Global Spend Analytics Market Forecast 2024-2030: Wide Applications in Supply Chain and Logistics Sectors
Global Spend Analytics Market
Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The "Global Spend Analytics Market by Component (Services, Software), Analytics Type (Descriptive, Predictive, Prescriptive), Application, Business Function, Deployment Model, Organization Size, Industry Vertical - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Spend Analytics Market has recently been scrutinized in a new research report that furnishes a granular analysis of the market's components, analytics types, applications, and industry verticals through to 2030. Experts estimate a significant uptrend in the market size, from USD 3.82 billion in 2023 to an anticipated USD 7.59 billion by 2030, progressing at a compound annual growth rate (CAGR) of 10.26%.
The study elucidates the importance of the FPNV Positioning Matrix in vendor evaluation, considering pivotal metrics such as Business Strategy and Product Satisfaction. The matrix helps organizations decide which vendor fits their needs, classifying each into categories: Forefront, Pathfinder, Niche, or Vital.
In a detailed Market Share Analysis, the report offers insights into the dynamics and competitive landscape of the Spend Analytics Market, providing an in-depth examination of vendor performance and market trends.
Furthermore, Key Company Profiles within the Spend Analytics Market are meticulously detailed, emphasizing the strategic developments and profiles of market leaders, including advances by renowned enterprises such as Capgemini SE, Corcentric, Inc., and Coupa Software Inc., among others.
The report's extensive Market Segmentation & Coverage section offers a systematic approach to market forecasts and trends analysis. It bifurcates the market into various segments, including:
Components - with a focus on services and software divisions.
Analytics Type - covering Descriptive, Predictive, and Prescriptive analytics.
Applications - such as Financial Management and Risk Management.
Business Functions - encompassing Finance, IT, Marketing, and Procurement.
Organization Size - including insights on Large Enterprises and SMEs.
Industry Verticals - featuring diverse sectors from Healthcare to Telecommunications.
The report also presents a robust regional analysis covering the Americas, Asia-Pacific, and Europe, Middle East & Africa, culminating in a comprehensive global perspective.
Key Market Dynamics
Drivers
Adoption of spend analytics in businesses to improve utilization and consumption
Wide applications in supply chain and logistics sectors
Increasing digitalization across retail industry
Restraints
Growing data breaches cases
Opportunities
Use of AI, ML, and natural language processing to mine massive data
Government environmental, social and governance initiatives in analytics
Challenges
Increasingly stringent regulatory rules
For stakeholders interested in market penetration strategies, market development avenues, competitive assessments, and product innovation, this study delivers pivotal information. With an emphasis on both established players and emerging markets, the analysis includes varied geographical regions showcasing significant growth potential.
Investors and market participants are poised to benefit from the strategic insights into technology trends, regulatory frameworks, market shares, and strategic moves imperative for a successful engagement in the Spend Analytics Market.
Amidst a rapidly evolving spend analysis landscape, this report shares a light on the pathways that businesses can navigate to maintain a competitive stance and optimize their market positions as the industry propels forward.
Key Attributes:
Report Attribute | Details |
No. of Pages | 193 |
Forecast Period | 2024 - 2030 |
Estimated Market Value (USD) in 2024 | $4.2 Billion |
Forecasted Market Value (USD) by 2030 | $7.59 Billion |
Compound Annual Growth Rate | 10.2% |
Regions Covered | Global |
Market Segmentation & Coverage
This research report categorizes the Spend Analytics Market to forecast the revenues and analyze trends in each of the following sub-markets:
Component
Services
Managed services
Professional services
Consulting services
Support and maintenance
Software
Analytics Type
Descriptive
Predictive
Prescriptive
Application
Demand & Supply Forecasting
Financial Management
Governance & Compliance Management
Product & Process Management
Risk Management
Supplier Sourcing & Performance Management
Business Function
Finance
Information Technology (IT)
Marketing
Procurement
Deployment Model
On-Cloud
On-premises
Organization Size
Large enterprises
Small and Medium Enterprises (SMEs)
Industry Vertical
Energy and utilities
Government and defense
Healthcare and life sciences
Manufacturing
Retail and eCommerce
Telecommunications and IT
Companies Profiled
Capgemini
Corcentric
Coupa Software Inc.
DXC Technology Company
Efficio Limited
Empronc Solutions Pvt. Ltd.
Fairmarkit, Inc.
Genpact
GEP
Infosys Limited
IBM
Ivalua Inc.
JAGGAER
Microsoft
Onventis
Oracle Corporation
PRM360
Proactis Holdings
Rosslyn Data Technologies
SAP SE
SAS Institute
Sievo
SIMFONI
Zycus Inc.
For more information about this report visit https://www.researchandmarkets.com/r/tifodm
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