Spend Analytics Market Size, Trends and Insights By Type (Predictive Analytics, Prescriptive Analytics, Descriptive Analytics), By Deployment (On-Premises, Cloud), By Application (Financial Management, Governance And Compliance Management, Risk Management, Supplier Sourcing And Performance Management, Demand And Supply Forecasting, Others), By Industry (Manufacturing, Retail & E-commerce, Healthcare, BFSI, IT & Telecom, Government & Defense, Energy & Utilities, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- SAP SE
- SAS Institute Inc.
- IBM Corporation
- Rosslyn Analytics Ltd.
- Others
Reports Description
As per our research on the Global Spend Analytics Market, the market was estimated at around USD 1.5 billion in 2021 and is projected to witness a CAGR of 17.5% during 2022-2030, to reach around USD 5.7 billion by 2030. The report examines the Spend Analytics market’s drivers and restraints, as well as their impact analysis. Also, the report mentions global opportunities prevailing in the Spend Analytics market.
Spend Analytics Market: Overview
Spend Analytics software enables businesses to consolidate all spending data that is scattered in various formats across different sources and systems. This data comes from a wide range of sources, which include accounts payable, purchase orders, as well as procurement cards, among others. This software assists in cleaning, categorizing, validating, and reporting spend data in order to provide interactive analytics dashboards as well as reporting sheets. All of the advantages provided by the software over paper-based systems are predicted to boost the demand for Spend Analytics software across multiple industries.
Spend Analytics Market: COVID – 19Impact Analysis
With the COVID-19 outbreak, the data science teams started crunching massive data available and building the most promising business spending models on trusted data to quickly design contingency plans for decision-makers. It is where businesses leverage artificial learning, machine learning, as well as natural language processing to drill massive amounts of data and create predictive or prescriptive models.
During the COVID-19 pandemic, many organizations faced a wide range of unforeseen and unexpected supply chain disruptions. Spend Analytics software enables businesses to better identify areas where they may save money. Further, intelligent and organized spend analysis, sourcing, as well as eProcurement strategies based on digital solutions can offer proactive understanding to activate and implement emergency plans in the face of a variety of challenging circumstances.
Spend Analytics Market: Growth Drivers
Growth in the retail & e-commerce sector
Retail & e-commerce heavily rely on supply chain and procurement management systems, as well as data analytics. Companies in this sector strive to achieve the highest possible ROI on their products. Businesses are seeking to adopt solutions that allow data to be analyzed quickly and accurately for procurement and purchasing teams to make the best decisions promptly. The retail & e-commerce sector is a fast-paced environment where decisions must be taken quickly so that the supply chain is efficient and profitable.
The retail industry is one of the most advanced industries in terms of spending analytics implementation. The software assists procurement and purchasing teams in rapidly identifying the potential supply chain difficulties. Retail-based companies’ profit margins are typically thin, so it’s critical that they reduce unnecessary and excessive expenses. The most important aspect of making accurate spending decisions is ensuring that spending data from all data sources are accurately classified and kept up to date. Using this information, envisioned procurement teams can make well-informed, repetitive cost-cutting decisions.
Surging demand for predictive analytics
The spend analysis software market is propelled by the increasing adoption of advanced technology, including big data and cloud computing. Predictive analytics makes use of such technologies. Predictive analytics and data assist them in making decisions, discovering information about companies, solving and deselecting complex business problems, and identifying competitive advantages.
Thus, the rising demand for predictive analytics has been a driving factor in the market for spend analysis software. Additionally, the surging adoption of spend analysis software solutions in numerous industries such as retail, manufacturing, supply chain and logistics, and BFSI are expected to drive the growth of the spend analysis software market.
