Procurement Software Market research report is a complete overview of the market that spans various aspects such as product definition, customary vendor landscape, and market segmentation based on various parameters such as type of product, its components, type of management and geography. The report has wide-ranging and comprehensive market insights which are based on business intelligence. The Procurement Software Market report is generated based on the market type, size of the organization, availability on-premises, the end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.
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Global procurement software market is driven by increasing demand for smart phones, which is projecting a rise in estimated value from USD 6471.99 million in 2018 to an estimated value of USD 13632.99 million by 2026, registering a CAGR of 9.76% in the forecast period of 2019-2026.
Market Definition: Global Procurement Software Market
Procurement software can be defined as application that coordinated & automates the task which is involved in acquiring the product & service information. This software enables automation in procurement or purchase of the product for the organization which provides the information to every employee so that everyone related to procurement department gets updated about the prices & the quantity.
- Rise in the need of procurement process automation which reduces the complexity & gives the transparent information within the organization.
- Due to consolidation of supply chain management which decreased the process complexity, this increased the demand for procurement software.
- There is lack of infrastructure in many organization to be compatible with traditional & conventional system
- Hindrance within the quality due to automation in procurement leads to restraining this market.
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Segmentation: Global Procurement Software Market
- By Deployment
- By Software type
- Spend Analysis
- Contract Management
- Supplier Management
- By Organization Size
- Small And Medium Enterprise
- Large Enterprises
- By Vertical
- Travel & Logistics
- IT & Telecommunication
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In April 2018, SAP launched a procurement network & manufacturing collaboration. This platform will enable the service provider & the manufacturer to collaborate on product design, procurement & production.
- In July 2018, FuelPlus launched procurement solution for aviation fuel. This will help the aviation company to work more efficiently & to do paperless fuel tenders
Competitive Analysis: Global Procurement Software Market
Global procurement software market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of procurement software market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Procurement Software Market
Few of the major competitors currently working in procurement software market are Oracle, IBM Corporation, Coupa Software Inc., Epicor Software Corporation, JDA Software Inc., Mercateo , SAP SE,, Zycus Inc, Infor, Tungsten Corporation plc., OpusCapita Solutions Oy, Ivalua Inc., Epicor Software Corporation, Proactis Holdings Plc, SAP SE , JAGGAER, Tradeshift, Basware, BuyerQuest Holdings Inc.
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Research Methodology: Global Procurement Software Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request An Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
The Procurement Software Market report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Procurement Software Market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
- Market Development: Comprehensive information about emerging markets. This report analyses the market for various segments across geographies.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Procurement Software Market.
How will this Market Intelligence Report Benefit You?
- The report offers statistical data in terms of value (US$) as well as Volume (units) till 2027.
- Exclusive insight into the key trends affecting the Procurement Software Market industry, although key threats, opportunities and disruptive technologies that could shape the Global Procurement Software Market supply and demand.
- The report tracks the leading market players that will shape and impact the Global Procurement Software Market
- The data analysis present in the Procurement Software Market report is based on the combination of both primary and secondary resources.
- The report helps you to understand the real effects of key market drivers or retainers on Procurement Software Market
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Strategic Points Covered in TOC:
Chapter 1: Introduction, market driving force product scope, market risk, market overview, and market opportunities of the global Procurement Software market
Chapter 2: Evaluating the leading manufacturers of the global Procurement Software market which consists of its revenue, sales, and price of the products
Chapter 3: Displaying the competitive nature among key manufacturers, with market share, revenue, and sales
Chapter 4: Presenting global Procurement Software market by regions, market share and with revenue and sales for the projected period
Chapter 5, 6, 7, 8 and 9: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions
In the end, the Procurement Software market is analysed for revenue, sales, price, and gross margin. These points are examined for companies, types, applications, and regions.
To summarize, the global Procurement Software market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry. The market factors impacting the global sector also include provincial trade policies, international trade disputes, entry barriers, and other regulatory restrictions.
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