Procurement Analytics Market Size, Share & Trends Analysis Report By Component (Solution, Service), By Deployment, By Application, By Organization Size, By Vertical, By Region, And Segment Forecasts, 2022 - 2030

Procurement Analytics Market Growth & Trends

The global procurement analytics market size is expected to reach USD 18.18 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 23.6% from 2022 to 2030. The industry is benefiting from the requirement for operational efficiency. A rising need for efficiency sparks the market's growth. Procurement analytics are in demand as more consumers become aware, and many organizations' procurement processes and operations become complex. Procurement analytics efficiently handles large workloads, and the analytics software's capacity to assist in various tasks leads to increased usage.

Machine learning and AI improve organizations' ability to evaluate and make informed decisions based on data with minimal human participation. Such advanced technologies are being used by businesses to make faster procurement decisions. For instance, an aerated beverage company, Coca Cola has integrated AI to boost its supply chain procurement. In June 2022, Brett Fultz, director of global procurement, global analytics, and supply chain for Coca-Cola, stated Artificial Intelligence (AI) and machine learning tools have become crucial in improving the beverage company's procurement across fifty categories. Additionally, it is also beneficial for governance and supplier communications.

The spread of COIVD-19 is disrupting worldwide industry operations as markets have faced several challenges due to the pandemic. During this time, data procurement reached its peak. Many markets began to emphasize obtaining data and gaining insights, and industry participants are taking steps to keep the procurement analytics market afloat. There is a plethora of procurement analytics services software on the market, and the procurement analytics market will see positive improvements due to its availability. In addition, e-procurement platforms have grown in popularity in recent years and will continue to grow in the upcoming years.

