Procurement Analytics Market

Procurement Analytics Market by Component, Application Area (Supply Chain Analytics, Risk Analytics, Spend Analytics, Demand Forecasting, and Contract Management), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2023

Report Code: TC 7022 Apr, 2019, by marketsandmarkets.com

[138 Pages Report] The global procurement analytics market size is expected to grow from USD 1.6 billion in 2018 to USD 4.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 20.4% during the forecast period.

The increasing focus on enhancing procurement channels’ operational efficiencies, an imminent need to handle compliance polices and contracts, organizations’ struggle to sustain their position in the competitive environment are main drivers for the procurement analytics market. The market for services segment is growing as individuals, Small and Medium-sized Enterprises (SMEs), and large enterprises are adopting services to enhance their productivity.

The procurement analytics market study aims at estimating the market size and future growth potential of the market across segments, namely components (solutions and services), application areas, deployment types, organization sizes, verticals, and regions.

Procurement Analytics Market

The solutions segment to constitute the largest market size during the forecast period

The demand for procurement analytics solutions is rising, as organizations are looking for solutions to comply with stringent regulations related to their accounts and procurement data, increasing adoption of market intelligence by suppliers, and the necessity to keep company’s expenditure to the minimum without affecting its operations.

The SMEs segment to grow at a higher CAGR during the forecast period

The management of SMEs are concerned about the expenditures of deploying on-premises procurement analytics solutions and contracting skilled staff, and IT teams for their maintenance. To overcome these issues, SMEs are leaning toward cloud-based solutions. The industry players are also making efforts to improve their profit margins and increase their market share by either introducing dedicated cloud platforms or associating with other cloud service organizations.

The procurement analytics solutions and services have been deployed across industry verticals, including retail and eCommerce, manufacturing, government and defense, healthcare and life sciences, telecom and IT, energy and utilities, Banking, Financial Services, and Insurance (BFSI), and others. The retail and eCommerce vertical is expected to grow at the highest CAGR during the forecast period, while the telecom and IT vertical is estimated to have the largest market size in 2018.

Procurement Analytics Market

North America to account for the largest market size in the procurement analytics market during the forecast period

The global market has been segmented on the basis of regions into North America, Europe, APAC, MEA, and Latin America to provide a region-specific analysis in the report. The North American region, followed by Europe, is expected to become the largest revenue-generating region for procurement analytics solution and service vendors in 2018. Increasing Internet of Things (IoT), cloud adoption, and need for supply chain and demand intelligence trend are some of the key factors expected to fuel the growth of the market in North America. The APAC market is gaining traction, as the demand for predictive analytics is increasing in developed and developing nations in APAC. SMEs as well as large scale organizations in the APAC region are highly relying on procurement analytics for vendor management, contract management, risk management, and spend analysis.

Key Procurement Analytics Market Players

Major vendors offering procurement analytics services across the globe include SAP (Germany), Oracle (US), SAS (US), IBM (US, Coupa Software (US), Zycus(US), BRIDGEi2i Analytics (India), JAGGAER (US), Rosslyn Data Technologies (England), Genpact (UK), Tamr (US), Simfoni (US), BirchStreet (US), Proactis (UK), and Sievo (Finland). These vendors have adopted various types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and acquisitions, to expand their offerings in the market.

Oracle is one of the leading vendors in the world’s largest global procurement analytics market. The company provides solutions for procurement, strategic sourcing, and spend management. The company provides end-to-end insight into the spend patterns and visibility across the procurement processes which can significantly reduce costs, enhance profitability, increase customer satisfaction, and gain a competitive advantage for the organizations. It plans to develop new business models and integrate multi-application solutions as a part of its future strategy. Similarly, SAP, another leading procurement analytics solutions provider, has implemented various strategies to deliver cutting-edge procurement analytics to global organizations. Various organic and inorganic growth strategies are helping the procurement analytics vendors to stay ahead in the global market.

Scope of the Report

Report Metrics

Details

Market size available for years

2016–2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

Million (USD)

Segments covered

component (solution, service), application area, organization size, deployment mode, vertical, and region

Regions covered

North America, APAC, Europe, MEA, and Latin America

Companies covered

SAP (Germany), Oracle (US), SAS (US), IBM (US, Coupa Software (US), Zycus (US), BRIDGEi2i Analytics (India), JAGGAER (US), Rosslyn Data Technologies (England), Genpact (UK), Tamr (US), Simfoni (US), BirchStreet (US), Proactis (UK), and Sievo (Finland)

This research report categorizes the procurement analytics market based on component, application area, organization size, deployment mode, vertical, and region.