Spend Analytics Market: Segmentation Analysis
In our research scope, the Spend Analytics market is segmented into type, deployment, application, and industry. The most commonly used spend analysis technique is descriptive analytics, and this segment is expected to lead the market during the projected period. It is a more specialized approach because it recognizes spending by a particular company division in a specific geographic area. Descriptive spend analysis is a user-dependent approach that provides credible information based on data gathered by the user. Surging demand for discrete data and precise figures at all levels of a business is anticipated to push the segment’s growth.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 1.5 Billion |
| Projected Market Size in 2030 | USD 5.7 Billion |
| CAGR Growth Rate | 17.5% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | SAP SE, SAS Institute Inc., IBM Corporation, Rosslyn Analytics Ltd., Oracle Corporation, Coupa Software Inc., Zycus Inc., Empronc Solutions Pvt. Ltd., BravoSolution SPA, JAGGAER, Ivalua Inc., Zageno, Proactis, and Others |
| Key Segment | By Type, Deployment, Application, Industry, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Insights:
- As per the analysis shared by our research analyst, the Spend Analytics market is estimated to grow annually at a CAGR of around 17.5% over the forecast period (2022-2030).
- In terms of revenue, the Spend Analytics market size was valued at around USD 1.5 billion in 2021 and is projected to reach USD 5.7 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on type segmentation, the descriptive analytics segment was estimated to hold the maximum market share in the year 2021.
- Based on deployment segmentation, the cloud segment is anticipated to exhibit tremendous growth during 2022-2030.
- By application, the financial management segment is estimated to lead the market in 2021.
- By industry, the retail & e-commerce segment held the largest share of the market throughout the study period.
- On the basis of geography, the North American region was the leading revenue generator in 2021.
Recent Development
- July 2022: SpendHQ announced its merger with procurement performance management specialist Per Angusta, with Pamlico Capital investing USD 65 million to fund the transaction, according to a press release from the spend analysis vendor.
- March 2022: Xeeva, a global AI-powered Spend Management & Procurement software provider, announced the release of Spend Analytics with Intelligent Opportunities. Using an improved user interface, Xeeva customers will be able to evaluate and act on application-generated savings and sourcing opportunities with this new release.
Regional Landscape
In 2021, the North American region was estimated to lead the Spend Analytics market attributed to the high concentration of large multinationals. The region’s leading market players include SAS Institute, Inc., Zycus Inc., Oracle Corporation, IBM Corporation, Ivalua Inc., Coupa Software Inc., JAGGAER, and BravoSolution SPA. Further, the region is the world’s biggest contributor to the global IT BFSI market, which is an important sector for spending analytics.
Spending analytics software players in the US are predicted to make significant contributions to a number of local retailers who plan to expand their business through online platforms. Some of the benefits that retailers can gain from spending analytics include vendor rating, acquisition cost assessment, discount offer optimization, and predicted spending rates.
Competitive Landscape
The Spend Analytics Software Market is fairly competitive, with a few players dominating the market due to their technical knowledge of data analytics. The market is expected to be significantly consolidated. To increase their market share and profitability, the key players with a high market share are focusing on expanding their client base across numerous countries by leveraging product innovation and strategic collaborative initiatives.
These major vendors have used various organic and inorganic strategies to expand their customer base in the global Spend Analytics market. They invest significantly in product R&D to meet their customers’ needs. Furthermore, many businesses are focusing on introducing new products or expanding their product offerings.
