Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The "Global Spend Analytics Market by Component (Services, Software), Analytics Type (Descriptive, Predictive, Prescriptive), Application, Business Function, Deployment Model, Organization Size, Industry Vertical - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Spend Analytics Market has recently been scrutinized in a new research report that furnishes a granular analysis of the market's components, analytics types, applications, and industry verticals through to 2030. Experts estimate a significant uptrend in the market size, from USD 3.82 billion in 2023 to an anticipated USD 7.59 billion by 2030, progressing at a compound annual growth rate (CAGR) of 10.26%.
The study elucidates the importance of the FPNV Positioning Matrix in vendor evaluation, considering pivotal metrics such as Business Strategy and Product Satisfaction. The matrix helps organizations decide which vendor fits their needs, classifying each into categories: Forefront, Pathfinder, Niche, or Vital.
In a detailed Market Share Analysis, the report offers insights into the dynamics and competitive landscape of the Spend Analytics Market, providing an in-depth examination of vendor performance and market trends.
Furthermore, Key Company Profiles within the Spend Analytics Market are meticulously detailed, emphasizing the strategic developments and profiles of market leaders, including advances by renowned enterprises such as Capgemini SE, Corcentric, Inc., and Coupa Software Inc., among others.
The report's extensive Market Segmentation & Coverage section offers a systematic approach to market forecasts and trends analysis. It bifurcates the market into various segments, including:
- Components - with a focus on services and software divisions.
- Analytics Type - covering Descriptive, Predictive, and Prescriptive analytics.
- Applications - such as Financial Management and Risk Management.
- Business Functions - encompassing Finance, IT, Marketing, and Procurement.
- Organization Size - including insights on Large Enterprises and SMEs.
- Industry Verticals - featuring diverse sectors from Healthcare to Telecommunications.
The report also presents a robust regional analysis covering the Americas, Asia-Pacific, and Europe, Middle East & Africa, culminating in a comprehensive global perspective.
Key Market Dynamics
Drivers
- Adoption of spend analytics in businesses to improve utilization and consumption
- Wide applications in supply chain and logistics sectors
- Increasing digitalization across retail industry
Restraints
- Growing data breaches cases
Opportunities
- Use of AI, ML, and natural language processing to mine massive data
- Government environmental, social and governance initiatives in analytics
Challenges
- Increasingly stringent regulatory rules
For stakeholders interested in market penetration strategies, market development avenues, competitive assessments, and product innovation, this study delivers pivotal information. With an emphasis on both established players and emerging markets, the analysis includes varied geographical regions showcasing significant growth potential.
Investors and market participants are poised to benefit from the strategic insights into technology trends, regulatory frameworks, market shares, and strategic moves imperative for a successful engagement in the Spend Analytics Market.
Amidst a rapidly evolving spend analysis landscape, this report shares a light on the pathways that businesses can navigate to maintain a competitive stance and optimize their market positions as the industry propels forward.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 193 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $4.2 Billion |
| Forecasted Market Value (USD) by 2030 | $7.59 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
Market Segmentation & Coverage
This research report categorizes the Spend Analytics Market to forecast the revenues and analyze trends in each of the following sub-markets:
Component
- Services
- Managed services
- Professional services
- Consulting services
- Support and maintenance
- Software
Analytics Type
- Descriptive
- Predictive
- Prescriptive
Application
- Demand & Supply Forecasting
- Financial Management
- Governance & Compliance Management
- Product & Process Management
- Risk Management
- Supplier Sourcing & Performance Management
Business Function
- Finance
- Information Technology (IT)
- Marketing
- Procurement
Deployment Model
- On-Cloud
- On-premises
Organization Size
- Large enterprises
- Small and Medium Enterprises (SMEs)
Industry Vertical
- Energy and utilities
- Government and defense
- Healthcare and life sciences
- Manufacturing
- Retail and eCommerce
- Telecommunications and IT
Companies Profiled
- Capgemini
- Corcentric
- Coupa Software Inc.
- DXC Technology Company
- Efficio Limited
- Empronc Solutions Pvt. Ltd.
- Fairmarkit, Inc.
- Genpact
- GEP
- Infosys Limited
- IBM
- Ivalua Inc.
- JAGGAER
- Microsoft
- Onventis
- Oracle Corporation
- PRM360
- Proactis Holdings
- Rosslyn Data Technologies
- SAP SE
- SAS Institute
- Sievo
- SIMFONI
- Zycus Inc.
For more information about this report visit https://www.researchandmarkets.com/r/tifodm
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