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Spend Analytics Market by Component (Software and Services), by Deployment (On-Premises, Cloud, and Hybrid) by Analytics (Descriptive, Diagnostic, Predictive, and Prescriptive), and by End-Use Industry (Retail, BFSI, IT & Telecom, Healthcare, Manufacturing, Energy & Utilities, Government Sector, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Published Date: 22-May-2019 Category: Technology & Media Report Format : PDF Pages: 208 Report Code: ZMR-4144 Status : Published

Global spend analytics market was USD 1.5 billion in 2018 and is expected to reach USD 4.6 billion by 2025, at a CAGR of 17.3% between 2019 and 2025. Spend analytics analyze purchase orders, contracts, discounts, rebates, price variances for similar items from the same or different vendors over a specific timeframe.

Description

The report analyzes and forecasts the spend analytics market on a global and regional level. The study offers past data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The assessment of spend analytics market dynamics gives a brief insight into the drivers and restraints for the spend analytics market along with their market impact over the years to come. Additionally, the report also includes the study of opportunities available in the spend analytics market on a global level.

The report gives a transparent view of the spend analytics market. We have included a detailed competitive scenario and portfolio of the leading vendors operating in the spend analytics market. To understand the competitive landscape of the spend analytics market, an analysis of Porter’s Five Forces model for the spend analytics market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Global Spend Analytics Market

The study provides a crucial view of the spend analytics by segmenting it based on deployment, component, analytics, end-use industry, and region. All the market segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. The regional segmentation comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe with further classification into the U.S., Canada, Mexico, UK, France, Germany, China, Japan, India, South Korea, Brazil, and Argentina.

Some major players operating in the global spend analytics market include SAS Institute, IBM Corporation, Zycus, Coupa Software, Proactis Holdings, JAGGAER, Empronc Solutions, Rosslyn Data Technologies, Oracle Corporation, and SAP SE.

This report segments the global spend analytics market into:

Global Spend Analytics Market: Deployment Analysis

  • On-Premises
  • Cloud
  • Hybrid

Global Spend Analytics Market: Component Analysis

  • Software
  • Services

Global Spend Analytics Market: Analytics Analysis

  • Descriptive
  • Diagnostic
  • Predictive
  • Prescriptive

Global Spend Analytics Market: End-Use Industry Analysis

  • Retail
  • BFSI
  • IT and Telecom
  • Healthcare
  • Manufacturing
  • Energy and Utilities
  • Government Sector
  • Others

