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Procurement Analytics Market 2023 - Industry Insights, New Trends, Growth, And Forecast To 2032
Procurement Analytics Market
The Business Research Company's Procurement Analytics Global Market Report 2023 identifies growth in e-commerce and the organized retail industry is expected to propel the growth of the procurement analytics market. Procurement analytics is widely used by e-commerce giants and organized retail stores, as it offers data-driven analysis of customer behaviors and spending analysis.
The global procurement analytics market size grew from $4.08 billion in 2022 to $4.88 billion in 2023 at a compound annual growth rate (CAGR) of 19.8%. The procurement analytics market size is expected to grow to $10.26 billion in 2027 at a CAGR of 20.4%
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Major competitors in the procurement analytics market are SAP, Oracle, Coupa Software, Genpact, Rosslyn Data Technologies, IBM, Cisco, Microsoft Corp., BirchStreet Systems LLC, Sievo, Corcentric, Zycus, Amazon Web Services, Inc., and JAGGAER LLC.
Technological advancements such as artificial intelligence (AI) and cognitive computing are gaining popularity in the procurement analytics market. Major companies operating in the procurement analytics sector are focused on developing and implementing new technological solutions such as AI to expand their product portfolio and strengthen their position in the market.
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The procurement analytics market is segmented -
• By Component: Solutions, Services
• By Deployment Mode: Cloud, On-Premises
• By End User: Retail and E-commerce, Manufacturing, Government and Defense, Healthcare and Life Sciences, Telecom and IT, Energy and Utilities, Banking, Financial Services, and Insurance, Other End Users
• By Application: Supply Chain Analytics, Risk Analytics, Spend Analytics, Demand Forecasting, Contract Management, Vendor Management, Category Management
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the procurement analytics market.
The Business Research Company's "Global Procurement Analytics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Procurement Analytics Market Include:
1. Procurement Analytics Market Executive Summary
2. Procurement Analytics Market Segments
3. Procurement Analytics Market Size And Procurement Analytics Market Growth Rate
4. Key Procurement Analytics Market Trends
5. Major Procurement Analytics Market Drivers
……
25. Key Mergers And Acquisitions In The Procurement Analytics Market
26. Top Procurement Analytics Companies
27. Procurement Analytics Market Opportunities And Strategies
28. Procurement Analytics Market, Conclusions And Recommendations
29. Appendix
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