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Business Spend Management Software Market Size, Share, and Analysis, By Solution (Procure to Pay, Travel and Expense Management, Spend Management/Spend Analytics, Contract & Tender Management and Others), By Deployment (Cloud, On Premise), By Enterprise Type (SMEs and Large Enterprise), By End User (BFSI, IT, And Telecom, Energy, Healthcare, Manufacturing, Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

June 2024 | 380 pages | ID: B2E7C6243FFCEN
Fatpos Global

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Business Spend Management Software Market Size, Share, and Analysis, By Solution (Procure t%li%Pay, Travel and Expense Management, Spend Management/Spend Analytics, Contract & Tender Management and Others), By Deployment (Cloud, On Premise), By Enterprise Type (SMEs and Large Enterprise), By End User (BFSI, IT, And Telecom, Energy, Healthcare, Manufacturing, Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

PRODUCT OVERVIEW

Business Spend Management Software Market is anticipated t%li%grow at a CAGR of 12% in the forecast period (2024-2034), with the market size valued at USD 20.4 billion in 2023 and projected t%li%reach USD 70.8 billion by 2034.

Business Spend Management (BSM) Software comprises of a collection of digital tools and platform which are designed in order t%li%ease out, automate and optimize various aspects of a company's spending processes. These solutions generally cover a large range of functions which includes procurement, supplier management, spend management, invoice processing, expense management, and financial analysis. BSM software are being used by various organizations and corporations t%li%gain better insights and control over the various spending activities, which directly helps them t%li%make better informed decisions, reducing the overall costs and risks associated with businesses. BSM software effectively use various modern technology such as artificial intelligence, machine learning, and data analytics in order t%li%provide better insights and predictive analytics. The market consists of a diverse range of companies from larger software giants t%li%specialized smaller vendors, each offering services tailored t%li%needs of customers.

MARKET HIGHLIGHTS

Business Spend Management Software Market is anticipated t%li%reach USD 70.8 billion, growing at a CAGR of 12% during the forecast period due t%li%the main rising needs for better cost optimization and operational efficiency across diverse industries. Business Spend Management Software are known for facilitating businesses while providing better solutions such as Procure t%li%Pay, Travel and Expense Management, Spend Management/Spend Analytics, Contract & Tender Management. Which are all based on either Cloud servers or On Premise solutions cantered on company premises, every form of enterprise effectively uses these service ranging from SMEs t%li%Large Enterprises. These software are effectively used in various industries ranging from BFSI, IT, And Telecom, Energy, Healthcare, Manufacturing and Others.

Business Spend Management Software Market Segments:
  • By Solution
    • Procure t%li%Pay
  • Travel and Expense Management
  • Spend Management/Spend Analytics
  • Contract & Tender Management
  • Others
  • By Deployment
  • Cloud
  • On Premise
  • By Enterprise Type
  • SMEs
  • Large Enterprise
  • By End User
  • BFSI
  • IT and Telecom
  • Energy
  • Healthcare
  • Manufacturing
  • Others
MARKET DYNAMICS

Growth Drivers

Growing need for better cost control in the companies is fuelling the demand for better spending management services

Improving Compliance Requirements by various governments are enhancing needs for spending management software

Restraint

Security concerns among corporations and users stand as the major obstacle for better growth

Key Players
  • SAP SE
  • Zycus Inc.
  • Oracle Corporation
  • IBM Corporation
  • Coupa Software Inc.
  • GEP
  • Jaggaer
  • Proactis Holdings
  • Ivalua Inc.
  • Determine Inc. (Corcentric)
  • Basware Corporation
  • Apptricity Corp.
  • SutiSoft Inc.
  • Intelex Technologies
  • FreshBooks
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Laboratory Temperature Control Units Market is further segmented by region into:
  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Reasons t%li%Purchase this Report
  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
  • Provision of market value (USD Billion) data for each segment and sub-segment
      • Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
  • Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
  • Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
  • Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
    • The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
  • Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
    • Provides insight int%li%the market through Value Chain
    • Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
  • 3-month post-sales analyst support.
1.EXECUTIVE SUMMARY

