Procurement analytics is a type of a system which is used to get conclusion and useful information from the data which will help the company to make develop their business right choices. These methods benefit the business to reduction their save money, operation cost and decrease the risk factors. Procurement analytics is the procedure of using quantitative methods to outcomes from data and derive actionable insights. It contains capture and use of data to support gaining competitive advantages and fact-based decision making. Procurement team collects data, process that data so it can make useful insights and later analyze that data to recover this whole process and decision making is called as procurement analytics. It supports organizations to growth the decrease operating cost, cost savings and can be used for different purposes such as to create strategy in the most strategic category plans, to estimate fair market price in order to maximize the savings, in analyzing the consumption pattern which aims to decrease the overall spend, analysis of preferred supplier compliance and in the selection of channel distribution to address savings leakage.

The Procurement Analytics Market is projected to grow up to US$ 23.50 billion by 2028 growing at a CAGR of 19% during the forecasting period 2023-2028

Report Scope

The global market report scope consists of a comprehensive study covering primary factors impacting the industry trends. The study includes analysis of regional and country-level market dynamics. The scope also consists of competitive overview offering company market shares coupled with company profiles for key revenue contributing companies. The report scope covers a detailed competitive outlook covering market shares and profiles of key participants in the market share.

Major Market Players

The key players of the market are SAP, Oracle, SAS, IBM, Coupa Software, Zycus, BRIDGEi2i Analytics, JAGGAER, Rosslyn Data Technologies, Genpact, Tamr, Simfoni , BirchStreet, Proactis and Sievo

The Procurement Analytics Market report has been categorized as below     

By Deployment Mode

• Cloud
• On-premises

By Organization Size

• Small & Medium Enterprises
• Large Enterprises

By Application Area

• Supply Chain Analytics
• Risk Analytics
• Spend Analytics
• Demand Forecasting
• Contract Management
• Vendor Management

By Vertical

• Banking, Financial Services, and Insurance
• Government and Defense
• Retail and eCommerce
• Healthcare and Lifesciences
• Telecom and IT
• Energy and Utilities
• Manufacturing and
• Others

By Component

• Solutions
• Services

• Professional Services

• Training and Education
• Consulting
• Integration and Deployment
• Support and Maintenance

• Managed Services

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World

The years considered for the study are as follows:

• Base year – 2022
• Estimated year – 2023
• Projected year – 2022
• Forecast period – 2023 to 2028

Key Questions Addressed by the Report

• New products/service competitors are exploring?
• Key players in the 3D printing filament market and how extreme is the competition?
• What are the future market trends that manufacturers are emphasizing on in the future updates?
• For each segment, what are the crucial opportunities in the market?
• What are the key growth strategies embraced by key market players in the market?
• What are the key success strategies adopted by major competitors in the market?

Why Buy this Report:

• Obtain comprehensive insights on the 3D printing filament & market trends
• Note comprehensive analysis of the market status
• Identifies the market opportunities and growth segments
• Assessing business segments & product portfolios, and explain competitive dynamics
• Provide strategy planning and industry dynamics to strengthen decision making