The Global Procurement Software Market is anticipated to witness a growth at a CAGR of 12.2% during the forecast period 2020-2025. Procurement software offer various benefits such as shortened business cycle, increased transparency and centralised control, standardization of process and increased productivity among others.
The market players profiled in the research study of the global procurement software market are:
Mercateo AG (Germany)
JDA Software Inc. (US)
Zycus Inc. (US)
Epicor Software Corporation (US)
Infor Inc. (US)
Coupa Software Incorporated (US)
SAP SE (Germany)
Oracle Corporation (US)
IBM Corporation (US)
Market Dynamics
The global procurement software market report covers different market aspects and a major factor responsible for the market growth are increasing demand for eProcurement technology in different industry verticals due to its ability to reduce time required in procurement life cycles. The market is driven by various other determinants that include:
Growth Factors
Increasing demand for consolidation of supply chain management (SCM)
Rising demand for centralized procurement processes
Integration of technology and supply chain management
Materialization of the e-procurement technology
Restraints
Complexity related to usage of procurement software coupled with lack of technical skills
Opportunity
Growth in mobile procurement applications
Trend
Increasing adoption of AI and blockchain in procurement and supply chain process
Segmentation Overview of the Global Procurement Software Market
The global procurement software market is segmented on the basis of various market segments that include deployment, software type, organization size and vertical. These major market segments are further categorized into various sub-segments to study the market in detail.
The Deployment Segment of the Global Procurement Software Market is Sub-Segmented into:
On-Cloud
On-Premise
The Software Type Segment of the Global Procurement Software Market is Sub-Segmented into:
Supplier Management
Contract Management
E-Procurement
E-Sourcing
Spend Analysis
Others
The Organization Size Segment of the Global Procurement Software Market is Sub-Segmented into:
Small & Medium Enterprise
Large Enterprises
The Vertical Segment of the Global Procurement Software Market is Sub-Segmented into:
Mining
IT and Telecommunication
Electronics
Travel and Logistics
Automotive
Retail
Others
Geographical Overview of the Global Procurement Software Market
The research report on the procurement software market covers study of various geographical parts considering the impact of market dynamics such as regulations, innovations and other market determinants.
North America (US and Canada)
Europe (Germany, UK, France, Italy, Spain and Russia)
Asia Pacific (China, Japan, India and Australia)
Latin America (Brazil and Mexico)
MEA (South Africa and Saudi Arabia)
The Research Study Offer:
In-depth market study of the global procurement software industry by covering data tables and figures that explains the market quantitively and qualitatively.
Covers various economic tools such as PESTLE Analysis, Porter’s Five Force Model, SWOT analysis and others to analyse the procurement software industry.
Company profiling with detailed study of their strategical developments and financial parameters to understand the real-time scenario of the procurement software marketplace.
Calculation of market share related to segments and sub-segments of the market.
Analytical results derived from primary and secondary research conducted to compile the report.
Analysed data in qualitative and quantitative form of the market, that will guide the market players to make informative business decisions.
