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Market Snapshot

CAGR:6.09

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	6.09

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Report Overview

Procurement Software Market Analysis Report 2023-2032

The Procurement Software Market is anticipated to witness significant growth, with an estimated Compound Annual Growth Rate (CAGR) of 9.62% from 2022 to 2032. This growth is projected to result in a market size expansion of USD 13,298.45 million. The Procurement Software industry is driven by several factors, including the increasing adoption of digital procurement solutions, the need for efficient supplier management, and the focus on cost optimization.

Procurement Software Market Overview

Drivers

The growth of the Procurement Software market is driven by the increasing adoption of digital procurement solutions. Organizations are recognizing the benefits of digitizing procurement processes, including improved visibility, streamlined workflows, and better decision-making.

Furthermore, the need for efficient supplier management contributes to the market growth. Procurement software solutions offer tools for supplier onboarding, performance monitoring, and collaboration, enabling businesses to effectively manage their supplier relationships.

Trends

The integration of Artificial Intelligence (AI) and Machine Learning (ML) into procurement software solutions is a key trend. AI-powered procurement solutions can analyze historical purchasing data, predict demand, and optimize procurement strategies for cost savings and efficiency.

Moreover, the focus on sustainability and responsible sourcing is growing. Organizations are incorporating features into their procurement software to track and manage the environmental and ethical impact of their supply chains.

Restraints

Challenges related to data security and interoperability with existing systems pose obstacles in the Procurement Software market. Organizations need to ensure that their procurement software solutions comply with data privacy regulations and integrate seamlessly with other enterprise systems.

Additionally, the complexity of configuring and customizing procurement software to align with specific business processes can lead to implementation challenges.

Procurement Software Market Segmentation By Deployment

Within the Procurement Software deployment segment, the Cloud-based segment is expected to play a significant role in market growth. Cloud-based solutions offer scalability, accessibility, and cost-efficiency, making them suitable for businesses of all sizes.

Additionally, the On-premises segment remains relevant. Some organizations, especially those with data security concerns or regulatory requirements, opt for on-premises deployment to maintain control over their procurement environment.

Procurement Software Market Segmentation By Organization Size

Among the organization size segments, the Large Enterprises segment is anticipated to witness substantial growth during the forecast period. Large enterprises typically handle a higher volume of procurement transactions and have complex supplier relationships, making comprehensive procurement software solutions essential.

Moreover, the Small and Medium-sized Enterprises (SMEs) segment is also on the rise. As SMEs recognize the value of efficient procurement processes, the adoption of cost-effective and user-friendly procurement software solutions increases.

Regional Overview:

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North America is projected to be a major contributor to the global Procurement Software market growth, accounting for approximately 40% of the market share during the forecast period. The region's leadership is attributed to the high adoption of digital technologies, the need for efficient supply chain management, and the presence of leading procurement software solution providers.

Europe also holds a significant share in the Procurement Software market, driven by the emphasis on supply chain optimization and the adoption of digital procurement strategies.

The Asia-Pacific region is experiencing growth, fueled by the increasing awareness of procurement technology benefits, the expansion of e-commerce, and the focus on cost efficiency.

Procurement Software Market Customer Landscape

The Procurement Software market report encompasses an analysis of the customer lifecycle, from early adopters to late adopters. It delves into adoption rates across industries, providing insights into customer penetration. Additionally, the report identifies key purchase criteria and factors influencing price sensitivity, aiding businesses in devising effective growth strategies.

Major Procurement Software Market Companies

Companies in the Procurement Software market are implementing various strategies to enhance their market presence, including partnerships with supply chain technology providers, integration with e-procurement platforms, and innovation in spend analytics and supplier collaboration tools.

SAP SE: SAP offers a comprehensive Procurement Software suite that covers source-to-pay processes. Their solutions provide procurement analytics, supplier collaboration, and electronic sourcing features.
Oracle Corporation: Oracle provides Procurement Software solutions designed to streamline procurement processes and optimize supplier relationships. Their solutions offer e-procurement, contract management, and supplier risk management capabilities.
Coupa Software Inc.: Coupa offers a cloud-based Procurement Software platform that focuses on spend management, procurement automation, and supplier collaboration. Their solutions cater to both large enterprises and SMEs.

The competitive landscape analysis in the report offers comprehensive insights into market players, assessing their strengths, weaknesses, and positioning. The qualitative and quantitative data aids in categorizing companies based on their focus and dominance in the market.

Segment Overview

The Procurement Software market report forecasts revenue growth at global, regional, and country levels and provides a comprehensive analysis of trends and growth opportunities from 2019 to 2032.

Deployment Outlook (USD Million, 2019 - 2032)

Cloud-based
On-premises

Organization Size Outlook (USD Million, 2019 - 2032)

Large Enterprises
Small and Medium-sized Enterprises (SMEs)

Geography Outlook (USD Million, 2019 - 2032)

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

APAC

China
Japan
India
Rest of APAC

TABLE OF CONTENTS: GLOBAL Procurement software MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Procurement software MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Procurement software Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Procurement software MARKET BY Deployment type SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 On-premise

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Cloud

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Procurement software MARKET BY end user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Retail

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Manufacturing

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 Transportation and Logistics

6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Procurement software MARKET REGIONAL OUTLOOK

7.1. Procurement software Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Procurement software Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Procurement software Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Procurement software Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Procurement software Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Procurement software Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 SAP SE

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 Proactis Holdings Plc

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Ginesys (Ginni Systems Limited)

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 Epicor Software Corporation

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Coupa Software

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Company 6

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Procurement Software Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032