Global spend analytics market is expected to rise to an estimated value of USD 5.66 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the requirement of limiting costs of operations along with the increased usage of these services from the various industrial verticals for procurement operations.
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Spend analytics is the technological service offerings provided by various software and analytical organizations to manage and identify their operational costs. This technology helps in providing valuable information on how to improve the operational cycle of an organization, and also providing analysis on making intelligent business decisions.
Key Developments in the Market:
- In June 2019, JAGGAER announced the expansion of their “Analytics Capabilities” to their “JAGGAER ONE” spend management platform. The planned upgrade termed as “19.2” will provide for better efficiency of data management while also improving the executions of analytics in these offerings.
- In January 2018, JAGGAER announced that they had completed the acquisition of BravoSolution. This acquisition will establish JAGGAER as the leader of independent spend management service provider globally, as they will expand their customer base, along with the servicing capabilities across a variety of regions.
Global Spend Analytics Major Market Competitors/Players:
Few of the major competitors currently working in the global spend analytics market are:-
- SAP SE;
- IBM Corporation;
- SAS Institute Inc.;
- Coupa Software Inc.;
- Zycus Inc.;
- Proactis Holdings Plc;
- Empronc Solutions Pvt. Ltd.;
- Rosslyn Data Technologies;
- Ivalua Inc.;
- WNS (Holdings) Ltd.;
- Efficio Limited and
- DXC Technology Company among others.
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Global Spend Analytics Market By Application (Financial Management, Risk Management, Governance & Compliance Management, Supplier Sourcing & Performing Management, Demand & Supply Forecasting, Others), Component (Software, Services), Analytics Type (Diagnostic, Predictive, Prescriptive, Descriptive), Business Function (Finance, IT, Marketing, Procurement), Deployment Model (On-Premises, Cloud, Hybrid), Organization Size (SMBs, Large Enterprises), Industry Vertical (Manufacturing, Retail & E-Commerce, Government & Defense, Healthcare & Life Sciences, Telecommunications & IT, BFSI, Energy & Utilities, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Global Spend Analytics Market Competitive Analysis:
Global spend analytics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of spend analytics market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Table of Contents
- Market Segmentation
- Market Overview
- Executive Summary
- Premium Insights
- Global, By Component
- Product Type
- Industry Type
10.2. North America
10.5. South America
10.6. Middle East & Africa
- Company Landscape
- Company Profiles
- Related Reports
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