Press release
Procurement Software Market is poised to achieve a remarkable growth reaching USD 15.13 Bn by 2030 representing a robust CAGR of 10.8%
Procurement Software Market
The comprehensive report covers diverse aspects, including market dynamics, segmentation based on deployment type and industry verticals, regional insights, and competitive landscape. It offers insights into the drivers propelling market growth, challenges restraining growth, and the current market trends.
Maximize Market Research Pvt Ltd employed rigorous research methodologies to compile this insightful report. The methodology involved data collection, analysis, and validation, ensuring the accuracy and reliability of the information presented. A detailed Research Methodology section is available for review.
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Procurement Software Market Dynamics:
The report identifies cost optimization and efficiency gains as key drivers propelling the Procurement Software Market. Organizations across industries seek to reduce costs and enhance operational efficiency, driving the adoption of procurement software to automate manual processes and streamline workflows.
High initial costs associated with implementing comprehensive procurement software solutions, resistance to software adoption by employees and procurement teams, and challenges related to data security and compliance are identified as restraining factors for market growth.
The report identifies key trends shaping the Procurement Software Market. Noteworthy trends include the integration of Artificial Intelligence (AI) and Machine Learning (ML) capabilities for predictive analytics, demand forecasting, and intelligent automation. Additionally, the shift towards remote work has fueled the demand for cloud-based procurement solutions, fostering collaboration from anywhere. The rising significance of cybersecurity features within procurement software to safeguard sensitive data and transactions is also highlighted.
Procurement Software Market Regional Insights:
The report provides detailed regional insights, highlighting North America's dominance in 2023 with a market share of 34.3%. The USA is expected to continue holding the largest market share over the forecast period. The Asia-Pacific region is anticipated to grow at a CAGR of 4.5% through the forecast period.
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Procurement Software Market Segmentation:
by Deployment Type
On-Premises
Cloud-Based
Public Cloud
Private Cloud
Hybrid Cloud
by Industry Vertical
Manufacturing
Healthcare
Retail
Government
Financial Services
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Procurement Software Market Key Players:
North America:
1. SAP Ariba (United States)
2. Coupa Software (United States)
3. Oracle Corporation (United States)
4. GEP (United States)
5. Jaggaer (United States)
6. Ivalua (United States)
7. Determine (United States)
8. Zycus (United States)
9. Basware (United States)
10. Vroozi (United States)
11. Basware (Finland)
Europe:
12. SynerTrade (France)
13. Proactis (United Kingdom)
14. SynerTrade Accelerate (Germany)
15. Mercateo (Germany)
16. Simfoni (United Kingdom)
Asia-Pacific:
17. Vroozi Asia Pacific (Singapore)
18. SAP Ariba APJ (Asia-Pacific and Japan)
Latin America:
19. Ariba Commerce Cloud
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Table of content for the Procurement Software Market includes:
1.Global Procurement Software Market: Research Methodology
2.Global Procurement Software Market: Executive Summary
• Market Overview and Definitions
● Introduction to the Global Market
● Summary
● Key Findings
● Recommendations for Investors
● Recommendations for Market Leaders
● Recommendations for New Market Entry
3.Global Procurement Software Market: Competitive Analysis
• MMR Competition Matrix
● Market Structure by region
● Competitive Benchmarking of Key Players
● Consolidation in the Market
● M&A by region
● Key Developments by Companies
● Market Drivers
● Market Restraints
● Market Opportunities
● Market Challenges
● Market Dynamics
● PORTERS Five Forces Analysis
● PESTLE
● Regulatory Landscape by region
● North America
● Europe
● Asia Pacific
● Middle East and Africa
● South America
● COVID-19 Impact
4.Company Profile: Key players
• Company Overview
● Financial Overview
● Global Presence
● Capacity Portfolio
● Business Strategy
● Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2022 to 2029)
● Past Pricing and price curve by region (2022 to 2029)
● Market Size, Share, Size and Forecast by different segment | 2022-2029
● Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
● Market Segmentation - A detailed analysis by growth and trend
● Competitive Landscape - Profiles of selected key players by region from a strategic perspective
● Competitive landscape - Market Leaders, Market Followers, Regional player
● Competitive benchmarking of key players by region
● PESTLE Analysis
● PORTER's analysis
● Value chain and supply chain analysis
● Legal Aspects of business by region
● Lucrative business opportunities with SWOT analysis
● Recommendations
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About Maximize Market Research:
Maximize Market Research is a multidisciplinary market research and consulting company staffed by professionals from various industries. Its coverage spans medical devices, pharmaceutical manufacturing, science and engineering, electronic components, industrial equipment, technology and communication, automotive, chemical products, general merchandise, beverages, personal care, and automation systems. The company provides industry-verified market estimations, technical trend analysis, essential market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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