Supplier Relationship Management Software Market Size 2023, Share Estimation, Trend Analysis, Company Profiles with Strategies, Supply Forecast 2031

Global Supplier Relationship Management Software Market is valued at approximately USD $$ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2022-2029. Supplier Relationship Management Software provides real-time data about different aspects of Supply chain management within an organization including contacts allocated to a certain supplier, and vendor requests for quote processing. This software facilitates organizations in maintaining long-term partnerships with their suppliers. Supplier relationship management software also helps in supplier evaluation and onboarding, as well as in tracking and assessment of supplier performance. The rising expansion of global supply chain management market and growing digitization across different industries as well as strategic initiatives from leading market players are key factors accelerating the market growth.

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According to Statista - in 2019, the global Enterprise Resource Planning (ERP) software market was valued at USD 94 billion, and the market is projected to grow to USD 100.68 billion by 2025. Moreover, as per Statista - in 2020, the global supply chain management market was estimated at USD 15.85 billion, and the market is projected to reach USD 31 billion by 2026. Also, the rising advancements in ERP Solutions and increasing demand for SaaS based solutions would create lucrative opportunities for the market over the forecast period. However, high deployment costs associated with SRM Software and presence of open-source vendors impede the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Supplier Relationship Management Software Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of revenue owing to factors such as presence of leading market players as well as growing digitization across different industries in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising logistics and transportation sector coupled with growing IT infrastructure in the region.

Major market players included in this report are:

Ariba Inc.

JDA Software Group, Inc.

Intelex Technologies Inc.

Oracle

Epicor Software Corporation

Zycus Inc.

NEOCASE SOFTWARE

Determine, Inc.

DXC Technology Company

Biznet Solutions

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Recent Developments in the Market:

In June 2022, Zycus entered in a multiyear agreement with Swissport International Ltd. a global leader in airport ground services and air cargo handling. Under this partnership, Zycus would offer its AI-powered Source-to-Pay technology solution to improve complete S2P cycle time of the company. This agreement would enable the company to expand its presence in European market.
In June 2022, Texas, USA based Epicor, a global leader of industry-specific enterprise software acquired Data Interchange, a UK-based provider of Electronic Data Interchange (EDI) cloud technologies and managed services. This acquisition would enable Epicor to expand its reach in the European market.
Global Supplier Relationship Management Software Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Deployment Mode, Enterprise Size, End-Use Industry, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Deployment Mode:

On-premises

Cloud

By Enterprise Size:

Large Enterprise

Small and Medium-sized Enterprises

By End-Use Industry:

Manufacturing

Retail

Automotive

Transportation and Logistics

Telecom

BFSI

Others

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By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Aim of the Report

This study aims to determine the market size of various segments and countries with forecast values for next ten years.
Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market's future growth.
The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players' products and the competitive landscape.

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