Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Procurement Software Market size worth $ 9.5 Billion, Globally, by 2028 at 7.6% CAGR: Verified Market Research®

This image opens in the lightbox

News provided by

Verified Market Research

27 Apr, 2022, 14:15 GMT

Share this article

Share toX

Share this article

Share toX

The rising need for the automation of procurement processes, the emergence of e-Procurement technology, growth in the international transactions, and other factors will drive the growth of the Procurement Software Market in the coming years

JERSEY CITY, N.J., April 27, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Procurement Software Market" By Type (Cloud, On-Premises), By Application (School, Factory, Hospital), and By Geography. According to Verified Market Research, the Global Procurement Software Market size was valued at USD 5.5 Billion in 2020 and is projected to reach USD 9.5 Billion by 2028, growing at a CAGR of 7.6% from 2021 to 2028.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=225820

Browse in-depth TOC on "Procurement Software Market"

202 - Pages

126 – Tables

37 – Figures

Global Procurement Software Market Overview

Procurement software has several solutions that help companies streamline their operations and maintain inventory. Procurement software allows organizations to increase and approve purchase orders, select and order products or services, receive and match invoices and orders, and online debit payments. Procurement software tools enable companies to perform the best purchasing and pricing activities for their tender vendors, as it is important for companies that need to acquire large quantities of goods. With the implementation of purchase software solutions, companies can work with suppliers, track events, receive alerts, and analyze business intelligence data to gain insight into the procurement process for predicting and planning purposes. Procurement software refers to a digital platform that allows efficient management of several procurement needs of a particular organization.

The procurement software is gaining noteworthy traction from various businesses from all across the world. This growth is attributed to the different benefits this software offers. Procurement software helps users improve overall activities that are involved in the procurement mechanism and supports in maintaining transparency in all these activities. The main objective of this tool is to help companies achieve a standard production supply at the lowest prices. The majority of enterprises operating in the procurement software industry are pouring efforts toward the development of superior quality products. As a result, they are engaged in research and development activities. Moreover, several enterprises are focused on gaining a leading position in the procurement software industry.

Thus, they are increasing their participation in merger and acquisition activities. On the back of all these activities, the Global Procurement Software Market may expand at a moderate pace in the years to follow. One of the main drivers of the Procurement Software Market is the consolidation of the supply chain management (SCM) process that reduces overall process complexity. The rising need for the automation of procurement processes the emergence of e-Procurement technology will drive the growth prospects for the Global Procurement Software Market in the coming years. Due to the automation of the procurement process, quality control may suffer which can hinder the market growth. One of the major challenges is that it is extremely complex, and users need extensive training to use it.

Key Developments

  • On September 2021, Cascades launched the first in the bathroom tissue and paper towel in Canada and the USA markets which are 100% recycled plastic packaging.
  • On November 2020, Accrol acquired the LTC Group, a tissue converter to increase the business of good scale with high-quality, modern machine assets, comprising four tissue lines, with significant capacity, highly effective systems, and to improve day-to-day operations.

Key Players

The major players in the market are Basware, IBM, Oracle Corporation, PROACTIS, SAP SE, SciQuest, BravoSolution, BuyerQuest, Coupa Software Inc., Elcom, Epicor Software Corporation, Infor Inc., IQNavigator, JDA Software, Microsoft Corporation, Ginesys, Zycus, Inc, Ivalua Inc, Jaggaer, and Tangoe, Inc.

Verified Market Research has segmented the Global Procurement Software Market On the basis of Type, Application, and Geography.

  • Procurement Software Market, By Type
    • Cloud
    • On-Premises
    • Others
  • Procurement Software Market, By Application
    • School
    • Factory
    • Hospital
    • Supermarket
    • Others
  • Procurement Software Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

Browse Related Reports:

Service Procurement Market By Component (Solutions, Services), By Vertical (Telecom and IT, Manufacturing), By Geography, Forecast, 2021-2028

Retail Sourcing and Procurement Software Market By Component (Solution, Strategic Sourcing, Supplier Network), By Deployment Type (Cloud, On-premise), By Geography, Forecast, 2021-2028

Spend Analytics Market By Analytics Type (Descriptive, Predictive, and Prescriptive), By Business Function (Information Technology, Finance, Procurement), By Organization Size (Large Enterprises and Small and Medium Organizations), By Component (Software and Services), By Deployment Mode (Cloud-based and On-premises), By Application (Financial Management, Demand and Supply Forecasting), By Vertical (Healthcare, Government and Defense, IT and Telecom), By Geography, Forecast, 2021-2028

Procurement As A Service (PaaS) Market By Product (Strategic Sourcing, Spend Management, Category Management, Process Management, Contract Management, Transactions Management, Others), By Application (Manufacturing, BFSI, Retail and Consumer Goods, IT and Telecom, Energy and Utilities, Healthcare, Others), By Geography, Forecast, 2021-2028

Top 7 Supply Chain AI Companies: Harbinger of just-in-time framework

Visualize Procurement Software Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us

Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: sales@verifiedmarketresearch.com  
Web: https://www.verifiedmarketresearch.com/  
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/1315349/Verified_Market_Research_Logo.jpg

Modal title

Also from this source

Vinyl Flooring Market is expected to generate a revenue of USD 50 Billion by 2031, Globally, at 6.30% CAGR: Verified Market Research®

Vinyl Flooring Market is expected to generate a revenue of USD 50 Billion by 2031, Globally, at 6.30% CAGR: Verified Market Research®

The Global Vinyl Flooring Market Size is projected to grow at a CAGR of 6.30% from 2024 to 2031, according to a new report published by Verified...

Fluorspar Market is expected to generate a revenue of USD 4.28 Billion by 2032, Globally, at 4.80% CAGR: Verified Market Research®

Fluorspar Market is expected to generate a revenue of USD 4.28 Billion by 2032, Globally, at 4.80% CAGR: Verified Market Research®

The Global Fluorspar Market Size is projected to grow at a CAGR of 4.80% from 2026 to 2032, according to a new report published by Verified Market...

More Releases From This Source

Explore

Computer & Electronics

Computer & Electronics

Computer Software

Computer Software

Computer Software

Computer Software

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.