Procurement analytics refers to the process of using quantitative methods to derive actionable insights and outcomes from data. Promote fact-based decision-making and obtaining competitive advantages, it entails the collection and use of data. The process by which the procurement team gathers data transforms it into insightful knowledge and then analyses it to enhance decision-making is referred to as procurement analytics. It assists businesses in increasing cost savings, reducing operating costs, and serving a variety of functions, including developing strategies for the most strategic category plans, determining fair market value to maximize savings, examining consumption patterns to cut back on overall spending, analyzing preferred supplier compliance, and choosing distribution channels to stop savings leakage.
The procurement industry is gaining new insights owing to the deployment of powerful data analytics, which can then be applied to negotiations, vendor segmentation, performance management, and annual purchasing plan. Data from the procurement department is extremely abundant and includes transaction history, expenditure information, and other information. With the help of intelligent argumentation, the use of analytics in procurement data can lead to improved business decisions.
The procurement analytics market is segmented on the basis of component, deployment mode, enterprise size, application, industry vertical, and region. By component, it is segmented into solution and services. Based on deployment model, the market is categorized into on-premise and cloud. By enterprise size, the market is categorized into large enterprise and SMEs. By application, the market is categorized into strategic sourcing, spend management, process management, category management, contract management, and transaction management. Based on industry vertical, the market is categorized into BFSI, manufacturing, retail, IT and telecom, healthcare, and others. Based on manufacturing, the market is categorized into food and beverages, industrial machinery and heavy equipment, high tech and consumer electronics, automotive, and others. Based on high tech and consumer electronics, the market is categorized into consumer electronics, PCs & laptops, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The key players operating in the market include Amazon Web Services (AWS), BirchStreet Systems, Cisco System, Inc., Coupa Software Inc., Genpact, International Business Machine (IBM), Jaggaer, Microsoft Corporation, Oracle Corporation, Proactis, Rosslyn Data Technologies, SAP SE, SAS Institute, Sievo, Simfoni, Workday, Inc., and Zycus Inc.. These key players have adopted numerous key development strategies such as partnership and new product launches, which help to strengthen their grip in the Decentralized identity market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the procurement analytics market analysis from 2021 to 2031 to identify the prevailing procurement analytics market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the procurement analytics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global procurement analytics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Deployment Mode
By Enterprise Size
By Component
By Application
- Strategic Sourcing
- Spend Management
- Process Management
- Category Management
- Contract Management
- Transaction Management
By Industry Vertical
- BFSI
- Manufacturing
- Type
- Food and Beverages
- Industrial Machinery and Heavy Equipment
- High Tech and Consumer Electronics
- Automotive
- Others
- Retail
- IT and Telecom
- Healthcare
- Others
By Region
- North America
- Europe
- France
- Spain
- Italy
- Rest Of Europe
- UK
- Germany
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest Of Asia-Pacific
- LAMEA
- Brazil
- Mexico
- UAE
- Saudi Arabia
- South Africa
- Rest Of LAMEA
- Key Market Players
- SAP SE
- Oracle Corporation
- SAS Institute
- Genpact
- Microsoft
- Data Technologies
- IBM
- Cisco Systems Inc.