Global Spend Analytics Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description
      • 1.1.1. Objective
      • 1.1.2. Target Audience
      • 1.1.3. Unique Selling Proposition (USP) & Offerings
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodology
      • 1.3.3. Level 1: Primary Research
      • 1.3.4. Level 2: Secondary Research
      • 1.3.5. Level 3: Data Validation and Expert Panel Assessment Report Description and Scope
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global Spend Analytics Market, 2016-2025 (USD Billion)
    • 2.2. Spend Analytics Market: Market Snapshot
  •  
  • Chapter 3. Global Spend Analytics Market - Industry Analysis
    • 3.1. Introduction
    • 3.2. Industry ecosystem analysis
    • 3.3. Technology landscape
    • 3.4. Market Drivers
      • 3.4.1. North America
      • 3.4.2. Europe
      • 3.4.3. Asia Pacific
        • 3.4.3.1. Growing demand for supplier and market intelligence solutions
      • 3.4.4. Latin America
      • 3.4.5. MEA
    • 3.5. Restraints
      • 3.5.1. Lack of standardization
    • 3.6. Opportunity
      • 3.6.1. Digitalization in the Asia Pacific region
    • 3.7. Innovation & sustainability
    • 3.8. Porter's Five Forces Analysis
    • 3.9. PESTLE Analysis
    • 3.10. Spend Analytics Market: Market Attractiveness Analysis
      • 3.10.1. Market Attractiveness Analysis by Deployment
      • 3.10.2. Market Attractiveness Analysis by Component
      • 3.10.3. Market Attractiveness Analysis by Analytics
      • 3.10.4. Market Attractiveness Analysis by End-Use Industry
      • 3.10.5. Market Attractiveness Analysis by Region
  •  
  • Chapter 4. Global Spend Analytics Market - Competitive Landscape
    • 4.1. Company Market Share Analysis, 2018
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions and Mergers
      • 4.2.2. New Product Launch
      • 4.2.3. Agreements, Partnerships, Collaborations, and Joint Ventures
      • 4.2.4. Research & Development and Regional Expansion
  •  
  • Chapter 5. Spend Analytics Market - Deployment Analysis
    • 5.1. Global Spend Analytics Market Revenue Share, by Deployment, 2018 and 2025
    • 5.2. Global Spend Analytics Market by On-Premises, 2016-2025 (USD Billion)
    • 5.3. Global Spend Analytics Market by Cloud, 2016-2025 (USD Billion)
    • 5.4. Global Spend Analytics Market by Hybrid, 2016-2025 (USD Billion)
  •  
  • Chapter 6. Spend Analytics Market - Component Analysis
    • 6.1. Global Spend Analytics Market Revenue Share, by Component, 2018 and 2025
    • 6.2. Global Spend Analytics Market by Software, 2016-2025 (USD Billion)
    • 6.3. Global Spend Analytics Market by Services, 2016-2025 (USD Billion)
  •  
  • Chapter 7. Spend Analytics Market - Analytics Analysis
    • 7.1. Global Spend Analytics Market Revenue Share, by Analytics, 2018 and 2025
    • 7.2. Global Spend Analytics Market by Descriptive, 2016-2025 (USD Billion)
    • 7.3. Global Spend Analytics Market by Diagnostic, 2016-2025 (USD Billion)
    • 7.4. Global Spend Analytics Market by Predictive, 2016-2025 (USD Billion)
    • 7.5. Global Spend Analytics Market by Prescriptive, 2016-2025 (USD Billion)
  •  
  • Chapter 8. Spend Analytics Market - End-Use Industry Analysis
    • 8.1. Global Spend Analytics Market Revenue Share, by End-Use Industry, 2018 and 2025
    • 8.2. Global Spend Analytics Market by Retail, 2016-2025 (USD Billion)
    • 8.3. Global Spend Analytics Market by BFSI, 2016-2025 (USD Billion)
    • 8.4. Global Spend Analytics Market by IT & Telecom, 2016-2025 (USD Billion)
    • 8.5. Global Spend Analytics Market by Healthcare, 2016-2025 (USD Billion)
    • 8.6. Global Spend Analytics Market by Manufacturing, 2016-2025 (USD Billion)
    • 8.7. Global Spend Analytics Market by Energy & Utilities, 2016-2025 (USD Billion)
    • 8.8. Global Spend Analytics Market by Government Sector, 2016-2025 (USD Billion)
    • 8.9. Global Spend Analytics Market by Others, 2016-2025 (USD Billion)
  •  
  • Chapter 9. Spend Analytics Market - Regional Analysis
    • 9.1. Global Spend Analytics Market: Regional Overview
      • 9.1.1. Global Spend Analytics Market Revenue Share, By Region, 2018 and 2025
    • 9.2. North America
      • 9.2.1. North America Spend Analytics Market Revenue, 2016-2025 (USD Billion)
      • 9.2.2. North America Spend Analytics Market Revenue, By Deployment, 2016-2025 (USD Billion)
      • 9.2.3. North America Spend Analytics Market Revenue, By Component, 2016-2025 (USD Billion)
      • 9.2.4. North America Spend Analytics Market Revenue, By Analytics, 2016-2025 (USD Billion)
      • 9.2.5. North America Spend Analytics Market Revenue, By End-Use Industry, 2016-2025 (USD Billion)
      • 9.2.6. The U.S.
        • 9.2.6.1. The U.S. Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.2.6.2. The U.S. Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.2.6.3. The U.S. Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.2.6.4. The U.S. Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.2.7. Canada
        • 9.2.7.1. Canada Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.2.7.2. Canada Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.2.7.3. Canada Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.2.7.4. Canada Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.2.8. Mexico
        • 9.2.8.1. Mexico Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.2.8.2. Mexico Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.2.8.3. Mexico Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.2.8.4. Mexico Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
    • 9.3. Europe
      • 9.3.1. Europe Spend Analytics Market Revenue, 2016-2025 (USD Billion)
      • 9.3.2. Europe Spend Analytics Market Revenue, By Deployment, 2016-2025 (USD Billion)
      • 9.3.3. Europe Spend Analytics Market Revenue, By Component, 2016-2025 (USD Billion)
      • 9.3.4. Europe Spend Analytics Market Revenue, By Analytics, 2016-2025 (USD Billion)
      • 9.3.5. Europe Spend Analytics Market Revenue, By End-Use Industry, 2016-2025 (USD Billion)
      • 9.3.6. UK
        • 9.3.6.1. UK Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.3.6.2. UK Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.3.6.3. UK Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.3.6.4. UK Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.3.7. France
        • 9.3.7.1. France Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.3.7.2. France Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.3.7.3. France Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.3.7.4. France Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.3.8. Germany
        • 9.3.8.1. Germany Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.3.8.2. Germany Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.3.8.3. Germany Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.3.8.4. Germany Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.3.9. Italy
        • 9.3.9.1. Italy Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.3.9.2. Italy Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.3.9.3. Italy Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.3.9.4. Italy Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.3.10. Spain
        • 9.3.10.1. Spain Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.3.10.2. Spain Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.3.10.3. Spain Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.3.10.4. Spain Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.3.11. Rest of Europe
        • 9.3.11.1. Rest of Europe Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.3.11.2. Rest of Europe Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.3.11.3. Rest of Europe Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.3.11.4. Rest of Europe Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
