openPR Logo
Press release

Spend Management Platform Market Trends, Top Companies, Share, Growth And Forecast 2033

Spend Management Platform Market Trends

Spend Management Platform Market Trends

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Spend Management Platform Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $37.65 billion In 2028 At A CAGR Of 13.4% :

The spend management platform market size has grown rapidly in recent years. It will grow from $20.13 billion in 2023 to $22.77 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to the increased adoption of cloud-based solutions, growth in complexity of global supply chains, increased emphasis on cost reduction, growth in e-commerce, growing awareness of sustainability, and increased emphasis on data-driven decision-making.

The spend management platform market size is expected to see rapid growth in the next few years. It will grow to $37.65 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to rising demand for mobile-first solutions, increasing adoption of blockchain technology, growing interest in decentralized procurement, rising demand for real-time spend visibility, and rising emphasis on ESG (environmental, social, and governance) criteria. Major trends in the forecast period include technological advancements, mobile applications, integration of AI, blockchain integration, and cloud-based solutions.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=15675&type=smp

Spend Management Platform Market Major Segments
The spend management platform market covered in this report is segmented -

1) By Deployment: On-Premise, Cloud-Based
2) By Application: Consumer goods, Retail, Healthcare And Pharmaceutical, Manufacturing, Other Applications
3) By Enterprise: Large Enterprises, Small And Medium Enterprises

Key Driver - The Impact Of Autonomous Vessel Adoption On The Maritime Digitization Market

The expansion of e-commerce is expected to propel the growth of the spend management platform market going forward. E-commerce, short for electronic commerce, refers to the buying and selling of goods and services over the Internet. Growing E-commerce can be attributed to various factors, including the widespread adoption of smartphones and internet connectivity, changing consumer preferences towards online shopping for convenience and variety, and the expansion of digital payment options. Spend management platforms streamline procurement processes, optimize vendor relationships, and analyze purchasing data to enhance cost efficiency and profitability for e-commerce. For instance, in February 2024, according to the Census Bureau of the Department of Commerce, a US-based principal agency, the estimate of U.S. retail e-commerce sales for the fourth quarter of 2023 was $285.2 billion, an increase of 0.8% (±1.1%)* from the third quarter of 2023. Total retail sales for the fourth quarter of 2023 were estimated at $1,831.4 billion, an increase of 0.4% (±0.4%)* from the third quarter of 2023. Therefore, the expansion of e-commerce is driving the growth of the spend management platform market.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=15675&type=smp

Prominent Trend - Technologically Advanced Mobile Solutions For Optimizing Spend Management

Major companies operating in the spend management platform market are integrating their efforts into introducing solutions that utilize advanced technological features, such as artificial intelligence (AI) and machine learning (ML) technologies, to provide more efficient solutions for financial management and gain a competitive edge in the market. AI and ML technology refer to integrating intelligent algorithms and data-driven models to automate and optimize various aspects of procurement and expense management processes. For instance, in January 2024, Corpay Inc., a US-based spend management company, launched Corpay Complete, a mobile spending management platform that combines multiple financial procedures, such as corporate cards, expense reimbursements, accounts payable (AP) automation, and supplier payments, into a unified system. This platform seeks to streamline payment processes for finance teams by breaking down silos between multiple software systems and creating a centralized hub for cost management. Its primary features include artificial intelligence and machine learning technologies for invoice automation, vendor management, and expenditure management with optical character recognition.

Spend Management Platform Market Players
Major companies operating in the spend management platform market are Oracle Corporation, SAP SE, Workday Inc., The Sage Group plc, GEP Worldwide, BILL Operations LLC, Coupa Software Inc., Basware Corporation, Brex Inc., Zycus Inc., Jaggaer, Expensify Inc., Proactis Holdings Limited, Ivalua Inc., Airbase Inc., Sievo Oy, Payhawk Ltd., Procurify Technologies Inc., SynerTrade SA, SutiSoft Inc., BirchStreet Systems Inc., Vroozi Inc., TradoGram Inc., Mesh Payments Inc., BuyerQuest Holdings Inc.