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.4.Top player positioning
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
- 3.6.COVID-19 Impact Analysis on the market
CHAPTER 4: PROCUREMENT ANALYTICS MARKET, BY COMPONENT
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 Solution
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market analysis by country
- 4.3 Services
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market analysis by country
CHAPTER 5: PROCUREMENT ANALYTICS MARKET, BY DEPLOYMENT MODE
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 On Premise
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market analysis by country
- 5.3 Cloud
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market analysis by country
CHAPTER 6: PROCUREMENT ANALYTICS MARKET, BY ENTERPRISE SIZE
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2 Large Enterprises
- 6.2.1 Key market trends, growth factors and opportunities
- 6.2.2 Market size and forecast, by region
- 6.2.3 Market analysis by country
- 6.3 SMEs
- 6.3.1 Key market trends, growth factors and opportunities
- 6.3.2 Market size and forecast, by region
- 6.3.3 Market analysis by country
CHAPTER 7: PROCUREMENT ANALYTICS MARKET, BY APPLICATION
- 7.1 Overview
- 7.1.1 Market size and forecast
- 7.2 Strategic Sourcing
- 7.2.1 Key market trends, growth factors and opportunities
- 7.2.2 Market size and forecast, by region
- 7.2.3 Market analysis by country
- 7.3 Spend Management
- 7.3.1 Key market trends, growth factors and opportunities
- 7.3.2 Market size and forecast, by region
- 7.3.3 Market analysis by country
- 7.4 Process Management
- 7.4.1 Key market trends, growth factors and opportunities
- 7.4.2 Market size and forecast, by region
- 7.4.3 Market analysis by country
- 7.5 Category Management
- 7.5.1 Key market trends, growth factors and opportunities
- 7.5.2 Market size and forecast, by region
- 7.5.3 Market analysis by country
- 7.6 Contract Management
- 7.6.1 Key market trends, growth factors and opportunities
- 7.6.2 Market size and forecast, by region
- 7.6.3 Market analysis by country
- 7.7 Transaction Management
- 7.7.1 Key market trends, growth factors and opportunities
- 7.7.2 Market size and forecast, by region
- 7.7.3 Market analysis by country
CHAPTER 8: PROCUREMENT ANALYTICS MARKET, BY INDUSTRY VERTICAL
- 8.1 Overview
- 8.1.1 Market size and forecast
- 8.2 BFSI
- 8.2.1 Key market trends, growth factors and opportunities
- 8.2.2 Market size and forecast, by region
- 8.2.3 Market analysis by country
- 8.3 Manufacturing
- 8.3.1 Key market trends, growth factors and opportunities
- 8.3.2 Market size and forecast, by region
- 8.3.3 Market analysis by country
- 8.3.4 Manufacturing Procurement Analytics Market by Type
- 8.3.4.1 Food and Beverages Market size and forecast, by region
- 8.3.4.2 Food and Beverages Market size and forecast, by country
- 8.3.4.3 Industrial Machinery and Heavy Equipment Market size and forecast, by region
- 8.3.4.4 Industrial Machinery and Heavy Equipment Market size and forecast, by country
- 8.3.4.5 High Tech and Consumer Electronics Market size and forecast, by region
- 8.3.4.6 High Tech and Consumer Electronics Market size and forecast, by country
- 8.3.4.7 Automotive Market size and forecast, by region
- 8.3.4.8 Automotive Market size and forecast, by country
- 8.3.4.9 Others Market size and forecast, by region
- 8.3.4.10 Others Market size and forecast, by country
- 8.4 Retail
- 8.4.1 Key market trends, growth factors and opportunities
- 8.4.2 Market size and forecast, by region
- 8.4.3 Market analysis by country
- 8.5 IT and Telecom
- 8.5.1 Key market trends, growth factors and opportunities
- 8.5.2 Market size and forecast, by region
- 8.5.3 Market analysis by country
- 8.6 Healthcare
- 8.6.1 Key market trends, growth factors and opportunities
- 8.6.2 Market size and forecast, by region
- 8.6.3 Market analysis by country
- 8.7 Others
- 8.7.1 Key market trends, growth factors and opportunities
- 8.7.2 Market size and forecast, by region
- 8.7.3 Market analysis by country
CHAPTER 9: PROCUREMENT ANALYTICS MARKET, BY REGION
- 9.1 Overview
- 9.1.1 Market size and forecast
- 9.2 North America
- 9.2.1 Key trends and opportunities
- 9.2.2 North America Market size and forecast, by Component
- 9.2.3 North America Market size and forecast, by Deployment Mode
- 9.2.4 North America Market size and forecast, by Enterprise Size
- 9.2.5 North America Market size and forecast, by Application
- 9.2.6 North America Market size and forecast, by Industry Vertical
- 9.2.6.1 North America Manufacturing Procurement Analytics Market by Type
- 9.2.7 North America Market size and forecast, by country
- 9.2.7.1 U.S.
