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Procurement Software Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2026

Global Procurement Software Market- (By Deployment – Cloud-based and On-premises; By Software - Spend Analysis, E-Sourcing, and E-Procurement; By Industry – Retail, Manufacturing, Transportation & Logistics, Healthcare, and Others; and By Region) - Industry Dynamics, Market Size and Opportunity Forecast, 2026

  • Published On: 05-Apr-2022  |  Format: pdfpowerpointexcel  |  Report ID: AA0422193
    Delivery: 2 to 4 Hours
INFOGRAPHIC:
Procurement Software Market

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REPORT SCOPE

Report AttributeDetails
Market Size Value in 2021US$ 6,115.4 Mn
Expected Revenue in 2026US$ 9,654.8 Mn
Historic Data2017-2020
Base Year2021
Forecast Period2022-2026
UnitValue (USD Mn)
CAGR9.4%
Segments coveredBy Deployment, Software, Industry, and Region
Leading playersSAP SE, Proactis Holdings PLC, Coupa Software Inc., Microsoft Corporation, and other prominent players.
Customization ScopeGet your customized report as per your preference. Ask for customization

FREQUENTLY ASKED QUESTIONS

Procurement software function involves issuing and assessing tenders, raising and approving purchase orders, picking and ordering a product or service, receiving and matching the invoice and order, and payment of invoices.

Reduced cost, improved operational productivity, standardized system and transparency across the organization are some of the benefits of procurement software.

The end-industries in the procurement software market are retail, manufacturing, transportation & logistics, healthcare, and BFSI, among others. 

The Global Procurement Software Market was valued at US$ 6,115.4 Mn in 2021.

Global Procurement Software Market is estimated to expand at a CAGR of 9.4% over the forecast period 2022-2026.

The market is majorly driven by factors such as increasing demand to automate the procurement processes and integration between e-procurement applications and ERP Solutions.

Lack of skilled professionals and risks associated with cybersecurity and data protection are hindering the market growth. 

Cloud-based deployment segment holds the highest share in the Global Procurement Software Market.

BFSI is the highest end-user industry in the Global Procurement Software Market.

North America dominates the Global Procurement Software Market.

The key players in the Global Procurement Software Market are SAP SE, Proactis Holdings PLC, Coupa Software Inc., and Oracle Corporation, among others.