The USAID business forecast contains in-advance information about opportunities to partner with USAID. USAID regularly collaborates with host countries, beneficiaries, U.S. government agencies, international donors, and implementing partners to ensure that we effectively address development needs in the countries where we work. This dataset is continually updated from the source data found at https://www.usaid.gov/business-forecast

Procurement Analytics Market size was valued at USD 4.85 Billion in 2024 and is projected to reach USD 25.18 Billion by 2031, growing at a CAGR of 25.21% during the forecast period 2024-2031.

Global Procurement Analytics Market Drivers

Data-Driven Decision Making: Businesses are realizing the value of data-driven decision-making procedures in a variety of departments, including purchasing. With the help of insights from data analysis, procurement analytics helps businesses reduce risks, find cost-saving possibilities, streamline their purchasing procedures, and enhance overall procurement performance.

Growing Complexity and Globalization of Supply Chains: As supply chains becoming more intricate and international, businesses must deal with issues including risk reduction, supplier management, and regulatory compliance. Advanced capabilities to track supply chain interruptions, analyze supplier performance, and optimize sourcing strategies across several geographies and suppliers are provided by procurement analytics solutions.

Demand for Cost Reduction and Efficiency Improvement: Companies are under pressure to lower costs and boost operational efficiency in the cutthroat business world of today. Through spend analysis, supplier consolidation, contract optimization, and demand forecasting, procurement analytics helps businesses find cost-saving options that eventually result in bottom-line benefits.

Data has been updated to include agency budget code, name, and acronym attributes. Budget codes were used to assign the agency name and acronym to each record. Agencies that share the same budget code, such as those under the Executive Office of the Mayor, were left blank in PASS records. For questions regarding details within the data, contact the Office of Contracting and Procurement at https://contracts.ocp.dc.gov/contact.

The Data Center Rack Market size was valued at USD 5.31 USD billion in 2023 and is projected to reach USD 10.28 USD billion by 2032, exhibiting a CAGR of 9.9 % during the forecast period. Procurement analytics is the streamlined process of analysing the data connected to procurement activities in the institution to gain insights and enhance the quality of the purchasing decision. This procedure consists of the acquisition of raw data, the purification, classification, and description of procurement data from sources like contracts, invoices, and supplier characteristics. Among the key remaining components are assessing spend, monitoring suppliers’ performance, managing contracts, and dealing with business risks. Through the application of the advanced analytics approach, including predictive modelling and machine learning, the organizations would have the pleasure of detecting cost-saving options, supplier bargaining, and the provision of possible supply chain risks. Recent developments include: May 2023 – Legrand revealed the next gen intelligent rack PDUs, which are integrated with cutting-edge hardware to provide high security. Further, this rack is enabled with the Server Technology PRO4X and Raritan PX4 to provide optimized workloads, digital access control, and environmental monitoring., October 2022 – Eaton launched a new Open Compute Project innovation to meet the unique demands of data centers. This technology is configured and designed to provide the required amount of power for data center customers looking to deploy ORV3 racks., October 2022 – Cisco Systems, Inc. rolled out a data center in India for WebEx infrastructure. The company aims to offer better user experience services to customers with the help of data centers and expand its presence in India., July 2022 – Eaton introduced its xModular system. This system is used to design, deployment, and operation of data center-type facilities. xModular is capable of providing ample space for the IT computing equipment (white space) too., July 2021 – nVent acquired CIS Global, a provider of provider of intelligent rack power distribution and server slides products. Through acquisition nVent aims to protect and manage heat in large data centers and edge computing applications.. Key drivers for this market are: Increasing Number of Data Center Facilities across the Globe to Boost the Market Growth. Potential restraints include: High Maintenance Costs and Space Limitations to Hamper the Market Growth. Notable trends are: Growing Implementation of Touch-based and Voice-based Infotainment Systems to Increase Adoption of Intelligent Cars.

