Procurement is one of the most tedious aspects of managing a business. So much so that 51% of procurement leaders believe that they are not equipped to deliver on their current strategies—a problem that could lead to excessive expenditures and failed business partnerships. This is where procurement software solutions come in. These tools are equipped to automate processes when it comes to ordering new stocks as well as approving payments. Furthermore, these products can also be used to reduce processing costs (78%), boost the development of new products (58%), and manage risks (54%). But, of course, with the demands of the modern business landscape, doing these are things not enough to stay competitive. It is also important to maximize use of your procurement software by using them alongside informative, well-organized, and comprehensive data. A study showed leveraging big data and analytics is a priority among many mid-market and enterprise organizations.
This report contains market size and forecasts of Supply Chain Procurement Software in Global, including the following market information:
Global Supply Chain Procurement Software Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Supply Chain Procurement Software market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Cloud-based Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Supply Chain Procurement Software include Basware, IBM, Oracle, PROACTIS, SAP, SciQuest, BravoSolution, BuyerQuest and Coupa Software, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Supply Chain Procurement Software companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Supply Chain Procurement Software Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Supply Chain Procurement Software Market Segment Percentages, by Type, 2021 (%)
Cloud-based
On-Premise
Global Supply Chain Procurement Software Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Supply Chain Procurement Software Market Segment Percentages, by Application, 2021 (%)
Consumer Goods
Healthcare & Pharmaceuticals
Retail
Manufacturing
Food & Beverages
Transportation & Logistics
Others
Global Supply Chain Procurement Software Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Supply Chain Procurement Software Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Supply Chain Procurement Software revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Supply Chain Procurement Software revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Basware
IBM
Oracle
PROACTIS
SAP
SciQuest
BravoSolution
BuyerQuest
Coupa Software
Elcom
Epicor
Infor
IQNavigator
Ivalua
JDA Software