Based on components, the procurement analytics market has the following segments:

  • Solutions
  • Services
    • Professional Services
      • Training and Education
      • Consulting
      • Integration and Deployment
      • Support and Maintenance
    • Managed Services

Based on Application area, the procurement analytics market has the following segments:

  • Supply Chain Analytics
  • Risk Analytics
  • Spend Analytics
  • Demand Forecasting
  • Contract Management
  • Vendor Management

Based on Organization Size, the procurement analytics market has the following segments

  • SMEs
  • Large Enterprises

Based on deployment type, the procurement analytics market has the following segments

  • Cloud
  • On-premises

Based on Verticals, the procurement analytics market has the following segments:

  • Banking, Financial Services, and Insurance
  • Government and Defense
  • Retail and eCommerce
  • Healthcare and Lifesciences
  • Telecom and IT
  • Energy and Utilities
  • Manufacturing and
  • Others (Media and Entertainment, Transportation and Logistics, Real Estate and Construction, and Education)

Based on region, the procurement analytics market covers the following major regions:

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • Japan
    • India
    • Rest of APAC
  • MEA
    • Middle East
    • Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Recent Developments:

  • In February 2019, Barclay Commercial Payments, part of Barclays Bank PLC partnered with SAP UK Limited to integrate its B2B payment product, Precisionpay, into SAP Ariba solutions. This integration would give Ariba Network users seamless end-to-end procurement experience by integrating procurement and payment solutions.
  • In February 2019, Munich Re, a Germany-based reinsurance, primary insurance, and insurance-related risk solutions provider, partnered with Coupa Software to implement source-to-pay solution for its procurement and related spend management processes.

Key questions addressed by the report:

  • Define, describe, and forecast the procurement analytics market based on components (solutions and services), authentication channels, deployment types, organization sizes, verticals, and regions
  • Detailed analysis of the market’s subsegments with respect to individual growth trends, prospects, and contributors to the total market
  • Revenue forecast of the market’s segments with respect to 5 major regions, namely, North America, Europe, APAC, MEA, and Latin America
  • Detailed analysis of the competitive developments, such as mergers and acquisitions, new product developments, and business expansion activities, in the market

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regions Covered
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakup of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Breakup and Data Triangulation
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Forecast
    2.5 Assumptions for the Study
    2.6 Limitations of the Study

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Market Opportunities in the Procurement Analytics Market
    4.2 Market By Component, 2018–2023
    4.3 Market By Service, 2018–2023
    4.4 Market Market Share of Top 3 Professional Services and Regions, 2018
    4.5 Market By Organization Size, 2018
    4.6 Market Top 3 Verticals
    4.7 Market Investment Scenario

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Focus on Enhancing Procurement Channels’ Operational Efficiencies
                    5.2.1.2 Imminent Need to Handle Compliance Polices and Contracts
                    5.2.1.3 Organizations’ Struggle to Sustain Their Position in the Competitive Environment
           5.2.2 Restraints
                    5.2.2.1 Growing Concerns Over Data Security Across Enterprises
                    5.2.2.2 Complexities in Streamlining the Processes and Concerns Regarding Data Privacy
           5.2.3 Opportunities
                    5.2.3.1 Advent of ML and AI in Procurement Process
                    5.2.3.2 Growing Demand for Cloud-Based Analytical Solutions
           5.2.4 Challenges
                    5.2.4.1 Lack of Analytical Expertise
                    5.2.4.2 Reluctance to Adopt Advanced Analytical Technologies
    5.3 Regulatory Implications
           5.3.1 Sarbanes-Oxley Act of 2002
           5.3.2 General Data Protection Regulation
           5.3.3 Government Procurement Agreement
    5.4 Use Cases
           5.4.1 Adoption of Procurement Analytics Solutions for Improving the Productivity and Optimizing Issues
           5.4.2 Leading Chemical Firm Adopted Procurement Analytics Solution for Improved Reporting and Efficiency of the Process
           5.4.3 Implementation of Procurement Analytics Solutions By A Packaging Manufacturer Firm to Handle ITs Procurement and Spend Portfolios
    5.5 Innovation Spotlight
           5.5.1 Latest Innovations in Procurement Analytics
    5.6 Analytics Types

