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Procurement Software Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Procurement Software Market: By Deployment (Cloud-based and On-premise); Software (Spend Analysis, E-Sourcing, and E-Procurement); Industry (Retail, Manufacturing, Transportation & Logistics, Healthcare, and Others); and Region)—Industry Dynamics, Market Size and Opportunity Forecast Until 2031

  • Published Date: 24-Mar-2023  |   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 2022US$ 6,658.0 Mn
Expected Revenue in 2031US$ 15,140.1 Mn
Historic Data2018-2021
Base Year2022
Forecast Period2023-2031
UnitValue (USD Mn)
CAGR9.4%
Segments coveredBy Deployment, By Software, By Industry, By Region
Leading players                                                SAP SE, Proactis Holdings PLC, Coupa Software Inc., Microsoft Corporation, Oracle Corporation, Epicor Software Corporation, Ginesys, Zycus, Inc., Ivalua Inc., Infor Inc., Jaggaer, Tangoe, Inc., 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$ 6,658.0 Mn in 2022.

Global Procurement Software Market is estimated to expand at a CAGR of 9.4% over the forecast period 2023-2031.

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. 

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