Global Procurement Software Market to Reach USD 15.13 Billion by 2030, Growing at a CAGR of 10.8%
Summary:
The Global Procurement Software Market, valued at USD 7.38 billion in 2023, is expected to reach USD 15.13 billion by 2030, growing at a compound annual growth rate (CAGR) of 10.8% during the forecast period. This market expansion is driven by the increasing demand for efficient procurement processes across various industries, coupled with advancements in cloud-based technologies and automation.
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A) Market Size:
The Global Procurement Software Market, which stood at USD 7.38 billion in 2023, is anticipated to nearly double in size, reaching USD 15.13 billion by 2030. The market is projected to grow at a robust CAGR of 10.8% over the forecast period, driven by the increasing adoption of cloud-based procurement solutions and the growing need for streamlined procurement processes in various sectors, including manufacturing, healthcare, and government.
B) Overview:
Maximize Market Research provides a comprehensive analysis of the Procurement Software Market, offering insights into the market's dynamic landscape. This report highlights the key factors influencing the market's growth, including technological advancements, the shift towards digital procurement solutions, and the rising demand for cost-effective procurement processes.
C) Market Scope:
The report delves into the qualitative and quantitative aspects of the market, providing a thorough understanding of the trends, dynamics, and other critical issues shaping the Procurement Software Market. The study identifies the most significant developments expected to impact the industry and offers insights into the competitive landscape, market dynamics, and key opportunities for growth.
D) Segmentation:
The Procurement Software Market is segmented based on deployment type and industry vertical:
-
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:
The competitive landscape of the global Procurement Software Market is characterized by the presence of key players from various regions. These 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 provides an in-depth analysis of the Procurement Software Market across key regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region is examined based on its market size, growth rate, and key trends, with North America expected to dominate the market due to the presence of leading market players and the rapid adoption of advanced procurement technologies.
G) COVID-19 Impact Analysis:
The COVID-19 pandemic has had a significant impact on global supply chains, accelerating the adoption of digital procurement solutions. As organizations strive to enhance their procurement processes and ensure business continuity, the demand for procurement software has surged, contributing to the market's growth.
H) Key Questions Answered:
- Which product segment holds the largest market share in the Procurement Software Market?
- What is the competitive landscape of the Procurement Software Market?
- What are the key factors driving the growth of the market?
- Which region has the largest market share?
- What will be the market's CAGR during the forecast period?
- Which application segment is expected to lead the market?
- Who are the key players in the Procurement Software Market?
- What major trends are expected to emerge in the market?
- How big will the Procurement Software Market be by 2030?
- Which company holds the largest market share?
I) Table of Contents:
- Introduction
- Market Overview
- Market Size and Forecast
- Market Dynamics
- Market Segmentation
- Regional Analysis
- Competitive Landscape
- COVID-19 Impact Analysis
- Key Questions Answered
- Conclusion
For further details, feel free to reach out to us at any time: https://www.maximizemarketresearch.com/market-report/global-procurement-software-market/26731/
About Us:
Maximize Market Research is a leading market research and business consulting firm dedicated to providing high-quality insights and analysis across a wide range of industries. Our reports help businesses understand the market landscape, identify growth opportunities, and make informed decisions. With a commitment to excellence, we serve clients globally, offering tailored solutions to meet their specific needs.
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