Press release
Key Influencer in the Spend Analytics For Electronics And Semiconductor Market 2025: Consumer Electronics Demand Propels Spend Analytics Market Expansion Driver
Key Influencer in the Spend Analytics
The market size of spend analytics for the electronics and semiconductor sector has experienced considerable expansion over the recent past. Predicted growth sees it rise from $0.64 billion in 2024 to $0.76 billion in 2025, with a compound annual growth rate (CAGR) of 17.5%. This notable growth during the historic period is credited to a surge in consumer demand for electronics and semiconductors, an increased emphasis on sustainable initiatives, the mounting complexity of international supply chains within the sector, escalated cost pressures, and greater attention towards strengthening supplier relationships.
The market size for spend analytics in the electronics and semiconductor sector is projected to witness substantial expansion in the years to come. By 2029, it is anticipated to reach a worth of $1.32 billion, with a compound annual growth rate (CAGR) of 14.9%. The growth during the projected period is primarily driven by factors such as growing demand for advanced electronics, the increasing intricacy of supply chains, focus on cost optimization, significance of supplier diversity and sustainability, along with rising concerns about cybersecurity. The prediction period is also expected to witness key trends such as technological progressions, real-time monitoring, blockchain technology integration, adoption of prescriptive analytics, and a shift towards outcome-based pricing models.
What Factors Are Propelling the Expansion of the Spend Analytics For Electronics And Semiconductor Market?
The growth of the spend analytics for electronics and semiconductors market is envisaged to be spurred by the ascending demand for consumer electronics. Consumer electronics, including devices such as smartphones, laptops, and home entertainment systems designed for individual and daily use, have seen an upsurge in demand due to technological advancements, enhanced connectivity, and shifting lifestyle choices. Spend analytics for electronics and semiconductors contribute to cost cutting and strategic planning, fostering efficiency and innovation in the consumer electronics sector. For example, in May 2023, the Japan Electronics and Information Technology Industries Association informed that the production of total electronic equipment in Japan attained $5,128.55 million (¥771,457 million). Additionally, in May 2023, production of consumer electronics peaked at $213.39 million (¥32,099 million), a rise from $155.79 million (¥23,425 million) in January 2023. Hence, the escalating demand for consumer electronics is propelling the expansion of spend analytics within the electronics and semiconductor markets.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14510&type=smp
Which Businesses Are at the Forefront of Spend Analytics For Electronics And Semiconductor Market Development?
Major companies operating in the spend analytics for electronics and semiconductor market are International Business Machines Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Coupa Software Inc., Basware Corporation, Ivalua Inc., Xeeva Inc., GEP Solutions Pvt. Ltd., Zycus Inc., Jaggaer, Proactis Holdings PLC, BirchStreet Systems Inc., Simfoni, Agiloft, Sievo, Keelvar, Pool4Tool, HICX Solutions Ltd., Rosslyn Analytics Ltd., Claritum Ltd., Lytica Inc., EC Sourcing Group, Vortal Connecting Business SA
What Are the Latest Innovations in the Spend Analytics For Electronics And Semiconductor Market?
Prominent firms in the electronics and semiconductor spend analytics market are prioritizing the development of AI-integrated platforms including cutting-edge spend management solutions, to stay ahead in the competition. These tools utilize sophisticated technologies to regulate, analyze, and automate organizational expenses for improved financial performance. For example, Coupa Software, an American firm offering a cloud-based business spend management (BSM) platform, unveiled Community AI in February 2022, an avant-garde platform that reinvents spend management. This trailblazing solution promotes participation in AI development and facilitates cooperation via open-source projects, discussion forums, and initiatives for sharing knowledge. Acting as a nexus, it rallies AI aficionados, scholars, software developers, and professionals to ideate, contribute to projects, and push the boundaries of AI collectively. The platform provides unmatched scale and velocity, yielding valuable business insights for its clients.
How Is the Spend Analytics For Electronics And Semiconductor Market Segmented?
The spend analytics for electronics and semiconductor market covered in this report is segmented -
1) By Type: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics
2) By Component: Software, Service
3) By Deployment: On-Premise, Cloud
4) By Application: Financial Management, Risk Management, Governance And Compliance Management, Supplier Sourcing And Performance Management, Demand And Supply Forecasting, Other Applications
Subsegments:
1) By Descriptive Analytics: Historical Spend Analysis, Spend Trend and Pattern Analysis, Vendor Performance and Spend Classification
2) By Predictive Analytics: Forecasting Demand and Supply, Predicting Future Spending Patterns, Price Trend Prediction and Supplier Risk Forecasting
3) By Prescriptive Analytics: Spend Optimization and Cost Reduction Strategies, Supplier Selection and Negotiation Strategies, Procurement Process Improvement
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/spend-analytics-for-electronics-and-semiconductor-global-market-report
Where Is the Spend Analytics For Electronics And Semiconductor Market Growth Most Prominent?
