The Procurement Analytics Market report includes an overview, which interprets value chain structure, industrial environment, regional analysis, applications, types market size, and forecast. The report is integrated with imperative insights on the market which will support the clients to make precise business decisions. The report incorporates data regarding the supply and demand situation, the competitive scenario, and the challenges for market growth, market opportunities, and the threats encountered by key players during the forecast period of 2021-2025. This is the latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. The procurement analytics market is expected to grow at a CAGR of approximately 20% over the forecast period
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Procurement Analytics Market: SAP SE, Oracle Corporation, SAS Institute Inc., IBM Corporation, Zycus Inc., BRIDGEi2i Analytics Solutions Pvt. Ltd., JAGGAER Inc., Genpact Limited, Rosslyn Data Technologies PLC, Simfoni Analytics and others.
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Industry News and Updates:
– March 2020 : SAP SE integrated procurement and enterprise resource planning solutions to deliver next-generation spend management. The next-generation spend management process integration can provide complete visibility and control to help customers achieve business outcomes.
– October 2019 : Supply chain and procurement optimization solution provider LevaData collaborated with IBM to augment its data analytics capabilities. Both the companies are rolling out the DirectSpend IQ solution, which primarily deploys IBM managed services solutions with LevaDatas cognitive sourcing platform. With this, the supply chain and procurement professionals can access to analytics and insights that provide necessary guidance on direct procurement cost savings opportunities.
Key Market Trends:
– The benefits of spend analytics include more in-depth insight through Data Visualization, help in the deployment of cost-saving processes, large files are easy to access, and data is updated and located in real-time. It increases the scalability of the system and reduces the organization’s investment through better utilization and consumption.
– In response to this, recently, in March 2020, the Welsh Government mentioned of developing a Decarbonisation Dashboard based on Atamis spend analytics software solution to enable the analysis of Carbon dioxide equivalent intensity from their expenditure. This information will allow the organization to identify high emitting areas to inform the development of decarbonization action plans.
– Moreover, Coupa, a cloud-based spend management software company, rolled out enhancements to its business spend management (BSM) solution through the addition of voice activation using Amazon Alexa to manage inventory, locate items, and reorder stock. The advancement in IoT technologies and increasing potentials among growing economies are also encouraging organizations to expand their spend analytics tools adoption to developing countries.
Regional Analysis For Procurement Analytics Market:
For comprehensive understanding of market dynamics, the global Procurement Analytics Market is analysed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India and others. Each of these regions is analysed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
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What Are the Market Factors That Are Explained in The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Procurement Analytics Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyse the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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