Procurement analytics may be a package tool that gives quantitative methods to derive actionable insights and outcomes from datasets. The procurement analytics offer comprehensive information about the historical data, and with the help of prognostic analytical tools enables enterprises to forecast future trends. These quantitative data allows enterprises with data-driven decision-making to gain a competitive advantage in the market. Moreover, implementing analytics in the procural method, permits enterprises to realize better visibility and control over expenses.
Integration of analytics with technological trends such as the internet of Things (IoT) and cognitive computing is likely to propel the adoption of the procurement method for highly insightful decision-making. Thus, rising want for extremely efficient solutions for the procural method to increase the operational potency is expected to drive the procural analytics market during the assessment period. Also, surge in demand for cloud-based procurement solutions and rise in demand for data-driven solutions is likely to drive the procurement analytics market during the forecast period.
On the other hand, lack of secured solutions, privacy concerns, and lack of technical expertise are some of the factors that hinder the growth of the procural analytics market over future few years.
The global Procurement Analytics market is expected to be around US$ 6 Billion by 2025 at a CAGR of 21% in the given forecast period.
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The global Procurement Analytics market is segregated on the basis of Application Area as Supply Chain Analytics, Risk Analytics, Spend Analytics, Demand Forecasting, Contract Management, and Vendor Management. Based on Deployment the global Procurement Analytics market is segmented in Cloud and On-Premises. Based on End-User Industry the global Procurement Analytics market is segmented in Telecom and IT, Retail, Media and Entertainment, Manufacturing, Healthcare, Government, Energy and Power, Education, BSFI, and Other.
Based on Organization Size, the global Procurement Analytics market is segmented in Small & Medium Business and Large Scale Enterprises. The report also bifurcates the global Procurement Analytics market based on Service in Professional Services and Managed Service.
The global Procurement Analytics market report provides geographic analysis covering regions, such as North America, Europe, Asia-Pacific, and Rest of the World. The Procurement Analytics market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Oracle Co, Coupa Software, BRIDGEi2i, Rosslyn Data Technologies, SAP, SAS Institute Inc., JAGGAER, Genpact, Zycus, Proactis, and others are among the major players in the global Procurement Analytics market. The companies are involved in several growth and expansion strategies to gain a competitive advantage. Industry participants also follow value chain integration with business operations in multiple stages of the value chain.
The Procurement Analytics Market has been segmented as below:
Procurement Analytics Market, By Application Area
Supply Chain Analytics
Procurement Analytics Market, By Deployment
Procurement Analytics Market, By End-User Industry
Telecom and IT
Media and Entertainment
Energy and Power
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Procurement Analytics Market, By Organization Size
Small & Medium Business
Large Scale Enterprises
Procurement Analytics Market, By Service
Procurement Analytics Market, By Region
Rest of the World
Procurement Analytics Market, By Company
Rosslyn Data Technologies
SAS Institute Inc.
The report covers:
Global Procurement Analytics market sizes from 2016 to 2025, along with CAGR for 2019-2025
Market size comparison for 2017 vs 2025, with actual data for 2017, estimates for 2018 and forecast from 2019 to 2025
Global Procurement Analytics market trends, covering comprehensive range of consumer trends & manufacturer trends
Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Procurement Analytics market
Major market opportunities and challenges in forecast timeframe to be focused
Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
Comprehensive company profiles of the key industry players
The global Procurement Analytics market report scope includes detailed study covering underlying factors influencing the industry trends.
The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies.
The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Procurement Analytics market share. Major industry players with significant revenue share include Oracle Co, Coupa Software, BRIDGEi2i, Rosslyn Data Technologies, SAP, SAS Institute Inc., JAGGAER, Genpact, Zycus, Proactis, and others.
Reasons to Buy this Report:
Gain detailed insights on the Procurement Analytics industry trends
Find complete analysis on the market status
Identify the Procurement Analytics market opportunities and growth segments
Analyze competitive dynamics by evaluating business segments & product portfolios
Facilitate strategy planning and industry dynamics to enhance decision making.
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