Sourcing, Procurement and Vendor Management (SPVM) Market Size, Trends and Insights By Deployment Type (On-premise, Cloud), By Organization Size (Small and Medium-sized enterprises (SMEs), Large enterprises, Patented), By Industry (Manufacturing, IT and telecom, Retail), By Solution (Software, Services, Consulting), 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 Ariba
- Coupa Software
- Jaggaer
- Ivalua
- GEP Worldwide
- Others
Reports Description
As per the current market research conducted by the CMI Team, the global Sourcing, procurement and vendor management SPVM Market is expected to record a CAGR of 12.4% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 182.2 billion. By 2032, the valuation is anticipated to reach USD 358.2 billion.
Sourcing, procurement and vendor management (SPVM) Specifications
| Specifications | Description |
| Vendor Eligibility | The establishment might necessitate vendors to satisfy specific prerequisites, like industry expertise, certification, or a particular financial standing. |
| Cost structure | The establishment could allocate a fixed budget for procured goods or services, demanding vendors to propose prices within this financial framework. |
| Delivery conditions | Vendors might be obliged to ensure timely delivery, meeting stipulated deadlines or timeframes. |
| Quality benchmarks | Vendors could be expected to provide goods or services that align with designated quality criteria. |
| Service level commitments | Vendors may need to commit to defined service levels, encompassing aspects like prompt customer response or provision of technical aid. |
| Adherence | Vendors may be obligated to conform to legal and regulatory mandates, spanning data privacy, environmental conservation, and more. |
Source: According to CMI Market Research Team Analysis
The Sourcing, Procurement, and Vendor Management (SPVM) market involves the processes of sourcing and procuring goods and services from vendors while efficiently managing vendor relationships. It encompasses vendor selection, negotiation, contract management, and supplier performance monitoring.
The SPVM market is dynamic, technology-driven, and essential for optimizing supply chains. It spans various industries and sizes of organizations, from SMEs to large enterprises, shaping how businesses acquire resources and maintain vendor partnerships.
Current trends include digital transformation through AI and blockchain, emphasizing sustainability in vendor choices, and heightened focus on risk management, all aimed at achieving cost efficiency, transparency, and operational resilience.
Sourcing, procurement and vendor management (SPVM) Market – Significant Growth Factors
The Sourcing, procurement and vendor management (SPVM) Market presents significant growth opportunities due to several factors:
- Digital Transformation: The growing adoption of digital technologies like AI, machine learning, and automation is driving efficiency in sourcing, procurement, and vendor management processes.
- Globalization: Expanding international trade and supply chains create opportunities for businesses to source goods and services from a wider range of vendors, driving market growth.
- Supply Chain Resilience: Recent disruptions have highlighted the importance of robust supply chain management, leading to increased demand for better vendor risk assessment and management.
- Regulatory Compliance: Evolving regulations related to data privacy, sustainability, and ethical sourcing are pushing organizations to ensure vendor compliance, fostering market growth.
- Cost Optimization: Businesses are continuously seeking ways to optimize costs. Effective procurement and vendor management can lead to significant cost savings.
- Sustainability Focus: The emphasis on environmental and social responsibility is prompting organizations to choose vendors that align with their sustainability goals, shaping market dynamics.
- AI and Automation: Implementing AI-powered tools and automation can streamline procurement processes, enhance decision-making, and reduce manual efforts.
- Blockchain Technology: Blockchain offers transparent and secure supply chain tracking, reducing fraud and ensuring authenticity, thus creating opportunities for innovation.
- Data Analytics: Advanced data analytics provide insights into spending patterns, vendor performance, and market trends, aiding strategic decision-making.
- Supplier Collaboration: Collaborative platforms foster better communication between organizations and vendors, leading to improved efficiency and innovation.
- Circular Economy Initiatives: Embracing circular economy practices presents opportunities for vendors to offer sustainable products and services, aligning with market demand.
- Risk Management Solutions: Developing tools to assess and mitigate vendor-related risks can cater to the increasing need for supply chain resilience.
