Procurement Software Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	140 Pages	Fortune Business Insights Pvt. Ltd.	September, 2024	FOB19185713

Best Price Guarantee
Price	from $4,850
Length	140 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	September, 2024
SKU	FOB19185713

Procurement Software Market

Growth Factors of Procurement Software Market

The procurement software market size was valued at USD 7.30 billion in 2023, and the market is now projected to grow from USD 8.03 billion in 2024 to USD 18.28 billion by 2032, exhibiting a CAGR of 10.8% during the forecast period of 2024-2032.

The pandemic brought changes to increase the use of services such as scheduling, checklists, development of standard protocols, report development and implementation of recommendations among others hence contributing to the procurement software market growth.

AI in procurement improves problem-solving through better algorithms thus driving the procurement software market share. As estimated in Deloitte’s CPO survey, the best performers focus on next-generation digital which are top benefits are process efficiency (65%), effectiveness (50%) and flexibility (50%). Supply chains around the world are also undergoing an evolution for efficiency improvement which in turn is generating demand for digital procurement solutions.

Also, the rise in cloud utility has contributed to the growth of the procurement software market through scalability flexibility and cost savings. Cloud-based solutions mean that people can access systems away from the office, making work more efficient and not requiring hardware on the premises. They also link with other enterprise solutions, making work on procurement even more efficient. It helps enhance the efficiency and innovation of procurement functions by providing constant access to current features.

Comprehensive Analysis of Procurement Software Market

The procurement software market especially the information & communication technology industry is on exponential growth today mainly because of market segmentation. This market expansion provides a line-by-line regional evaluation based on the nature of the supply/demand dynamics that shape the hardware & software IT services market. These segmentations are very methodically segmented by deployment, by enterprise type and by the end-users. The deployment include, Cloud and On-premise. The enterprise type include, Small and Medium Enterprises (SMEs) and Large Enterprises. At last the end-user include, Retail & e-Commerce, Healthcare and Pharmaceutical, Manufacturing & Automotive, BFSI, IT & Telecom, Oil & Gas, Energy & Utilities and Others.

The North American geographical segment has the largest procurement software market, primarily due to the increased adoption of disruptive technologies by players such as those in the U.S.- Canada is predicted to have dedicated growth, which is supported by the raises in investments from vendors. For instance, GEP signed a deal with ENMAX Corporation in 2021 for the deployment of the cloud procurement platform, GEP SMART. The countries involved in the analysis include Mexico as well.

These key players in the market remain strategic in the information & communication technology industry and in facilitating continued industrial prospectus and setting market standards. These players include, Basware (Finland), SAP SE (Germany), Coupa Software Inc. (U.S.), Oracle (U.S.), Ivalua Inc. (U.S.), JAGGAER (U.S.), Workday, Inc. (U.S.), GEP (U.S.), Zycus Inc. (U.S.) and Infor (U.S.).

In October 2023, Atamis revealed plans to provide Maximus UK the enterprise procurement software, to enhance the company’s sourcing model to make it more efficient and economical. This paper focuses on the possibility of increasing the efficiency of the procurement work of an organization based in the United Kingdom as well as Maximus, by introducing Atamis software.

Segmentation Table

Global Procurement Software Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 10.8% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Deployment, Enterprise Type, End-user, and Region

By Deployment - Cloud

- On-premise

By Enterprise Type - Small and Medium Enterprises (SMEs)

- Large Enterprises

By End-user - Retail & e-Commerce

- Healthcare and Pharmaceutical

- Manufacturing & Automotive

- BFSI

- IT & Telecom

- Oil & Gas, Energy & Utilities

- Others (Real Estate, etc.)

