Procurement Software Market Set to Double by 2030 with a Projected CAGR of 10.8%
Procurement Software Market Set to Double by 2030 with a Projected CAGR of 10.8%
Summary: The Global Procurement Software Market, valued at USD 7.38 billion in 2023, is anticipated to grow significantly, reaching USD 15.13 billion by 2030. This growth is driven by the increasing adoption of cloud-based solutions and advancements in procurement technologies. The market is expected to expand at a robust CAGR of 10.8% from 2024 to 2030.
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A) Market Size: In 2023, the Global Procurement Software Market was valued at USD 7.38 billion. Projections indicate that the market will experience substantial growth, reaching approximately USD 15.13 billion by 2030. This expansion reflects a strong compound annual growth rate (CAGR) of 10.8% over the forecast period.
B) Overview: The Procurement Software Market report provides a detailed analysis of the market’s current position and future outlook. The study delves into key drivers, market share, segment performance, and geographical trends. It also highlights major players, significant collaborations, and recent innovations impacting the industry.
C) Market Scope: Our comprehensive research utilizes both primary and secondary data to understand market dynamics, including supply-demand imbalances, pricing trends, and customer preferences. Advanced forecasting techniques and data validation methods have been employed to ensure accurate predictions through 2030.
D) Segmentation: The market is segmented as follows:
- By Deployment Type:
- On-Premises
- Cloud-Based (Public Cloud, Private Cloud, Hybrid Cloud)
- By Industry Vertical:
- Manufacturing
- Healthcare
- Retail
- Government
- Financial Services
E) Major Manufacturers: Key players in the Procurement Software Market include:
- North America:
- SAP Ariba (United States)
- Coupa Software (United States)
- Oracle Corporation (United States)
- GEP (United States)
- Jaggaer (United States)
- Ivalua (United States)
- Determine (United States)
- Zycus (United States)
- Basware (United States)
- Vroozi (United States)
- Basware (Finland)
- Europe:
- SynerTrade (France)
- Proactis (United Kingdom)
- SynerTrade Accelerate (Germany)
- Mercateo (Germany)
- Simfoni (United Kingdom)
- Asia-Pacific:
- Vroozi Asia Pacific (Singapore)
- SAP Ariba APJ (Asia-Pacific and Japan)
- Latin America:
- Ariba Commerce Cloud
F) Regional Analysis: The report offers a thorough examination of the Procurement Software Market across five key regions: North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Each region is analyzed for market size, forecast projections, and regional trends.
G) COVID-19 Impact Analysis: The COVID-19 pandemic has accelerated the adoption of digital and cloud-based procurement solutions as businesses sought to improve efficiency and resilience. The market has witnessed a surge in demand for procurement software solutions that support remote work and digital transformation.
H) Key Questions Answered:
- What are the high-growth opportunities in the global Procurement Software market by product type, end-user, and region?
- Which market segments are expected to grow the fastest, and what are the driving factors?
- Which regions are predicted to see the most significant growth, and why?
- What are the primary drivers and challenges impacting the Procurement Software market?
- What are the potential business risks and threats in this market?
I) Table of Contents:
- Overview
- Global Market Status and Forecast by Regions
- Global Market Status and Forecast by Types
- Global Market Status and Forecast by Downstream Industry
- Market Driving Factor Analysis
- Market Competition Status by Major Manufacturers
- Major Manufacturers Introduction and Market Data
- Upstream and Downstream Market Analysis
- Cost and Gross Margin Analysis
- Marketing Status Analysis
- Market Report Conclusion
- Research Methodology and Reference
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