Spend Analytics is the act of processing, identifying and analysing expenditure with the purpose of reducing procurement costs. Global spend analytics market size was valued at $1.43 billion in 2017 and is estimated to reach $5.35 billion by 2025 with the CAGR of 17.95% during 2019-2025. The key factors driving the market are predictive analytics for businesses, rising need for supplier & market intelligence and need to manage better internal compliance policies & external contracts. Other than that, factors restraining the growth of the market are facing difficulty in shifting from legacy systems, a huge number of data sources and lack of standardised processes. Rising adoption of mobile applications and increasing demand for cloud computing technology are the opportunities expected to enhance the growth of the market in future.

Research Study Objectives:

• Define, estimate, and forecast the spend analytics market statistics component, business function, analytics type, deployment mode, organisation size, application, end users and regions concerning the individual growth drivers, market trends and their contribution toward the spend analytics market growth
• Provides comprehensive information regarding the key factors influencing the market growth (Drivers, Restraints & Challenges, and Opportunities)
• Estimate & forecast the market size of all the segments concerning geographies including North America, Europe, Asia Pacific (APAC), South America and the Middle East and Africa (MEA).
• Recent competitive developments including M&A (mergers and acquisitions), partnerships, and product innovations are provided in the spend analytics market analysis report.
• Analysis and conclusions on the future spend analytics market outlook.

Top-down and bottom-up approaches are used to validate the spend analytics market size and are used to estimate the size of other dependent submarkets. Key players in the market are identified through various secondary sources; databases including Bloomberg Businessweek, Hoovers, Factiva, journals and associations and the market revenues are estimated and are thoroughly validated through primary and secondary research. Secondary research involves the study of annual and financial reports of top players in the market, whereas primary research includes extensive interviews with the KoL’s such as CEOs, directors, board members, VP’s, sales managers, engineers, marketing executives, technicians, account managers, investors, strategic decision makers and others. The spend analytics market shares and breakdowns are determined using secondary sources and are verified by the primary sources. All possible parameters/factors that are affecting the spend analytics market demand are covered in the research study are verified through primary research, analysed and interpreted to get the final qualitative and quantitative data. This data is collected and added with detailed analysis from Envision Inteligence and presented in this report.

The scope of the Report

The spend analytics market segmentation is as follows:

By Component

• Software
• Services
  • Managed Services
  • Professional Services
  • Support and Maintenance
  • Consulting

By Business Function

• Finance
• Information Technology (IT)
• Marketing
• Procurement
• Others

By Analytics Type

• Predictive Analytics
• Prescriptive Analytics
• Descriptive Analytics

By Deployment Mode

• On-Premises
• Cloud

By Organisation Size

• Small and Medium Enterprises
• Large Enterprises

By Application

• Financial Management
• Risk Management
• Governance and Compliance Management
• Supplier Sourcing and Performance Management
• Demand and Supply Forecasting
• Others

By End Users

• Manufacturing
• Retail and E-commerce
• Government and Defense
• Healthcare and Life Sciences
• Telecommunications and IT
• Banking, Financial Services, and Insurance (BFSI)
• Energy and Utilities
• Others

Geographical Analysis:

Spend analytics market is segmented by geography into North America, South America, Europe, APAC and Middle East & Africa. U.S., Canada, Mexico and Costa Rica are analysed under North American region which is usually turning as the hotspot in the market. The South American region is further segregated into Brazil, Argentina, Chile, Columbia and some other emerging economies. In Europe, the market is extensively examined by covering U.K., Germany, France, Italy, Spain, Netherlands, Poland, Switzerland and some other promising economies. APAC is further categorised by countries into China, India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore and many other emerging nations. In the Middle East & African region, Saudi Arabia, UAE, Iran, Iraq, Qatar, South Africa, Algeria, Morocco, Nigeria and so on countries are evaluated to understand the market growth lucidly.

Customization Options:

With the given research report, Envision Inteligence offers customisations as per the client’s specific requirements. The following customisation options offered for spend analytics market include:

• Scope Revision
• Geographic Analysis
• Company Profiles
• Historical Data & Forecasting
• Key Contact Persons in companies

Global Spend Analytics Market Research Report Includes:

• An executive summary condensing thewhole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
• To have a complete market analysis through industry value chain analysis, Porter’s Five Force Model, PESTLE, SWOTanalysis, and Y-o-Y analysis.
• Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
• Identifying DROC in the current market and their impact on altering market dynamics.
• Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
• Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
• Identify the latest developments, market shares and strategies that are employed by the significant Spend Analytics, such as
  • IBM Corporation
  • Oracle Corporation
  • SAP SE
  • SAS Institute
  • General Electric Company

Along with these companies, many other companies are considered in the report while analysing the global spend analytics market competitive strategies and environment. These companies held substantial share-owning to the nature of the industry whereas, the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players also have considerable presence owing to its robust brand image, geographical reach and stable customer base.