The global Spend Analytics market is segmented as follows:
By Type
- Predictive Analytics
- Prescriptive Analytics
- Descriptive Analytics
By Deployment
- On-Premises
- Cloud
By Application
- Financial management
- Governance and compliance management
- Risk management
- Supplier sourcing and performance management
- Demand and supply forecasting
- Others
By Industry
- Manufacturing
- Retail & E-commerce
- Healthcare
- BFSI
- IT & Telecom
- Government & Defense
- Energy & Utilities
- Others
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Spend Analytics Market, (2022 – 2030) (USD Billion)
- 2.2 Global Spend Analytics Market: snapshot
- Chapter 3. Global Spend Analytics Market – Industry Analysis
- 3.1 Spend Analytics Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Growth in the retail & e-commerce sector
- 3.2.2 Surging demand for predictive analytics
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Type
- 3.7.2 Market attractiveness analysis By Deployment
- 3.7.3 Market attractiveness analysis By Application
- 3.7.4 Market attractiveness analysis By Industry
- Chapter 4. Global Spend Analytics Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Spend Analytics Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Spend Analytics Market – Type Analysis
- 5.1 Global Spend Analytics Market overview: By Type
- 5.1.1 Global Spend Analytics Market share, By Type, 2021 and 2030
- 5.2 Predictive Analytics
- 5.2.1 Global Spend Analytics Market by Predictive Analytics, 2022 – 2030 (USD Billion)
- 5.3 Prescriptive Analytics
- 5.3.1 Global Spend Analytics Market by Prescriptive Analytics, 2022 – 2030 (USD Billion)
- 5.4 Descriptive Analytics
- 5.4.1 Global Spend Analytics Market by Descriptive Analytics, 2022 – 2030 (USD Billion)
- 5.1 Global Spend Analytics Market overview: By Type
- Chapter 6. Global Spend Analytics Market – Deployment Analysis
- 6.1 Global Spend Analytics Market overview: By Deployment
- 6.1.1 Global Spend Analytics Market share, By Deployment, 2021 and 2030
- 6.2 On-Premises
- 6.2.1 Global Spend Analytics Market by On-Premises, 2022 – 2030 (USD Billion)
- 6.3 Cloud
- 6.3.1 Global Spend Analytics Market by Cloud, 2022 – 2030 (USD Billion)
- 6.1 Global Spend Analytics Market overview: By Deployment
- Chapter 7. Global Spend Analytics Market – Application Analysis
- 7.1 Global Spend Analytics Market overview: By Application
- 7.1.1 Global Spend Analytics Market share, By Application, 2021 and 2030
- 7.2 Financial Management
- 7.2.1 Global Spend Analytics Market by Financial Management, 2022 – 2030 (USD Billion)
- 7.3 Governance and Compliance Management
- 7.3.1 Global Spend Analytics Market by Governance and Compliance Management, 2022 – 2030 (USD Billion)
- 7.4 Risk Management
- 7.4.1 Global Spend Analytics Market by Risk Management, 2022 – 2030 (USD Billion)
- 7.5 Supplier Sourcing And Performance Management
- 7.5.1 Global Spend Analytics Market by Supplier Sourcing And Performance Management, 2022 – 2030 (USD Billion)
- 7.6 Demand And Supply Forecasting
- 7.6.1 Global Spend Analytics Market by Demand And Supply Forecasting, 2022 – 2030 (USD Billion)
- 7.7 Others
- 7.7.1 Global Spend Analytics Market by Others, 2022 – 2030 (USD Billion)
- 7.1 Global Spend Analytics Market overview: By Application
- Chapter 8. Global Spend Analytics Market – Industry Analysis
- 8.1 Global Spend Analytics Market overview: By Industry
- 8.1.1 Global Spend Analytics Market share, By Industry, 2021 and 2030
- 8.2 Manufacturing
- 8.2.1 Global Spend Analytics Market by Manufacturing, 2022 – 2030 (USD Billion)
- 8.3 Retail & E-commerce
- 8.3.1 Global Spend Analytics Market by Retail & E-commerce, 2022 – 2030 (USD Billion)
- 8.4 Healthcare
- 8.4.1 Global Spend Analytics Market by Healthcare, 2022 – 2030 (USD Billion)
- 8.5 BFSI
- 8.5.1 Global Spend Analytics Market by BFSI, 2022 – 2030 (USD Billion)
