Global Vendor Management Software Market, Trends, Analysis, Opportunities, Share and Forecast – 2019-2025 – Surfacing Magazine

“Global Vendor Management Software Market valued approximately USD 4.61 billion in 2018 is anticipated to grow with a healthy growth rate of more than 12.60% over the forecast period 2019-2026.”

The Vendor Management Software Market is continuously growing in the global scenario at a significant pace. Vendor management is also known as supplier management. Vendor management software performs initial registration, ongoing performance assessment, recording non-conformance, implementing corrective or preventative actions, and tracking results. Vendor management software enables organizations to control costs, drive service excellence, and mitigate risks to gain increased value from vendors.

The surging utility of cloud computing, escalating need to reduce administrative costs, increasing demand from mainly small and medium scale organizations and surging need of compliance management are the substantial driving factors of the market during the forecast period. Moreover, rising demand for integrated vendor management solutions is the major factor that likely to create numerous opportunities in the near future. In addition, vendor management software helps companies to coordinate the entire vendor relationship from acquiring a vendor through the delivery of goods and services to issuing of paychecks is another factor that impelling the growth of the market during the forecast period. However, high implementation & maintenance cost and is one of the major factors that limiting the growth of the market across the world.

The regional analysis of Global Vendor Management Software Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the leading/significant region across the world in terms of market share due to increasing demand for vendor management software among BFSI & telecom industries and the presence of upgraded technologies in the region. Europe is estimated to grow at a significant growth rate in the global Vendor Management Software market over the upcoming years. Further, Asia-Pacific anticipated exhibiting higher growth rate / CAGR over the forecast period 2019-2026 owing to rising adoption of software in various industries to enhance supply chain & customer service across the region.

The major market player included in this report are:

IBM Emptoris
Intelex Technologies
Master Control
MetricStream
SAP Ariba
Zycus

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Cloud
On-premises

By Application:

BFSI
Retail
IT & Telecommunication
Government
Others

By Regions:

North America
The U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Target Audience of the Global Vendor Management Software Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors