Spend Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Market Report Covers Global Spend Analysis Companies and is Segmented by Type (Software, Service), Deployment (On-Premises, Cloud), Analysis (Descriptive, Prescriptive, Predictive), End-user Industry (Manufacturing, Supply Chain and logistics, Retail, BFSI, IT & Telecommunication, Education, Healthcare), and Geography.

Spend Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Spend Analytics Market Size

Spend Analytics Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 17.90 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Spend Analytics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Spend Analytics Market with other markets in Technology, Media and Telecom Industry

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Security & Surveillance

Spend Analytics Market Analysis

The Spend Analytics Market is expected to register a CAGR of 17.9% during the forecast period.

  • Spend analytics is the process of gathering, cleaning, classifying, and analyzing spend data using either specialist software or one-time spend cubes. Spend analysis evaluates spending data to reduce expenses, improve efficiency, or strengthen supplier relationships.
  • The market studied is expected to have more opportunities to expand in the next years due to the increasing popularity of mobile applications and the increased demand for cloud computing technologies. Big data's expanding importance and cloud computing technologies are two key factors that impact a company's requirement for business intelligence. Data generation increased tremendously due to digitization, which also altered the use of data. A key accelerator for digital transformation is clouded. It offers flexibility by eclipsing conventional data processing and accessing possibilities by delivering real-time synchronization across the cloud or on-premise. The market studied appears to be expanding overall.
  • Advanced analytics, quick insights, and cloud strategies transformed the digital landscape around personalized customer experiences, omnichannel networks, and agile supply chains. IBM and Oxford Economics study indicated trends in retail, with a shift to cloud hosting environments expected to gain traction for the retail sector. The study showed that, on average, only 22% of applications were in the cloud in 2018, going up to 40% in 2020, and estimated to reach 57% by 2022. About 61% of respondents stated investing in the cloud became the most crucial thing in 2021, signifying a quick transition to seeing huge benefits. Such a rise in the adoption of the cloud by retailers is expected to increase the demand for the deployment of cloud-based spend analytics.
  • However, the market studied for spend analytics faces several difficulties, including maintaining uniformity in business semantics and interpretations, fears about data privacy and security, and issues with a positive return on investment (ROI). Additionally, the market growth may be constrained by the difficulty of migrating from legacy systems. The future expansion of the spend analytics business may also be hampered by the lack of a defined process, the abundance of data sources, and the difficulty in transitioning from legacy systems. The market studied for expenditure analytics may also be severely hampered by the increasingly strict regulatory regulations on data security and breaches.
  • For instance, in March 2022, Xeeva, the AI-driven Spend Management and Procurement software firm serving hundreds of locations and enterprises globally, were thrilled to announce the release of Spend Analytics with Intelligent Opportunities and a new appearance. This new release allows Xeeva clients to analyze and act on application-generated savings and sourcing opportunities with an updated user interface.
  • The COVID-19 outbreak enabled companies to incorporate new features in their existing products to cater to a wide range of customers' needs during the COVID-19 pandemic. For example, SpendHQ is assisting clients in analyzing and comprehending the impact of the COVID-19 crisis on their supply chain and procurement requirements. The company created pre-built interactive dashboards using its SaaS spend analysis technology to enable clients to make crucial operational decisions as they navigate the crisis. Examples of such use cases include healthcare organizations managing their inventory of essential personal protective equipment (PPE) throughout their network of providers by using data on daily infection rates by county.
  • Since the pandemic, the market's growth has been rising gradually as companies focus on becoming more efficient, changing customer habits need companies to adjust to their needs, and companies of all sizes look to the future.