North America was the largest region in the spend analytics for electronics and semiconductor market in 2024. The regions covered in the spend analytics for electronics and semiconductor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Spend Analytics For Electronics And Semiconductor Global Market Report?
- Market Size Analysis: Analyze the Spend Analytics For Electronics And Semiconductor Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Spend Analytics For Electronics And Semiconductor Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Spend Analytics For Electronics And Semiconductor Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Spend Analytics For Electronics And Semiconductor Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14510
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: mailto:info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Learn More About The Business Research Company
The Business Research Company ( https://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 Key Influencer in the Spend Analytics For Electronics And Semiconductor Market 2025: Consumer Electronics Demand Propels Spend Analytics Market Expansion Driver here
News-ID: 3856300 • Views: …
More Releases from The Business Research Company
Global Smart Hospital Market Projected to Surpass $157.37 Billion by 2029 with 2 …
What combination of drivers is leading to accelerated growth in the smart hospital market?
The surge in the use of internet-connected medical devices and equipment within healthcare facilities is anticipated to fuel the expansion of the smart hospital industry. Such devices and instruments, which form a broad network within hospitals, are used to gather extensive data from various business and medical procedures. The widespread use of these devices and instruments is…
In-Depth Analysis of the Small Commercial Vehicle Market: Growth Opportunities, …
What industry-specific factors are fueling the growth of the small commercial vehicle market?
The expansion of the e-commerce industry is predicted to fuel the advancement of the small commercial vehicle market in the future. E-commerce denotes the internet-based purchase and sale of goods and services. Small commercial vehicles assist with last-mile deliveries in this sector, providing prompt and effective delivery of items to ultimate consumers. For example, the Census Bureau of…
Serverless Architecture Market Set to Reach $41.14 Billion by 2029 with 23.2% Ye …
Which drivers are expected to have the greatest impact on the over the serverless architecture market's growth?
The surge in demand for serverless computing to support DevOps methodologies is forecasted to fuel the serverless architecture market's expansion. Serverless computing is a cloud computing model that allows developers to develop and deploy applications on externally governed Infrastructure, effectively eliminating worries about capacity planning, configurations, management, upkeep, fault tolerance or scaling of containers,…
Key Influencer in the Route Optimization Software Market 2025: Rising Demand For …
How Are the key drivers contributing to the expansion of the route optimization software market?
The burgeoning requirement for online meal delivery services is anticipated to fuel the expansion of the route optimization software market. Online meal delivery services, which are platforms or apps that enable customers to request meals from eateries or food cooperatives via a website or mobile app for doorstep delivery, are increasingly gaining popularity due to their…
More Releases for Analytics
Security Analytics Market Report 2018: Segmentation by Application (Network Secu …
Global Security Analytics market research report provides company profile for Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Hewlett Packard Enterprise (U.S.), EMC RSA (U.S.), FireEye, Inc. (U.S.), Arbor Networks, Inc. (U.S.), LogRhythm, Inc. (U.S.), Alert Logic (Click Security) and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of…
Life Science Analytics Market 2025 Future Forecast by Product Overview - Predict …
The growth of the life science analytics market can be attributed to the increasing prevalence of chronic diseases and growing need for improved data standardization. Moreover, use of analytics in precision & personalized medicine, and increasing focus on improving patient outcomes also likely to add new opportunities for the global life science analytics market over the forecast period.
Life Science Analytics Market to 2025 - Global Analysis and Forecasts by Type…
Predictive Analytics Market Report 2018: Segmentation by Type (Services, Solutio …
Global Predictive Analytics market research report provides company profile for Alteryx, Inc. (US), AgilOne (US), Angoss Software Corporation (Canada), Domino Data Lab (US), Dataiku (US), Exago, Inc. (US), Fair Isaac Corporation (FICO) (US), GoodData Corporation (US) and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY…
Predictive Analytics Market (Services, Solutions (Financial Analytics, Risk Anal …
Global Predictive Analytics Market Report 2023,” industry verticals, the Banking, Financial Services, and Insurance (BFSI) industry vertical is expected to have the largest market share during the forecast period. Organizations operating in the BFSI industry vertical are using predictive analytics for effective and efficient management of various processes. Further, the major reason for the rising adoption of predictive analytics can be attributed to the need for minimizing the risks and…
Prescriptive and Predictive Analytics Market By Type (Collection Analytics, Mark …
ResearchMoz presents this most up-to-date research on "Prescriptive and Predictive Analytics Market By Type (Collection Analytics, Marketing Analytics, Supply-Chain Analytics, Behavioral Analytics & Talent Analytics): Global Size, Status and Forecast, 2022".
This report studies the global Prescriptive and Predictive Analytics market, analyzes and researches the Prescriptive and Predictive Analytics development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in…
Global Analytics Service Market by Type: Predictive analytics, Prescriptive anal …
Learning Objective
• To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the global Analytics as a service Market.
• To provide insights about factors affecting the market growth.
• To Analyze the Analytics as a service Market based on various factors- porters five force analysis, mega trend analysis, macroeconomic indicators etc.
• To provide historical and forecast revenue of the…
