According to Stratistics MRC, the Global Spend Analytics Market is accounted for $2.56 billion in 2021 and is expected to reach $9.00 billion by 2028 growing at a CAGR of 19.7% during the forecast period.
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Spend analytics is the method of gathering, identifying, cleansing, categorizing, and analyzing the organization’s expenditures to reduce procurement costs and further develop efficiency. Spend analysis is implemented by organizations to acquire profitability by recognizing flagging contracts and the wasteful expenditure that can be renegotiated.
Some of the key players profiled in the Spend Analytics Market include Zycus Inc., Sievo Oy, Genpact, Proactis Inc., JAGGAER Incorporation, IBM Corporation, SAP SE, Empronc Solutions Pvt. Ltd, Coupa Software and SAS Institute, Inc.
Types Covered:
• Tail-Spend
• Indirect Spend
• Direct Spend
Components Covered:
• Software
• Services
Analytics Types Covered:
• Prescriptive
• Diagnostic
• Predictive
• Descriptive
Deployment Models Covered:
• Cloud
• On-Premises
Business Functions Covered:
• Procurement
• Marketing
• Information Technology (IT)
• Finance
Applications Covered:
• Supplier Sourcing and Performance Management
• Risk Management
• Governance and Compliance Management
• Financial Management
• Demand and Supply Forecasting
• Other Applications
Organization Sizes Covered:
• Small and Medium Enterprises (SMEs)
• Large Enterprises
End Users Covered:
• Telecommunications and IT
• Supply Chain & Logistic
• Retail and eCommerce
• Manufacturing
• Healthcare and Life Sciences
• Government and Defense
• Energy and Utilities
• Banking, Financial Services, and Insurance (BFSI)
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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