- 8.6 IT & Telecom
- 8.6.1 Global Spend Analytics Market by IT & Telecom, 2022 – 2030 (USD Billion)
- 8.7 Government & Defense
- 8.7.1 Global Spend Analytics Market by Government & Defense, 2022 – 2030 (USD Billion)
- 8.8 Energy & Utilities
- 8.8.1 Global Spend Analytics Market by Energy & Utilities, 2022 – 2030 (USD Billion)
- 8.9 Others
- 8.9.1 Global Spend Analytics Market by Others, 2022 – 2030 (USD Billion)
- 8.1 Global Spend Analytics Market overview: By Industry
- Chapter 9. Spend Analytics Industry – Regional Analysis
- 9.1 Global Spend Analytics Industry Regional Overview
- 9.2 Global Spend Analytics Industry Share, by Region, 2021 & 2030 (USD Billion)
- 9.3. North America
- 9.3.1 North America Spend Analytics Industry, 2022 – 2030 (USD Billion)
- 9.3.1.1 North America Spend Analytics Industry, by Country, 2022 – 2030 (USD Billion)
- 9.3.1 North America Spend Analytics Industry, 2022 – 2030 (USD Billion)
- 9.4 North America Spend Analytics Industry, by Type, 2022 – 2030
- 9.4.1 North America Spend Analytics Industry, by Type, 2022 – 2030 (USD Billion)
- 9.5 North America Spend Analytics Industry, by Deployment, 2022 – 2030
- 9.5.1 North America Spend Analytics Industry, by Deployment, 2022 – 2030 (USD Billion)
- 9.6 North America Spend Analytics Industry, by Application, 2022 – 2030
- 9.6.1 North America Spend Analytics Industry, by Application, 2022 – 2030 (USD Billion)
- 9.7 North America Spend Analytics Industry, by Industry, 2022 – 2030
- 9.7.1 North America Spend Analytics Industry, by Industry, 2022 – 2030 (USD Billion)
- 9.4. Europe
- 9.4.2 Europe Spend Analytics Industry, 2022 – 2030 (USD Billion)
- 9.4.2.1 Europe Spend Analytics Industry, by Country, 2022 – 2030 (USD Billion)
- 9.4.2 Europe Spend Analytics Industry, 2022 – 2030 (USD Billion)
- 9.4 Europe Spend Analytics Industry, by Type, 2022 – 2030
- 9.4.1 Europe Spend Analytics Industry, by Type, 2022 – 2030 (USD Billion)
- 9.5 Europe Spend Analytics Industry, by Deployment, 2022 – 2030
- 9.5.1 Europe Spend Analytics Industry, by Deployment, 2022 – 2030 (USD Billion)
- 9.6 Europe Spend Analytics Industry, by Application, 2022 – 2030
- 9.6.1 Europe Spend Analytics Industry, by Application, 2022 – 2030 (USD Billion)
- 9.7 Europe Spend Analytics Industry, by Industry, 2022 – 2030
- 9.7.1 Europe Spend Analytics Industry, by Industry, 2022 – 2030 (USD Billion)
- 9.5. Asia Pacific
- 9.5.3 Asia Pacific Spend Analytics Industry, 2022 – 2030 (USD Billion)
- 9.5.3.1 Asia Pacific Spend Analytics Industry, by Country, 2022 – 2030 (USD Billion)
- 9.5.3 Asia Pacific Spend Analytics Industry, 2022 – 2030 (USD Billion)
- 9.4 Asia Pacific Spend Analytics Industry, by Type, 2022 – 2030
- 9.4.1 Asia Pacific Spend Analytics Industry, by Type, 2022 – 2030 (USD Billion)
- 9.5 Asia Pacific Spend Analytics Industry, by Deployment, 2022 – 2030
- 9.5.1 Asia Pacific Spend Analytics Industry, by Deployment, 2022 – 2030 (USD Billion)
- 9.6 Asia Pacific Spend Analytics Industry, by Application, 2022 – 2030
- 9.6.1 Asia Pacific Spend Analytics Industry, by Application, 2022 – 2030 (USD Billion)
- 9.7 Asia Pacific Spend Analytics Industry, by Industry, 2022 – 2030
- 9.7.1 Asia Pacific Spend Analytics Industry, by Industry, 2022 – 2030 (USD Billion)
- 9.6. Latin America
- 9.6.4 Latin America Spend Analytics Industry, 2022 – 2030 (USD Billion)
- 9.6.4.1 Latin America Spend Analytics Industry, by Country, 2022 – 2030 (USD Billion)
- 9.6.4 Latin America Spend Analytics Industry, 2022 – 2030 (USD Billion)
- 9.4 Latin America Spend Analytics Industry, by Type, 2022 – 2030
- 9.4.1 Latin America Spend Analytics Industry, by Type, 2022 – 2030 (USD Billion)
- 9.5 Latin America Spend Analytics Industry, by Deployment, 2022 – 2030
- 9.5.1 Latin America Spend Analytics Industry, by Deployment, 2022 – 2030 (USD Billion)
- 9.6 Latin America Spend Analytics Industry, by Application, 2022 – 2030
