Procurement Analytics Market Research Report by Forecast to 2023
                     Procurement Analytics Market Research 
Report By Forecast to 2023
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)
Procurement Analytics Market 
In its research report, Market Research Future (MRFR), emphasizes that over the review period , the global market 2020 is poised to 
increase significantly, ensuring substantial market valuation of USD 7.90 billion by 2024, and a healthy 21.4%  CAGR over the review 
period. 
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Procurement Analytics Market 
“Taste the market data and market information presented through more than 50 market data tables 
and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content 
TOC & market synopsis on Internet of Procurement Analytics Market Forecast To 2023”
• Rapid technical advancements, digital innovation and comprehensive cloud infrastructure have intensified businesses' need for data-
driven solutions to assist them in effective decision-making. Analytics thus plays a critical role in the enterprises enabling them to 
minimize capital and operating expenditure and significantly increase investment return (ROI). Procurement analytics provide 
comprehensive information on the historical data and allow companies to forecast future trends with the help of 
Procurement Analytics Market. Such quantitative data allow companies with data-driven decision-making to gain a competitive 
market advantage. In addition, the incorporation of analytics in the procurement process helps companies to achieve greater 
visibility and cost management.
 
• It is possible that the convergence of analytics with technological developments such as the Internet of Things ( IoT) and cognitive 
computing would accelerate the use of the procurement process for highly insightful decisions. Therefore, the growing need for 
highly efficient procurement solutions to improve operational performance is expected to drive the procurement analytics market 
during the evaluation period. In addition, demand for cloud-based procurement solutions is growing, and demand for data-driven 
solutions is growing, which is likely to drive the procurement analytics market in the forecast period.
 
• At the other hand, lack of safe solutions, privacy issues and lack of technological expertise are some of the aspects that are hindering 
the growth of the procurement analytics market over the coming years.
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Procurement Analytics Market 
Regional Analysis
The global market geographic overview was conducted in four major regions including Asia Pacific , North America, Europe and the rest 
of the world.
However, North America led the procurement analytics market in 2018, from 2019 to 2024 Asia-Pacific is expected to be the fastest-
growing market. North America held the largest market share in 2018 and predicted over the forecast period to dominate the global 
procurement analytics market. Market growth can be credited to the early adoption by enterprises of analytics solution in the 
procurement process and the involvement of industry giants like SAS Institute, Inc., IBM Corporation and Oracle Corporation. In terms of 
market share, Europe is slated to achieve second place in the procurement analytics market during the assessment period.
During the assessment period Asia-Pacific is expected to be the fastest growing segment in the procurement analytics market. Market 
growth is attributed to heavy vendor investment in developing robust cloud infrastructure in emerging economies like India, China , and 
other South East Asian countries.
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Procurement Analytics Market 
Application & Major Players in this Research:
Procurement Analytics Market Prominent Players:
• SAP SE (Germany), 
• IBM Corporation. (US), 
• Oracle Corporation (US), 
• Zycus Inc. (US), Tamr (US), 
• SAS Institute Inc.,(US), 
• Genpact (UK),
•  BRIDGEi2i Analytics (India),
•  Dataction (India), 
• Tungsten Corporation plc (UK)
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Procurement Analytics Market 
Procurement Analytics Market Segmented on the basis of
Segment:
• Based on the component, the global procurement analytics market has been bifurcated into solutions and services. The 
solutions segment has been sub-divided into sourcing, vendor management, spend analytics, invoicing analytics, category 
management, contract management, and others. Furthermore, the services segment has been further divided into professional 
services and managed services.
• By deployment mode, the global procurement analytics market has been divided into on-premise and cloud.
• By the organization size, the global procurement analytics market classified as small and medium-sized enterprises 
(SMEs) and large enterprises.
• Based on the industry vertical, the global procurement analytics market has been divided into healthcare and life 
sciences, banking, financial services and insurance (BFSI), telecom and IT, energy and utilities, retail and e-commerce, and 
others.
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