Global Procurement Software Market – Industry Trends and Forecast to 2031

Análise e dimensão do mercado de software de compras

A gestão de contratos é uma aplicação fundamental no mercado de software de compras, com foco na criação, negociação, execução e acompanhamento de contratos com fornecedores. O software de compras simplifica os processos de gestão de contratos, digitalizando a criação de contratos, armazenando contratos num repositório centralizado, automatizando fluxos de trabalho de aprovação e fornecendo alertas para datas importantes, como renovações e vencimentos. Isto permite às organizações gerir eficientemente os acordos com os fornecedores, garantir o cumprimento dos termos contratuais, minimizar os riscos e otimizar o relacionamento com os fornecedores, contribuindo, em última análise, para a poupança de custos e a eficiência operacional.

O tamanho global do mercado de software de compras foi avaliado em 7,86 mil milhões de dólares em 2023 e deverá atingir os 16,68 mil milhões de dólares até 2031, com um CAGR de 9,86% durante o período de previsão de 2024 a 2031. Para além dos insights sobre cenários de mercado, tais como o valor do mercado, a taxa de crescimento, a segmentação, a cobertura geográfica e os grandes players, os relatórios de mercado com curadoria da Data Bridge Market Research incluem também análises especializadas aprofundadas, produção e capacidade da empresa representada geograficamente, layouts de rede de distribuidores e parceiros, análise detalhada e atualizada das tendências de preços e análise do défice da cadeia de abastecimento e da procura.

Âmbito do relatório e segmentação de mercado       

Definição de mercado

Os softwares de compras são ferramentas e plataformas digitais concebidas para agilizar e automatizar o processo de compras dentro das organizações. Estas soluções de software facilitam tarefas como a procura de fornecedores, a gestão de contratos, o processamento de ordens de compra e o rastreio de stocks. Ao otimizar as relações com os fornecedores e aumentar a visibilidade dos dados de compras através da centralização das atividades de aquisição, ajuda as organizações a melhorar a eficiência, reduzir custos, mitigar riscos e tomar decisões mais informadas ao longo do ciclo de vida das compras.

Dinâmica do mercado de software de compras

Motoristas

• Os crescentes avanços tecnológicos aumentam a eficiência das operações

Os avanços tecnológicos permitem soluções inovadoras que aumentam a eficiência, a precisão e a transparência nos processos de aquisição. Avanços como a inteligência artificial (IA), a aprendizagem automática e a automatização robotizada de processos (RPA) capacitam o software de compras para oferecer análises preditivas , fornecimento inteligente e fluxos de trabalho automatizados, otimizando assim a tomada de decisões e a alocação de recursos. Estas capacidades tecnológicas agilizam as operações e contribuem para a redução de custos, mitigação de riscos e melhores relações com fornecedores, tornando-as motores essenciais do crescimento do mercado.

Por exemplo,

Em janeiro de 2024, o software POS fácil de utilizar da Ginesy exemplifica os avanços tecnológicos que impulsionam o mercado de software de compras. Oferece recursos de faturação rápida e sincronização perfeita de dados, aumentando a eficiência e a precisão nas transações de retalho. A sua adoção pelas principais empresas retalhistas da Índia sublinha a sua eficácia, mostra como a inovação tecnológica no software de compras otimiza as operações e promove o crescimento do mercado.

• A crescente adoção de soluções baseadas na cloud fornece recursos de implementação rápida

Cloud-based procurement software offers several advantages, including scalability, flexibility, and accessibility from anywhere with an internet connection. Businesses are drawn to these solutions as they eliminate the need for costly infrastructure investments and provide rapid deployment capabilities. Moreover, cloud-based procurement software enables real-time collaboration among stakeholders and seamless updates, ensuring that organizations always have access to the latest features and enhancements. This trend reflects a broader shift towards cloud computing across industries, as businesses seek to leverage the benefits of cloud technology for enhanced efficiency and competitiveness in procurement operations.

Opportunities

• Growing Emphasis on Sustainable Procurement among the Consumers

Businesses are increasingly prioritizing environmental and social sustainability in their supply chain practices, seeking to minimize their carbon footprint, ensure ethical sourcing, and meet regulatory requirements. Procurement software equipped with sustainability features can enable organizations to assess supplier sustainability credentials, track environmental impact, and implement responsible sourcing practices. This demand for sustainable procurement solutions creates a niche market segment within the broader procurement software landscape, driving innovation and specialization among software providers.

• Adoption of Procurement Software Increases due to Rising Globalization

With businesses increasingly operating on a global scale, there is a greater need for procurement solutions that can effectively manage sourcing, supplier relationships, and supply chain logistics across diverse regions and markets. Procurement software offers functionalities such as multi-currency support, international supplier management, and cross-border compliance, enabling organizations to navigate the complexities of global trade. Moreover, globalization fosters competition, driving companies to seek innovative procurement technologies to gain a competitive edge and capitalize on new market opportunities. Thus, the procurement software market stands to benefit from globalization by providing essential tools and capabilities to support businesses in their international expansion efforts and optimize global procurement operations.