- 9.6.1 Latin America Spend Analytics Industry, by Application, 2022 – 2030 (USD Billion)
- 9.7 Latin America Spend Analytics Industry, by Industry, 2022 – 2030
- 9.7.1 Latin America Spend Analytics Industry, by Industry, 2022 – 2030 (USD Billion)
- 9.7. The Middle-East and Africa
- 9.7.5 The Middle-East and Africa Spend Analytics Industry, 2022 – 2030 (USD Billion)
- 9.7.5.1 The Middle-East and Africa Spend Analytics Industry, by Country, 2022 – 2030 (USD Billion)
- 9.7.5 The Middle-East and Africa Spend Analytics Industry, 2022 – 2030 (USD Billion)
- 9.4 The Middle-East and Africa Spend Analytics Industry, by Type, 2022 – 2030
- 9.4.1 The Middle-East and Africa Spend Analytics Industry, by Type, 2022 – 2030 (USD Billion)
- 9.5 The Middle-East and Africa Spend Analytics Industry, by Deployment, 2022 – 2030
- 9.5.1 The Middle-East and Africa Spend Analytics Industry, by Deployment, 2022 – 2030 (USD Billion)
- 9.6 The Middle-East and Africa Spend Analytics Industry, by Application, 2022 – 2030
- 9.6.1 The Middle-East and Africa Spend Analytics Industry, by Application, 2022 – 2030 (USD Billion)
- 9.7 The Middle-East and Africa Spend Analytics Industry, by Industry, 2022 – 2030
- 9.7.1 The Middle-East and Africa Spend Analytics Industry, by Industry, 2022 – 2030 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 SAP SE
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 SAS Institute Inc.
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 IBM Corporation
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 Rosslyn Analytics Ltd.
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 Oracle Corporation
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 Coupa Software Inc.
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 Zycus Inc.
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 Empronc Solutions Pvt. Ltd.
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 BravoSolution SPA
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 JAGGAER
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.11 Ivalua Inc.
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.12 Zageno
- 10.12.1 Overview
- 10.12.2 Financials
- 10.12.3 Product Portfolio
- 10.12.4 Business Strategy
- 10.12.5 Recent Developments
- 10.13 Proactis
- 10.13.1 Overview
- 10.13.2 Financials
- 10.13.3 Product Portfolio
- 10.13.4 Business Strategy
- 10.13.5 Recent Developments
- 10.1 SAP SE
List Of Figures
Figures No 1 to 37
List Of Tables
Tables No 1 to 102
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
|
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| Demand-side |
|
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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FAQs
The north American region will lead the global Spend Analytics market during the forecast period 2022 to 2030.
Companies in this sector strive to achieve the highest possible ROI on their products. Businesses are seeking to adopt solutions that allow data to be analyzed quickly and accurately for procurement and purchasing teams to make the best decisions promptly. The retail & e-commerce sector is a fast-paced environment where decisions must be taken quickly so that the supply chain is efficient and profitable.
The key players operating in the Spend Analytics market are SAP SE, SAS Institute Inc., IBM Corporation, Rosslyn Analytics Ltd., Oracle Corporation, Coupa Software Inc., Zycus Inc., Empronc Solutions Pvt. Ltd., BravoSolution SPA, JAGGAER, Ivalua Inc., Zageno, Proactis, and Others.
The global Spend Analytics market is expanding growth with a CAGR of approximately 17.5% during the forecast period (2022 to 2030).
The global Spend Analytics market size was valued at USD 1.5 billion in 2021 and it is projected to reach around USD 5.7 billion by 2030.
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