- 9.2.7.1.1 Market size and forecast, by Component
- 9.2.7.1.2 Market size and forecast, by Deployment Mode
- 9.2.7.1.3 Market size and forecast, by Enterprise Size
- 9.2.7.1.4 Market size and forecast, by Application
- 9.2.7.1.5 Market size and forecast, by Industry Vertical
- 9.2.7.1.5.1 U.S. Manufacturing Procurement Analytics Market by Type
- 9.2.7.2 Canada
- 9.2.7.2.1 Market size and forecast, by Component
- 9.2.7.2.2 Market size and forecast, by Deployment Mode
- 9.2.7.2.3 Market size and forecast, by Enterprise Size
- 9.2.7.2.4 Market size and forecast, by Application
- 9.2.7.2.5 Market size and forecast, by Industry Vertical
- 9.2.7.2.5.1 Canada Manufacturing Procurement Analytics Market by Type
- 9.3 Europe
- 9.3.1 Key trends and opportunities
- 9.3.2 Europe Market size and forecast, by Component
- 9.3.3 Europe Market size and forecast, by Deployment Mode
- 9.3.4 Europe Market size and forecast, by Enterprise Size
- 9.3.5 Europe Market size and forecast, by Application
- 9.3.6 Europe Market size and forecast, by Industry Vertical
- 9.3.6.1 Europe Manufacturing Procurement Analytics Market by Type
- 9.3.7 Europe Market size and forecast, by country
- 9.3.7.1 UK
- 9.3.7.1.1 Market size and forecast, by Component
- 9.3.7.1.2 Market size and forecast, by Deployment Mode
- 9.3.7.1.3 Market size and forecast, by Enterprise Size
- 9.3.7.1.4 Market size and forecast, by Application
- 9.3.7.1.5 Market size and forecast, by Industry Vertical
- 9.3.7.1.5.1 UK Manufacturing Procurement Analytics Market by Type
- 9.3.7.2 Germany
- 9.3.7.2.1 Market size and forecast, by Component
- 9.3.7.2.2 Market size and forecast, by Deployment Mode
- 9.3.7.2.3 Market size and forecast, by Enterprise Size
- 9.3.7.2.4 Market size and forecast, by Application
- 9.3.7.2.5 Market size and forecast, by Industry Vertical
- 9.3.7.2.5.1 Germany Manufacturing Procurement Analytics Market by Type
- 9.3.7.3 France
- 9.3.7.3.1 Market size and forecast, by Component
- 9.3.7.3.2 Market size and forecast, by Deployment Mode
- 9.3.7.3.3 Market size and forecast, by Enterprise Size
- 9.3.7.3.4 Market size and forecast, by Application
- 9.3.7.3.5 Market size and forecast, by Industry Vertical
- 9.3.7.3.5.1 France Manufacturing Procurement Analytics Market by Type
- 9.3.7.4 Spain
- 9.3.7.4.1 Market size and forecast, by Component
- 9.3.7.4.2 Market size and forecast, by Deployment Mode
- 9.3.7.4.3 Market size and forecast, by Enterprise Size
- 9.3.7.4.4 Market size and forecast, by Application
- 9.3.7.4.5 Market size and forecast, by Industry Vertical
- 9.3.7.4.5.1 Spain Manufacturing Procurement Analytics Market by Type
- 9.3.7.5 Italy
- 9.3.7.5.1 Market size and forecast, by Component
- 9.3.7.5.2 Market size and forecast, by Deployment Mode
- 9.3.7.5.3 Market size and forecast, by Enterprise Size
- 9.3.7.5.4 Market size and forecast, by Application
- 9.3.7.5.5 Market size and forecast, by Industry Vertical
- 9.3.7.5.5.1 Italy Manufacturing Procurement Analytics Market by Type
- 9.3.7.6 Rest of Europe
- 9.3.7.6.1 Market size and forecast, by Component
- 9.3.7.6.2 Market size and forecast, by Deployment Mode
- 9.3.7.6.3 Market size and forecast, by Enterprise Size
- 9.3.7.6.4 Market size and forecast, by Application
- 9.3.7.6.5 Market size and forecast, by Industry Vertical
- 9.3.7.6.5.1 Rest of Europe Manufacturing Procurement Analytics Market by Type
- 9.4 Asia-Pacific
- 9.4.1 Key trends and opportunities
- 9.4.2 Asia-Pacific Market size and forecast, by Component
- 9.4.3 Asia-Pacific Market size and forecast, by Deployment Mode
