The Procurement Analytics Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Procurement Analytics Market?
The market size for procurement analytics has expanded considerably in recent years. It is forecasted to extend from a size of $5.36 billion in 2024 up to $6.29 billion in 2025, growing at a compound annual growth rate (CAGR) of 17.4%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Procurement Analytics Industry?
The Procurement Analytics Global Market is anticipated to expand significantly, reaching a market size of $14.59 billion in 2029. The compound annual growth rate (CAGR) is projected to be 23.4%.
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What are the Key Growth Drivers Fueling the Procurement Analytics Market?
The key drivers in the procurement analytics market are:
• Focus on sustainable procurement practices
• The use of dynamic pricing optimization
• Demand for customizable dashboards and reports
• Enhanced contract management analytics capabilities
Global Market Segmentation: Identifying Major Procurement Analytics Industry Segments
The procurement analytics market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment Mode: Cloud, On-Premises
3) By End User: Retail And E-commerce, Manufacturing, Government And Defense, Healthcare And Life Sciences, Telecom And IT, Energy and Utilities, Banking, Financial Services, And Insurance, Other End Users
4) By Application: Supply Chain Analytics, Risk Analytics, Spend Analytics, Demand Forecasting, Contract Management, Vendor Management, Category Management
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What are the Emerging Trends Shaping the Future of the Procurement Analytics Market?
The key trends in the fungal protein market are:
• The market is experiencing a notable shift toward sustainable procurement and dynamic pricing optimization.
• Customizable dashboards and reports, alongside improved contract management analytics, are emerging trends.
• There is an increased integration with other procurement technologies and an upsurge in the use of real-time analytics for dynamic decision-making.
• AI-driven insights for supplier relationship management is significantly shaping the future of the market.
Who Are the Top Competitors & Leading Players in the Procurement Analytics Market?
Major companies in the procurement analytics market are:
• SAP SE
• Oracle Corporation
• Statistical Analysis Systems
• Coupa Software Inc.
• Genpact
• Jaggaer
• GEP Worldwide
• Ivalua Inc.
• Zycus
• ProcurePort
• Basware
• SynerTrade
• Corcentric
• Scout RFP
• BirchStreet
• Periscope Holdings
• Tealbook
• Keelvar
• Proactis
• Sievo
• Xeeva Inc.
• POOL4TOOL AG
• Vroozi
• Rosslyn Data Technologies
• Simfoni
• Applegate
• Scanmarket
• EC Sourcing Group
Regional Dominance: Which Area Leads the Global Procurement Analytics Market?
North America was the largest region in the procurement analytics market in 2024 and is also expected to be the fastest-growing region in the forecast period