Sourcing, procurement and vendor management (SPVM) Market – Mergers and Acquisitions
The Sourcing, procurement and vendor management (SPVM) Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their Deployment Type offerings and profitability. Some notable examples of mergers and acquisitions in the Sourcing, procurement and vendor management (SPVM) Market include:
- In 2023, Jaggaer acquired Spend360, a provider of cloud-based procurement solutions. The acquisition will help Jaggaer to expand its market share and offerings in the cloud-based procurement space.
- In 2023, GEP acquired Caterpillar Procurement Services, a provider of procurement services to the construction and mining industries. The acquisition will help GEP expand its reach in these industries and offer a more comprehensive suite of procurement solutions to its customers.
- In 2022, IBM acquired Simplify Commerce, a provider of cloud-based procurement solutions. The acquisition will help IBM to expand its reach in the cloud-based procurement market and offer a more comprehensive suite of solutions to its customers.
These mergers and acquisitions have helped companies expand their Deployment Type offerings, improve their market presence, and capitalize on growth opportunities in the Sourcing, procurement and vendor management (SPVM) Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| Sourcing, procurement and vendor management (SPVM) Market | Peer to Peer P2P Lending Market | Multi-Cloud Networking Market |
| CAGR 12.4% (Approx) | CAGR 28.1% (Approx) | CAGR 24.5% (Approx) |
| USD 358.2 Billion by 2032 | USD 621.3 Billion by 2032 | USD 20.55 Billion by 2032 |
Sourcing, procurement and vendor management (SPVM) Market – Significant Threats
The Sourcing, procurement and vendor management (SPVM) Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:
- Supply Chain Disruptions: Events such as natural disasters, geopolitical conflicts, and global pandemics can disrupt supply chains and lead to shortages, impacting procurement and vendor management operations.
- Cybersecurity Risks: Increased digitalization exposes the SPVM process to cybersecurity threats, including data breaches, hacking attempts, and ransomware attacks that could compromise sensitive vendor and procurement information.
- Vendor Financial Instability: Relying on vendors with unstable financial conditions can lead to disruptions, as they might fail to deliver products or services on time or meet quality standards.
- Compliance and Regulatory Changes: Evolving regulations, both in terms of data privacy and procurement practices, can pose challenges to organizations’ compliance efforts and necessitate costly adjustments to processes.
- Ethical Sourcing Concerns: Growing consumer and regulatory emphasis on ethical sourcing, sustainability, and social responsibility can lead to reputational damage if vendors do not meet these standards.
- Technological Disruption: Rapid advancements in technology can render existing procurement and vendor management systems obsolete, necessitating costly upgrades or transitions.
- Geopolitical Uncertainties: Trade tensions, tariffs, and political instability in certain regions can impact international vendor relationships and sourcing strategies.
- Lack of Supplier Diversity: Not having a diverse pool of suppliers can lead to overreliance on a single source and vulnerability to disruptions.
- Vendor Collaboration Challenges: Poor communication and collaboration between organizations and vendors can lead to misaligned goals, delays, and inefficiencies.
- Lack of Innovation: Failing to embrace technological advancements and innovative practices can lead to stagnation and lost opportunities for competitive advantage.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 199.8 Billion |
| Projected Market Size in 2032 | USD 358.2 Billion |
| Market Size in 2022 | USD 182.2 Billion |
| CAGR Growth Rate | 12.4% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Deployment Type, Organization Size, Industry, Solution 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. |
Category-Wise Insights
By Deployment Type:
- On-premise: On-premises pertains to locally hosting software and systems within an organization’s infrastructure, diverging from cloud-based external hosting. It involves maintaining and managing solutions within the organization’s premises, though this approach is seeing changes due to evolving technological trends.
- Cloud: In the realm of Sourcing, Procurement, and Vendor Management (SPVM), the cloud denotes hosting software and services on remote servers accessed via the internet. This model offers flexibility, scalability, and accessibility benefits. The SPVM market is progressively embracing cloud solutions for enhanced collaboration, global reach, and data-driven insights.
