Press release
Leading Element Driving Change in the Procurement Software Market in 2025: The Impact Of Cloud-Based Solutions On The Procurement Software Driver
Procurement Software
The widespread adoption of cloud-based solutions is expected to accelerate the growth of the procurement software market. Cloud-based solutions are preferred for their scalability, flexibility, and cost-effectiveness, improving procurement software by offering better collaboration, enhanced security, and seamless integration. In December 2023, Eurostat reported that the use of cloud computing services by enterprises in the EU grew by 4.2 percentage points in 2023 compared to 2021. As a result, the adoption of cloud-based solutions is driving the procurement software market's growth.
Get Your Procurement Software Market Report Here:
https://www.thebusinessresearchcompany.com/report/procurement-software-global-market-report
What Is the projected market size and growth rate for the procurement software market?
The procurement software market has seen rapid growth in recent years, and it is expected to increase from $8.65 billion in 2024 to $9.85 billion in 2025, at a CAGR of 13.9%. Factors driving this growth include improved procurement data accuracy, a rising focus on sustainable procurement, the need for automation, and growing demand for e-procurement solutions.
The procurement software market is projected to grow to $16.38 billion by 2029, at a CAGR of 13.6%. Growth drivers include the need for efficient supply chain management, automated procurement processes, centralized procurement, and smart procurement solutions. Trends include AI integration, technological advancements, integration with other enterprise systems, online portals, and cloud-based solutions.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16518&type=smp
What new trends are reshaping the procurement software market and its opportunities?
In the procurement software market, companies are focusing on solutions like spend management systems to optimize and manage organizational spending. These tools streamline procurement processes from budgeting to payment. For example, in April 2023, Airbase Inc., a US-based software company, introduced a guided procurement solution. This tool integrates seamlessly with existing workflows, providing an intuitive interface to guide users through each procurement step while ensuring policy compliance and real-time budget visibility.
What major market segments define the scope and growth of the procurement software market?
The procurement software market covered in this report is segmented -
1) By Software Type: Supplier Management, Contract Management, E-Procurement, E-Sourcing, Spend Analysis
2) By Deployment: On-Cloud, On-Premise
3) By Organization Size: Small And Medium Size Enterprises, Large Enterprises
4) By Vertical: Travel And Logistics, Information Technology And Telecommunications, Electronics, Automotive, Retail, Mining, Others Verticals
Subsegments:
1) By Supplier Management: Supplier Performance Management, Supplier Risk Management, Supplier Onboarding
2) By Contract Management: Contract Creation And Negotiation, Contract Lifecycle Management, Contract Compliance Management
3) By E-Procurement: Purchase Order Management, Supplier Catalog Management, Procurement Workflow Automation
4) By E-Sourcing: Reverse Auctions, Request for Proposal (RFP) Management, Supplier Discovery And Evaluation
5) By Spend Analysis: Spend Data Collection And Categorization, Spend Visibility And Reporting, Spend Optimization And Forecasting
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16518
Which region dominates the procurement software market?
North America was the largest region in the procurement software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the procurement software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the procurement software industry growth?
Major companies operating in the procurement software market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Tata Consultancy Services Ltd., HCL Technologies Limited, Infor Inc, GEP Corporation, Epicor Software Corporation, Coupa Software Inc., Zycus Inc., Mercateo AG, Ivalua Inc., Basware Corporation, Jaggaer Inc, Proactis Holdings plc, Tropic Technologies Inc., Simfoni Limited, Enaviya Information Technology Pvt. Ltd, Determine Inc., Ginesys, SunSmart Technologies Pvt. Ltd., GT Nexus, Vroozi Inc.
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=16518&type=smp
What Is Covered In The Procurement Software Global Market Report?
•Market Size Forecast: Examine the procurement software market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the procurement software market for a structured understanding.
•Key Players Overview: Analyze major players in the procurement software market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the procurement software market.
•Segment Contributions: Evaluate how different segments drive overall growth in the procurement software market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the procurement software market.
•Industry Challenges: Identify potential risks and obstacles affecting the procurement software market.
•Competitive Landscape: Review strategic developments in the procurement software market, including expansions, agreements, and new product launches.
Connect with 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.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
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 Leading Element Driving Change in the Procurement Software Market in 2025: The Impact Of Cloud-Based Solutions On The Procurement Software Driver here
News-ID: 3932113 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Management
Gym Management Software Market By Functions - Scheduling Appointments, Waitlist …
MarketResearchReports.Biz announces addition of new report "Gym Management Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025" to its database.
Gym management software is a software solution which allows the users to manage the different processes associated with running a gym in an efficient and effective manner. These software solutions are generally multifunctional and can manage all the diverse processes associated with managing a gym…
Water Network Management, Water Network Management trends, Water Network Managem …
MarketStudyReport.com adds a new 2018-2023 Global Water Network Management Market Report focuses on the major drivers and restraints for the global key players providing analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.
This report presents a comprehensive overview, market shares, and growth opportunities of by Water Network Management product type, application, key manufacturers and key regions. Over the next five years, Water Network Management will…
Cloud Project Portfolio Management Market Report 2018: Segmentation by Applicati …
Global Cloud Project Portfolio Management market research report provides company profile for CA Technologies (New York, U.S.), HPE (California, U.S.), Changepoint Corporation (Richmond Hill, Ontario), Clarizen, Inc. (California, U.S.), Microsoft Corporation (Washington, U.S.) 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 growth rate, and…
Prescriptive analytics Market Outlook 2025 focus On: Risk Management, Operation …
A detailed market study on "Global Prescriptive analytics Market" examines the performance of the Prescriptive analytics Market. It encloses an in-depth Research of the Prescriptive analytics Market state and the competitive landscape globally. This report analyzes the potential of Prescriptive analytics Market in the present and the future prospects from various prospective in detail.
Get Free Sample Report@ https://databridgemarketresearch.com/request-a-sample/?dbmr=global-prescriptive-analytics-market
Prescriptive analytics market accounted for USD 1.20 billion growing at a CAGR of…
Facility Management Market Solutions & Services (Real Estate & Lease Management, …
ReportsWeb.com added “Global Facility Management Market to 2025” to its vast collection of research Database. The report classifies the global Facility Management Market in a precise manner to offer detailed insights into the aspects responsible for augmenting as well as restraining market growth.
Facility Management is an essential part which handles all functions related to enterprise and helps in streaming all the operations with reducing cost. Managing life cycle management of…
Telecom Expense Management Market Analysis For Financial Management, Order Manag …
The telecom expense management (TEM) market report provides analysis for the period 2014–2024, wherein the period from 2016 to 2024 is the forecast period and 2015 is the base year. The report covers all the major trends and technologies playing a key role in telecom expense management market growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence the market’s growth during the said…
