Global Procurement Analytics Market to Reach $20.7 Billion by 2030
The global market for Procurement Analytics estimated at US$6 Billion in the year 2023, is expected to reach US$20.7 Billion by 2030, growing at a CAGR of 19.3% over the period 2023-2030. Procurement Analytics Solutions, one of the segments analyzed in the report, is expected to record 18.8% CAGR and reach US$12.3 Billion by the end of the analysis period. Growth in the Procurement Analytics Services segment is estimated at 20% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 24.8% CAGR
The Procurement Analytics market in the U.S. is estimated at US$1.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.5 Billion by the year 2030 trailing a CAGR of 24.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.3% and 16.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 15.7% CAGR.
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