Date : November 2024
The global procurement analytics market size is estimated to hit around USD 38.14 billion by 2033, increasing from USD 4.13 billion in 2023 with a CAGR of 24% from 2023 to 2033. The top companies operating in the procurement analytics are SAP SE, Oracle Corporation, IBM Corporation, Coupa Software, JAGGAER (now part of SAP), Zycus Inc., SAS Institute Inc., BravoSolution (now part of Coupa), Determine, Inc., GEP Worldwide, BirchStreet Systems, Rosslyn Data Technologies, Proactis Holdings, Basware Corporation, Ivalua Inc., and Others.
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 24% |
| Market Size in 2023 | USD 4.13 Billion |
| Market Size by 2033 | USD 38.14 Billion |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Component, By Deployment Mode, By Enterprise Size, and By Industry Vertical |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
In September 2021, Coupa Software unveiled a strategic collaboration with Japan Cloud, marking the inception of a joint venture named Coupa K.K. This partnership positions Coupa to efficiently cater to the increasing demand from Japanese enterprises seeking enhanced efficiency and flexibility through Business Spend Management solutions.
In a parallel development in April 2021, Oracle and SailGP, a premier sailing racing league globally, extended their successful Procurement Analytics platform in anticipation of the league's second season. This expansion underscores Oracle's commitment to providing advanced procurement solutions, contributing to the optimization of SailGP's operations as they navigate the complexities of their global sporting events.
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