By Organization Size:
- Small and Medium-sized enterprises (SMEs): SMEs encompass businesses with restricted staff and revenue, conforming to defined parameters. In the SPVM domain, SMEs are increasingly integrating technology, like cloud systems and automation, into their operations to enhance efficiency, minimize costs, and elevate supplier relationships, enabling effective competition.
- Large enterprises: Large enterprises represent sizable corporations with significant operations, revenue, and workforce. Within the SPVM sector, these enterprises are driving digital transformations, utilizing advanced analytics, AI, and automation to strategize sourcing, optimize procurement, and cultivate essential vendor partnerships for heightened operational efficiency and a competitive edge.
By Industry
- Manufacturing: Within the Sourcing, Procurement, and Vendor Management (SPVM) landscape of manufacturing, it encompasses sourcing raw materials, components, and equipment. Current trends include adopting smart procurement technologies, implementing just-in-time inventory strategies, prioritizing sustainable sourcing, and fostering collaborative relationships with vendors to enhance operational efficiency and product quality.
- IT and telecom: In the Sourcing, Procurement, and Vendor Management (SPVM) sector of IT and telecom, it involves acquiring technology solutions and services. Trends include increased reliance on strategic vendor partnerships, cloud-based procurement systems, cybersecurity-focused vendor assessments, and agile sourcing strategies to meet rapid technological advancements and ensure robust network infrastructure.
- Retail: Within the Sourcing, Procurement, and Vendor Management (SPVM) domain of retail, this entails sourcing products, managing suppliers, and optimizing procurement processes. Trends encompass AI-powered demand forecasting, sustainable sourcing practices, digital vendor collaboration platforms, and agile procurement strategies to adapt to changing consumer demands and enhance supply chain resilience.
By Industry
- Software: In the Sourcing, Procurement, and Vendor Management (SPVM) sector of software, it involves acquiring software solutions for business needs. Current trends encompass the rise of AI-powered procurement analytics, cloud-based vendor management platforms, contract lifecycle management tools, and integration of blockchain for transparent supply chain verification, optimizing software procurement processes.
- Services: In the Sourcing, Procurement, and Vendor Management (SPVM) sphere of services, it entails acquiring outsourced services to meet business requirements. Trends involve data-driven vendor selection, performance measurement through service level agreements, digital platforms for vendor collaboration, and a focus on service quality assurance to streamline service procurement processes.
- Consulting: In the Sourcing, Procurement, and Vendor Management (SPVM) sector of consulting, it involves acquiring expertise and advisory services. Current trends encompass AI-driven procurement insights, strategic supplier relationship management, data-driven procurement decision-making, and an emphasis on sustainability consulting to optimize procurement strategies and enhance vendor partnerships.
Sourcing, procurement and vendor management (SPVM) Market – Regional Analysis
The Sourcing, procurement and vendor management (SPVM) Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: In North America, SPVM trends include increased adoption of AI-driven procurement solutions for data-driven decision-making, focus on sustainable and ethical sourcing practices, and integration of digital platforms for seamless vendor collaboration. Cloud-based procurement systems are gaining traction, enhancing supply chain visibility and efficiency.
- Europe: In Europe, SPVM trends encompass the incorporation of blockchain technology to ensure transparent supply chains, emphasis on compliance with evolving data privacy regulations, and strategic partnerships with vendors to enhance innovation. E-procurement solutions are on the rise, supporting efficient procurement processes and cost optimization.
- Asia-Pacific: Asia-Pacific is witnessing trends such as rapid adoption of digital procurement platforms for enhanced supplier connectivity, investment in supply chain resilience due to recent disruptions, and leveraging AI for demand forecasting. The region focuses on leveraging vendor partnerships for market expansion and efficient procurement strategies.
- LAMEA: In the LAMEA region, trends include a growing emphasis on local supplier diversification to reduce dependencies, adoption of advanced analytics for risk assessment and vendor performance evaluation, and implementation of sustainable practices in sourcing and procurement processes. Cloud-based vendor management systems are becoming integral to procurement strategies.
