E-Commerce And Organized Retail Sector Driving Growth In Procurement Analytics Market: Critical Driver Shaping the Global Procurement Analytics Market in 2025

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Procurement Analytics Market Size Valuation Forecast: What Will the Market Be Worth by 2025?_x000D_
In recent times, the procurement analytics market has experienced rapid expansion. It's projected to rise from $5.36 billion in 2024 to $6.25 billion in 2025, reflecting a compound annual growth rate (CAGR) of 16.7%. This significant growth during the historic period is due to factors such as the imperative of cost reduction, management of supplier performance, compliance, risk mitigation, optimization of strategic sourcing, and improved spend visibility._x000D_
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Procurement Analytics Market Size Forecast: What's the Projected Valuation by 2029?_x000D_
The market size of procurement analytics is projected to experience a significant surge in the coming years, reaching a staggering $14.43 billion in 2029 with a compound annual growth rate (CAGR) of 23.2%. The expansion during the forecasted period is likely due to the concentration on sustainable procurement, dynamic pricing optimization, bespoke dashboards and reports, and improved contract management analytics. Notable trends anticipated during this period comprise the escalated utilization of sophisticated analytics, emphasis on spend visibility, the amalgamation with other procurement technologies, real-time analytics for active decision-making, and AI-powered insights for effective supplier relationship management._x000D_
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What Are the Drivers Transforming the Procurement Analytics Market?_x000D_
The expansion of e-commerce and organized retail is set to fuel the overall growth of the procurement analytics sector. Defined as a platform for buyers and sellers to trade goods and services online via websites, applications and other online methods on various devices, e-commerce heavily utilizes procurement analytics. This analytical tool is highly appreciated by e-commerce giants and organized retail establishments for its data-supported analysis of customers' buying patterns and expenditure insights. An example is from August 2023 where the US Census Bureau noted a spike in e-commerce activities in Q2 of 2023 by 7.5% (or 1.4%) from Q2 of 2022, while the overall retail sales experienced a modest hike of 0.6% (or 0.4%). The Bureau also observed that online stores accounted for 15.4% of all sales in Q2 of 2023. Thus, the increasing implementation of e-commerce and structured retailing is expected to escalate the demand for procurement analytics in the forecast period._x000D_
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What Long-Term Trends Will Define the Future of the Procurement Analytics Market? _x000D_
Major companies active in the procurement analytics market are unveiling fresh analytics tools like EY Spend Insights. This provides a comprehensive perspective on spending profiles, radically improving procurement spend visibility, and fostering unified supply chain networks across multiple sectors. To illustrate, EY, a consulting firm based in the UK, rolled out EY Spend Insights (EY SPI) on the Snowflake Data Cloud in June 2023, which obviates the need for manual management tasks. This solution takes advantage of sophisticated analytics, automation, and machine learning skills. EY SPI revolutionizes the transparency of procurement spend and encourages interconnected supply chain networks across a range of industries such as retail, consumer packaged goods, advanced manufacturing, and mobility._x000D_
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Which Segments in the Procurement Analytics Market Offer the Most Profit Potential?_x000D_
The procurement analyticsmarket covered in this report is segmented - _x000D_
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1) By Component: Solutions, Services_x000D_
2) By Deployment Mode: Cloud, On-Premises_x000D_
3) By End User: Retail And E-commerce, Manufacturing, Government And Defense, Healthcare And Life Sciences, Telecom And IT, Energy and Utilities, Banking, Financial Services, And Insurance, Other End Users_x000D_
4) By Application: Supply Chain Analytics, Risk Analytics, Spend Analytics, Demand Forecasting, Contract Management, Vendor Management, Category Management_x000D_
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Subsegments:_x000D_
1) By Solutions: Spend Analytics Solutions, Supplier Analytics Solutions, Contract Analytics Solutions, Procurement Performance Analytics Solutions, Risk Management Analytics Solutions _x000D_
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services _x000D_
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Which Firms Dominate the Procurement Analytics Market by Market Share and Revenue in 2025?_x000D_
Major companies operating in the procurement analytics market include SAP SE, Oracle Corporation, Statistical Analysis Systems, Coupa Software Inc., Genpact, Jaggaer, GEP Worldwide, Ivalua Inc., Zycus, ProcurePort, Basware, SynerTrade, Corcentric, Scout RFP, BirchStreet, Periscope Holdings,Tealbook,Keelvar,Proactis,Sievo,Xeeva Inc., POOL4TOOL AG,Vroozi,Rosslyn Data Technologies,Simfoni,Applegate,Scanmarket,EC Sourcing Group _x000D_
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Which Regions Offer the Highest Growth Potential in the Procurement Analytics Market?_x000D_
North America was the largest region in the procurement analytics market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the procurement analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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