Learn about the global Procurement Analytics market through The Business Research Company, which provides information on Procurement Analytics market size, Procurement Analytics market drivers and restraints, Procurement Analytics market players, the COVID-19 impact on the Procurement Analytics market, and more.

The global procurement analytics market is expected to grow from $3.41 billion in 2021 to $4.07 billion in 2022 at a compound annual growth rate (CAGR) of 19.40%. The global procurement analytics market size is expected to grow to $8.36 billion in 2026 at a compound annual growth rate (CAGR) of 19.71%.

Growth in e-commerce and the organized retail industry is expected to propel the growth of the procurement analytics market.

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The procurement analytics market consists of the sales of procurement analytics solutions and services by entities (organizations, partnerships, and sole proprietors) that refer to software that automates spend analysis and purchase analysis and operates completely organizations’ expenditure through an insightful dashboard. These procurement analytics solutions collect data from various sources such as ERPs, process raw data into use-case taxonomies, and display it in visualization dashboards.

Global Procurement Analytics Market Segments Include:
By Component: Solutions, Services

By Deployment Mode: Cloud, On-Premises

By End User: Retail and E-commerce, Manufacturing, Government and Defense, Healthcare and Life Sciences, Telecom and IT, Energy and Utilities, Banking, Financial Services, and Insurance, Others

By Application: Supply Chain Analytics, Risk Analytics, Spend Analytics, Demand Forecasting, Contract Management, Vendor Management, Category Management

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global Procurement Analytics market in 2021.

Technological advancements such as artificial intelligence (AI) and cognitive computing are gaining popularity in the procurement analytics market. Major companies operating in the procurement analytics sector are focused on developing and implementing new technological solutions such as AI to expand their product portfolio and strengthen their position in the market.

TBRC’s Procurement Analytics Market Report Covers:

Major Market Players: SAP, Oracle, Coupa Software, Genpact, Rosslyn Data Technologies, IBM, Cisco, Microsoft Corp, BirchStreet Systems LLC, Sievo, Corcentric, Zycus, Amazon Web Services, Inc, and JAGGAER LLC.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Procurement Analytics Global Market Report 2022  is one of a series of new reports from The Business Research Company that provides Procurement Analytics market overviews, analyzes and forecasts market size, share, Procurement Analytics market players, Procurement Analytics market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s Procurement Analytics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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