- 9.4.4 Asia-Pacific Market size and forecast, by Enterprise Size
- 9.4.5 Asia-Pacific Market size and forecast, by Application
- 9.4.6 Asia-Pacific Market size and forecast, by Industry Vertical
- 9.4.6.1 Asia-Pacific Manufacturing Procurement Analytics Market by Type
- 9.4.7 Asia-Pacific Market size and forecast, by country
- 9.4.7.1 China
- 9.4.7.1.1 Market size and forecast, by Component
- 9.4.7.1.2 Market size and forecast, by Deployment Mode
- 9.4.7.1.3 Market size and forecast, by Enterprise Size
- 9.4.7.1.4 Market size and forecast, by Application
- 9.4.7.1.5 Market size and forecast, by Industry Vertical
- 9.4.7.1.5.1 China Manufacturing Procurement Analytics Market by Type
- 9.4.7.2 India
- 9.4.7.2.1 Market size and forecast, by Component
- 9.4.7.2.2 Market size and forecast, by Deployment Mode
- 9.4.7.2.3 Market size and forecast, by Enterprise Size
- 9.4.7.2.4 Market size and forecast, by Application
- 9.4.7.2.5 Market size and forecast, by Industry Vertical
- 9.4.7.2.5.1 India Manufacturing Procurement Analytics Market by Type
- 9.4.7.3 Japan
- 9.4.7.3.1 Market size and forecast, by Component
- 9.4.7.3.2 Market size and forecast, by Deployment Mode
- 9.4.7.3.3 Market size and forecast, by Enterprise Size
- 9.4.7.3.4 Market size and forecast, by Application
- 9.4.7.3.5 Market size and forecast, by Industry Vertical
- 9.4.7.3.5.1 Japan Manufacturing Procurement Analytics Market by Type
- 9.4.7.4 South Korea
- 9.4.7.4.1 Market size and forecast, by Component
- 9.4.7.4.2 Market size and forecast, by Deployment Mode
- 9.4.7.4.3 Market size and forecast, by Enterprise Size
- 9.4.7.4.4 Market size and forecast, by Application
- 9.4.7.4.5 Market size and forecast, by Industry Vertical
- 9.4.7.4.5.1 South Korea Manufacturing Procurement Analytics Market by Type
- 9.4.7.5 Australia
- 9.4.7.5.1 Market size and forecast, by Component
- 9.4.7.5.2 Market size and forecast, by Deployment Mode
- 9.4.7.5.3 Market size and forecast, by Enterprise Size
- 9.4.7.5.4 Market size and forecast, by Application
- 9.4.7.5.5 Market size and forecast, by Industry Vertical
- 9.4.7.5.5.1 Australia Manufacturing Procurement Analytics Market by Type
- 9.4.7.6 Rest of Asia-Pacific
- 9.4.7.6.1 Market size and forecast, by Component
- 9.4.7.6.2 Market size and forecast, by Deployment Mode
- 9.4.7.6.3 Market size and forecast, by Enterprise Size
- 9.4.7.6.4 Market size and forecast, by Application
- 9.4.7.6.5 Market size and forecast, by Industry Vertical
- 9.4.7.6.5.1 Rest of Asia-Pacific Manufacturing Procurement Analytics Market by Type
- 9.5 LAMEA
- 9.5.1 Key trends and opportunities
- 9.5.2 LAMEA Market size and forecast, by Component
- 9.5.3 LAMEA Market size and forecast, by Deployment Mode
- 9.5.4 LAMEA Market size and forecast, by Enterprise Size
- 9.5.5 LAMEA Market size and forecast, by Application
- 9.5.6 LAMEA Market size and forecast, by Industry Vertical
- 9.5.6.1 LAMEA Manufacturing Procurement Analytics Market by Type
- 9.5.7 LAMEA Market size and forecast, by country
- 9.5.7.1 Brazil
- 9.5.7.1.1 Market size and forecast, by Component
- 9.5.7.1.2 Market size and forecast, by Deployment Mode
- 9.5.7.1.3 Market size and forecast, by Enterprise Size
- 9.5.7.1.4 Market size and forecast, by Application
- 9.5.7.1.5 Market size and forecast, by Industry Vertical
- 9.5.7.1.5.1 Brazil Manufacturing Procurement Analytics Market by Type
- 9.5.7.2 Mexico
- 9.5.7.2.1 Market size and forecast, by Component
- 9.5.7.2.2 Market size and forecast, by Deployment Mode
- 9.5.7.2.3 Market size and forecast, by Enterprise Size
- 9.5.7.2.4 Market size and forecast, by Application
