Global E-Procurement Tools Market Overview:
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.
- Expansion Of Internet E-Commerce and Procurement Through Websites and Email
- Rise In Demand For E-Procurement Tools with Artificial Intelligence to Conduct Transactions Between Awarding Authorities and Suppliers
- Rising Threats to Data Security Like Malware Attacks
- Rising Penetration and Integration of IoT and Smart Devices in Corporate and Consumer Electronics
- Development in Multipurpose Dashboard and Tools for Ease of Operation
- Improper Selection and Lack of Skilled Professionals Handling E-Procurement Tools
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.
Some of 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, following companies can also be profiled that are part of our coverage like Procurify Technologies Inc. (United States), Quintagroup (Ukraine) and Kissflow Inc. (India). Considering Market by Industry Verticals, the sub-segment i.e. BFSI will boost the E-Procurement Tools market. Considering Market by Procurement Model, the sub-segment i.e. Activity-Based Model (Indirect Procurement System (IPS) will boost the E-Procurement Tools market. Considering Market by Deployment, the sub-segment i.e. On-Premises will boost the E-Procurement Tools market. Considering Market by Offering, the sub-segment i.e. Solution/ Software will boost the E-Procurement Tools market.
Latest Market Insights:
In 2018, 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.
What Can be Explored with the E-Procurement Tools Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global E-Procurement Tools Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in E-Procurement Tools
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global E-Procurement Tools market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in E-Procurement Tools market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes E-Procurement Tools provider, Distributor/Supplier, Research Institutes, End User Industry and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global E-Procurement Tools Market?
The E-Procurement Tools market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in E-Procurement Tools Market?
Top performing companies in the Global E-Procurement Tools market 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), to name a few.
3. What trending factors would impact E-Procurement Tools Market growth most?
"Development in Support Software and Digital Logistics by Establishing Network Infrastructure Across the Industries
" is seen as one of major influencing trends for E-Procurement Tools Market during projected period 2020-2026.