6 Procurement Analytics Market By Component (Page No. - 44)
    6.1 Introduction
    6.2 Solutions
           6.2.1 Advancements in ML and AI to Accelerate the Adoption of Procurement Analytics
    6.3 Services
           6.3.1 Professional Services
                    6.3.1.1 Training and Education
                               6.3.1.1.1 Need for Skilled Employees Among Enterprises to Boost the Demand for Training and Education Services
                    6.3.1.2 Consulting
                               6.3.1.2.1 Need for Enhancing the Strategic Outlook of Organizations to Drive the Growth of Consulting Services Segment
                    6.3.1.3 Support and Maintenance
                               6.3.1.3.1 Initial Need for Support and Maintenance During Pre-Installation and Post-Installation to Trigger the Growth of Support and Maintenance Services
                    6.3.1.4 Integration and Deployment
                               6.3.1.4.1 Need for Integrating Advanced Analytical Solutions With Existing/Traditional Services to Drive the Growth of Deployment and Integration Services
           6.3.2 Managed Services
                    6.3.2.1 Need for Monitoring and Maintaining Software Operations and Reducing Overhead Costs to Drive the Growth of Managed Services

7 Procurement Analytics Market, By Application Area (Page No. - 54)
    7.1 Introduction
    7.2 Supply Chain Analytics
           7.2.1 Increasing Need for Supplier and Market Intelligence to Drive the Growth of Supply Chain Analytics Segment
    7.3 Risk Analytics
           7.3.1 Need to Mitigate Risk and Reduce Associated Cost to Drive the Growth of Risk Analytics Segment
    7.4 Spend Analytics
           7.4.1 Need for Analyzing Expenditure Data and Reducing Procurement Cost to Drive the Growth of Spend Analytics Segment
    7.5 Demand Forecasting
           7.5.1 Need for Analysis of Demand Signals From Forecasts, Consumption Data, and Syndicated Industry Information to Drive the Growth of Demand Forecasting Segment
    7.6 Contract Management
           7.6.1 Need for Stronger Relationships With Customers and Suppliers to Drive the Demand for Contract Management
    7.7 Vendor Management
           7.7.1 Need for Vendor Management to Aid in Cost Control, Risk Reduction, and Excellent Service Delivery

8 Procurement Analytics Market, By Deployment Type (Page No. - 57)
    8.1 Introduction
    8.2 Cloud
           8.2.1 Focus on Improved Agility and Return on Investment to Drive the Adoption of Cloud Deployment Type
    8.3 On-Premises
           8.3.1 Need for Better Control Over Confidential Data to Propel the Adoption of On-Premises Solutions

9 Procurement Analytics Market, By Organization Size (Page No. - 61)
    9.1 Introduction
    9.2 Small and Medium-Sized Enterprises
           9.2.1 Small and Medium-Sized Enterprises to Adopt Pay-As-You-Go Model to Manage IT Infrastructure as Per Their Requirements
    9.3 Large Enterprises
           9.3.1 Procurement Analytics Helps Large Organizations Increase Savings, Improve Business Functioning, and Sustain Intense Competition

10 Procurement Analytics Market, By Vertical (Page No. - 65)
     10.1 Introduction
     10.2 Retail and eCommerce
             10.2.1 Need for Procurement Analytics to Enhance Business Productivity, Lower Costs, and Optimize Business Networks in Retail and eCommerce
     10.3 Manufacturing
             10.3.1 Demand for Procurement Analytics to Improve Operational Efficiency and Financial Performance in Manufacturing
     10.4 Government and Defense
             10.4.1 High Adoption of Spend Analytics Tools in Government and Defense Sector to Improve Spend Visibility and Track Opportunities for Savings
     10.5 Healthcare and Life Sciences
             10.5.1 High Adoption of Procurement Analytics in Healthcare and Life Sciences Vertical for Contract Management and Spend Analytics
     10.6 Telecom and IT
             10.6.1 Telecom and IT to Account for the Largest Market Size in the Procurement Analytics Market
     10.7 Energy and Utilities
             10.7.1 Organizations Catering to Energy and Utilities Industry Vertical to Deal With Government Policies, Tax Initiatives, and Subsidies to Promote Energy Conservation and Demand Reduction
     10.8 Banking, Financial Services, and Insurance
             10.8.1 High Adoption of Procurement Analytics in BFSI for Contract Management, Spend Analytics, and Risk Analytics
     10.9 Others

