Procurement Analytics Market Booms as Enterprises Prioritize Data-Driven Decision-Making 

"Executive Summary Procurement Analytics Market Size and Share: Global Industry Snapshot

CAGR Value

• The global Procurement Analytics market size was valued at USD 4.27 Billion in 2024 and is expected to reach USD 28.54 Billion by 2032, at a CAGR of 23.50% during the forecast period

Businesses can depend with confidence upon this superior Procurement Analytics Market report to bring about an utter success. An expert team involved in creating this report concentrates on understanding client’s businesses and its needs so that the deluxe market research report is delivered to the client. The company profiles of all the dominating market players and brands that are making moves such as product launches, joint ventures, mergers and acquisitions are described in the Procurement Analytics Market report. Talented capabilities and brilliant resources in research, data collection, development, consulting, evaluation, compliance and regulatory services work together to formulate this world-class Procurement Analytics Market research report.

Procurement Analytics Market research report predicts the size of the market with respect to the information on key merchant revenues, development of the industry by upstream and downstream, industry progress, key companies, along with market segments and application. For an actionable market insight and lucrative business strategies, a faultless market research report has to be there. It also becomes easy to analyse the actions of key players and respective effect on the sales, import, export, revenue and CAGR values. This data is useful for businesses in characterizing their individual strategies.

Stay informed with our latest Procurement Analytics Market research covering strategies, innovations, and forecasts. Download full report: https://www.databridgemarketresearch.com/reports/global-procurement-analytics-market

Procurement Analytics Market Trends & Analysis

Segments

By Component:
- Solution
- Services
By Deployment Type:
- On-Premises
- Cloud
By Organization Size:
- Large Enterprises
- Small and Medium-Sized Enterprises (SMEs)
By Vertical:
- Retail and eCommerce
- Manufacturing
- Healthcare
- IT and Telecom
- Others

The global procurement analytics market can be segmented based on various factors, including components, deployment type, organization size, and verticals. In terms of components, the market is divided into solutions and services. Solutions segment is expected to witness significant growth due to the increasing demand for advanced analytics tools to streamline procurement processes. When it comes to deployment type, both on-premises and cloud-based solutions are being adopted by organizations, with cloud deployment gaining traction due to its scalability and cost-efficiency. Furthermore, the market caters to organizations of different sizes, including large enterprises and small to medium-sized enterprises (SMEs). The adoption of procurement analytics is particularly high among large enterprises to manage vast amounts of procurement data effectively. In terms of verticals, the retail and eCommerce sector leads the market, followed by manufacturing, healthcare, IT and telecom, among others. These verticals are leveraging procurement analytics to enhance decision-making, optimize supplier management, and drive cost savings.

Market Players

SAP SE
Oracle
IBM Corporation
SAS Institute Inc.
Coupa Software Inc.
Zycus Inc.
Genpact
BRIDGEi2i Analytics Solutions
JAGGAER
GEP Worldwide
BirchStreet Systems
Rosslyn Data Technologies
Tamr Inc.

Key market players in the global procurement analytics market play a crucial role in driving innovation and growth within the industry. Companies such as SAP SE, Oracle, and IBM Corporation are at the forefront of offering comprehensive procurement analytics solutions to meet the evolving needs of organizations worldwide. Other significant players like SAS Institute Inc., Coupa Software Inc., and Zycus Inc. are also actively contributing to market development through their advanced analytics tools and services. Additionally, companies like Genpact, BRIDGEi2i Analytics Solutions, and JAGGAER are known for their expertise in providing tailored procurement analytics solutions to improve operational efficiency and strategic sourcing. With fierce competition and a strong focus on technological advancements, market players continue to enhance their product offerings to stay competitive in the ever-evolving procurement analytics landscape.

The global procurement analytics market is poised for robust growth driven by several key trends and factors. One of the primary drivers of market expansion is the growing adoption of advanced analytics tools by organizations across various industries to improve their procurement processes. Companies are increasingly relying on procurement analytics solutions to gain actionable insights, optimize supplier relationships, mitigate risks, and drive cost savings. Moreover, the shift towards cloud-based deployment models is gaining traction due to benefits such as scalability, flexibility, and reduced IT infrastructure costs. Cloud-based solutions enable organizations to access procurement analytics capabilities on-demand and from any location, fostering operational efficiency and agility.

