Global Procurement Analytics Market 2019 research provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Global Procurement Analytics Market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. An exclusive data offered in this report is collected by research and industry experts team.
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The Global Procurement Analytics Market size is expected to grow from US$ 1.6 Billion in 2018 to US$ 4.1 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 20.4% during the forecast period. This report spread across 139 Pages, Profiling 10 Companies and Supported with 67 Tables and 36 Figures is now available in this Research.
Top Key Players Profiled in this report includes, 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).
“Services segment to grow at a higher CAGR during the forecast period”
The Procurement Analytics Market by service includes professional and managed services. Further, professional services have been classified into consulting, training and education, integration and deployment and support and maintenance services. These services help clients understand their procurement related processes effectively. The solution segment is expected to hold a larger market size during the forecast period.
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“Increasing deployment of cloud-based procurement analytics solutions in SMEs to drive the market during the forecast period”
The SMEs segment is expected to grow at a higher CAGR, owing to the increasing adoption of pay-as-you-go model to manage IT infrastructure as per their requirements. SMEs are concerned about the expenditures of deploying on-premises procurement analytics solutions and contracting skilled staff, and IT teams for their maintenance and hence are leaning towards cloud-based analytical solutions for improving their profit margins and efficiencies.
“Asia Pacific (APAC) to grow at the highest CAGR during the forecast period”
APAC includes major economies, such as India, China, Australia, Hong Kong, and Japan, which are rapidly deploying the procurement analytics solution. APAC is expected to grow at the highest CAGR during the forecast period. The APAC procurement analytics market is gaining traction, as the region is witnessing an increasing demand for cloud-driven analytical solutions, resulting in higher investments and technological advancements in various industry verticals.
Breakdown of primary participants’ profile:
o By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
o By Designation: C-Level: 35%, Director Level: 25%, and Others: 40%
o By Region: North America: 45%, Europe: 20%,APAC: 30%, and RoW: 5%
The Study Objectives of this report are:
o To profile the key players in the market and comprehensively analyze their market size and core competencies
o To define, describe, and forecast the procurement analytics market by component (solution, service), application area, organization size, deployment mode, vertical, and region
o To provide detailed information about major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
o To analyze the micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
o To analyze the market opportunities for stakeholders by identifying the high-growth segments of the market
o 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
o 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
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