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/spend-management-platform-global-market-report

Largest And Fastest Growing Region In The Market
North America was the largest region in the spend management platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spend management platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Spend Management Platform Market Report Structure
3. Spend Management Platform Market Trends And Strategies
4. Spend Management Platform Market - Macro Economic Scenario
5. Spend Management Platform Market Size And Growth
…..
27. Spend Management Platform Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Spend Management Platform Market Trends, Top Companies, Share, Growth And Forecast 2033 here

News-ID: 3547230 • Views:

More Releases from The Business research company

Telescopic Boom Forklift Truck Market Size, Insights And Overview 2024-2033
Telescopic Boom Forklift Truck Market Size, Insights And Overview 2024-2033
"The new report published by The Business Research Company, titled Telescopic Boom Forklift Truck Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends. As per the report, the telescopic boom forklift truck market size has grown strongly in recent years. It will
Subsea Manifolds Market 2024-2033 | Size, Share Analysis And Strategies
Subsea Manifolds Market 2024-2033 | Size, Share Analysis And Strategies
"The new report published by The Business Research Company, titled Subsea Manifolds Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends. As per the report, the subsea manifolds market size has grown steadily in recent years. It will grow from $3.86 billion
Spiral Freezers Market Size, Share, Insights, Growth Demand And Forecast To 2033
Spiral Freezers Market Size, Share, Insights, Growth Demand And Forecast To 2033
"The new report published by The Business Research Company, titled Spiral Freezers Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends. As per the report, the spiral freezers market size has grown strongly in recent years. It will grow from $4.21 billion
Social Media Management Market Size, Share, Growth And Overview Report 2024-2033
Social Media Management Market Size, Share, Growth And Overview Report 2024-2033
"The new report published by The Business Research Company, titled Social Media Management Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends. As per the report, the social media management market size has grown exponentially in recent years. It will grow from

All 5 Releases


More Releases for Spend

PayNXT360 Expects the Taiwan Gift Card Market to Reach US$ 3392 million by 2026| …
Gift card market in 2021 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth. Though the gift card market was impacted due to COVID-19, the market is expected to bounce back in the coming quarters, especially
Tourism Spend Analytics Spend Analytics market: size, production, prospects, con …
Tourism Spend Analytics is evolving to cope with fast digitization and tourists of the new millennium. The climate of the Tourism Spend Analytics industry is changing rapidly over time, and stakeholders are taking a different path in order to stay maritime in this market. Measuring the behavior of the market today and analyzing the swing at the customer's choice helps tour operators or hoteliers in a variety of ways. In
Want to spend your vacation in Paradise?
Date:- 27/03/2017 Address:- 15625 Front Beach Road Panama City Beach, Florida, 32413 Email:- info@aqua-gulf.com Website:- http://aqua-gulf.com Aqua, a 22-story, luxury Gulf-front resort condominium situated at 15625 Front Beach Road, Panama City Beach, Florida has been built by steadfastly upholding the highest standards of design and construction excellence, along with the utmost respect for nature by Aronov's sterling reputation. This Condo, full of all facilities is a piece of Paradise coz the environment of this resort
Hawaii Tourism market Spend Analytics & Forecast
Tourism forms an important sector of the economy of Hawaii and contributes to the economic prosperity of the region. Tourism contributes to job creation and gives an impetus to the local economy. The tourism economy of Hawaii suffered a lot due to the Great Recession of 2007 and 2008 but is now at par with the pre-recession levels and tourists are coming to Hawaii in record numbers. Hawaii Tourism Spend Analytics
Premier Spend Analyses Services at Hedgehog
Carmel, USA, 26th March 2011- In times such as these, when multi departmental organization are searching for ways to cut costs and increase productivity, profits and sales, Hedgehog come to the fore as a viable solution to solve all their supply chain challenges. We are a full service global sourcing and e procurement company that assists both government agencies and private businesses, to help them save on costs at every
Spend the Holidays with MontrealStays.com
Spend the Holidays with MontrealStays.com The holiday season is in full swing and the office of MontrealStays.com is bustling with excitement. The spirit of the season is really in the air and in the spirit of giving, MontrealStays.com is offering amazing deals during the holidays. Montreal is pure magic during the holiday season. Who can beat the dazzling decorations of Downtown Montreal or the quaint cobblestone streets of Old Montreal? MontrealStays.com