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Retail Sourcing And Procurement Market: New Technology, Industry Growth, Size, Share, Forecast To 2033
Retail Sourcing And Procurement Market
As per the report, the retail sourcing and procurement market size has grown rapidly in recent years. It will grow from $5 billion in 2023 to $5.71 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The retail sourcing and procurement market size is expected to see rapid growth in the next few years. It will grow to $9.57 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%.
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Digitalization Drives Growth In The Retail Sourcing And Procurement Market
The increasing digitalization is expected to propel the growth of the retail sourcing and procurement market going forward. 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. For instance, according to NASSCOM's (National Association of Software & Services Companies) strategic review, in 2021, India's technology sector reached $194 billion estimating a 2.3% YoY increase on the back of rapid digital transformation and adoption in the country. NASSCOM has also noticed that the country's digital talent pool exceeded 1.17 million employees in 2021, with a 32% YoY surge. Therefore, the increasing digitization is driving the growth of the retail sourcing and procurement market.
Innovative Product Launches Drive Competition In Retail Sourcing And Procurement Solutions Market
Retail sourcing and procurement solution providers are launching new, innovative products to stay competitive in the market. For example, in September 2022, Craft, a leading provider of supplier intelligence platforms, announced the launch of three new product offerings - Craft Risk Hub, Craft N-Tier Mapping, and Craft Alerts - which provide real-time risk assessment with objective data and cutting-edge machine learning algorithms. Craft Risk Hub, for instance, offers supply chain and procurement experts contextualized insights on suppliers through data-driven benchmarking.
The retail sourcing and procurement market covered in this report is segmented -
1) By Solution: Strategic Sourcing, Supplier Management, Contract Management, Procure-to-Pay, Spend Analysis
2) By Service: Implementation, Consulting, Training and Support
3) By Deployment: On-Premise, Hybrid, Cloud
4) By End-User: Small and Medium Enterprise (SME), Large Enterprise
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Major companies operating in the retail sourcing and procurement market report are IBM Corporation, Oracle Corporation, SAP SE, Coupa Software Incorporated, Ivalua Inc, Zycus Inc, GEP Worldwide, Epicor Software Corporation, Basware Corporation, Vroozi Inc, ET2C International, Alibaba, RT-MART International Ltd., e-mart, Hi-Living, Gmarket, Tencent Holdings Ltd, Supreme Group, Produze, Infiniti Research, Proactis, Xella, SQLI, Sophie Candau Communication, GEODIS, PwC, ComInk, Jumia, KPMG, Dragon Sourcing, Nixu, 4iG Plc., EDS International, Blue Yonder, Protiviti, Honeywell International Inc., Cloudq, Bain & Company, Veriforce Solutions, Kroger, Theodor Wille Intertrade, Boston Consulting, Ribbons Fit Group Inc, Cayena, FLOKI Techologies, Linkana, Coletar, Rampco International Technical Services, Dukkantek, Conektr, Elkaso, Lawazem, EPCM Holdings
Contents of the report:
1. Executive Summary
2. Retail Sourcing And Procurement Market Report Structure
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
…..
27. Retail Sourcing And Procurement Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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