DUBLIN, June 19, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Spend Analytics Market - Global Forecast to 2022" report to their offering.
The spend analytics market is expected to grow from USD 1.33 Billion in 2017 to USD 3.01 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 17.7%.
Need for predictive analytics for businesses, requirement for better managing internal compliance policies and external contracts, and growing demand for cloud computing technology are other factors fueling the growth of this market. However, difficulty in migrating from legacy systems is the biggest restraint for the spend analytics market.
Finance departments need to constantly monitor, identify, and react with speed to various changes being implemented because of changes in regulation, risk, and compliance. By analyzing financial data along with pricing data, organizations can come up with strategies to improve profits and restrict unwanted spending. Spend analytics provides a platform to measure and standardize performance, monitor trends, and optimize strategies, which are instrumental in allocating capital, managing assets, and mitigating risks.
In 2017, North America is expected to dominate the spend analytics market with the largest market size. This trend is expected to continue throughout the forecast period. The spend analytics market is revealing a strong positive trend in this region, owing to the easy availability of spend analytics solutions. Various companies and industries are adopting spend analytics software and services to create business models that support real-time decision-making with data and improve productivity. The Asia Pacific (APAC) region is expected to exhibit the highest growth rate. This growth can be attributed to growing awareness, surge in spend data, and increasing demand for real-time spend analytics.
- Bravosolution Spa
- Coupa Software Incorporated
- Empronc Solutions Pvt. Ltd.
- International Business Machines Corporation
- Ivalua Inc.
- Oracle Corporation
- Rosslyn Data Technologies Plc
- Sap Se
- Sas Institute Inc.
- Zycus Inc.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview And Industry Trends
6 Spend And Procurement Analytics Market Analysis, By Application
7 Spend And Procurement Analytics Market Analysis, By Component
8 Spend And Procurement Analytics Market Analysis, By Analytics Type
9 Spend And Procurement Analytics Market Analysis, By Business Function
10 Spend And Procurement Analytics Market Analysis, By Deployment Model
11 Spend And Procurement Analytics Market Analysis, By Organization Size
12 Spend And Procurement Analytics Market Analysis, By Vertical
13 Geographic Analysis
14 Competitive Landscape
15 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/zvzqxx/spend_analytics
Research and Markets
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SOURCE Research and Markets