Procurement Analytics Market 2022 Precise Outlook - SAP SE, Oracle Corporation, SAS Institute Inc., IBM Corporation, Zycus Inc

The Procurement Analytics Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The procurement analytics market is expected to grow at a CAGR of approximately 20% over the forecast period.

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Top Leading Companies of Procurement Analytics Market are SAP SE, Oracle Corporation, SAS Institute Inc., IBM Corporation, Zycus Inc., BRIDGEi2i Analytics Solutions Pvt. Ltd., JAGGAER Inc., Genpact Limited, Rosslyn Data Technologies PLC, Simfoni Analytics and others.

Industry News and Updates

March 2020 : SAP SE integrated procurement and enterprise resource planning solutions to deliver next-generation spend management. The next-generation spend management process integration can provide complete visibility and control to help customers achieve business outcomes.

- October 2019 : Supply chain and procurement optimization solution provider LevaData collaborated with IBM to augment its data analytics capabilities. Both the companies are rolling out the DirectSpend IQ solution, which primarily deploys IBM managed services solutions with LevaData's cognitive sourcing platform. With this, the supply chain and procurement professionals can access to analytics and insights that provide necessary guidance on direct procurement cost savings opportunities.

Key Market Trends

Asia-Pacific to Witness Highest Growth

- Asia-Pacific is projected to witness the fastest growth in the procurement analytics market. The growth can be attributed to increased take-up of analytics tools among consumers as well as businesses. Spending and revenues are growing from big data and analytics sectors, hence driving the market for the procurement analytics market in the region.

- The analytics markets in the region are primarily driven by wide digital deployment across the industries, mainly in China, Japan, and India. The primary drivers of the analytics in China are the explosion of data due to increasing rates of the internet, mobile/smartphone penetration, growing urbanization development in machine learning, algorithm development, and the need for the customer and behavioral analytics.

- Many banking organizations are using Big data analytics solutions in the country. For instance, The Bank of Japan (BOJ) has been using a predictive analytics tool to analyze the economic statistics, starting by beating private forecasts on the accuracy of its GDP predictions and evolving its experimental index. This has pushed the government to assess if it's understating growth.

Regional Outlook of Procurement Analytics Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Procurement Analytics Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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