
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Artificial Intelligence

Sasken and JOYNEXT forge strategic partnership to accelerate innovation and expand global footprint

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BANGALORE, India, April 16, 2024 /PRNewswire/ — Sasken Technologies Limited, a leading provider of product development and digital transformation services, and JOYNEXT, a respected Tier1 player in the automotive industry, announced a strategic partnership to collaborate on the development and launch of cutting-edge platforms for both in-vehicle systems (navigation, digital cockpit and 5G telematics) and off-vehicle cloud and digital services leveraging emerging technologies for the automotive industry.

Sasken and JOYNEXT will leverage their complementary expertise, global presence, and strong ecosystems to deliver innovative and integrated solutions to the automotive industry. This collaboration will enable faster time to market with the best IPs and provide unparalleled support throughout the product development process. By combining JOYNEXT’s proven advanced automotive solutions with Sasken’s innovative automotive hardware and software capabilities, including chip-to-cloud cognitive engineering, connected car solutions, optimised edge computing solutions, computer vision, generative AI, and cybersecurity, the partnership aims to address the complex needs of the automotive market while delivering enhanced customer experiences.
“We are excited to collaborate with JOYNEXT, as their automotive industry expertise aligns perfectly with Sasken’s ambition to maintain a leadership position in the global automotive market,” said Mr. Abhijit Kabra, CEO, Sasken Technologies. “By leveraging our respective strengths, we can provide unique value to our customers and accelerate technological advancements in the automotive industry.”
The partnership began with a multi-year collaboration focused on automotive software maintenance for navigation and ASPICE compliance. It also includes the definition and implementation of enhancements for new products to keep pace with evolving Software Defined Vehicle (SDV) architectures. Sasken will drive the initiative to address EV challenges such as range anxiety, compatibility with navigation ecosystem players, increasing driver confidence by incorporating real-time data on charging points, driving terrains and integration with ADAS systems. Proprietary algorithms will optimise battery range for safer, more efficient journeys.
“We at JOYNEXT are excited to join forces with Sasken,” said Stavros Mitrakis, CEO of JOYNEXT. “By leveraging Sasken’s strong hardware and software capabilities and our extensive automotive domain knowledge, we will be able to develop solutions that not only address today’s challenges, but also anticipate the needs of the future. We are confident that this partnership will enhance our product offering and enable us to deliver more innovative, safer, and more enjoyable driving experiences to our customers.”
The aim of the partnership between Sasken and JOYNEXT is not only to push the boundaries of product innovation, but also to ensure that products reach the market more efficiently, equipped with the latest technology and tailored to meet the ever-changing demands of consumers.
About Sasken:
Sasken is a specialist in Product Engineering and Digital Transformation providing concept-to-market, chip-to-cognition engineering R&D and Digital Transformation services to global leaders in Automotive, Semiconductor, Transportation, Industrials, Consumer Electronics, Enterprise Devices, SatCom and Telecom industries. For over 30 years and with multiple patents, Sasken has transformed the businesses of 100+ Fortune 500 companies, powering more than a billion devices through its services and IP. For more information, visit www.sasken.com 
JOYNEXT – WE CONNECT FUTURE
JOYNEXT is a leading AutoTech company, the Automotive Connectivity Business Unit of Joyson Electronics. Headquarters in China, JOYNEXT marks our global presence in Germany, Poland, France, US, Japan, etc. We develop technologies for intelligent connected vehicles and provide a highly personalized mobility experience that is empathic, safe, and adaptable. Our 1,500+ employees work at 7 R&D centers, 3 global manufacturing locations, and 4 customer canters around the world.
For more than two decades, JOYNEXT has been working as the development partner and system supplier of renowned car manufacturers and established long-term partnerships with various well-known OEMs. Our intelligent cockpit and smart connectivity products are equipped in millions of vehicles worldwide, complemented by our capabilities in developing autonomous driving technologies and software products, which lay a solid foundation for the cockpit and driving fusion facing the era of Central Computing Units.
Balancing innovation with sustainability, we are committed to contributing to industry transformation together with our eco-partners, such as Microsoft, HUAWEI, Qualcomm, Horizon Robotics, Black Sesame, Elektrobit, and QNX to deliver a smarter driving experience for end users. www.JOYNEXT.com
Media Contact:Rekha Sahay GhoshHead of Marketing & CommunicationsE: [email protected]: +91 080 6694 3009
Sasken Technologies Limited139/25, Ring Road, Domlur, Bengaluru 560071, IndiaT: +91 80 6694 3000, E: [email protected]: L72100KA1989PLC014226 | www.sasken.com
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IDnow bridges the AI-human divide with new expert-led video verification solution

