Procurement Software Market Size, Share, and Analysis, By Deployment (Cloud and On-premises), By Enterprise Type (Small & Medium Enterprise and Large Enterprise), By End User (Retail, Manufacturing, Transportation and Logistics, Healthcare, and Others), a

Procurement Software Market Size, Share, and Analysis, By Deployment (Cloud and On-premises), By Enterprise Type (Small & Medium Enterprise and Large Enterprise), By End User (Retail, Manufacturing, Transportation and Logistics, Healthcare, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2023-2032

PRODUCT OVERVIEW

Procurement Software Market is projected to grow at a CAGR of 11.2% in the forecast period (2023-2032), with the market size valued at USD 6.78 billion in 2022 and projected to reach USD 19.6 billion by 2032.

Procurement software is a comprehensive solution designed to enhance and simplify the procurement process within businesses. It enables efficient management of supplier relationships, sourcing of products and services, creation of purchase orders, and accurate tracking of expenditures. The primary functions of the software generally include spend analysis, e-procurement, contract management, and supplier collaboration, all aimed at driving cost savings, improving supply chain visibility, ensuring regulation, and reducing manual errors in procurement operations. By automating these critical functions, procurement software allows organizations to make informed decisions, improve procurement strategies, and raise overall operational efficiency.

MARKET HIGHLIGHTS

Procurement Software Market is anticipated to reach USD 19.6 billion, growing at a CAGR of 11.2% during the forecast period owing to the diverse range of solutions that serve the evolving needs of businesses. There is a growing emphasis on regulation, risk management, and sustainability within the procurement software, solving both regulatory requirements and environmental concerns. Additionally, the integration of artificial intelligence and analytics into these systems is enabling automated forecasting, cost reduction, and performance evaluation. In this competitive landscape, organizations are adopting these solutions to boost procurement efficiency, reduce costs, and adapt to the demands of an evolving and globally connected business environment.

Procurement Software Market Segments:

• By Deployment
• Cloud
• On-premises
• By Enterprise Type
• Small & Medium Enterprise
• Large Enterprise
• By End User
• Retail
• Manufacturing
• Transportation and Logistics
• Healthcare
• Others

MARKET DYNAMICS

Growth Drivers

Digital Transformation Will Drive Market Expansion

Globalization and the Complexity of Supply Chains to Support Market Growth

Restraint

Adoption Problems with Procurement Software are Hindering the Growth of the Industry

Key Players

• SAP Ariba
• Oracle Procurement Cloud
• Coupa
• GEP
• Jaggaer
• Ivalua
• Zycus
• Determine (Corcentric)
• Basware
• Proactis
• SynerTrade
• SMART by GEP
• Scanmarket
• Vroozi
• Periscope Holdings
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Global Laboratory Temperature Control Units Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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