The Report Covers Global Data Acquisition (DAQ) System Market Analysis and is segmented by Channel (Less Than 32, 32-128, Greater Than 128), Type (Hardware, Software), End-User Vertical (Water and Waste Treatment, Power & Energy, Automotive, Education and Research, Aerospace & Defense, Paper and Pulp, Chemicals and Other End-Users), and Geography

The size and share of the market is categorized based on Application (Computer Technology, Telecom Industry, Auto-Control, Agricultural Production, Other) and Product (32 Channel System, 64 Channel System, 128 Channel System, Other) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The size and share of the market is categorized based on Application (Universal, Temperature, Voltage, Torque, Speed) and Product (Multi-channel, 16-channel, 32-channel, 56-channel, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Market Overview:

United States procurement software market size is projected to exhibit a growth rate (CAGR) of 10.10% during 2024-2032. The increasing adoption of technology, the impact of the COVID-19 pandemic, a focus on cost optimization, escalating sustainability concerns, rapidly expanding e-commerce sector, integration of artificial intelligence (AI) and machine learning (ML), and supply chain disruptions are some of the primary factors influencing the market growth.

Procurement software, a vital tool in modern business operations, serves as a digital solution designed to streamline and optimize the procurement process. It is developed using advanced programming languages and technologies, typically built on a robust database system. The software's primary purpose is to automate and centralize various aspects of procurement, from supplier management and sourcing to purchase orders and invoice processing. By integrating these functions into a unified platform, organizations can achieve greater efficiency, accuracy, and transparency in their procurement operations. It finds extensive applications across various sectors, as it enables organizations to efficiently manage their supplier relationships by providing a comprehensive view of vendor performance, pricing, and availability. Furthermore, procurement software facilitates strategic sourcing by analyzing supplier data, market trends, and historical purchase information, allowing businesses to make informed decisions and negotiate better deals. Additionally, it streamlines the creation and approval of purchase orders, reducing the likelihood of errors and delays. Furthermore, the software automates invoice processing, ensuring accurate and timely payment to suppliers, thereby improving cash flow management. The advantages of using procurement software are manifold, such as it enhances productivity by automating repetitive tasks, enabling procurement professionals to focus on more strategic activities. Additionally, it promotes cost savings by identifying opportunities for bulk purchases, negotiating better terms, and reducing maverick spending.

United States Procurement Software Market Trends:

The United States procurement software market is influenced by several key drivers, such as the increasing adoption of technology across various industries. Organizations are realizing the significance of efficient procurement processes, leading to a rising demand for software solutions that streamline purchasing, vendor management, and spend analytics. In line with this, the COVID-19 pandemic accelerated the need for digital transformation, with many companies seeking procurement software to enhance remote work capabilities and ensure business continuity, which is boosting the market growth. Additionally, the focus on cost optimization and savings in procurement operations is another key driver, with businesses recognizing the potential for software tools to reduce costs, improve supplier relationships, and enhance compliance. Moreover, the regulatory landscape plays a significant role, as procurement software is often utilized to ensure adherence to compliance standards and mitigate risks associated with supplier management, which is propelling the market growth. Apart from this, the growing trend towards sustainability and responsible sourcing has prompted organizations to seek software solutions that enable them to monitor and improve their supply chain sustainability practices, which is stimulating the market growth in the country.

United States Procurement Software Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on software type, deployment, organization size, and vertical.

Software Type Insights:

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

The report has provided a detailed breakup and analysis of the market based on the software type. This includes spend analysis, e-sourcing, e-procurement, contract management, supplier management, and others.

Deployment Insights:

• Cloud-based
• On-premises
  

A detailed breakup and analysis of the market based on deployment have also been provided in the report. This includes cloud-based and on-premises.

Organization Size Insights:

• Small and Medium-sized Enterprises
• Large Enterprises
  

The report has provided a detailed breakup and analysis of the market based on the organization size. This includes small and medium-sized enterprises and large enterprises.

Vertical Insights:

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

A detailed breakup and analysis of the market based on vertical have also been provided in the report. This includes retail, automotive, travel and logistics, electronics, IT and telecommunication, and others.

Regional Insights:

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• Northeast
• Midwest
• South
• West
  

The report has also provided a comprehensive analysis of all the major regional markets, which include the Northeast, Midwest, South, and West.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

United States Procurement Software Market Report Coverage:

The Managed IT Procurement Service market has emerged as a vital component in the contemporary business ecosystem, streamlining the process of acquiring and managing technology solutions for organizations of all sizes. By enabling companies to outsource their IT procurement functions, these services allow businesses

[218+ Pages Report] The global procurement as a service market size is expected to grow from USD 6.84 billion in 2023 to USD 17.63 billion by 2032, at a CAGR of 11.10% from 2024-2032

The Cloud Procurement Software market has emerged as a transformative force in modern business operations, changing how organizations manage their procurement processes. Defined as software solutions that facilitate the purchasing function through cloud-based technologies, this software enables companies to streamli

Indirect Procurement BPO Market size was valued at USD 7.7 Billion in 2023 and is projected to reach USD 14.6 Billion by 2031, growing at a CAGR of 9.6% during the forecasted period 2024 to 2031.

