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Procurement Software Market, By Deployment (On-Premise, On Cloud), By Software (Spend Analysis, E-sourcing, E-procurement), By Vertical (IT & Telecommunication, Travel & Logistics) - Forecast 2023

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procurement software market research report

Procurement Software

Market Research

Report: Forecast 2023

Procurement Software Market Research Report: Forecast 2023

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Procurement Software Market Research Report: Forecast 2023

VIEW REPORTS

SAMPLE REPORTS

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Procurement Software Market Research Report: Forecast 2023

Summary

Procurement software is defined as a software program that enables organization to carry out their

purchase process automatically and manage inventory of goods.

Increasing demand for automatic purchase process is one of the major driving factor that supports

in the growth of procurement management market. The automation in purchase process replaces

the traditional, manual maintenance of records. The function carried out by procurement software

includes ordering and purchasing products or services, selecting, electronic handling of payments,

providing procurement department with detail report of product ordered, details analysis of each

product ordered and approving correct orders, matching and receiving invoice and order. There are

many procurement software in the market, out of which e-procurement software is boosting the

market.

E-procurement software can be operated in both on-premise and cloud based. This software enable

organization in replacing difficulties cause by adopting traditional procurement process. Problems

such as finding right category of products, suitable supplier for enhancing the business, unable to

find the amount spent on purchase, much amount of time is spent on non-value adding activities. In

addition, the study also indicates that e-procurement software minimizes all these difficulties face

by organization, by providing accurate solution.

The market of Global Procurement Software will reach USD 9 Billion by 2023, and is expected to

grow at a CAGR of 10%.

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Procurement Software Market Research Report: Forecast 2023

Major Key Players:

International Business Machines Corporation (U.S.),

Oracle Corporation (U.S.),

Proactis (U.K.),

SAP SE (Germany),

Infor (U.S.),

Coupa Software Inc. (U.S.),

Epicor Software Corporation (U.S.),

Zycus (U.S.),

JDA Software Group,

Inc. (U.S.),

Cvent Inc. (U.S.),

Mercateo (U.K.)

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Procurement Software Market Research Report: Forecast 2023

Segmentation:

Procurement Software Market for segment on the basis of By Deployment, By Type, By Organization

Type and By Vertical.

Procurement Software Market by Deployment:

On-Premise

On-Cloud

Procurement Software Market by Type:

Spend Analysis

E-sourcing

E-procurement

Contract Management

Supplier Management

Others

Procurement Software Market by Organization Type:

Small and Medium Size

Large Business Enterprises

Procurement Software Market by Vertical:

Retail

Automotive

Travel & Logistics

Electronics

IT & Telecommunication

Mining

Others

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Procurement Software Market Research Report: Forecast 2023

Regional Analysis:

The regional analysis of procurement software market is being studied for region such as Asia pacific,

North America, Europe and Rest of the World. North America region accounts for largest share in

procurement software market owing to better network infrastructure, technological advancement

and higher digitization across industries in logistics and support. Europe region is one of the

prominent player in procurement software market due to increase adoption of e-procurement

solution in supply chain management. Whereas, Asia Pacific is expected to grow with a highest CAGR

by 2023.

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