Global Retail sourcing and procurement software market Size study & Forecast, by Deployment Type (On-Premise, Cloud) by Component (Solution, Services) by User Type (Large Enterprise, Small Enterprise and Medium Enterprise) and Regional Analysis, 2023-2030

Global Retail sourcing and procurement software market Size study & Forecast, by Deployment Type (On-Premise, Cloud) by Component (Solution, Services) by User Type (Large Enterprise, Small Enterprise and Medium Enterprise) and Regional Analysis, 2023-2030

Global Retail sourcing and procurement software market is valued approximately at USD 5.4billion in 2022 and is anticipated to grow with a healthy growth rate of more than 13.65% over the forecast period 2023-2030. Retail sourcing and procurement software is used by the retail industry for managing the transactions related to sourcing and procurement of goods and services from different vendors and resource providers. The retail sourcing and procurement software market is expanding because of rising automation in retail industry and growing number of e-commerce platforms. Its importance has progressively increased during the last few decades.

According to a survey conducted by Capgemini, Consumers may presently access product information and inventory availability via automation in 22% of retail locations, according to retailer responses. In the following three years, retailers anticipated that number to rise to 38% of stores. Another important component driving is growing number of e-commerce platforms. According to a recent report by Ecommerce Platforms, over 2.3 billion consumers made at least one purchase using e-commerce platforms in 2022 alone. This indicates that ecommerce shopping continues to grow on a regular basis. In 2023, the eCommerce market is anticipated to grow to USD4.11 trillion. Market volume is anticipated to reach USD6.35 trillion by 2027, with revenue predicted to expand at a rate of 11.51% per year CAGR 2023 to 2027. In addition, increasing number of mobile applications and rising technological advancement in retail sourcing and procurement software would create lucrative growth opportunity. However, Limited technical knowledge among the enterprise workforce and high cost stifles the market growth during the forecast period 2022-2030.

The key regions considered for the Global Retail sourcing and procurement software market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the rising technological advancement by key market players. According to Statista, the retail sourcing market is dominated by North America. The outsourcing market in the Americas has a value of 62 billion dollars. Asia Pacific is expected to fastest growing region during the forecast period, owing to factors such as rising number of e commerce platforms in the market and the need for sourcing and category expertise and strong demand to build better supplier relationships and enhanced purchasing experience.

Major market player included in this report are:
Oracle Corporation
International Business Machines Corporation
System Analysis Program Development
Zycus Infotech Private Limited
LogicSource Inc.
Bristlecone India Ltd.
Perfect Commerce Pvt Ltd.
Generation Expansion Planning
Infor Inc.
McCarthy Holdings Inc.

Recent Developments in the Market:
September 2021- McCarthy Holdings, the U.S.-based construction firm, partnered with GEP to deploy its smart procurement software. The company aims to transform its source-to-pay process with GEP procurement software.
December 2021 – Zycus opened an office in Japan as part of its business expansion strategy. The company’s expansion is driven by the increasing demand and expansion of Software as a Service (SaaS) in the country.

Global Retail sourcing and procurement software market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Deployment Type , Component Type, User Type , Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Deployment Type :
On-premise
Cloud

By Component:
Solution
Services

By User Type :
Large Enterprise
Small Enterprise
Medium Enterprise

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Oracle Corporation
International Business Machines Corporation
System Analysis Program Development
Zycus Infotech Private Limited
LogicSource Inc.
Bristlecone India Ltd.
Perfect Commerce Pvt Ltd.
Generation Expansion Planning
Infor Inc.
McCarthy Holdings Inc.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.