Global Indirect Procurement BPO Market Drivers

The market drivers for the Indirect Procurement BPO Market can be influenced by various factors. These may include:

Cost Efficiency and Reduction: Companies seek to reduce operational costs and achieve economies of scale by outsourcing indirect procurement functions. BPO providers can leverage their expertise and technology to deliver cost savings.

Focus on Core Competencies: By outsourcing indirect procurement, organizations can focus on their core business activities and strategic initiatives, rather than getting bogged down with routine procurement tasks.

Technological Advancements: The adoption of advanced technologies, such as artificial intelligence, machine learning, and data analytics, by BPO providers enhances the efficiency and effectiveness of procurement processes. This drives companies to outsource to leverage these technologies without significant upfront investment.

Globalization and Expansion: As companies expand globally, managing procurement across diverse regions can be complex. BPO providers with a global presence can offer localized expertise and streamline procurement processes across multiple geographies.

Need for Compliance and Risk Management: Navigating regulatory requirements and mitigating procurement risks can be challenging. BPO providers often have the experience and systems in place to ensure compliance and manage risks effectively.

Scalability and Flexibility: Outsourcing offers scalability and flexibility, allowing companies to adjust their procurement operations based on fluctuating demand and changing business needs without the need for significant internal restructuring.

Innovation and Process Improvement: BPO providers often bring innovative practices and process improvements that can enhance procurement efficiency and effectiveness, driving companies to outsource to stay competitive.

Supplier Relationship Management: Effective supplier management is crucial for optimizing procurement. BPO providers typically have established relationships with a wide network of suppliers and can negotiate better terms and conditions.

Data-Driven Insights: Access to detailed procurement data and analytics provided by BPO services can lead to better decision-making and strategic planning, appealing to organizations seeking data-driven insights.

Regulatory Changes and Compliance: As regulations and compliance requirements evolve, companies may outsource to BPO providers who are better equipped to stay updated with the latest standards and ensure adherence.

The global SCADA market is projected to grow from USD 11.08 billion in 2024 to USD 37.8 billion by 2037, witnessing a CAGR of over 9.9% throughout the forecast timeline, between 2025 and 2037. Key industry players include Schneider Electric, General Electric Company, Capula Ltd., Emerson Electric Co., among others.

The size and share of the market is categorized based on Type (120 Ports, 80 Ports) and Application (Telecom Operator, Data Operator, Private Network, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The global data acquisition system market is poised to increase from USD 2.01 billion in 2024 to USD 4.08 billion by 2037, witnessing a CAGR of more than 5.6% throughout the forecast timeline, between 2025 and 2037. Key industry players include Rockwell Automation Corporation, Honeywell International Inc., Spectris PLC, Dewesoft d.o.o, among others.

Total Spend Management Software Market Size And Forecast

Total Spend Management Software Market size was valued at USD 21.10 Billion in 2023 and is projected to reach USD 57 Billion By 2030, growing at a CAGR of 11.9% during the forecast period 2024 to 2030.

Global Total Spend Management Software Market Drivers

The market drivers for the Total Spend Management Software Market can be influenced by various factors. These may include:

