Global Procurement Software as a Segment of Global SCM Market
The procurement software is the leading segment of the SCM market, and it accounted for nearly 32% of its market share in 2014. The market for the procurement software is growing which will improve the market share in the upcoming three to four years. The others segments accounting for 68% that include warehouse management services (WMS), transportation management systems (TMS), and supply chain planning (SCP).
Key benefits offered by procurement software:
Source: Technavio Research
According to the latest Technavio report, the global procurement software market is witnessing a significant growth phase, and it is likely to post a CAGR of over 10% by 2019. The need for controlling and managing all the resources in the supply chain drives the market. Also, the demand for improved visibility in the selection of the resources and suppliers fosters its adoption in organizations.
As a result of the increasing costs in various operations of the supply chain, organizations are increasingly adopting automated procurement systems instead of recruiting procurement professionals.
Key trends inducing growth into the global procurement market
It has been observed that medium-sized enterprises, with annual revenues in the range US$100-750 million, are most active in the implementation of procurement software and are inclined toward using the cloud-based procurement software.
Large enterprises continue to invest in procurement applications while the trend suggests that medium-sized enterprises are implementing procurement software for the first time. The increase in the demand for cloud-based procurement software is a positive trend making an impact on the market. One of the growth drivers in the market is the need to consolidate and enhance the purchasing process. Procurement software allows the purchasing department in an organization to better leverage its purchasing power.
Geographical segmentation of the procurement market
The global procurement software market is expanding, and companies are ready to invest in software applications. In terms of revenue contribution, the Americas continues to hold the largest share of the market.
Leading market vendors for procurement software
BirchStreet Systems, Capgemini, Coupa, Elcom, Epicor, jCatalog, JDA, GEP, GT Nexus, HighJump Software, IBM, Infor , Ivalua, Manhattan Associates, Proactis, Puridiom, Verian, and Wax Digital.
With the evolution of new technologies such as mobile, vendors are learning to exploit reverse actions to work with other vendors in the market. The increasing demand for mobile applications has created new opportunities to capture the sourcing opportunities.
Key questions answered in the report
What are the key factors driving the global procurement market?
What are the key market trends impacting the growth of the global procurement market?
What are the various opportunities and threats faced by the vendors in the global procurement market?
Trending factors influencing the market shares for EMEA, APAC, and Americas?
Key outcome of the five forces analysis on the global procurement market?
Growth forecast of the global procurement market until 2019?
Technavio also offers customization on reports based on specific client requirement.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
Key market highlights
PART 05: Market description
Procurement value chain
Functions of procurement software
End-to-end procurement cycle
Pricing of procurement software
Types of procurement software
PART 06: Market landscape
Supply chain network
Global SCM market
Market size and forecast
Global procurement software as a segment of global SCM market
Five forces analysis
PART 07: Geographical segmentation
Global procurement software market segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
List of abbreviations
PART 17: Explore Technavio
List of Exhibits
Exhibit 01: Product offerings
Exhibit 02: Procurement value chain
Exhibit 03: Functions of procurement software
Exhibit 04: Characteristics of procurement software categories
Exhibit 05: End-to-end procurement cycle
Exhibit 06: Pricing of the procurement software (per user) 2014-2019
Exhibit 07: SCM overview
Exhibit 08: Supply chain network
Exhibit 09: Global SCM market 2014-2019 ($ billions)
Exhibit 10: Global procurement software market 2014-2019 ($ billions)
Exhibit 11: Global procurement software as a segment of global SCM market 2014
Exhibit 12: Five forces analysis
Exhibit 13: Global procurement software market segmentation by geography 2014
Exhibit 14: Impact of drivers
Exhibit 15: Impact of drivers and challenges
Exhibit 16: Other prominent vendors
Exhibit 17: Division of segments
Exhibit 18: Business segmentation by revenue 2013 and 2014 ($ millions)
Exhibit 19: Geographical segmentation by revenue 2014
Exhibit 20: Oracle: Business segmentation by revenue 2014
Exhibit 21: Oracle: Business segmentation by revenue 2013 and 2014 ($ millions)
Exhibit 22: Oracle: Geographical segmentation by revenue 2014
Exhibit 23: Revenue comparison of 2013 and 2014 ($ millions)
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