What is Sourcing Software Market?
Sourcing software, also known as strategic sourcing software or eSourcing software, falls under the category of eProcurement. Unlike eProcurement software, however, it doesn’t help client manage the entire procurement process. Instead, it focuses on the identification and selection of suppliers. It achieves this by making collaboration easier, managing documents such as RFPs and offering a platform for making easy comparisons.
The market study is being classified by Type (On-premise and Cloud-based), by Application (Logistics Company, Storage Company and Others) and major geographies with country level break-up.
ISAP (Germany), Capgemini (France), ESM Solutions (United States), Coupa Software (United States), JAGGAER, Inc. (United States), Determine, Inc. (United States), Winddle (France), Xeeva, Inc. (United States), ClearTrack Information Network (United States) and eBid Systems, Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are GEP Worldwide (United States), Market Dojo (United Kingdom) and Zycus (United States).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Sourcing Software market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Sourcing Software market by Type, Application and Region.
On the basis of geography, the market of Sourcing Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Consolidation of Supply Chain Management (SCM) Process
- Increased Need for Cost Reduction in the Sourcing Process
Market Trend
- Rising Artificial Intelligence (AI) systems
- The emergence of Mobile Sourcing Technology
Opportunities
- The Emerging Demand from Asia Pacific Regions
Challenges
- Dynamic Sourcing Service Requirements
Market Leaders and some development strategies
On 28 Feb. 2019, Determine, Inc., a pioneering leader in global Source-to-Pay and Enterprise Contract Lifecycle Management (ECLM) Cloud Platform solutions, will bring the latest in thinking and best practices around strategic sourcing technology to the 2019 Aeroxchange Conference at Disney’s Grand Floridian Resort & Spa in Lake Buena Vista, Florida on March 6-8, 2019.
On 22 Jan. 2019, Xeeva, Inc., a global provider of intelligent procurement and sourcing software, announced the issuance of a new patent for its Virtual Data Manager capabilities. The patent incorporates functionality for rapidly enriching data records to improve both quality and consistency.
Key Target Audience
Sourcing Software Vendors, End Users, Regulatory Bodies, Government Bodies and Others