Cost Optimization Imperative: As businesses look to save expenses across a range of expenditure categories, spend management software is becoming more and more popular. These solutions help with overall cost reduction initiatives by providing insights into spending patterns, pointing out areas for cost savings, and streamlining the procurement process.
Digitization of Procurement Operations: Spend management software adoption is being propelled by the digital transformation of procurement operations. Companies are moving away from manual, paper-based processes and toward automated ones in an effort to improve the accuracy, efficiency, and transparency of their expense management.
Focus on Strategic Sourcing: In order to improve supplier connections, bargain for better terms, and reduce risks, organizations are putting more of a focus on strategic sourcing techniques. Spend management software’s adoption is fueled by its ability to support strategic sourcing tasks including contract administration, supplier collaboration, and supplier performance review.
Regulatory Compliance Obligations: One of the most important parts of procurement operations is adhering to regulatory standards and reporting obligations. By assuring compliance with laws like Sarbanes-Oxley (SOX), GDPR, and industry-specific standards, spend management software lowers the risk of noncompliance and associated fines.
Demand for Real-time Analytics: The use of expenditure management software is being driven by the demand for actionable insights obtained from real-time data. With the help of these solutions, which include sophisticated analytics features like spend visibility, forecasting, and trend analysis, businesses can take well-informed decisions and forward important initiatives.
Supplier Relationship Management (SRM): Maintaining a robust supply chain and company continuity depend on efficient management of supplier relationships. Through the facilitation of cooperation, performance monitoring, and risk assessment, spend management software enhances supply chain efficiency and supplier involvement.
Growth of Cloud-based Solutions: Compared to on-premises options, cloud-based spend management software solutions are more affordable up front and have greater scalability and accessibility. Cloud-based platforms are becoming more and more popular among organizations as a way to improve collaboration, expedite procurement processes, and save IT infrastructure costs.
Integration with ERP Systems: Enterprise resource planning (ERP) system integration skills are quickly becoming a critical need for expenditure management software. Data synchronization between finance, procurement, and other business activities is made possible by seamless integration, which also improves process efficiency and offers a single picture of corporate spending.
Sustainable Procurement: The procurement procedures are being influenced by the growing awareness of corporate social responsibility (CSR) and sustainability. In order to meet their sustainability objectives, spend management software can assist businesses in tracking and analyzing sustainability metrics including carbon footprint, supplier diversification, and ethical sourcing procedures.
Emergence of Automation and AI: Spend management procedures are changing as a result of the combination of automation and artificial intelligence (AI) technology. Predictive analytics, cognitive sourcing, and robotic process automation (RPA) are examples of AI-powered technologies that improve expenditure management workflows, automate repetitive tasks, and improve decision-making.

Snapshot img

Procurement Software Market Size 2025-2029

The procurement software market size is forecast to increase by USD 6.66 billion at a CAGR of 11.3% between 2024 and 2029.

The market is experiencing significant growth due to the expanding e-commerce and organized retail industries. This trend is driving the need for more efficient and automated procurement processes. Another key factor fueling market growth is the integration of artificial intelligence in procurement systems. 
However, challenges remain, including the complexity of integrating new software with existing systems and the process of onboarding new suppliers. These factors create both opportunities and obstacles for market participants. The market analysis report comprehensively evaluates these trends and challenges, offering valuable insights for stakeholders looking to optimize their procurement operations.

What will be the Size of the Market During the Forecast Period?

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The market is experiencing significant growth due to the increasing adoption of automation and cloud sourcing in business operations. Companies are shifting towards cloud-based procurement contracts and procure-to-pay suites to streamline their procurement processes and enhance transparency in information flow. The digitization of procurement processes is a major factor driving the market's growth, enabling companies to make informed decisions based on real-time data. Funding and the availability of on-cloud solutions have made it easier for companies of all sizes to implement procurement software solutions. The integration of emerging technologies such as artificial intelligence (AI) in procurement software is further revolutionizing the market.
AI-powered solutions enable companies to analyze large volumes of data, identify trends, and make predictions, thereby improving efficiency and reducing errors. The procurement process becomes more complex as companies expand their supply chain networks. Procurement software solutions offer a comprehensive suite of tools to manage supplier relationships, track inventory levels, and monitor capacity utilization. The opportunity for growth in this market is vast, with businesses recognizing the need for efficient and transparent procurement processes to remain competitive. The adoption of cloud-based procurement software is expected to continue, as it offers flexibility, scalability, and cost savings.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Deployment

  Cloud-based
  On-premises


End-user

  Retail and e-commerce
  Healthcare and pharmaceuticals
  Manufacturing and Automotive
  IT and telecom
  Others


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan
    South Korea


  South America



  Middle East and Africa

By Deployment Insights

The cloud-based segment is estimated to witness significant growth during the forecast period. The market growth is driven by the increasing adoption of cloud-based solutions due to their cost-effectiveness and ease of use. companies like BirchStreet Systems and Coupa Software provide SaaS-based procurement software, eliminating the need for on-premises installations. Enterprises pay a recurring fee for access to the software, which includes maintenance and upgrades. This model is particularly beneficial for small and mid-sized enterprises, enabling them to automate their procurement processes, minimize errors, and lower costs. Emerging technologies, such as Artificial Intelligence (AI), are also enhancing procurement software capabilities, offering advanced features like predictive analytics and automated invoice processing. These solutions streamline the procurement process, increasing efficiency and productivity.