Competitive Landscape – Sourcing, procurement and vendor management (SPVM) Market
The Sourcing, procurement and vendor management (SPVM) Market is highly competitive, with a large number of manufacturers and IT and telecomers operating globally. Some of the key players in the market include:
- SAP Ariba
- Coupa Software
- Jaggaer
- Ivalua
- GEP Worldwide
- Basware Corporation
- Oracle Procurement Cloud
- Determine
- SYNERTRADE
- BravoSolution
- Others
These companies operate in the market through various strategies such as Deployment Type innovation, mergers and acquisitions, and partnerships.
Emerging players such as Scout RFP and Bonfire are leveraging innovation in the Sourcing, Procurement, and Vendor Management (SPVM) market. They’re introducing user-friendly platforms, AI-driven insights, and streamlined collaboration, attracting attention due to their agility and modern approach.
Established leaders like SAP Ariba, Coupa Software, and Jaggaer dominate the SPVM market. They offer comprehensive suites with advanced features, integration capabilities, and a wide user base. Their dominance is attributed to their reputation, continuous technological advancement, and ability to provide end-to-end solutions, making them go-to choices for large enterprises and industries requiring robust procurement and vendor management.
The Sourcing, procurement and vendor management (SPVM) Market is segmented as follows:
By Deployment Type
- On-premise
- Cloud
By Organization Size
- Small and Medium-sized enterprises (SMEs)
- Large enterprises
- Patented
By Industry
- Manufacturing
- IT and telecom
- Retail
By Solution
- Software
- Services
- Consulting
Regional Coverage:
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 Sourcing, Procurement and Vendor Management SPVM Market, (2024 – 2033) (USD Billion)
- 2.2 Global Sourcing, Procurement and Vendor Management SPVM Market: snapshot
- Chapter 3. Global Sourcing, Procurement and Vendor Management SPVM Market – Industry Analysis
- 3.1 Sourcing, Procurement and Vendor Management SPVM Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Digital Transformation
- 3.2.2 Globalization
- 3.2.3 Supply Chain Resilience
- 3.2.4 Regulatory Compliance
- 3.2.5 Cost Optimization
- 3.2.6 Sustainability Focus
- 3.2.7 AI and Automation
- 3.2.8 Blockchain Technology
- 3.2.9 Data Analytics
- 3.2.10 Supplier Collaboration
- 3.2.11 Circular Economy Initiatives
- 3.2.12 Risk Management Solutions.
- 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 Deployment Type
- 3.7.2 Market Attractiveness Analysis By Organization Size
- 3.7.3 Market Attractiveness Analysis By Industry
- 3.7.4 Market Attractiveness Analysis By Solution
- Chapter 4. Global Sourcing, Procurement and Vendor Management SPVM Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Sourcing, Procurement and Vendor Management SPVM Market: Company Market Share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, 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 Sourcing, Procurement and Vendor Management SPVM Market – Deployment Type Analysis
- 5.1 Global Sourcing, Procurement and Vendor Management SPVM Market Overview: By Deployment Type
- 5.1.1 Global Sourcing, Procurement and Vendor Management SPVM Market Share, By Deployment Type, 2022 and – 2033
- 5.2 On-premise
- 5.2.1 Global Sourcing, Procurement and Vendor Management SPVM Market by On-premise, 2024 – 2033 (USD Billion)
- 5.3 Cloud
- 5.3.1 Global Sourcing, Procurement and Vendor Management SPVM Market by Cloud, 2024 – 2033 (USD Billion)
- 5.1 Global Sourcing, Procurement and Vendor Management SPVM Market Overview: By Deployment Type
- Chapter 6. Global Sourcing, Procurement and Vendor Management SPVM Market – Organization Size Analysis
