Global Strategic Sourcing Application Suites Market Growth (Status and Outlook) 2023-2029

Global Strategic Sourcing Application Suites Market Growth (Status and Outlook) 2023-2029

Strategic sourcing application suites are a set of related, integrated solutions that support upstream procurement activities; in other words, the strategic work the procurement team does for planning, assessment and performance management. Strategic sourcing application suites are used primarily by companies with $800 million or more in annual revenue that, typically, have the necessary critical mass of spend. The strategic sourcing application suite delivers four primary capabilities. Most vendors offer these capabilities as separately licensable modules: Spend analysis is a software- and service-based solution for cleansing, enhancing, classifying and analyzing spend data. It features rule-based data cleansing, automated category-level classification, analytics and decision support. Automated spend analysis is used in procurement and sourcing to quantify spend by supplier, category and part, and to identify opportunities for cost reduction and supply base resizing.

LPI (LP Information)' newest research report, the “Strategic Sourcing Application Suites Industry Forecast” looks at past sales and reviews total world Strategic Sourcing Application Suites sales in 2022, providing a comprehensive analysis by region and market sector of projected Strategic Sourcing Application Suites sales for 2023 through 2029. With Strategic Sourcing Application Suites sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Strategic Sourcing Application Suites industry.

This Insight Report provides a comprehensive analysis of the global Strategic Sourcing Application Suites landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Strategic Sourcing Application Suites portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Strategic Sourcing Application Suites market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Strategic Sourcing Application Suites and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Strategic Sourcing Application Suites.

The global Strategic Sourcing Application Suites market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

United States market for Strategic Sourcing Application Suites is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

China market for Strategic Sourcing Application Suites is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Europe market for Strategic Sourcing Application Suites is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Global key Strategic Sourcing Application Suites players cover JAGGAER, SAP Ariba, Scout RFP, Coupa, SAP, GEP, Zycus, IBM and Determine, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2022.

This report presents a comprehensive overview, market shares, and growth opportunities of Strategic Sourcing Application Suites market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Cloud-based
On-premises

Segmentation by application
Cleansing
Automated Category-Level Classification
Analytics and Decision Support

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
JAGGAER
SAP Ariba
Scout RFP
Coupa
SAP
GEP
Zycus
IBM
Determine
Scanmarket
Ivalua
SynerTrade
Vortal
Tradeshift
Open Windows

Please note: The report will take approximately 2 business days to prepare and deliver.