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The cloud-based segment was valued at USD 4.41 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market dominates the global procurement software industry, driven by the region's significant advancements in digitalization and technological innovations. Key factors fueling market growth include the increasing demand for procurement automation, the widespread adoption of cloud-based procur

The Procurement as a Service (PaaS) market has emerged as a transformative solution for organizations seeking to streamline their procurement processes and enhance operational efficiency. By outsourcing procurement functions to specialized service providers, businesses can leverage expertise and advanced technologie

Hungary Agricultural Procurement: Vol: Cherry data was reported at 1.000 Ton in Sep 2018. This records a decrease from the previous number of 141.259 Ton for Jul 2018. Hungary Agricultural Procurement: Vol: Cherry data is updated monthly, averaging 51.000 Ton from May 2002 (Median) to Sep 2018, with 95 observations. The data reached an all-time high of 2,098.000 Ton in Jun 2009 and a record low of 0.000 Ton in Sep 2016. Hungary Agricultural Procurement: Vol: Cherry data remains active status in CEIC and is reported by Hungarian Central Statistical Office. The data is categorized under Global Database’s Hungary – Table HU.B016: Agricultural Procurement.

Snapshot img

Supply Chain Analytics Market Size 2024-2028

The supply chain analytics market size is forecast to increase by USD 10.38 billion at a CAGR of 19.28% between 2023 and 2028.

The market is experiencing significant growth due to the increasing need to optimize business processes and enhance operational efficiency. A key driver is the increased adoption of predictive analytics in the supply chain, enabling organizations to anticipate demand and proactively manage inventory. However, challenges persist in implementing supply chain analytics, including data integration and security concerns. In the context of e-commerce and fleet management, real-time data analysis is crucial for effective order fulfillment and fleet optimization. Market trends include the integration of machine learning algorithms and the use of cloud-based solutions for data processing and storage. Overall, the market presents opportunities for businesses to gain a competitive edge through data-driven insights and improved decision-making.

What will be the Size of the Supply Chain Analytics Market During the Forecast Period?

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The global supply chain management software market is experiencing significant growth due to the increasing digitization of business operations and the demand for customized solutions. Logistics optimization, cost optimization, and network design are key focus areas, with businesses seeking cost-efficient solutions to enhance their supply chain performance. Automation plays a crucial role in improving efficiency and enabling data-driven decision-making, while customer loyalty and strategy are also driving market growth.
Traceability, finance, and performance metrics are essential elements of supply chain analytics, providing valuable insights into inventory transactions, transportation management, and warehouse management. Cost reduction is a primary objective, with companies addressing security breaches and disruptions through consulting services and innovation. Sustainability, demand planning, and resilience are emerging trends, with a focus on cost savings, management software, and optimization. Procurement optimization, training, logistics management, and CRM systems are also integral to the market's development.

How is this Supply Chain Analytics Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Deployment

  Cloud-based
  On-premises


End-user

  Retail
  Manufacturing
  Transportation
  Healthcare
  Others


Geography

  North America

    US


  Europe

    Germany
    UK
    France


  APAC

    China


  Middle East and Africa



  South America

By Deployment Insights

The cloud-based segment is estimated to witness significant growth during the forecast period.

Cloud-based supply chain analytics enables organizations to adapt to their expanding analytics requirements and data volumes through on-demand resources. Eliminating the need for significant upfront investments in hardware and infrastructure, cloud solutions offer a pay-as-you-go model, ensuring cost savings and predictable budgeting. Remote access to analytics tools and data fosters collaboration among stakeholders, enhancing communication and informed decision-making. Real-time data analysis facilitates timely responses to supply chain challenges, such as elevated warehousing costs, data loss, demand-supply gaps, and customer requirements. Cloud-based analytics optimizes resource utilization, business growth, and performance, addressing inventory risks, procurement transactions, and retail trends.

Additionally, it integrates with ERP systems, warehouse management systems, SCM strategies, procurement analytics, artificial intelligence, and big data technologies to improve business productivity, efficiency, and manufacturing processes. Cloud solutions address waste minimization, economic viability, and unethical activities, ensuring accountability for large enterprises.

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The Cloud-based segment was valued at USD 2.47 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 38% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market is projected to expand due to the region's technological advancements and complex business environments. Advanced analytics technologies, such as arti