Spend analytics is the technological service offerings provided by various software and analytical organizations to manage and identify their operational costs. This technology helps in providing valuable information on how to improve the operational cycle of an organization, and also providing analysis on making intelligent business decisions.
Global Spend Analytics Market is expected to rise to an estimated value of USD 5.66 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026.
Influencing players of this market are: SAP SE; IBM Corporation; SAS Institut; Oracle; Coupa Softwar; Zycus; Proactis Holdings Plc; Empronc Solutions.; JAGGAER; Rosslyn Data Technologies; Ivalua Inc.; Genpact; Capgemini; Simfoni; WNS (Holdings) Ltd.; GEP; PRM360; Advanced; Efficio Limited and DXC Technology Company among others.
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This Spend Analytics market research report performs high level analysis of major market segments and recognizes opportunities in industry. The report is valuable for both customary and emerging market players in the industry and provides in-depth market insights. When it comes to estimate general market conditions, the growth prospects in the market, possible restrictions, significant industry trends, market size, market share, sales volume and future trends, the finest market research report comes into picture. With this Spend Analytics market research report, the finest market opportunities are brought into focus to forward well-organized information for your business to succeed in the market.
- Increased usage of analytics systems and services to meet the growing demand of intelligent business decisions; this factor is expected to foster growth in the market
- Growth in the requirement for complying with the regulations and internal rules of an organizations while also meeting the requirement of certain contractual stipulations; this factor is expected to positively affect the growth
- Rise in the adoption rate of AI and cloud-based services amidst the penetration of IoT globally
Table of Content:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Global Spend Analytics Market Landscape
Part 04: Global Spend Analytics Market Sizing
Part 05: Global Spend Analytics Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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- Complicated approach while transforming from traditional technology systems; this factor is expected to restrain the growth of the market
- Absence of standards regarding the operations and development of these services; this factor is expected to restrain the growth of the market
- Presence of regulations and compliances regarding the usage of confidential financial data amid incidences of data breaches is expected to restrain the growth of the market
Market Segmentation: Spend Analytics Market
- By Application (Financial Management, Risk Management, Governance & Compliance Management, Supplier Sourcing & Performing Management, Demand & Supply Forecasting, Others),
- By Component (Software, Services), Analytics Type (Diagnostic, Predictive, Prescriptive, Descriptive), Business Function (Finance, IT, Marketing, Procurement),
- By Deployment Model (On-Premises, Cloud, Hybrid), Organization Size (SMBs, Large Enterprises),
- By Industry Vertical (Manufacturing, Retail & E-Commerce, Government & Defense, Healthcare & Life Sciences, Telecommunications & IT, BFSI, Energy & Utilities, Others),
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Key Developments in the Market:
- In June 2019, JAGGAER announced the expansion of their “Analytics Capabilities” to their “JAGGAER ONE” spend management platform. The planned upgrade termed as “19.2” will provide for better efficiency of data management while also improving the executions of analytics in these offerings.
Competitive Analysis: Spend Analytics Market
Global spend analytics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of spend analytics market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Reasons to Purchase this Report
- Current and future of global market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
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