Procurement Analytics Market is expected to reach US $ 10.37 Bn by 2029, at a CAGR of 20.4% during the forecast period.
Procurement Analytics Market Overview:
The Procurement Analytics market study gives a complete view of the competition, including the market share and company profiles of the worldwide industry’s leading competitors. The scope of the research includes a full assessment of the Procurement Analytics r Market, as well as the reasons for variations in the industry’s growth across a number of sectors.
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research’s market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.
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Global Procurement Analytics Market is segmented by components, application, organization size, deployment type, verticals and by region. By organisation size, large enterprises held 61.45% of market share in 2021 and is expected to keep its dominance over forecast period. The need for procurement analytics has developed from many large enterprises to get a consolidated view on procurement spend. 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.
Report covers in depth analysis of key development, marketing strategies, supply chain analysis and value chain analysis and company profiles of market leaders, potential players and new entrants. Some of the key players covered in this report are SAP (Germany), Oracle (US), SAS (US), IBM (US), Coupa Software (US), Zycus (US), BRIDGEi2i Analytics (India), and JAGGAER (US) among others. These key players are adopting various organic and inorganic growth strategies such as merger & acquisitions, expansion, collaborations, joint ventures, strategic alliances, diversifications, new product launches and patent to increase their regional presence and business opeartions.
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Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary research included a review of the leading manufacturers’ annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are utilized to compute percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data.
The biggest players in the Procurement Analytics r market are as follows:
• BRIDGEi2i Analytics (India)
• JAGGAER (US)
• Rosslyn Data Technologies (England)
• Genpact (UK)
• Tamr (US)
• Simfoni (US)
• BirchStreet (US)
• Proactis (UK)
• Sievo (Finland)
• Tungsten Network
• Cisco Systems, Inc.
• Amazon Web Services, Inc.
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Procurement Analytics r market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Procurement Analytics Market:
End-user industries where Procurement Analytics r are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Procurement Analytics r manufacturers, affecting the Procurement Analytics r market’s growth in 2020. End-user business demand for Procurement Analytics r has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
Key Questions Answered in the Procurement Analytics Market Report are:
- In 2021, which segment accounted for the most share of the Procurement Analytics r market?
- What is the competitive landscape of the Procurement Analytics r market?
- What are the key factors influencing Procurement Analytics r market growth?
- In the Procurement Analytics r market, which region has the most market share?
- What will be the CAGR of the Procurement Analytics r market during the forecast period (2022-2027)?