By Region - North America (Deployment, Enterprise Type, End-user, Country)

U.S. (By End-user)
Canada (By End-user)
Mexico (By End-user)

- Europe (Deployment, Enterprise Type, End-user, Country)

U.K. (By End-user)
Germany (By End-user)
Italy (By End-user)
France (By End-user)
Russia (By End-user)
Spain (By End-user)
Benelux (By End-user)
Nordics (By End-user)
Rest of Europe

- Asia Pacific (Deployment, Enterprise Type, End-user, Country)

China (By End-user)
Japan (By End-user)
India (By End-user)
South Korea (By End-user)
ASEAN (By End-user)
Oceania (By End-user)
Rest of Asia Pacific

- Middle East & Africa (Deployment, Enterprise Type, End-user, Country)

Turkey (By End-user)
GCC (By End-user)
Israel (By End-user)
North Africa (By End-user)
South Africa (By End-user)
Rest of Middle East & Africa

- South America (Deployment, Enterprise Type, End-user, Country)

Brazil (By End-user)
Argentina (By End-user)
Rest of South America

Please Note:

1. Introduction: 1.1. Definition, By Segment; 1.2. Research Methodology/Approach; 1.3. Data Sources
2. Executive Summary
3. Market Dynamics: 3.1. Macro and Micro Economic Indicators; 3.2. Drivers, Restraints, Opportunities and Trends
4. Competition Landscape: 4.1. Business Strategies Adopted by Key Players; 4.2. Consolidated SWOT Analysis of Key Players; 4.3. Global Procurement Software Key Players Market Share/Ranking, 2023
5. Global Procurement Software Market Size Estimates and Forecasts, By Segments, 2019-2032: 5.1. Key Findings; 5.2. By Deployment (USD); 5.2.1. Cloud; 5.2.2. On-premise; 5.3. By Enterprise Type (USD); 5.3.1. Small & Medium Enterprise; 5.3.2. Large Enterprises; 5.4. By End-user (USD); 5.4.1. Retail & e-Commerce; 5.4.2. Healthcare and Pharmaceutical; 5.4.3. Manufacturing & Automotive; 5.4.4. BFSI; 5.4.5. IT & Telecom; 5.4.6. Oil & Gas, Energy & Utilities; 5.4.7. Others (Real Estate, etc.); 5.5. By Region (USD); 5.5.1. North America; 5.5.2. South America; 5.5.3. Europe; 5.5.4. Middle East & Africa; 5.5.5. Asia Pacific
6. North America Procurement Software Market Size Estimates and Forecasts, By Segments, 2019-2032: 6.1. Key Findings; 6.2. By Deployment (USD); 6.2.1. Cloud; 6.2.2. On-premise; 6.3. By Enterprise Type (USD); 6.3.1. Small & Medium Enterprise; 6.3.2. Large Enterprises; 6.4. By End-user (USD); 6.4.1. Retail & e-Commerce; 6.4.2. Healthcare and Pharmaceutical; 6.4.3. Manufacturing & Automotive; 6.4.4. BFSI; 6.4.5. IT & Telecom; 6.4.6. Oil & Gas, Energy & Utilities; 6.4.7. Others (Real Estate, etc.); 6.5. By Country (USD); 6.5.1. United States; 6.5.1.1. End-user; 6.5.2. Canada; 6.5.2.1. End-user; 6.5.3. Mexico; 6.5.3.1. End-user
7. South America Procurement Software Market Size Estimates and Forecasts, By Segments, 2019-2032: 7.1. Key Findings; 7.2. By Deployment (USD); 7.2.1. Cloud; 7.2.2. On-premise; 7.3. By Enterprise Type (USD); 7.3.1. Small & Medium Enterprise; 7.3.2. Large Enterprises; 7.4. By End-user (USD); 7.4.1. Retail & e-Commerce; 7.4.2. Healthcare and Pharmaceutical; 7.4.3. Manufacturing & Automotive; 7.4.4. BFSI; 7.4.5. IT & Telecom; 7.4.6. Oil & Gas, Energy & Utilities; 7.4.7. Others (Real Estate, etc.); 7.5. By Country (USD); 7.5.1. Brazil; 7.5.1.1. End-user; 7.5.2. Argentina; 7.5.2.1. End-user; 7.5.3. Rest of South America