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New VideoIdent Flex elevates trust with a human touch in the face of rising fraud and the closing of physical bank branches
LONDON, April 16, 2024 /PRNewswire/ — IDnow, a leading identity verification provider in Europe, has unveiled VideoIdent Flex, a new version of its expert-led video verification service that blends advanced AI technology with human interaction. The human-based video call solution, supported by AI, has been designed and built to boost customer conversion rates, reduce rising fraud attempts, increase inclusivity, and tackle an array of complex online verification scenarios, while offering a high-end service experience to end customers.

The company’s original expert-led product, VideoIdent, has been a cornerstone in identity verification for over a decade, serving the strictest requirements in highly regulated industries across Europe. VideoIdent Flex, re-engineered specifically for the UK market, represents a significant evolution, addressing the growing challenges of identity fraud, compliance related to Know-Your-Customer (KYC) and Anti-Money Laundering (AML) processes and ensuring fair access and inclusivity in today’s digital world outside of fully automated processes.
Empowering businesses with flexible human-based identity verification
As remote identity verification becomes more crucial yet more challenging, VideoIdent Flex combines high-quality live video identity verification with hundreds of trained verification experts, thus ensuring that genuine customers gain equal access to digital services while effectively deterring fraudsters and money mules. Unlike fully automated solutions based on document liveness and biometric liveness features, this human-machine collaboration not only boosts onboarding rates and prevents fraud but also strengthens trust and confidence in both end users and organisations. VideoIdent Flex can also serve as a fallback service in case a fully automated solution fails.
Bertrand Bouteloup, Chief Commercial Officer at IDnow, commented: “VideoIdent Flex marks a groundbreaking advancement in identity verification, merging AI-based technology with human intuition. In a landscape of evolving fraud tactics and steady UK bank branch closures, our solution draws on our decade’s worth of video verification experience and fraud insights, empowering UK businesses to maintain a competitive edge by offering a white glove service for VIP onboarding. With its unique combination of KYC-compliant identity verification, real-time fraud prevention solutions, and expert support, VideoIdent Flex is a powerful tool for the UK market.”
Whereas previously firms may have found video identification solutions to be excessive for their compliance requirement or out of reach due to costs, VideoIdent Flex opens up this option by customising checks as required by the respective regulatory bodies in financial services, mobility, telecommunications or gaming, to offer a streamlined solution fit for every industry and geography.
Customisable real-time fraud prevention for high levels of assurance
VideoIdent Flex has a number of key features and benefits:
Customisable: Pre-defined configurations to meet specific industry requirements and regional regulations.Expert-led: High-quality live video verification conducted by trained identity verification experts, ensuring accuracy, reliability, and compliance for high levels of assurance.Extensive document coverage: Support for a wide range of documents, facilitating global expansion and inclusivity.Real-time fraud prevention: Advanced fraud detection capabilities, including AI-driven analysis and manual checks, combat evolving fraud tactics and help protect against social engineering fraud, document tampering, projection and deepfakes, especially for high-risk use cases and goods.Verification of high-risk individuals: Reviewing applications from high-risk persons, such as Politically Exposed Persons (PEPs), high-risk countries; or assessing where fraud might be expected with real-time decisions, without alerting suspicion.Bouteloup concluded: “Identity verification is incredibly nuanced; it’s as intricate as we are as human beings. This really compounds the importance of adopting a hybrid approach to identity – capitalising on the dual benefits of advanced technology when combined with human knowledge and awareness of social cues. With bank branches in the UK closing down, especially in the countryside, and interactions becoming more and more digital, our solution offers a means to maintain a human relationship between businesses and their end customers, no matter their age, disability or neurodiversity.   
“VideoIdent Flex is designed from the ground up for organisations that cannot depend on a one-size-fits-all approach to ensuring their customers are who they say they are. In a world where fraud is consistently increasing, our video capability paired with our experts adds a powerful layer of security, especially for those businesses and customers that require a face-to-face interaction.”
About IDnow
IDnow is a leading identity verification platform provider in Europe with a vision to make the connected world a safer place. The IDnow platform provides a broad portfolio of identity verification solutions, ranging from automated to human-assisted from purely online to point-of-sale, each of them optimized for user conversion rates and security.
In 2021, IDnow acquired the French market leader for identity technology, ARIADNEXT, and the German identity Trust Management AG, enabling IDnow to offer its customers one of the broadest identification solutions through a single, integrated platform.
The company has offices in Germany, United Kingdom, and France and is backed by renowned institutional investors, including Corsair Capital and Seventure Partners. Its portfolio of over 900 international clients spans a wide range of industries, and includes leading international players, such as UniCredit, Telefonica, Sixt, Crédit Agricole, BNP, and Munich Re, as well as digital champions like N26, Solarisbank, Younited Credit, BoursoBank, Klarna and Tier mobility.
Press contact IDnowKatherina [email protected]+49 89 41324 6030
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MYCOM OSI Launches AInsights Availability in AWS Marketplace