In addition to deployment models, the market segmentation based on organization size reveals distinct opportunities for both large enterprises and small to medium-sized enterprises (SMEs). While large enterprises often invest in comprehensive procurement analytics solutions to manage complex procurement operations and data volumes, SMEs are increasingly recognizing the value of analytics tools to enhance decision-making and gain a competitive edge in the market. As procurement processes become more data-driven and digitized, the demand for scalable and customizable analytics solutions is expected to rise across organizations of all sizes.

Furthermore, the vertical segmentation of the procurement analytics market highlights the diverse applications and benefits of analytics tools across industries. The retail and eCommerce sector, for instance, is leveraging procurement analytics to optimize inventory management, enhance supplier relationships, and deliver personalized customer experiences. In the manufacturing industry, analytics solutions are instrumental in improving supply chain visibility, forecasting demand, and ensuring production efficiency. Healthcare organizations are utilizing procurement analytics to streamline purchasing processes, track healthcare supply chain data, and enhance cost management practices.

Overall, the competitive landscape of the global procurement analytics market is characterized by a mix of established players and emerging vendors striving to differentiate their offerings and capture market share. Key market players such as SAP SE, Oracle, and IBM Corporation continue to lead in terms of market presence and innovation, offering industry-leading procurement analytics solutions tailored to diverse customer needs. Emerging players like BRIDGEi2i Analytics Solutions, Tamr Inc., and Rosslyn Data Technologies are focusing on niche capabilities and specialized services to cater to specific industry requirements and emerging trends in procurement analytics.

In conclusion, the global procurement analytics market is poised for continued expansion driven by the increasing adoption of advanced analytics solutions, the shift towards cloud-based deployments, and the growing emphasis on data-driven decision-making across industries. As market players continue to innovate and collaborate with organizations to address evolving procurement challenges, the landscape is expected to witness further advancements in analytics capabilities, industry-specific solutions, and strategic partnerships to drive value and competitive advantage in the dynamic procurement ecosystem.The global procurement analytics market is experiencing significant growth driven by various factors such as the rising demand for advanced analytics tools, the adoption of cloud-based deployment models, and the focus on data-driven decision-making across verticals. Procurement analytics solutions are increasingly being leveraged by organizations to improve procurement processes, optimize supplier relationships, mitigate risks, and achieve cost savings. This trend is particularly strong in industries like retail and eCommerce, manufacturing, healthcare, and IT and telecom, where organizations are using analytics tools to enhance operational efficiency, drive strategic sourcing, and deliver personalized customer experiences.

Key market players such as SAP SE, Oracle, and IBM Corporation are leading the market by offering comprehensive procurement analytics solutions that cater to the evolving needs of organizations globally. These industry giants are known for their innovation, product quality, and vast market presence. On the other hand, emerging players like BRIDGEi2i Analytics Solutions, Tamr Inc., and Rosslyn Data Technologies are focusing on niche capabilities and specialized services to meet specific industry requirements and stay competitive in the market. These players are contributing to market development by introducing innovative solutions, addressing industry-specific challenges, and forming strategic partnerships to enhance their market position.

Furthermore, the segmentation of the market based on organization size reveals opportunities for both large enterprises and small to medium-sized enterprises (SMEs) to adopt procurement analytics solutions. While large enterprises often invest in comprehensive analytics tools to manage complex procurement operations, SMEs are recognizing the value of these solutions to improve decision-making and gain a competitive edge. As procurement processes become more data-driven and digitized, the demand for scalable and customizable analytics solutions is expected to increase across organizations of all sizes.

In conclusion, the global procurement analytics market is poised for continued growth as organizations across various verticals increasingly rely on advanced analytics tools to drive efficiency, optimize procurement processes, and enhance decision-making. As market players continue to innovate, collaborate with customers, and adapt to industry trends, the landscape is expected to witness further advancements in analytics capabilities, specialized solutions, and strategic partnerships to drive value and competitiveness in the dynamic procurement ecosystem.

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Procurement Analytics Market Overview: Strategic Questions for Analysis

• How large is the Procurement Analytics Market in terms of market cap?

• How rapidly is the Procurement Analytics Market expanding globally?

• What are the major verticals identified in the segmentation analysis for Procurement Analytics Market?

• Who are the industry leaders mentioned in the Procurement Analytics Market report?

• Which countries show strong Procurement Analytics Market activity?

• What corporations have major influence on Procurement Analytics Market trends?

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