Market Snapshot:
E-Procurement tools are an electronic information interchange system accustomed to support military science, operational, and strategic procurance. Internet-based resources and tools, like re-ordering, e-sourcing, e-auctioning, e-tendering, and e-catalog, are used within the method of procurance. Moreover, eProcurement tools will facilitate corporations deliver the goods procurance transformation through good analytics and automation so as to require selections across source-to-pay (S2P) operations.
Highlights from E-Procurement Tools Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
CAGR | 7.3% |
The key Players profiled in the report are Bechtle AG (Germany), Coupa Software Inc. (United States), Delta eSourcing (United Kingdom), GEP (United States), IBM Corporation (United States), INSIGHT (United States), JAGGAER (United States), Oracle Corporation (United States), SAP SE (Germany) and Medius Software Limited (United Kingdom). Additionally, other players that are part of this comprehensive study are Procurify Technologies Inc. (United States), Quintagroup (Ukraine) and Kissflow Inc. (India).
Geographic Breakdown and Segment Analysis
The Global E-Procurement Tools market presents a comprehensive analysis of the E-Procurement Tools market and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global E-Procurement Tools industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the North America holds majority of market share of the E-Procurement Tools market
Analyst at AMA have segmented the market study of Global E-Procurement Tools market by Type, Application and Region.
Influencing Trend:
Development in Support Software and Digital Logistics by Establishing Network Infrastructure Across the Industries and Integration of Automation like IoT and Artificial Intelligence for Faster Decision Making
Market Growth Drivers:
Expansion Of Internet E-Commerce and Procurement Through Websites and Email and Rise In Demand For E-Procurement Tools with Artificial Intelligence to Conduct Transactions Between Awarding Authorities and Suppliers
Challenges:
Improper Selection and Lack of Skilled Professionals Handling E-Procurement Tools
Restraints:
Rising Threats to Data Security Like Malware Attacks
Opportunities:
Rising Penetration and Integration of IoT and Smart Devices in Corporate and Consumer Electronics and Development in Multipurpose Dashboard and Tools for Ease of Operation
Market Developments Activities:
In June 2023, Bechtle AG acquired Acommit AG, a leading service provider for software and IT infrastructure solutions. This acquisition will strengthen the position of Bechtle AG in the market and add great value for consumers in terms of application solutions, software engineering, and IT infrastructure.
On 31st August, 2020 – Lotus Herbals (India-Based Herbal Cosmetic Manufacturer) Announced its Acquisition of Vedicare Ayurveda (Organic Skin-Care and Make-Up Company), under the Barnd Name SoulTree. The Acquisition is a Part of Lotus’s Expansion Strategy.
The global e-procurement tools market is highly fragmented, with the presence of numerous providers in developed and developing regions. Key players should be increasingly investing in research and development activities to develop new and innovative techniques to provide e-procurement tools.
Key Target Audience
E-Procurement Tools provider, Distributor/Supplier, Research Institutes, End User Industry and Others