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Retail Sourcing And Procurement Global Market Size, Share Analysis, Growth, Trends And 2023-2032
Retail Sourcing And Procurement Market Report
The Business Research Company's Retail Sourcing And Procurement Global Market Report 2023 identifies the increasing digitization as the major driver for the retail sourcing and procurement market's growth in the forecast period. Digitalization is referred to as creating a digital representation of physical attributes. Digitalization in retail sourcing and procurement helps the market by providing digital solutions.
The global retail sourcing and procurement market size grew from $4.37 billion in 2022 to $5.03 billion in 2023 at a compound annual growth rate (CAGR) of 15.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The retail sourcing and procurement market size is expected to grow to $8.21 billion in 2027 at a CAGR of 13.0%.
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Major competitors in the retail sourcing and procurement market are SAP SE, Oracle, IBM Corporation, Epicor, Proactis Holdings PLC., Zycus Inc., Blue Yonder Group Inc., Basware, Koch Industries Inc., Ivalua Inc., and GT Nexus.
A key trend in the retail sourcing and procurement market includes Strategic collaborations. Companies operating in retail sourcing and procurement solutions and services are undergoing partnerships to sustain their position in the market. For instance, in April 2021, IBM, a US-based company operating in retail sourcing and procurement collaborated with Celonis. This collaboration agreement enables colonies to offer their process mining software. This procurement software analyzes how workflows through an organization and recommends more efficient ways to complete the repeated tasks. Celonis is a Germany-based company that specializes in retail sourcing and procurement.
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The retail sourcing and procurement market is segmented -
•By Solution: Strategic Sourcing, Supplier Management, Contract Management, Procure-to-Pay, Spend Analysis
•By Service: Implementation, Consulting, Training and Support
•By Deployment: On-Premise, Hybrid, Cloud
•By End-User: Small and Medium Enterprise (SME), Large Enterprise
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the retail sourcing and procurement market.
The Business Research Company's "Global Retail Sourcing And Procurement 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 Retail Sourcing And Procurement Market Include:
1. Executive Summary
2. Retail Sourcing And Procurement Market Characteristics
3. Retail Sourcing And Procurement Market Trends And Strategies
4. Retail Sourcing And Procurement Market - Macro Economic Scenario
5. Retail Sourcing And Procurement Market Size And Growth
……
26. Africa Retail Sourcing And Procurement Market
27. Retail Sourcing And Procurement Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Retail Sourcing And Procurement Market
29. Retail Sourcing And Procurement Market Future Outlook and Potential Analysis
30. Appendix
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