Retail Sourcing and Procurement Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Retail Sourcing and Procurement market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Retail Sourcing and Procurement Market report is anticipated to register a CAGR of 12.96% over a five years forecast period (2020 – 2023).”
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List of Major Key players operating in the Global Retail Sourcing and Procurement Market are –
- Manhattan Associates
- Proactis Holdings PLC
- Coupa Software
- Basware Corporation
- SAP SE
- Oracle Corporation
- IBM Corporation
- Epicor Software Corporation
- JDA Software Group
- GT Nexus
- Zycus Inc.
- Proactis Holdings Plc.
The Retail Sourcing and Procurement market is expected to register a CAGR of over 12.96% during the forecast period 2020 – 2023. The report profiles the on-cloud and on-premise providers of Retail Sourcing and Procurement software and service for various industries.
Due to increase in the centralization system of procurement processes with the advanced technologies and storage systems such as advanced cloud storage system which are assisting to have better visibility of data that is related to sourcing which has been a significant factor driving the market growth. Further, the continuous development in the new technologies of Artificial Intelligence (AI), cloud computing, and the Internet of Things (IoT) and its implementation across retail procurement processes aid to pave the new way for the more significant development of retail software and solutions.
Growing Demand for advanced retail sourcing and procurement solutions and services
Companies across diverse verticals are repetitively trying to find out the new areas through which they can reduce their total operational costs. The retail sector is one such area where this objective can be achieved. Implementing new advanced technologies such as artificial intelligence, deep learning with the help to automate the sourcing procurement activities in a better way. For instance, RFID chips can be placed on every product to provide a way for the business owners to track their inventory easily.
Additionally, to see the increase in the need retail sourcing and procurements software and solutions different vendors are forming the strategic partnerships with different technology leaders to combine their products with the latest technologies or some automation in the retail sourcing and procurements. For an instance, JAGGAER has done partnership with Kloepfel to enhance the Strategic Sourcing Solution with artificial intelligence technology. As the demand for the retail sourcing and procurement market is directly related to the E-Commerce penetration rates, the more E-Commerce rates around the globe, higher is the demand for retail sourcing and procurement market.
North America the largest market in terms of global share
The North America region is projected to have the largest growth in demand, during the forecast period (2020-2023), The North America provides a suitable environment for startups and SMEs, in terms of government regulations and compliance. According to Business.org, the top 20 startups of ecosystems are located in North America, for instance Austin, Texas has more than 5,500 start-ups, as well as big- tech giants firms like Facebook, Google, and Apple.
Owing to this, Retail Enterprises (SMEs and Large) are investing heavily in the North America region and aiding the significant demand for retail sourcing and procurement. Furthermore, factors such as the diverse packaging that increases demand for better network infrastructure, digital penetration in logistics and support, technological advancements are also aiding the market to grow in the region. Moreover, improved technology and streamlined global supply chains/ logistics have unchained the United States manufacturing from the limitations of geography.
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Scope of the Report:
The report analyses Retail Sourcing and Procurement market, which includes –
- Analysis of the growth of Retail Sourcing and Procurement market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Retail Sourcing and Procurement market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Retail Sourcing and Procurement market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Retail Sourcing and Procurement market are discussed.
- The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Retail Sourcing and Procurement Market Report:
- Varying dynamics of the Retail Sourcing and Procurement industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
- Retail Sourcing and Procurement market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Retail Sourcing and Procurement market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Retail Sourcing and Procurement Market Report:
- The report analyses how stringent emission control norms will drive the global Retail Sourcing and Procurement market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Retail Sourcing and Procurement market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Retail Sourcing and Procurement:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023
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