DUBLIN--(BUSINESS WIRE)--The "Sourcing Software Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The global sourcing software market is expected to register a CAGR of over 7.4% during the forecast period (2021 - 2026).
The increasing internet shopping and significant shifts in consumer buying patterns, different trends are shaping the industries in the last few years. With aggressive competition, industries are struggling to maintain the inventory and find profitability to initiate them to take a defensive position.
- JAGGAER, Inc.
- Coupa Software Incorporated
- Zycus Inc.
- Ariba Inc.
- IBM Corporation
- Oracle Corporation
- Microsoft Corporation
- Infor Inc.
- Capgemini SE
Key Market Trends
Retail Industry to Hold Significant Share
- The digital transformation in the retail industry supply chain is anticipated to drive the retail sourcing and procurement market. Advancements in digital technologies are revamping the supply chain management and are poised to change the way procurement delivers value to retailers.
- According to a recent survey, around 84% of procurement businesses believe that digital transformation would substantially change the way services are offered over the next three to five years.
- With the rise of internet shopping and significant shifts in consumer buying patterns, different trends are shaping the retail industry in the last few years. With an aggressive competition, retailers are struggling to maintain the inventory and find profitability to initiate them to take a defensive position
- Further, with the advent of digital technologies such as artificial intelligence (AI), blockchain, and robotics, there will be an increased level of stock visibility for both vendors and retailers and greater transparency. Blockchain enables retailers to gain customer trust by maintaining sourcing data, chain-of-custody information and supporting autonomous transactions.
Asia-Pacific to witness Significant Growth
- The rapid economic growth in emerging countries such as India and China are anticipated to provide opportunities for sourcing solution providers. According to the World Bank, India's GDP is estimated to grow at 6.7% in 2017 and further at 7.3% in 2018. While, China's GDP is expected to grow at 6.8% and 6.4%, respectively, in 2017 and 2018. Changing demographics, increasing disposable income and urbanization are driving growth in the industries such as manufacturing, retail, IT and telecom in India.
- Also, increasing private and foreign player investments in the country is propelling the overall growth. For instance, Walmart Inc., Tesco.com and GAP Inc. are sourcing their products from India and are shifting towards establishing their sourcing centers instead of third-party buying centers. Rapid economic growth in emerging economies and increasing disposable income are expected to serve as an opportunity for retail sourcing and procurement vendors.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increased need for cost reduction in the sourcing process
4.3.2 Growing Demand for Automation of the Sourcing Process
4.4 Market Restraints
4.4.1 System integration challenges
4.4.2 Requirement of Dynamic Sourcing Service
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By End User
5.1.3 IT & Telecom
5.2.1 North America
5.2.3 Asia Pacific
5.2.4 Rest of World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 JAGGAER, Inc.
6.1.2 Coupa Software Incorporated
6.1.3 Zycus Inc.
6.1.4 Ariba Inc.
6.1.5 IBM Corporation
6.1.6 Oracle Corporation
6.1.7 Microsoft Corporation
6.1.8 Infor Inc.
6.1.9 Capgemini SE
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/l2dyxq