Global Procurement Software Market size was valued at US$ 6.27 Bn. in 2021 and the total revenue is expected to grow at 8 % through 2021 to 2029, reaching nearly US$ 11.61 Bn.
Procurement Software Market Overview
The report by Maximize Market Research focuses on the Procurement Software market and provides an in-depth analysis by segments and sub-segments in global and regional markets. The report also includes drivers, restraints, and macro factors affecting the global and regional Procurement Software markets in the medium and long run. The research includes an in-depth analysis of the global Procurement Software market’s trends, predictions, and monetary values. According to the report, between the years 2021 and 2029, the global Procurement Software market is predicted to grow at a significant CAGR.
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Procurement Software Market Scope
The report explores demand through forecasts period, market trends, and micro and macro determinants. Moreover, the research illustrates the variables that are driving and limiting the Procurement Software market’s growth. The MMR provides existing and new market participants insight into prospective investment opportunities in Procurement Software market. To give market insights, the report employs analytical approaches such as Porter’s five forces analysis and PESTLE of the Procurement Software market. In addition, the study looks at current market trends as well as estimates for the years 2021-2029. The report identified important future developments that will have an impact on demand over the forecast period in the market.
Procurement Software Market Segmentation
When deployed, With a 54.10% market share in 2021, the on-premises deployment model segment led the industry. However, it is predicted that the market will contract throughout the projection period as a result of businesses starting to use cloud procurement software due to its affordability, flexibility, and agility. The need for cloud procurement software solutions will also increase due to the necessity of making significant initial and ongoing investments in hardware, software upgrades, servers, and the hiring of qualified personnel for on-premises deployment.
With a 30.3% market share in 2021, the Manufacturing industry category led the market. Manufacturing organisations are increasingly embracing technology-driven solutions for procurement outsourcing that allow them to concentrate on their core competencies, such as manufacturing expertise, production, and on-time delivery. Simplify production procedures to save a lot of money. These elements are fueling market expansion.
1. Preface
1.1. Market Definition and Key Research Objectives
1.2. Research Highlights
2. Assumptions and Research Methodology
2.1. Report Assumptions
2.2. Abbreviations
2.3. Research Methodology
2.3.1. Secondary Research
2.3.1.1. Secondary data
2.3.1.2. Secondary Sources
2.3.2. Primary Research
2.3.2.1. Data from Primary Sources
2.3.2.2. Breakdown of Primary Sources
3. Executive Summary: Procurement Software Market Size, by Market Value (US$ Bn)
3.1. Market Segmentation
3.2. Market Segmentation Share Analysis, 2020
3.2.1.
3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa)
3.3. Geographical Snapshot of the Procurement Software Market
3.4. Geographical Snapshot of the Procurement Software Market, By Manufacturer share
Procurement Software Market Key Players
• Basware
• IBM
• Oracle
• PROACTIS
• SAP
• SciQuest
• BravoSolution
• BuyerQuest
• Coupa Software Inc.
• Elcom
• Epicor
• Infor
• IQNavigator
• Ivalua
• JDA Software
• Manhattan Associates
• OpusCapita
• Tradeshift
• Tungsten Network
• Vinimaya
• Zycus
Regional Analysis
The research report gives a detailed analysis of the Procurement Software market that is divided into regions. The report includes an evaluation of regional market participants operating in the competitive market, as well as findings existing in the target market. Based on the regional and country by-country, the research evaluates the market in North America, Latin America, Europe, Asia Pacific (APAC), Africa, and the Middle East. Each region’s market is thoroughly studied, allowing for the discovery of regional Procurement Software market trends, constraints, and growth potential.
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Key Questions answered in the Procurement Software Market Report are:
Key offerings:
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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