    • 9.4. Asia Pacific
      • 9.4.1. Asia Pacific Spend Analytics Market Revenue, 2016-2025 (USD Billion)
      • 9.4.2. Asia Pacific Spend Analytics Market Revenue, By Deployment, 2016-2025 (USD Billion)
      • 9.4.3. Asia Pacific Spend Analytics Market Revenue, By Component, 2016-2025 (USD Billion)
      • 9.4.4. Asia Pacific Spend Analytics Market Revenue, By Analytics, 2016-2025 (USD Billion)
      • 9.4.5. Asia Pacific Spend Analytics Market Revenue, By End-Use Industry, 2016-2025 (USD Billion)
      • 9.4.6. China
        • 9.4.6.1. China Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.4.6.2. China Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.4.6.3. China Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.4.6.4. China Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.4.7. Japan
        • 9.4.7.1. Japan Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.4.7.2. Japan Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.4.7.3. Japan Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.4.7.4. Japan Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.4.8. India
        • 9.4.8.1. India Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.4.8.2. India Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.4.8.3. India Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.4.8.4. India Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.4.9. Australia
        • 9.4.9.1. Australia Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.4.9.2. Australia Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.4.9.3. Australia Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.4.9.4. Australia Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.4.10. South Korea
        • 9.4.10.1. South Korea Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.4.10.2. South Korea Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.4.10.3. South Korea Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.4.10.4. South Korea Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.4.11. Rest of Asia Pacific
        • 9.4.11.1. Rest of Asia Pacific Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.4.11.2. Rest of Asia Pacific Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.4.11.3. Rest of Asia Pacific Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.4.11.4. Rest of Asia Pacific Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
    • 9.5. Latin America
      • 9.5.1. Latin America Spend Analytics Market Revenue, 2016-2025 (USD Billion)
      • 9.5.2. Latin America Spend Analytics Market Revenue, By Deployment, 2016-2025 (USD Billion)
      • 9.5.3. Latin America Spend Analytics Market Revenue, By Component, 2016-2025 (USD Billion)
      • 9.5.4. Latin America Spend Analytics Market Revenue, By Analytics, 2016-2025 (USD Billion)
      • 9.5.5. Latin America Spend Analytics Market Revenue, By End-Use Industry, 2016-2025 (USD Billion)
      • 9.5.6. Brazil
        • 9.5.6.1. Brazil Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.5.6.2. Brazil Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.5.6.3. Brazil Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.5.6.4. Brazil Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.5.7. Argentina
        • 9.5.7.1. Argentina Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.5.7.2. Argentina Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.5.7.3. Argentina Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.5.7.4. Argentina Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.5.8. Rest of Latin America
        • 9.5.8.1. Rest of Latin America Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.5.8.2. Rest of Latin America Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.5.8.3. Rest of Latin America Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.5.8.4. Rest of Latin America Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
    • 9.6. The Middle East and Africa
      • 9.6.1. The Middle East and Africa Spend Analytics Market Revenue, 2016-2025 (USD Billion)
      • 9.6.2. The Middle East and Africa Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
      • 9.6.3. The Middle East and Africa Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
      • 9.6.4. The Middle East and Africa Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
      • 9.6.5. The Middle East and Africa Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.6.6. UAE
        • 9.6.6.1. UAE Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.6.6.2. UAE Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.6.6.3. UAE Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.6.6.4. UAE Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.6.7. Saudi Arabia
        • 9.6.7.1. Saudi Arabia Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.6.7.2. Saudi Arabia Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.6.7.3. Saudi Arabia Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.6.7.4. Saudi Arabia Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.6.8. South Africa
        • 9.6.8.1. South Africa Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.6.8.2. South Africa Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.6.8.3. South Africa Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.6.8.4. South Africa Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
      • 9.6.9. Rest of MEA
        • 9.6.9.1. Rest of MEA Spend Analytics Market Revenue, by Deployment, 2016-2025 (USD Billion)
        • 9.6.9.2. Rest of MEA Spend Analytics Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.6.9.3. Rest of MEA Spend Analytics Market Revenue, by Analytics, 2016-2025 (USD Billion)
        • 9.6.9.4. Rest of MEA Spend Analytics Market Revenue, by End-Use Industry, 2016-2025 (USD Billion)
  •  
  • Chapter 10. Company Profiles
    • 10.1. SAP SE
      • 10.1.1. Overview
      • 10.1.2. Financials
      • 10.1.3. Product portfolio
      • 10.1.4. Business strategy
      • 10.1.5. Recent developments
    • 10.2. SAS SE
      • 10.2.1. Overview
      • 10.2.2. Financials
      • 10.2.3. Product portfolio
      • 10.2.4. Business strategy
      • 10.2.5. Recent developments
    • 10.3. IBM Corporation
      • 10.3.1. Overview
      • 10.3.2. Financials
      • 10.3.3. Product portfolio
      • 10.3.4. Business strategy
      • 10.3.5. Recent developments
    • 10.4. Zycus
      • 10.4.1. Overview
      • 10.4.2. Financials
      • 10.4.3. Product portfolio
      • 10.4.4. Business strategy
      • 10.4.5. Recent developments
    • 10.5. Coupa Software
      • 10.5.1. Overview
      • 10.5.2. Financials
      • 10.5.3. Product portfolio
      • 10.5.4. Business strategy
      • 10.5.5. Recent developments
    • 10.6. Proactis Holdings
      • 10.6.1. Overview
      • 10.6.2. Financials
      • 10.6.3. Product portfolio
      • 10.6.4. Business strategy
      • 10.6.5. Recent developments
    • 10.7. JAGGAER
      • 10.7.1. Overview
      • 10.7.2. Financials
      • 10.7.3. Product portfolio
      • 10.7.4. Business strategy
      • 10.7.5. Recent developments
    • 10.8. Empronc Solutions
      • 10.8.1. Overview
      • 10.8.2. Financials
      • 10.8.3. Product portfolio
      • 10.8.4. Business strategy
      • 10.8.5. Recent developments
    • 10.9. Rosslyn Data Technologies
      • 10.9.1. Overview
      • 10.9.2. Financials
      • 10.9.3. Product portfolio
      • 10.9.4. Business strategy
      • 10.9.5. Recent developments
    • 10.10. Oracle Corporation
      • 10.10.1. Overview
      • 10.10.2. Financials
      • 10.10.3. Product portfolio
      • 10.10.4. Business strategy
      • 10.10.5. Recent developments

