The Procurement Analytics Market size was USD 4.1 Billion in 2023 and is predicted to grow with a CAGR of 21.9% by generating a revenue of USD 16.4 Billion by 2030
Procurement Analytics Market Overview:
The Procurement Analytics market study can be tailored to include pricing trend analysis of target brands, market insights for other countries, clinical trial results data, literature research, refurbished market and product base analysis, and more. Competitive analysis can range from technology-based research to market portfolio strategies. We can provide data on as many competitors as needed, in the format and type of your choice. Our analysts can also deliver data in raw excel files, pivot tables, or assist in creating presentations based on the report’s data sets.
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Procurement Analytics Market Scope:
The Procurement Analytics Market study provides insights into each of the top end users, with yearly estimates through 2030. The study forecasts global market revenue, sales, and growth rates, including forecasts for product, application, and geographic sectors. These forecasts help individuals understand the industry’s prospects and opportunities.
Procurement Analytics Market Drivers:
Organizations are increasingly embracing data-driven decision-making in procurement, recognizing the critical role of analytics in optimizing sourcing strategies and achieving cost savings. For instance, companies like Coca-Cola utilize advanced analytics to negotiate favorable terms with suppliers, leading to significant cost reductions.
The growing complexity of supply chains—fueled by globalization and an expanding network of suppliers—necessitates sophisticated analytics tools to manage risks and improve procurement efficiency. Walmart exemplifies this trend by using analytics to monitor supplier performance and mitigate potential disruptions.
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Procurement Analytics Market Segmentation:
by Components
Solutions
Services
by Organization Size
Small and Medium Enterprise (SME)
Large Enterprises
by Application
Supply Chain Analytics
Risk Analytics
Spend Analytics
Demand Forecasting
Contract Management
Vendor Management
by End-User
Banking, Financial Services, and Insurance
Government and Defence
Retail and eCommerce
Healthcare and Lifesciences
Telecom and IT
Energy and Utilities
Manufacturing
Others
Procurement Analytics Market Key Players:
The competitive landscape of the Procurement Analytics Market provides information on competitors, including business overviews, financials, revenue generated, market potential, R&D investment, new market efforts, global presence, production sites and facilities, production capacity, corporate strengths and weaknesses, product introduction, product width, and breadth, and application dominance. The data points relate to businesses focused on the Procurement Analytics industry. Key players include:
Major Contributors in the Procurement Analytics Market in North America:
1. Oracle Corporation (United States)
2. IBM Corporation (United States)
3. SAS Institute Inc. (United States)
4. Coupa Software Incorporated (United States)
5. Zycus Inc. (United States)
6. Genpact Limited (United States)
7. GEP (United States)
8. Jaggaer (United States)
9. BirchStreet Systems, Inc. (United States)
10. Determine, Inc. (United States)
11. Ivalua Inc. (United States)
12. Opera Solutions, LLC (United States)
13. Tamr Inc. (United States)
Major Leading Player in the Procurement Analytics Market in Asia Pacific:
1. SAP SE (Germany)
2. Proactis Holdings Plc (United Kingdom)
3. Rosslyn Data Technologies (United Kingdom)
4. Sievo (Finland)
5. Simfoni Limited (United Kingdom)
6. Scanmarket (Denmark)
7. BravoSolution SPA (Italy)
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Procurement Analytics Market Regional Analysis:
The regional segment of the Procurement Analytics Market analysis includes individual market influencing factors and changes in market regulations affecting current and future trends. Key variables for forecasting market conditions in specific countries include consumption volumes, production sites and volumes, import-export analysis, price trend analysis, raw material prices, and downstream and upstream value chain analysis. Forecast analysis also considers the presence and availability of global brands, challenges from local and domestic brands, and the impact of domestic tariffs and trade channels.
COVID-19 Impact Analysis on Procurement Analytics Market:
The report includes a comprehensive analysis of the impact of Covid-19 on the [Market Name] Market. The World Health Organization has designated Covid-19 a global health emergency due to its impact on thousands of patients worldwide. The Coronavirus disease affects various segments of the [Market Name] Market.
Key Questions Answered in the Procurement Analytics Market Report:
- What are the crucial factors aiding the Procurement Analytics Market growth?
- Which region has the maximum share in the Procurement Analytics Market?
- What will be the CAGR of the Procurement Analytics Market during the forecast period (2024-2030)?
- Which segment emerged as the leading segment in the Procurement Analytics Market?
- Who are the main players in the Procurement Analytics Market?
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