Procurement Analytics Market Report Highlights

  • Procurement analytics adoption in the retail and e-commerce segment is expected to boost by the end of the forecast period. The growth of e-commerce business in all sectors and its need to procure resources from suppliers will influence the industry’s growth
  • Natural Language Processing (NLP) aims to understand, interpret, and manipulate human language. In procurement, natural language processing is becoming increasingly important due to its ability to extract insights from existing data and streamline time-consuming processes
  • Asia-pacific is expected to grow at the highest CAGR during the forecast period. Infrastructural development and the emergence of new businesses in the region will contribute to the market’s growth
  • Risk analytics is gaining importance in large and small enterprises. As a part of predictive analytics, it helps strategize business operations and control crises. Additionally, the Covid-19 pandemic boosted the growth of the risk analytics software market
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Chapter 1 Methodology And Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.3.3 Secondary Sources & Third Party Perspective
1.3.4 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation and Data Visualization
1.6 Data Validation and Publishing
Chapter 2 Executive Summary
2.1 Market Outlook
2.1.1 Global Procurement Analytics Market Size Estimates & Forecasts, 2017 - 2030 (USD Million)
2.2 Segmental Outlook
2.2.1 Global Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
2.2.2 Global Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
2.2.3 Global Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
2.2.4 Global Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
2.2.5 Global Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
Chapter 3 Market Variables, Trends & Scope
3.1 Market Introduction
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
3.3.1 COVID-19 Impact Analysis
3.3.2 Market Driver Analysis
3.3.2.1 Need for Efficacy in Organizations
3.3.2.2 Growing Adoption of Artificial Intelligence
3.3.2.3 Increase in Need for Risk Analysis
3.3.3 Market Restraint/Challenges Analysis
3.3.3.1 Concerns Over Data Security
3.4 Penetration & Growth Prospect Mapping
3.5 Industry Analysis - Porter’s Five Forces
3.6 PEST Analysis
Chapter 4 Procurement Analytics Market: Component Outlook
4.1 Component Movement Analysis & Market Share, 2021 & 2030
4.2 Solution
4.2.1 Solution Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
4.3 Services
4.3.1 Services Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 5 Procurement Analytics Market: Deployment Outlook
5.1 Deployment Movement Analysis & Market Share, 2021 & 2030
5.2 On-premise
5.2.1 On-premise Procurement Analytics market size estimates and forecasts, 2017 - 2030 (USD Million)
5.3 Cloud
5.3.1 Cloud Procurement Analytics market size estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 6 Procurement Analytics Market: Application Outlook
6.1 Application Movement Analysis & Market Share, 2021 & 2030
6.2 Spend analytics
6.2.1 Spend Analytics Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
6.3 Risk Analytics
6.3.1 Risk Analytics Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
6.4 Supply chain management
6.4.1 Supply Chain Management Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
6.5 Vendor Analytics
6.5.1 Vendor Analytics Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
6.6 Contract Management
6.6.1 Contract Management Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
Others
6.7.1 Others Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 7 Procurement Analytics Market: Organization Size Outlook
7.1 Application Movement Analysis & Market Share, 2021 & 2030
7.2 Small and Medium Enterprise
7.2.1 Small And Medium Enterprise Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
7.3 Large Enterprise
7.3.1 Large Enterprise Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 8 Procurement Analytics Market: Vertical Outlook
8.1 Application Movement Analysis & Market Share, 2021 & 2030
8.2 BFSI
8.2.1 BFSI Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
8.3 Retail And E-Commerce
8.3.1 Retail And E-Commerce Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
8.4 Telecom And IT
8.4.1 Telecom And IT Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
8.5 Manufacturing
8.5.1 Manufacturing Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
8.6 Healthcare And Life Sciences
8.6.1 Healthcare And Life Sciences Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
8.7 Energy And Utilities
8.7.1 Energy And Utilities Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
8.8 Government And Defense
8.8.1 Government And Defense Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
8.9 Others
8.9.1 Others Procurement Analytics Market Size Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 9 Procurement Analytics Market: Regional Estimates and Trend Analysis
9.1 Regional Market Size Estimates & Forecasts, 2021 & 2030 (USD Million)
9.2 Procurement Analytics Market Share by Region, 2021 & 2030
9.3 North America
9.3.1 North America Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.3.2 North America Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.3.3 North America Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.3.4 North America Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.3.5 North America Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
9.3.6 U.S.
9.3.6.1 U.S. Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.3.6.2 U.S. Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.3.6.3 U.S. Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.3.6.4 U.S. Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.3.6.5 U.S. Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
9.3.7 Canada
9.3.7.1 Canada Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.3.7.2 Canada Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.3.7.3 Canada Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.3.7.4 Canada Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.3.7.5 Canada Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
9.3.8 Mexico
9.3.8.1 Mexico Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.3.8.2 Mexico Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.3.8.3 Mexico Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.3.8.4 Mexico Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.3.8.5 Mexico Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
9.4 Europe
9.4.1 Europe Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.4.2 Europe Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.4.3 Europe Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.3.4 Europe Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.3.5 Europe Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
9.4.6 U.K.
9.4.6.1 U.K. Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.4.6.2 U.K. Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.4.6.3 U.K. Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.3.6.4 U.K. Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.3.6.5 U.K. Procurement Analytics market, by vertical, 2017 - 2030 (USD Million)
9.4.7 Germany
9.4.7.1 Germany Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.4.7.2 Germany Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.4.7.3 Germany Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.4.7.4 Germany Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.4.7.5 Germany Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
9.4.8 France
9.4.8.1 France Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.4.8.2 France Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.4.8.3 France Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.4.8.4 France Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.4.8.5 France Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
9.5 Asia Pacific
9.5.1 Asia Pacific Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.5.2 Asia Pacific Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.5.3 Asia Pacific Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.5.4 Asia Pacific Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.5.5 Asia Pacific Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
9.5.6 China
9.5.6.1 China Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.5.6.2 China Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.5.6.3 China Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.5.6.4 China Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.5.6.5 China Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.5.7 India
9.5.7.1 India Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.5.7.2 India Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.5.9.5 India Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.5.7.4 India Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.5.9.5 India Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
9.5.8 Japan
9.5.8.1 Japan Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.5.8.2 Japan Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.5.8.3 Japan Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.5.8.4 Japan Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.5.8.5 Japan Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
9.6 Central And South America
9.6.1 Central And South America Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.6.2 Central And South America Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.6.3 Central And South America Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.6.4 Central And South America Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.6.5 Central And South America Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
9.6.6 Brazil
9.6.6.1 Brazil Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.6.6.2 Brazil Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.6.6.3 Brazil Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.6.5.4 Brazil Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.6.5.5 Brazil Procurement Analytics market, by vertical, 2017 - 2030 (USD Million)
9.7 MEA
9.7.1 MEA Procurement Analytics Market, By Component, 2017 - 2030 (USD Million)
9.7.2 MEA Procurement Analytics Market, By Deployment, 2017 - 2030 (USD Million)
9.7.3 MEA Procurement Analytics Market, By Application, 2017 - 2030 (USD Million)
9.7.4 MEA Procurement Analytics Market, By Organization Size, 2017 - 2030 (USD Million)
9.7.5 MEA Procurement Analytics Market, By Vertical, 2017 - 2030 (USD Million)
Chapter 10 Competitive Landscape
10.1 Company Profiles
10.1.1 SAP
10.1.1.1 Company overview
10.1.1.2 Financial Performance
10.1.1.3 Product benchmarking
10.1.1.4 Recent Developments
10.1.2 ORACLE
10.1.2.1 Company overview
10.1.2.2 Financial Performance
10.1.2.3 Product benchmarking
10.1.2.4 Recent Developments
10.1.3 SAS INSTITUTE
10.1.3.1 Company overview
10.1.3.2 Financial Performance
10.1.3.3 Product benchmarking
10.1.3.4 Recent Developments
10.1.4 COUPA SOFTWARE
10.1.4.1 Company overview
10.1.4.2 Financial Performance
10.1.4.3 Product benchmarking
10.1.4.4 Recent Developments
10.1.5 GENPACT
10.1.5.1 Company overview
10.1.5.2 Financial Performance
10.1.5.3 Product benchmarking
10.1.5.4 Recent Developments
10.1.6 ROSSLYN DATA TECHNOLOGIES
10.1.6.1 Company overview
10.1.6.2 Financial Performance
10.1.6.3 Product benchmarking
10.1.6.4 Recent Developments
10.1.7 MICROSOFT
10.1.7.1 Company overview
10.1.7.2 Financial Performance
10.1.7.3 Product benchmarking
10.1.7.4 Recent Developments
10.1.8 IBM
10.1.8.1 Company overview
10.1.8.2 Financial Performance
10.1.8.3 Product benchmarking
10.1.8.4 Recent Developments
10.1.9 CISCO
10.1.9.1 Company overview
10.1.9.2 Financial Performance
10.1.9.3 Product benchmarking
10.1.9.4 Recent Developments
10.1.10 GEP
10.1.10.1 Company overview
10.1.10.2 Product benchmarking
10.1.10.3 Recent Developments

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