Methodology

Free Analysis

The increasing use of automation in the healthcare industry is paving the way for spend analytics market since the last few years. As healthcare costs are rising, organizations are opting for solutions that offer cost reduction and analysis of expenses that help in decision-making processes. Spend analytics analyze purchase orders, contracts, discounts, rebates, price variances for similar items from the same or different vendors over a specific timeframe. Furthermore, the U.S. health IT investments in 2018 were USD 8.6 billion as compared to USD 7.1 billion in 2017. Thus, it is anticipated that the demand for spend analytics solutions will grow in the upcoming years.

The global spend analytics market is expected to grow in the future, owing to the increasing demand for spend analytics solutions in the IT and telecom sector. Spend analytics helps telecom organizations to monitor their daily expenses in an efficient and effective manner. With the increasing number of smartphone users, telecom organizations are focusing on solutions that help them to manage and reduce costs to increase their profitability. However, the lack of standardization can have an adverse effect on this market’s growth. The rising demand for spend analytics solutions in developing economies, such as China and India, is likely to open new avenues for the spend analytics market over the forecast time period.

Global Spend Analytics Market

The global spend analytics market is fragmented on the basis of deployment, component, analytics, and end-use industry. The deployment segment comprises cloud, hybrid, and on-premises. The cloud segment is anticipated to hold a substantial share in the future, owing to its several benefits over other deployment methods. By component, the market includes software and services. On the basis of analytics, the spend analytics market descriptive, prescriptive, predictive, and diagnostic. Based on end-use industry, the market includes healthcare, retail, IT and telecom, BFSI, manufacturing, energy and utilities, government sector, and others. The manufacturing sector will grow significantly over the forecast timeframe, owing to the increasing use of online transactions for procurement.

By region, North America is estimated to hold a substantial share of the global spend analytics market over the forecasted timespan. The U.S. is expected to make notable contributions to this regional market. Furthermore, the presence of major players, such as IBM Corporation, Oracle Corporation, Coupa Software, etc., in this region is expected to further the North American spend analytics market in the future. The Middle Eastern and African region will witness notable growth in the spend analytics market in the upcoming years, owing to the increasing adoption of technology by the retail sector.

Some major players operating in the global spend analytics market include SAS Institute, IBM Corporation, Zycus, Coupa Software, Proactis Holdings, JAGGAER, Empronc Solutions, Rosslyn Data Technologies, Oracle Corporation, and SAP SE.

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