- 6.1 Global Sourcing, Procurement and Vendor Management SPVM Market Overview: By Organization Size
- 6.1.1 Global Sourcing, Procurement and Vendor Management SPVM Market Share, By Organization Size, 2022 and – 2033
- 6.2 Small and Medium-sized enterprises (SMEs)
- 6.2.1 Global Sourcing, Procurement and Vendor Management SPVM Market by Small and Medium-sized enterprises (SMEs), 2024 – 2033 (USD Billion)
- 6.3 Large enterprises
- 6.3.1 Global Sourcing, Procurement and Vendor Management SPVM Market by Large Enterprises, 2024 – 2033 (USD Billion)
- 6.4 Patented
- 6.4.1 Global Sourcing, Procurement and Vendor Management SPVM Market by Patented, 2024 – 2033 (USD Billion)
- 6.1 Global Sourcing, Procurement and Vendor Management SPVM Market Overview: By Organization Size
- Chapter 7. Global Sourcing, Procurement and Vendor Management SPVM Market – Industry Analysis
- 7.1 Global Sourcing, Procurement and Vendor Management SPVM Market Overview: By Industry
- 7.1.1 Global Sourcing, Procurement and Vendor Management SPVM Market Share, By Industry, 2022 and – 2033
- 7.2 Manufacturing
- 7.2.1 Global Sourcing, Procurement and Vendor Management SPVM Market by Manufacturing, 2024 – 2033 (USD Billion)
- 7.3 IT and telecom
- 7.3.1 Global Sourcing, Procurement and Vendor Management SPVM Market by IT and Telecom, 2024 – 2033 (USD Billion)
- 7.4 Retail
- 7.4.1 Global Sourcing, Procurement and Vendor Management SPVM Market by Retail, 2024 – 2033 (USD Billion)
- 7.1 Global Sourcing, Procurement and Vendor Management SPVM Market Overview: By Industry
- Chapter 8. Global Sourcing, Procurement and Vendor Management SPVM Market – Solution Analysis
- 8.1 Global Sourcing, Procurement and Vendor Management SPVM Market Overview: By Solution
- 8.1.1 Global Sourcing, Procurement and Vendor Management SPVM Market Share, By Solution, 2022 and – 2033
- 8.2 Software
- 8.2.1 Global Sourcing, Procurement and Vendor Management SPVM Market by Software, 2024 – 2033 (USD Billion)
- 8.3 Services
- 8.3.1 Global Sourcing, Procurement and Vendor Management SPVM Market by Services, 2024 – 2033 (USD Billion)
- 8.4 Consulting
- 8.4.1 Global Sourcing, Procurement and Vendor Management SPVM Market by Consulting, 2024 – 2033 (USD Billion)
- 8.1 Global Sourcing, Procurement and Vendor Management SPVM Market Overview: By Solution
- Chapter 9. Sourcing, Procurement and Vendor Management SPVM Market – Regional Analysis
- 9.1 Global Sourcing, Procurement and Vendor Management SPVM Market Regional Overview
- 9.2 Global Sourcing, Procurement and Vendor Management SPVM Market Share, by Region, 2022 & – 2033 (USD Billion)
- 9.3. North America
- 9.3.1 North America Sourcing, Procurement and Vendor Management SPVM Market, 2024 – 2033 (USD Billion)
- 9.3.1.1 North America Sourcing, Procurement and Vendor Management SPVM Market, by Country, 2024 – 2033 (USD Billion)
- 9.3.1 North America Sourcing, Procurement and Vendor Management SPVM Market, 2024 – 2033 (USD Billion)
- 9.4 North America Sourcing, Procurement and Vendor Management SPVM Market, by Deployment Type, 2024 – 2033
- 9.4.1 North America Sourcing, Procurement and Vendor Management SPVM Market, by Deployment Type, 2024 – 2033 (USD Billion)
- 9.5 North America Sourcing, Procurement and Vendor Management SPVM Market, by Organization Size, 2024 – 2033
- 9.5.1 North America Sourcing, Procurement and Vendor Management SPVM Market, by Organization Size, 2024 – 2033 (USD Billion)
- 9.6 North America Sourcing, Procurement and Vendor Management SPVM Market, by Industry, 2024 – 2033
- 9.6.1 North America Sourcing, Procurement and Vendor Management SPVM Market, by Industry, 2024 – 2033 (USD Billion)
