Procurement Analytics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company’s Procurement Analytics Global Market Report 2022: Market Size, Trends, And Forecast To 2026
LONDON, GREATER LONDON, UK, July 28, 2022 /EINPresswire.com/ — According to ‘Procurement Analytics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the 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 procurement analytics market growth.
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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 Trends
Technological advancements such as artificial intelligence (AI) and cognitive computing are gaining popularity and shaping the procurement analytics industry outlook. Major companies operating in the 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. For instance, in April 2020, Digitate, a software venture of Tata Consulting Services, launched ignio Cognitive Procurement, to assist enterprises in making data-driven decisions. This product utilizes AI/ML to increase the speed and accuracy of the process and assists enterprises in understanding procurement behaviour, monitoring transactions, and others.
Global Procurement Analytics Market Segments
The global procurement analytics market is segmented:
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 global procurement analytics market segmentation is divided into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.
Read more on the global procurement analytics market report here
https://www.thebusinessresearchcompany.com/report/procurement-analytics-global-market-report
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 and growth for the global procurement analytics market, procurement analytics global market share, procurement analytics global market segments and geographies, procurement analytics global market players, procurement analytics market leading competitor revenues, profiles and market shares. The procurement analytics market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Procurement Analytics Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key 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.
And so much more.
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