11 Procurement Analytics Market, By Region (Page No. - 75)
     11.1 Introduction
     11.2 North America
             11.2.1 United States
                        11.2.1.1 The US to Hold A Larger Market Size in the Procurement Analytics Market in North America
             11.2.2 Canada
                        11.2.2.1 Canada to Witness A Higher Growth Rate in the Market in North America
     11.3 Europe
             11.3.1 United Kingdom
                        11.3.1.1 The Growth of the Manufacturing Industry in the Region to Drive the Market
             11.3.2 Germany
                        11.3.2.1 Germany to Witness the Highest Growth Rate in the Procurement Analytics Market in Europe
             11.3.3 France
                        11.3.3.1 France to Witness Significant Adoption of Procurement Analytics Solutions in the Coming Years
             11.3.4 Rest of Europe
     11.4 Asia Pacific
             11.4.1 China
                        11.4.1.1 The Emergence of Mobile Technologies, Cloud Computing, and Increased Automation to Bolster Procurement Analytics Penetration in China
             11.4.2 Japan
                        11.4.2.1 Investments in Ai-Based Analytics Technology to Grow in Japan
             11.4.3 India
                        11.4.3.1 Increase in Investments Among Startups and Growth of the Manufacturing Industry Vertical in the Region to Trigger Supply Chain Analytics Adoption in the Region
             11.4.4 Rest of Asia Pacific
     11.5 Middle East and Africa
             11.5.1 Middle East
                        11.5.1.1 Procurement to Be the Next Step of Advancement for Improving Operations and Services in the Middle East
             11.5.2 Africa
                        11.5.2.1 The Growth of the Manufacturing Industry Vertical, Coupled With the Retail and Consumer Goods Industry Vertical, to Boost Procurement Analytics Adoption
     11.6 Latin America
             11.6.1 Brazil
                        11.6.1.1 Brazil to Witness the Highest Growth Rate in the Market in Latin America
             11.6.2 Mexico
                        11.6.2.1 Mexico to Account for the Largest Market Size in the Procurement Analytics Market in Latin America
             11.6.3 Rest of Latin America

12 Competitive Landscape (Page No. - 99)
     12.1 Competitive Leadership Mapping
             12.1.1 Visionary Leaders
             12.1.2 Innovators
             12.1.3 Dynamic Differentiators
             12.1.4 Emerging Companies
     12.2 Strength of Product Portfolio
     12.3 Business Strategy Excellence
     12.4 Competitive Scenario
             12.4.1 Partnerships, Agreements, and Collaborations
             12.4.2 New Product Launches/Product Enhancements
             12.4.3 Mergers and Acquisitions

13 Company Profiles (Page No. - 107)
     13.1 Introduction
(Business Overview, Solutions, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     13.2 SAP
     13.3 Oracle
     13.4 SAS
     13.5 Coupa Software
     13.6 BRIDGEi2i
     13.7 Rosslyn Data Technologies
     13.8 JAGGAER
     13.9 Zycus
     13.10 Genpact
     13.11 Proactis
     13.12 BirchStreet
     13.13 Tamr
     13.14 Simfoni
     13.15 Sievo

*Details on Business Overview, Solutions, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.

14 Appendix (Page No. - 132)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Available Customizations
     14.4 Related Reports
     14.5 Author Details


List of Tables (67 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Procurement Analytics Market Size and Growth Rate, 2016–2023 (USD Million, Y-O-Y %)
Table 3 Market Size By Component, 2016–2023 (USD Million)
Table 4 Solutions: Market Size By Region, 2016–2023 (USD Million)
Table 5 Services: Market Size By Type, 2016–2023 (USD Million)
Table 6 Services: Market Size By Region, 2016–2023 (USD Million)
Table 7 Professional Services Market Size, By Region, 2016–2023 (USD Million)
Table 8 Professional Services Market Size, By Type, 2016–2023 (USD Million)
Table 9 Training and Education Market Size, By Region, 2016–2023 (USD Million)
Table 10 Consulting Market Size, By Region, 2016–2023 (USD Million)
Table 11 Support and Maintenance Market Size, By Region 2016–2023 (USD Million)
Table 12 Integration and Deployment Market Size, By Region, 2016–2023 (USD Million)
Table 13 Managed Services Market Size, By Region, 2016–2023 (USD Million)
Table 14 Procurement Analytics Market Size, By Deployment Type, 2016–2023 (USD Million)
Table 15 Cloud: Market Size By Region, 2016–2023 (USD Million)
Table 16 On-Premises: Market Size By Region, 2016–2023 (USD Million)
Table 17 Market Size By Organization Size, 2016–2023 (USD Million)
Table 18 Small and Medium-Sized Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 19 Large Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 20 Procurement Analytics Market Size, By Vertical, 2016–2023 (USD Million)
Table 21 Retail and eCommerce: Market Size By Region, 2016–2023 (USD Million)
Table 22 Manufacturing: Market Size By Region, 2016–2023 (USD Million)
Table 23 Government and Defense: Market Size By Region, 2016–2023 (USD Million)
Table 24 Healthcare and Life Sciences: Market Size By Region, 2016–2023 (USD Million)
Table 25 Telecom and IT: Market Size By Region, 2016–2023 (USD Million)
Table 26 Energy and Utilities: Market Size By Region, 2016–2023 (USD Million)
Table 27 Banking, Financial Services, and Insurance: Market Size By Region, 2016–2023 (USD Million)
Table 28 Others: Market Size By Region, 2016–2023 (USD Million)
Table 29 Procurement Analytics Market Size, By Region, 2016–2023 (USD Million)
Table 30 North America: Market Size By Component, 2016–2023 (USD Million)
Table 31 North America: Market Size By Service, 2016–2023 (USD Million)
Table 32 North America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 33 North America: Market Size By Deployment Type, 2016–2023 (USD Million)
Table 34 North America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 35 North America: Market Size By Vertical, 2016–2023 (USD Million)
Table 36 North America: Market Size By Country, 2016–2023 (USD Million)
Table 37 Europe: Procurement Analytics Market Size, By Component, 2016–2023 (USD Million)
Table 38 Europe: Market Size By Service, 2016–2023 (USD Million)
Table 39 Europe: Market Size By Professional Service, 2016–2023 (USD Million)
Table 40 Europe: Market Size By Deployment Type, 2016–2023 (USD Million)
Table 41 Europe: Market Size By Organization Size, 2016–2023 (USD Million)
Table 42 Europe: Market Size By Vertical, 2016–2023 (USD Million)
Table 43 Europe: Market Size By Country, 2016–2023 (USD Million)
Table 44 Asia Pacific: Procurement Analytics Market Size, By Component, 2016–2023 (USD Million)
Table 45 Asia Pacific: Market Size By Service, 2016–2023 (USD Million)
Table 46 Asia Pacific: Market Size By Professional Service, 2016–2023 (USD Million)
Table 47 Asia Pacific: Market Size By Deployment Type, 2016–2023 (USD Million)
Table 48 Asia Pacific: Market Size By Organization Size, 2016–2023 (USD Million)
Table 49 Asia Pacific: Market Size By Vertical, 2016–2023 (USD Million)
Table 50 Asia Pacific: Market Size By Country, 2016–2023 (USD Million)
Table 51 Middle East and Africa: Procurement Analytics Market Size, By Component, 2016–2023 (USD Million)
Table 52 Middle East and Africa: Market Size By Service, 2016–2023 (USD Million)
Table 53 Middle East and Africa: Market Size By Professional Service, 2016–2023 (USD Million)
Table 54 Middle East and Africa: Market Size By Deployment Type, 2016–2023 (USD Million)
Table 55 Middle East and Africa: Market Size By Organization Size, 2016–2023 (USD Million)
Table 56 Middle East and Africa: Market Size By Vertical, 2016–2023 (USD Million)
Table 57 Middle East and Africa: Market Size By Subregion, 2016–2023 (USD Million)
Table 58 Latin America: Procurement Analytics Market Size, By Component, 2016–2023 (USD Million)
Table 59 Latin America: Market Size By Service, 2016–2023 (USD Million)
Table 60 Latin America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 61 Latin America: Market Size By Deployment Type, 2016–2023 (USD Million)
Table 62 Latin America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 63 Latin America: Market Size By Vertical, 2016–2023 (USD Million)
Table 64 Latin America: Market Size By Country, 2016–2023 (USD Million)
Table 65 Partnerships, Agreements, and Collaborations, 2019
Table 66 New Product Launches/Product Enhancements, 2017–2018
Table 67 Mergers and Acquisitions, 2016–2018