- 9.7 North America Sourcing, Procurement and Vendor Management SPVM Market, by Solution, 2024 – 2033
- 9.7.1 North America Sourcing, Procurement and Vendor Management SPVM Market, by Solution, 2024 – 2033 (USD Billion)
- 9.8. Europe
- 9.8.1 Europe Sourcing, Procurement and Vendor Management SPVM Market, 2024 – 2033 (USD Billion)
- 9.8.1.1 Europe Sourcing, Procurement and Vendor Management SPVM Market, by Country, 2024 – 2033 (USD Billion)
- 9.8.1 Europe Sourcing, Procurement and Vendor Management SPVM Market, 2024 – 2033 (USD Billion)
- 9.9 Europe Sourcing, Procurement and Vendor Management SPVM Market, by Deployment Type, 2024 – 2033
- 9.9.1 Europe Sourcing, Procurement and Vendor Management SPVM Market, by Deployment Type, 2024 – 2033 (USD Billion)
- 9.10 Europe Sourcing, Procurement and Vendor Management SPVM Market, by Organization Size, 2024 – 2033
- 9.10.1 Europe Sourcing, Procurement and Vendor Management SPVM Market, by Organization Size, 2024 – 2033 (USD Billion)
- 9.11 Europe Sourcing, Procurement and Vendor Management SPVM Market, by Industry, 2024 – 2033
- 9.11.1 Europe Sourcing, Procurement and Vendor Management SPVM Market, by Industry, 2024 – 2033 (USD Billion)
- 9.12 Europe Sourcing, Procurement and Vendor Management SPVM Market, by Solution, 2024 – 2033
- 9.12.1 Europe Sourcing, Procurement and Vendor Management SPVM Market, by Solution, 2024 – 2033 (USD Billion)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific Sourcing, Procurement and Vendor Management SPVM Market, 2024 – 2033 (USD Billion)
- 9.13.1.1 Asia Pacific Sourcing, Procurement and Vendor Management SPVM Market, by Country, 2024 – 2033 (USD Billion)
- 9.13.1 Asia Pacific Sourcing, Procurement and Vendor Management SPVM Market, 2024 – 2033 (USD Billion)
- 9.14 Asia Pacific Sourcing, Procurement and Vendor Management SPVM Market, by Deployment Type, 2024 – 2033
- 9.14.1 Asia Pacific Sourcing, Procurement and Vendor Management SPVM Market, by Deployment Type, 2024 – 2033 (USD Billion)
- 9.15 Asia Pacific Sourcing, Procurement and Vendor Management SPVM Market, by Organization Size, 2024 – 2033
- 9.15.1 Asia Pacific Sourcing, Procurement and Vendor Management SPVM Market, by Organization Size, 2024 – 2033 (USD Billion)
- 9.16 Asia Pacific Sourcing, Procurement and Vendor Management SPVM Market, by Industry, 2024 – 2033
- 9.16.1 Asia Pacific Sourcing, Procurement and Vendor Management SPVM Market, by Industry, 2024 – 2033 (USD Billion)
- 9.17 Asia Pacific Sourcing, Procurement and Vendor Management SPVM Market, by Solution, 2024 – 2033
- 9.17.1 Asia Pacific Sourcing, Procurement and Vendor Management SPVM Market, by Solution, 2024 – 2033 (USD Billion)
- 9.18. Latin America
- 9.18.1 Latin America Sourcing, Procurement and Vendor Management SPVM Market, 2024 – 2033 (USD Billion)
- 9.18.1.1 Latin America Sourcing, Procurement and Vendor Management SPVM Market, by Country, 2024 – 2033 (USD Billion)
- 9.18.1 Latin America Sourcing, Procurement and Vendor Management SPVM Market, 2024 – 2033 (USD Billion)
- 9.19 Latin America Sourcing, Procurement and Vendor Management SPVM Market, by Deployment Type, 2024 – 2033
- 9.19.1 Latin America Sourcing, Procurement and Vendor Management SPVM Market, by Deployment Type, 2024 – 2033 (USD Billion)
- 9.20 Latin America Sourcing, Procurement and Vendor Management SPVM Market, by Organization Size, 2024 – 2033
- 9.20.1 Latin America Sourcing, Procurement and Vendor Management SPVM Market, by Organization Size, 2024 – 2033 (USD Billion)
- 9.21 Latin America Sourcing, Procurement and Vendor Management SPVM Market, by Industry, 2024 – 2033
- 9.21.1 Latin America Sourcing, Procurement and Vendor Management SPVM Market, by Industry, 2024 – 2033 (USD Billion)