- 9.5.7.2.5 Market size and forecast, by Industry Vertical
- 9.5.7.2.5.1 Mexico Manufacturing Procurement Analytics Market by Type
- 9.5.7.3 UAE
- 9.5.7.3.1 Market size and forecast, by Component
- 9.5.7.3.2 Market size and forecast, by Deployment Mode
- 9.5.7.3.3 Market size and forecast, by Enterprise Size
- 9.5.7.3.4 Market size and forecast, by Application
- 9.5.7.3.5 Market size and forecast, by Industry Vertical
- 9.5.7.3.5.1 UAE Manufacturing Procurement Analytics Market by Type
- 9.5.7.4 Saudi Arabia
- 9.5.7.4.1 Market size and forecast, by Component
- 9.5.7.4.2 Market size and forecast, by Deployment Mode
- 9.5.7.4.3 Market size and forecast, by Enterprise Size
- 9.5.7.4.4 Market size and forecast, by Application
- 9.5.7.4.5 Market size and forecast, by Industry Vertical
- 9.5.7.4.5.1 Saudi Arabia Manufacturing Procurement Analytics Market by Type
- 9.5.7.5 South Africa
- 9.5.7.5.1 Market size and forecast, by Component
- 9.5.7.5.2 Market size and forecast, by Deployment Mode
- 9.5.7.5.3 Market size and forecast, by Enterprise Size
- 9.5.7.5.4 Market size and forecast, by Application
- 9.5.7.5.5 Market size and forecast, by Industry Vertical
- 9.5.7.5.5.1 South Africa Manufacturing Procurement Analytics Market by Type
- 9.5.7.6 Rest of LAMEA
- 9.5.7.6.1 Market size and forecast, by Component
- 9.5.7.6.2 Market size and forecast, by Deployment Mode
- 9.5.7.6.3 Market size and forecast, by Enterprise Size
- 9.5.7.6.4 Market size and forecast, by Application
- 9.5.7.6.5 Market size and forecast, by Industry Vertical
- 9.5.7.6.5.1 Rest of LAMEA Manufacturing Procurement Analytics Market by Type
CHAPTER 10: COMPANY LANDSCAPE
- 10.1. Introduction
- 10.2. Top winning strategies
- 10.3. Product Mapping of Top 10 Player
- 10.4. Competitive Dashboard
- 10.5. Competitive Heatmap
- 10.6. Key developments
CHAPTER 11: COMPANY PROFILES
- 11.1 SAP SE
- 11.1.1 Company overview
- 11.1.2 Company snapshot
- 11.1.3 Operating business segments
- 11.1.4 Product portfolio
- 11.1.5 Business performance
- 11.1.6 Key strategic moves and developments
- 11.2 Oracle Corporation
- 11.2.1 Company overview
- 11.2.2 Company snapshot
- 11.2.3 Operating business segments
- 11.2.4 Product portfolio
- 11.2.5 Business performance
- 11.2.6 Key strategic moves and developments
- 11.3 SAS Institute
- 11.3.1 Company overview
- 11.3.2 Company snapshot
- 11.3.3 Operating business segments
- 11.3.4 Product portfolio
- 11.3.5 Business performance
- 11.3.6 Key strategic moves and developments
- 11.4 Genpact
- 11.4.1 Company overview
- 11.4.2 Company snapshot
- 11.4.3 Operating business segments
- 11.4.4 Product portfolio
- 11.4.5 Business performance
- 11.4.6 Key strategic moves and developments
- 11.5 Microsoft
- 11.5.1 Company overview
- 11.5.2 Company snapshot
- 11.5.3 Operating business segments
- 11.5.4 Product portfolio
- 11.5.5 Business performance
- 11.5.6 Key strategic moves and developments
- 11.6 Data Technologies
- 11.6.1 Company overview
- 11.6.2 Company snapshot
- 11.6.3 Operating business segments
- 11.6.4 Product portfolio
- 11.6.5 Business performance
- 11.6.6 Key strategic moves and developments
- 11.7 IBM
- 11.7.1 Company overview
- 11.7.2 Company snapshot
- 11.7.3 Operating business segments
- 11.7.4 Product portfolio
- 11.7.5 Business performance
- 11.7.6 Key strategic moves and developments
- 11.8 Cisco Systems Inc.
- 11.8.1 Company overview
- 11.8.2 Company snapshot
- 11.8.3 Operating business segments
- 11.8.4 Product portfolio
- 11.8.5 Business performance
- 11.8.6 Key strategic moves and developments