Global Procurement Software Market Opportunities and Forecast 2020-2027
  • DLR1910
  • 05 June, 2020
  • Internet & Communication
  • Pages: 120
  • Global
Global Procurement Software Market By Deployment (On-Premise, Cloud) By Type (Contract Management, Spend Analysis, E-Procurement, E-Sourcing, Supplier Management and others) By Vertical (Retail, Automotive, Electronics, Travel & Logistics, Mining, IT & Telecommunication, and others) Opportunities and Forecast 2020-2027

Market Overview

Procurement software tools allow companies to automate various procurement tasks and procure the best rates from vendors for the tender, making it vital for companies that need to procure large volume of goods. With implementation of such software solutions, companies can join forces with suppliers, get alerts, track events and analyze the business intelligence data to gain visions into procurement process for the forecasting and planning purpose.

The growth of procurement software market is accredited to increasing demand for centralized procurement processes as well as consolidation of supply chain management (SCM). Moreover, market seeks opportunities owing to growth in various mobile procurement applications.

Segment Overview

The major factor which is driving procurement software market is consolidation of SCM (supply chain management) process that helps in reducing overall complexity of process. The other important factors that will affect procurement software market in positive way is growing need to automate procurement processes, the materialization of e-procurement technology will open up new prospects for market growth in coming years. Quality control will suffer owing to automation of procurement process thus hindering the growth of procurement software market. Other factors that will affect growth of the procurement software market undesirably is its complex procedure and one needs to have extensive training in order to operate it.

Regional Overview

Region-wise, global procurement software market is expanded into Asia Pacific, North America, Eastern Europe, Middle East and Africa. North America is region that has the largest market globally for procurement software market. The presence of market players that are involved in providing the services of procurement software market for instance Oracle, Google, IBM are located in the North America. Asia Pacific region is having a good share in global procurement software market. In developing countries such as China and India from the Asia Pacific region have not shown interest in adopting services that are provided by procurement software. The key reason for the disinterest is lack of industry experts and shortage of skilled specialists. There are other regions that have not accepted this software which is due to insufficient knowledge of the software and therefore maximum advantage of the software is not made.

Competitor overview

Procurement software helps the users integrate business processes and also to improve the overall value of the businesses. It facilitates transparency in the financial supply chains and also contract details for producing invoices to the complete payments. Sellers are offering software solutions that help establishments to automate the procurement activities which in turn upsurge the demand for the products in the global market. Such activities include automation of the invoice management systems, order management process, electronic requisitioning process, and other procurement related activities.

Key Players Procurement software Market
  1. IBM Corporation
  2. Oracle Corporation
  3. SAP SE
  4. Coupa Software Incorporated
  5. Infor Inc.
  6. Epicor Software Corporation
  7. Zycus Inc.
  8. JDA Software Inc.
  9. Mercateo AG

Market Segmentation

Procurement software Market By Deployment
  • On-Cloud
  • On-Premise
Procurement software Market By Type
  • Spend Analysis
  • E-Sourcing
  • E-Procurement
  • Contract Management
  • Supplier Management
  • Others
Procurement software Market By Type
  • Retail, Automotive
  • Travel & Logistics
  • Electronics
  • IT & Telecommunication
  • Mining
  • Others
Procurement software Market By Geography
  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
    • Brazil
    • Saudi Arabia
    • UAE
    • Rest of LAMEA

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