8. Europe Procurement Software Market Size Estimates and Forecasts, By Segments, 2019-2032: 8.1. Key Findings; 8.2. By Deployment (USD); 8.2.1. Cloud; 8.2.2. On-premise; 8.3. By Enterprise Type (USD); 8.3.1. Small & Medium Enterprise; 8.3.2. Large Enterprises; 8.4. By End-user (USD); 8.4.1. Retail & e-Commerce; 8.4.2. Healthcare and Pharmaceutical; 8.4.3. Manufacturing & Automotive; 8.4.4. BFSI; 8.4.5. IT & Telecom; 8.4.6. Oil & Gas, Energy & Utilities; 8.4.7. Others (Real Estate, etc.); 8.5. By Country (USD); 8.5.1. United Kingdom; 8.5.1.1. End-user; 8.5.2. Germany; 8.5.2.1. End-user; 8.5.3. France; 8.5.3.1. End-user; 8.5.4. Italy; 8.5.4.1. End-user; 8.5.5. Spain; 8.5.5.1. End-user; 8.5.6. Russia; 8.5.6.1. End-user; 8.5.7. Benelux; 8.5.7.1. End-user; 8.5.8. Nordics; 8.5.8.1. End-user; 8.5.9. Rest of Europe
9. Middle East & Africa Procurement Software Market Size Estimates and Forecasts, By Segments, 2019-2032: 9.1. Key Findings; 9.2. By Deployment (USD); 9.2.1. Cloud; 9.2.2. On-premise; 9.3. By Enterprise Type (USD); 9.3.1. Small & Medium Enterprise; 9.3.2. Large Enterprises; 9.4. By End-user (USD); 9.4.1. Retail & e-Commerce; 9.4.2. Healthcare and Pharmaceutical; 9.4.3. Manufacturing & Automotive; 9.4.4. BFSI; 9.4.5. IT & Telecom; 9.4.6. Oil & Gas, Energy & Utilities; 9.4.7. Others (Real Estate, etc.); 9.5. By Country (USD); 9.5.1. Turkey; 9.5.1.1. End-user; 9.5.2. Israel; 9.5.2.1. End-user; 9.5.3. GCC; 9.5.3.1. End-user; 9.5.4. North Africa; 9.5.4.1. End-user; 9.5.5. South Africa; 9.5.5.1. End-user; 9.5.6. Rest of MEA
10. Asia Pacific Procurement Software Market Size Estimates and Forecasts, By Segments, 2019-2032: 10.1. Key Findings; 10.2. By Deployment (USD); 10.2.1. Cloud; 10.2.2. On-premise; 10.3. By Enterprise Type (USD); 10.3.1. Small & Medium Enterprise; 10.3.2. Large Enterprises; 10.4. By End-user (USD); 10.4.1. Retail & e-Commerce; 10.4.2. Healthcare and Pharmaceutical; 10.4.3. Manufacturing & Automotive; 10.4.4. BFSI; 10.4.5. IT & Telecom; 10.4.6. Oil & Gas, Energy & Utilities; 10.4.7. Others (Real Estate, etc.); 10.5. By Country (USD); 10.5.1. China; 10.5.1.1. End-user; 10.5.2. India; 10.5.2.1. End-user; 10.5.3. Japan; 10.5.3.1. End-user; 10.5.4. South Korea; 10.5.4.1. End-user; 10.5.5. ASEAN; 10.5.5.1. End-user; 10.5.6. Oceania; 10.5.6.1. End-user; 10.5.7. Rest of Asia Pacific
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases): 11.1. Basware; 11.1.1. Overview; 11.1.1.1. Key Management; 11.1.1.2. Headquarters; 11.1.1.3. Offerings/Business Segments; 11.1.2. Key Details (Key details are consolidated data and not product/service specific); 11.1.2.1. Employee Size; 11.1.2.2. Past and Current Revenue; 11.1.2.3. Geographical Share; 11.1.2.4. Business Segment Share; 11.1.2.5. Recent Developments; 11.2. SAP SE; 11.2.1. Overview; 11.2.1.1. Key Management; 11.2.1.2. Headquarters; 11.2.1.3. Offerings/Business Segments; 11.2.2. Key Details (Key details are consolidated data and not product/service specific); 11.2.2.1. Employee Size; 11.2.2.2. Past and Current Revenue; 11.2.2.3. Geographical Share; 11.2.2.4. Business Segment Share; 11.2.2.5. Recent Developments; 11.3. Coupa Software Inc.; 11.3.1. Overview; 11.3.1.1. Key Management; 11.3.1.2. Headquarters; 11.3.1.3. Offerings/Business Segments; 11.3.2. Key Details (Key details are consolidated data and not product/service specific); 11.3.2.1. Employee Size; 11.3.2.2. Past and Current Revenue; 11.3.2.3. Geographical Share; 11.3.2.4. Business Segment Share; 11.3.2.5. Recent Developments; 11.4. Oracle Corporation; 11.4.1. Overview; 11.4.1.1. Key Management; 11.4.1.2. Headquarters; 11.4.1.3. Offerings/Business Segments; 11.4.2. Key Details (Key details are consolidated data and not product/service specific); 11.4.2.1. Employee Size; 11.4.2.2. Past and Current Revenue; 11.4.2.3. Geographical Share; 11.4.2.4. Business Segment Share; 11.4.2.5. Recent Developments; 11.5. Ivalua Inc.; 11.5.1. Overview; 11.5.1.1. Key Management; 11.5.1.2. Headquarters; 11.5.1.3. Offerings/Business Segments; 11.5.2. Key Details (Key details are consolidated data and not product/service specific); 11.5.2.1. Employee Size; 11.5.2.2. Past and Current Revenue; 11.5.2.3. Geographical Share; 11.5.2.4. Business Segment Share; 11.5.2.5. Recent Developments; 11.6. JAGGAER; 11.6.1. Overview; 11.6.1.1. Key Management; 11.6.1.2. Headquarters; 11.6.1.3. Offerings/Business Segments; 11.6.2. Key Details (Key details are consolidated data and not product/service specific); 11.6.2.1. Employee Size; 11.6.2.2. Past and Current Revenue; 11.6.2.3. Geographical Share; 11.6.2.4. Business Segment Share; 11.6.2.5. Recent Developments; 11.7. Workday, Inc.; 11.7.1. Overview; 11.7.1.1. Key Management; 11.7.1.2. Headquarters; 11.7.1.3. Offerings/Business Segments; 11.7.2. Key Details (Key details are consolidated data and not product/service specific); 11.7.2.1. Employee Size; 11.7.2.2. Past and Current Revenue; 11.7.2.3. Geographical Share; 11.7.2.4. Business Segment Share; 11.7.2.5. Recent Developments; 11.8. GEP; 11.8.1. Overview; 11.8.1.1. Key Management; 11.8.1.2. Headquarters; 11.8.1.3. Offerings/Business Segments; 11.8.2. Key Details (Key details are consolidated data and not product/service specific); 11.8.2.1. Employee Size; 11.8.2.2. Past and Current Revenue; 11.8.2.3. Geographical Share; 11.8.2.4. Business Segment Share; 11.8.2.5. Recent Developments; 11.9. Zycus Inc.; 11.9.1. Overview; 11.9.1.1. Key Management; 11.9.1.2. Headquarters; 11.9.1.3. Offerings/Business Segments; 11.9.2. Key Details (Key details are consolidated data and not product/service specific); 11.9.2.1. Employee Size; 11.9.2.2. Past and Current Revenue; 11.9.2.3. Geographical Share; 11.9.2.4. Business Segment Share; 11.9.2.5. Recent Developments; 11.10. Infor; 11.10.1. Overview; 11.10.1.1. Key Management; 11.10.1.2. Headquarters; 11.10.1.3. Offerings/Business Segments; 11.10.2. Key Details (Key details are consolidated data and not product/service specific); 11.10.2.1. Employee Size; 11.10.2.2. Past and Current Revenue; 11.10.2.3. Geographical Share; 11.10.2.4. Business Segment Share; 11.10.2.5. Recent Developments
12. Key Takeaways