1.1. Regional Market Share
1.2.Business Trends
1.3. Business Spend Management Software Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot

2. RESEARCH METHODOLOGY

2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
  2.5.1.Paid Sources
  2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation

3. MARKET CHARACTERISTICS

3.1.Market Definition
3.2.Business Spend Management Software Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data

4.BUSINESS SPEND MANAGEMENT SOFTWARE MARKET – INDUSTRY INSIGHTS

4.1. Industry Segmentation
4.2.COVID-19 overview on world economy
4.3.Industry ecosystem Channel analysis
4.4.Innovation & Sustainability

5. MACROECONOMIC INDICATORS

6. RECENT DEVELOPMENTS

7. MARKET DYNAMICS

7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends

8.RISK ANALYSIS

9. MARKET ANALYSIS

9.1.Porters Five Forces
9.2. PEST Analysis
  9.2.1.Political
  9.2.2. Economic
  9.2.3. Social
  9.2.4. Technological

10.BUSINESS SPEND MANAGEMENT SOFTWARE MARKET

10.1.Overview
10.2. Historical Analysis (2019-2022)
  10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast

11. BUSINESS SPEND MANAGEMENT SOFTWARE MARKET SIZE & FORECAST 2024A-2034F

11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
  11.3.1.By Solution
    11.3.1.1. Procure to Pay
      11.3.1.1.1.By Value (USD Million) 2024-2034F
      11.3.1.1.2. Market Share (%) 2024-2034F
      11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
    11.3.1.2. Travel and Expense Management
      11.3.1.2.1. By Value (USD Million) 2024-2034F
      11.3.1.2.2.Market Share (%) 2024-2034F
      11.3.1.2.3.Y-o-Y Growth (%) 2024-2034
    11.3.1.3.Spend Management/Spend Analytics
      11.3.1.3.1. By Value (USD Million) 2024-2034F
      11.3.1.3.2.Market Share (%) 2024-2034F
      11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
    11.3.1.4.Contract & Tender Management
      11.3.1.4.1. By Value (USD Million) 2024-2034F
      11.3.1.4.2.Market Share (%) 2024-2034F
      11.3.1.4.3.Y-o-Y Growth (%) 2024-2034F
    11.3.1.5.Others
      11.3.1.5.1. By Value (USD Million) 2024-2034F
      11.3.1.5.2.Market Share (%) 2024-2034F
      11.3.1.5.3.Y-o-Y Growth (%) 2024-2034F
  11.3.2. By Deployment
    11.3.2.1.Cloud
      11.3.2.1.1. By Value (USD Million) 2024-2034F
      11.3.2.1.2.Market Share (%) 2024-2034F
      11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
    11.3.2.2. On Premise
      11.3.2.2.1.By Value (USD Million) 2024-2034F
      11.3.2.2.2. Market Share (%) 2024-2034F
      11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
  11.3.3.By Enterprise Type
    11.3.3.1.SMEs
      11.3.3.1.1. By Value (USD Million) 2024-2034F
      11.3.3.1.2.Market Share (%) 2024-2034F
      11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
    11.3.3.2. Large Enterprise
      11.3.3.2.1.By Value (USD Million) 2024-2034F
      11.3.3.2.2. Market Share (%) 2024-2034F
      11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
  11.3.4.By End User
    11.3.4.1.BFSI
      11.3.4.1.1. By Value (USD Million) 2024-2034F
      11.3.4.1.2.Market Share (%) 2024-2034F
      11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
    11.3.4.2. IT And Telecom
      11.3.4.2.1.By Value (USD Million) 2024-2034F
      11.3.4.2.2. Market Share (%) 2024-2034F
      11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.3. Energy
      11.3.4.3.1.By Value (USD Million) 2024-2034F
      11.3.4.3.2. Market Share (%) 2024-2034F
      11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.4.Healthcare
      11.3.4.4.1.By Value (USD Million) 2024-2034F
      11.3.4.4.2. Market Share (%) 2024-2034F
      11.3.4.4.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.5. Manufacturing
      11.3.4.5.1.By Value (USD Million) 2024-2034F
      11.3.4.5.2. Market Share (%) 2024-2034F
      11.3.4.5.3. Y-o-Y Growth (%) 2024-2034F
    11.3.4.6. Others
      11.3.4.6.1.By Value (USD Million) 2024-2034F
      11.3.4.6.2. Market Share (%) 2024-2034F
      11.3.4.6.3. Y-o-Y Growth (%) 2024-2034F