List of Figures (36 Figures)

Figure 1 Procurement Analytics Market: Research Design
Figure 2 Market: Bottom-Up and Top-Down Approaches
Figure 3 Factor Analysis
Figure 4 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 5 North America to Hold the Highest Market Share in 2018
Figure 6 Fastest-Growing Segments of the Procurement Analytics Market
Figure 7 Need to Generate Valuable Insights From Spend, Contract, and Vendor Management Data to Drive the Growth of the Procurement Analytics Market
Figure 8 Solutions Segment to Hold A Higher Market Share During the Forecast Period
Figure 9 Professional Services Segment to Hold A Higher Market Share During the Forecast Period
Figure 10 Consulting Services and North America to Hold the Largest Market Shares in 2018
Figure 11 Large Enterprises Segment to Hold A Higher Market Share in 2018
Figure 12 Telecom and IT Vertical to Hold the Highest Market Share in 2018
Figure 13 Asia Pacific to Emerge as the Best Market for Investments in the Next 5 Years
Figure 14 Drivers, Restraints, Opportunities, and Challenges: Procurement Analytics Market
Figure 15 Procurement Analytics Market: Analytics Types
Figure 16 Services Segment to Record A Higher CAGR During the Forecast Period
Figure 17 Managed Services Segment to Record A Higher CAGR During the Forecast Period
Figure 18 Cloud Deployment Type to Record A Higher Growth During the Forecast Period
Figure 19 Small and Medium-Sized Enterprises Segment to Record A Higher CAGR During the Forecast Period
Figure 20 Retail and eCommerce Vertical to Record the Highest CAGR During the Forecast Period
Figure 21 North America to Hold the Highest Market Share During the Forecast Period
Figure 22 North America: Market Snapshot
Figure 23 Asia Pacific: Market Snapshot
Figure 24 Procurement Analytics Market (Global) Competitive Leadership Mapping, 2018
Figure 25 Key Developments By the Leading Players in the Market During 2016–2018
Figure 26 Geographic Revenue Mix of the Top Players in the Market
Figure 27 SAP: Company Snapshot
Figure 28 SWOT Analysis: SAP
Figure 29 Oracle: Company Snapshot
Figure 30 SWOT Analysis: Oracle
Figure 31 SAS: Company Snapshot
Figure 32 SWOT Analysis: SAS
Figure 33 Coupa Software: Company Snapshot
Figure 34 SWOT Analysis: Coupa Software
Figure 35 Rosslyn Data Technologies: Company Snapshot
Figure 36 Genpact: Company Snapshot

The study involved 4 major activities in estimating the current market size of the procurement analytics market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakup and data triangulation procedures were used to estimate the market size of the market’s segments and subsegments.

Secondary research

In the secondary research process, various secondary sources, such as D&B Hoovers, Bloomberg BusinessWeek, and Factiva, have been referred to, for identifying and collecting information for this study. These secondary sources included annual reports; press releases and investor presentations of companies; whitepapers, certified publications, and articles by recognized authors; gold standard and silver standard websites; security technologies Research and Development (R&D) organizations; regulatory bodies; and databases.

Primary research

Various primary sources from both supply and demand sides of the procurement analytics market ecosystem were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, related key executives from various vendors who provide the procurement analytics solutions, associated services, and technology integrators operating in the targeted regions. All parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Following is the breakup of the primary respondents’ profiles:

Procurement Analytics Market

To know about the assumptions considered for the study, download the pdf brochure

Procurement Analytics Market Size Estimation

For making market estimates and forecasting the procurement analytics market and the other dependent submarkets, top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global procurement analytics market using the revenues and offerings of the key companies in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the market were identified through extensive secondary research.
  • The market size, in terms of value, was determined with the help of the primary and secondary research processes.

All percentage shares, splits, and segment breakups were determined using secondary sources and verified through primary sources.

Data Triangulation

With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.

Report Objectives

  • To define, describe, and forecast the procurement analytics market by component (solution, service), application area, organization size, deployment mode, vertical, and region
  • To provide detailed information about major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To analyze the micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
  • To analyze the market opportunities for stakeholders by identifying the high-growth segments of the market
  • To forecast the market size of the market’s segments with respect to 5 main regions, namely North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
  • To profile the key players in the market and comprehensively analyze their market size and core competencies
  • To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations, in the global procurement analytics market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
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Published ON
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