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LONDON, April 16, 2024 /PRNewswire/ — MYCOM OSI, a leading independent provider of Network Assurance and Service Experience Assurance solutions to some of the world’s largest communications service providers (CSPs), announced today that AInsights, is now available in AWS Marketplace, a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software that runs on Amazon Web Services (AWS). 

AInsights application offers predictive AI-based insights, combined with a comprehensive Data Fabric that powers Big Data Lakes with normalized network and service data. This critical enhancement to MYCOM OSI’s EAA suite enables CSPs to continuously predict the performance of their network and services, and to proactively identify and resolve problems before they impact their customers. This is specifically essential for the delivery and the assurance of high reliability and low latency 5G enterprise services.
The MYCOM OSI AInsights application is available as part of its SaaS offering operated on Amazon Web Services (AWS) as well as the CSPs’ hybrid cloud architecture. With this, MYCOM OSI customers and partners will benefit from high scalability and low-error predictive data insights from the network and its services in near real-time. AInsights’ replicable data models can be applied to different network functions for a deeper 360-degree network view. A factory approach using Open APIs enables intelligent data to be consumed seamlessly by any component of the CSP ecosystem.
AWS customers will now have access to AInsights, enabling predictive operations and assurance of CSP networks, directly within AWS Marketplace. This provides AWS customers with the ability to streamline the purchase and management of AInsights application within their AWS Marketplace account. 
“We are delighted to offer AInsights’ unique AI-driven insights to communications service providers to support their growth and transformation plans through AWS Marketplace,” said Mounir Ladki, President and CTO at MYCOM OSI. “With AInsights, CSPs can rapidly move from reactive to predictive assurance and operations of their networks and services. By accessing AInsights in AWS Marketplace, customers can quickly take their first step in achieving benefits of predictive AI-based insights to automate network operations and maximize customer experience.”
AInsights is now generally available in AWS Marketplace. Please visit https://aws.amazon.com/marketplace/pp/prodview-p4ikrghvc24dq for more information.
For information on MYCOM OSI and its Service Assurance offerings please visit www.mycom-osi.com. To arrange a discussion with MYCOM OSI, click here or contact the team at [email protected], +447719820492

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