12.NORTH AMERICA BUSINESS SPEND MANAGEMENT SOFTWARE MARKET SIZE & FORECAST 2024A-2034F

12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
  12.3.1.By Solution
  12.3.2. By Deployment
  12.3.3. By Enterprise Type
  12.3.4. By End User
12.4. Country
  12.4.1. United States
  12.4.2. Canada

13.EUROPE BUSINESS SPEND MANAGEMENT SOFTWARE MARKET SIZE & FORECAST 2024A-2034F

13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
  13.3.1.By Solution
  13.3.2. By Deployment
  13.3.3. By Enterprise Type
  13.3.4. By End User
13.4.Country
  13.4.1.Germany
  13.4.2. United Kingdom
  13.4.3. France
  13.4.4. Italy
  13.4.5. Spain
  13.4.6. Russia
  13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)

14.ASIA-PACIFIC BUSINESS SPEND MANAGEMENT SOFTWARE MARKET SIZE & FORECAST 2024A-2034F

14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
  14.3.1.By Solution
  14.3.2. By Deployment
  14.3.3. By Enterprise Type
  14.3.4. By End User
14.4. Country
  14.4.1.India
  14.4.2. China
  14.4.3. South Korea
  14.4.4.Japan
  14.4.5.Rest of APAC

15.MIDDLE EAST AND AFRICA BUSINESS SPEND MANAGEMENT SOFTWARE MARKET SIZE & FORECAST 2024A-2034F

15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
  15.3.1.By Solution
  15.3.2. By Deployment
  15.3.3. By Enterprise Type
  15.3.4. By End User
15.4.Country
  15.4.1. Israel
  15.4.2. GCC
  15.4.3. North Africa
  15.4.4.South Africa
  15.4.5. Rest of Middle East and Africa

16. LATIN AMERICA BUSINESS SPEND MANAGEMENT SOFTWARE MARKET SIZE & FORECAST 2024A-2034F

16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
  16.3.1.By Solution
  16.3.2. By Deployment
  16.3.3. By Enterprise Type
  16.3.4. By End User
16.4.Country
  16.4.1. Mexico
  16.4.2. Brazil
  16.4.3. Rest of Latin America

17. COMPETITIVE LANDSCAPE

17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders

18. COMPANY PROFILES

18.1.SAP SE
  18.1.1.Company Overview
  18.1.2.Financial Overview
  18.1.3.Key Product; Analysis
  18.1.4.Company Assessment
    18.1.4.1.Product Portfolio
    18.1.4.2.Key Clients
    18.1.4.3. Market Share
    18.1.4.4. Recent News & Development (Last 3 Yrs.)
    18.1.4.5. Executive Team
18.2.Zycus Inc.
18.3.Oracle Corporation
18.4.IBM Corporation
18.5.Coupa Software Inc.
18.6.GEP
18.7.Jaggaer
18.8.Proactis Holdings
18.9.Ivalua Inc.
18.10. Determine Inc. (Corcentric)
18.11. Basware Corporation
18.12.Apptricity Corp.
18.13.SutiSoft Inc.
18.14. Intelex Technologies
18.15.FreshBooks
18.16.Other Prominent Players

19. APPENDIX

20.CONSULTANT RECOMMENDATION



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