Question 1

Which companies define the competitive landscape of procurement analytics industry?

Accepted Answer

SAP SE, Cisco Systems, Inc., Coupa Software, Genpact Itd., IBM Corporation, Microsoft Corporation, Oracle Corporation, SAS Institute, and Zycus Inc.

Question 2

What factors are driving the growth of North America procurement analytics industry?

Accepted Answer

North America led the global procurement analytics market with a major share of over 32% in 2022 and will grow attributed to the emphasis on cost optimization among businesses who continually seek ways to streamline operations and reduce expenditures.

Question 3

How big is the global procurement analytics market?

Accepted Answer

The procurement analytics industry was valued at USD 3.8 billion in 2022 and is estimated to register a CAGR of over 23% between 2023 and 2032, owing to the increasing emphasis on strengthening supplier relationships and enhancing purchasing processes.

Question 4

Why is procurement analytics witnessing demand from supply chain management application?

Accepted Answer

In 2022, supply chain management segment held over 30% market share and is projected to grow through 2032, backed by the demand for end-to-end visibility in supply chain, from raw material sourcing to product delivery.

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