- 9.22 Latin America Sourcing, Procurement and Vendor Management SPVM Market, by Solution, 2024 – 2033
- 9.22.1 Latin America Sourcing, Procurement and Vendor Management SPVM Market, by Solution, 2024 – 2033 (USD Billion)
- 9.23. The Middle East and Africa
- 9.23.1 The Middle-East and Africa Sourcing, Procurement and Vendor Management SPVM Market, 2024 – 2033 (USD Billion)
- 9.23.1.1 The Middle-East and Africa Sourcing, Procurement and Vendor Management SPVM Market, by Country, 2024 – 2033 (USD Billion)
- 9.23.1 The Middle-East and Africa Sourcing, Procurement and Vendor Management SPVM Market, 2024 – 2033 (USD Billion)
- 9.24 The Middle-East and Africa Sourcing, Procurement and Vendor Management SPVM Market, by Deployment Type, 2024 – 2033
- 9.24.1 The Middle-East and Africa Sourcing, Procurement and Vendor Management SPVM Market, by Deployment Type, 2024 – 2033 (USD Billion)
- 9.25 The Middle-East and Africa Sourcing, Procurement and Vendor Management SPVM Market, by Organization Size, 2024 – 2033
- 9.25.1 The Middle-East and Africa Sourcing, Procurement and Vendor Management SPVM Market, by Organization Size, 2024 – 2033 (USD Billion)
- 9.26 The Middle-East and Africa Sourcing, Procurement and Vendor Management SPVM Market, by Industry, 2024 – 2033
- 9.26.1 The Middle-East and Africa Sourcing, Procurement and Vendor Management SPVM Market, by Industry, 2024 – 2033 (USD Billion)
- 9.27 The Middle-East and Africa Sourcing, Procurement and Vendor Management SPVM Market, by Solution, 2024 – 2033
- 9.27.1 The Middle-East and Africa Sourcing, Procurement and Vendor Management SPVM Market, by Solution, 2024 – 2033 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 SAP Ariba
- 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 Coupa Software
- 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 Jaggaer
- 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 Ivalua
- 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 GEP Worldwide
- 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 Basware Corporation
- 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 Oracle Procurement Cloud
- 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 Determine
- 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 SYNERTRADE
- 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 BravoSolution
- 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 Others.
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.1 SAP Ariba
List Of Figures
Figures No 1 to 29
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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Prominent Player
- SAP Ariba
- Coupa Software
- Jaggaer
- Ivalua
- GEP Worldwide
- Basware Corporation
- Oracle Procurement Cloud
- Determine
- SYNERTRADE
- BravoSolution
- Others
FAQs
The key factors driving the Market are Digital Transformation, Globalization, Supply Chain Resilience, Regulatory Compliance, Cost Optimization, Sustainability Focus, AI and Automation, Blockchain Technology, Data Analytics, Supplier Collaboration, Circular Economy Initiatives And Risk Management Solutions.
The “Deployment Type” category dominated the market in 2022.
The key players in the market are SAP Ariba, Coupa Software , Jaggaer, Ivalua, GEP Worldwide , Basware Corporation , Oracle Procurement Cloud , Determine, SYNERTRADE , BravoSolution, Others.
“Europe” had the largest share in the Sourcing, procurement and vendor management (SPVM) Market.
The global market is projected to grow at a CAGR of 12.4% during the forecast period, 2023-2032.
The Sourcing, procurement and vendor management (SPVM) Market size was valued at USD 182.2 Billion in 2022.
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