For Instance,

In November 2021, Honeywell introduced a cutting-edge solution for intelligent automated handling, aimed at optimizing space usage in warehouses and manufacturing facilities. Leveraging advanced automation such as AS/RS and robotics, the offering enhances order processing efficiency and accuracy, facilitating faster fulfillment and potential storage footprint reduction. This innovation addresses the pressing demand for space-efficient solutions, empowering businesses to streamline operations, boost productivity, and achieve cost savings.

Restraints/Challenges

• High Implementation Costs for Small and Medium-Sized Enterprises (SMEs)

High implementation costs encompass not only the initial purchase of the software but also expenses associated with customization, integration with existing systems, training, and ongoing maintenance. For many organizations, the upfront investment required to implement procurement software can be daunting, leading to reluctance in adoption. The total cost of ownership over the software's lifecycle may exceed initial projections, further complicating ROI calculations. As a result, some businesses may opt to delay or forgo procurement software adoption altogether, limiting their ability to optimize procurement processes and gain competitive advantages.

• Rising Regulatory Compliance Increases the Implementation Complexity

Government regulations encompass areas such as data privacy, anti-corruption laws, trade compliance, and supplier diversity requirements. Ensuring that procurement software complies with these regulations adds complexity to implementation and ongoing operations, as non-compliance can result in legal penalties, reputational damage, and operational disruptions. Vendors must invest in robust compliance features and stay abreast of regulatory changes to meet the diverse compliance needs of their clients, further adding to the challenges in this market.

This market, report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In January 2024, Relish launched its Procurement Assistant, leveraging AI and natural language processing to simplify enterprise application interactions and optimize procurement workflows across diverse domains
• In January 2024, Ever.Ag's acquisition of PrairiE Systems emphasized its commitment to enhancing the global food supply chain, particularly in animal protein production, through advancements in feed management software. This strategic move showcased the integration of technology into procurement processes within the agricultural sector, showcasing the evolving landscape of procurement software solutions
• In December 2023, Pivot, a French startup, secure substantial Series a funding for its procurement software, indicating investor confidence and rapid growth in the procurement software market. The funding emphasized the market's recognition of innovative tools designed to streamline procurement processes, reflecting the increasing demand for efficient procurement solutions
• In December 2021, SAP SE's launch of the CommBox AI omnichannel solution significantly impacted the procurement software market by introducing a comprehensive tool for brand-customer communication. This innovation streamlined interactions across multiple channels, setting a precedent for enhanced customer engagement within procurement processes
• In March 2020, GEP collaborated with Cheniere Energy Inc., to launch GEP SMART procurement software to optimize procurement processes. This partnership underscored the importance of advanced procurement solutions in facilitating smoother supply chain operations, highlighting the growing significance of such software in modern procurement strategies

Procurement Software Market Scope

The market is segmented on the basis of deployment, software type, organization size, and vertical. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Deployment

• On-Cloud
• On-Premise

Software Type

• Pend Analysis
• E-Sourcing
• E-Procurement
• Contract Management
• Supplier Management
• Others

Organization Size

• Small and Medium Enterprise
• Large Enterprise

Vertical

• Retail
• Automotive
• Travel and Logistics
• Electronics
• IT and Telecommunication
• Mining

Procurement Software Market Regional Analysis/Insights

The market is analysed and market size insights and trends are provided by country, deployment, software type, organization size, and vertical as referenced above.

The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to dominate the procurement software market, driven by the strong presence of industry giants such as IBM Corporation, Oracle Corporation, and Coupa Software Incorporated. The region benefits from well-established infrastructure and a growing trend towards centralized procurement processes, fueled by the need for efficiency and cost savings. With these key market players and favorable market conditions, North America is positioned to maintain its dominance in the procurement software sector, catering to the evolving needs of businesses across various industries.

The Asia-Pacific is expected to have rapid growth in the procurement software market due to developing countries such as China and India, where adoption rates remain relatively low. One significant factor contributing to this lag is the scarcity of skilled procurement professionals in these regions. As businesses in APAC nations increasingly recognize the importance of efficient procurement processes, the demand for procurement software is expected to surge, driving market growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Procurement Software Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the market are:-

• Oracle (U.S.)
• IBM Corporation (U.S.)
• Coupa Software Inc. (U.S.)
• Epicor Software Corporation (U.S.)
• Mercateo (Germany)
• SAP SE (Germany)
• Zycus Inc (U.S.)
• Infor (U.S.)
• Tungsten Automation Corporation (U.K.)
• OpusCapita Solutions Oy (Finland)
• Ivalua Inc. (France)
• Epicor Software Corporation (U.S.)
• Proactis Holdings Limited (U.K.)
• JAGGAER (U.S.)
• Tradeshift Holdings, Inc. (U.S.)
• Basware Oy (Finaland)
• HCL Technologies Limited (India) 

SKU-29587