Spend Analytics Industry Overview

The spend analytics market is fragmented in nature, as no single vendor dominates the market, as well as new emerging players, are thriving in intense rivalry. These players aim to gain an edge over the other players through innovative product development by investing in research and development and player acquisitions. Key players are IBM Corporation, SAS Institute Inc., JAGGAER Incorporation, etc. Recent developments in the market are -

  • April 2022 - SAS and Microsoft could collaborate to create deep technological integrations to make advanced health analytics more accessible to healthcare and life science enterprises. The collaboration could improve healthcare interoperability by facilitating the adoption of Fast Healthcare Interoperability Resources (FHIR) standards and integrating Azure Health Data Services with SAS Health on Azure.
  • January 2022 - SAP SE and Icertis announced expanding their partnership for improved contract management, helping companies increase efficiency, minimize risk, and realize the whole purpose of their agreements. The partnership could include a financial investment from SAP in Icertis. It is expected to lead to a joint product roadmap and deeper technological integration to help deliver enterprise-wide value, including greater compliance, faster negotiations, and AI-powered business insights and automation.

Spend Analytics Market Leaders

  1. IBM Corporation

  2. SAS Institute, Inc.

  3. JAGGAER Incorporation

  4. SAP SE

  5. Coupa Software

  6. *Disclaimer: Major Players sorted in no particular order
Spend Analytics Market Concentration
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Spend Analytics Market News

  • July 2022 - SAP SE announced the acquisition of Askdata, a startup specializing in search-driven analytics. SAP increases its capabilities to help enterprises make better-informed decisions by employing AI-driven natural language searches with the purchase of Askdata. Users may search, interact, and collaborate on real data to gain the most business insights.
  • February 2022 - JAGGAER announced the purchase of DocSkiff Inc., an AI-powered contracts analysis platform. Using artificial intelligence and machine learning, the integration of DocSkiff into the JAGGAER ONE platform would enable enterprises to extract, examine, and analyze contract information autonomously.

Spend Analytics Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 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 Rising Adoption in Procurement Process in Industries
    • 4.3.2 Rising Adoption of Cloud Services and Increasing Penetration of IoT Applications
  • 4.4 Market Restraints
    • 4.4.1 Growing Data Breaches Cases
  • 4.5 Value Chain / Supply Chain Analysis
  • 4.6 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.6.1 Threat of New Entrants
    • 4.6.2 Bargaining Power of Buyers/Consumers
    • 4.6.3 Bargaining Power of Suppliers
    • 4.6.4 Threat of Substitute Products
    • 4.6.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 By Type
    • 5.1.1 Software
    • 5.1.2 Service
    • 5.1.2.1 Professional Service
    • 5.1.2.2 Managed Service
  • 5.2 By Analysis
    • 5.2.1 Descriptive
    • 5.2.2 Prescriptive
    • 5.2.3 Predictive
  • 5.3 By Deployment
    • 5.3.1 On-Premise
    • 5.3.2 Cloud
  • 5.4 By End-user Industry
    • 5.4.1 Manufacturing
    • 5.4.2 Supply Chain & Logistic
    • 5.4.3 Retail
    • 5.4.4 BFSI
    • 5.4.5 IT & Telecommunication
    • 5.4.6 Education
    • 5.4.7 Healthcare
    • 5.4.8 Other End-user Industries
  • 5.5 By Geography
    • 5.5.1 North America
    • 5.5.2 Europe
    • 5.5.3 Asia-Pacific
    • 5.5.4 Latin America
    • 5.5.5 Middle East & Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 IBM Corporation
    • 6.1.2 SAS Institute Inc.
    • 6.1.3 JAGGAER Incorporation
    • 6.1.4 SAP SE
    • 6.1.5 Coupa Software
    • 6.1.6 Proactis Inc.
    • 6.1.7 Oracle Corporation
    • 6.1.8 Empronc Solutions Pvt. Ltd
    • 6.1.9 Zycus Inc.
    • 6.1.10 Genpact
    • 6.1.11 Sievo Oy
  • *List Not Exhaustive

7. INVESTMENT ANALYSIS

8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Spend Analytics Industry Segmentation

Spend analytics is identifying, gathering, cleaning, grouping, categorizing, and analyzing an organization's spending data. Boosting visibility and transparency aims to lower procurement costs and increase efficiency. Organizations may acquire the information needed to cut costs and improve efficiency by using real-time data and analytics.

The scope of the study focuses on analyzing the global spend analytics solutions market (hereafter referred to as the market studied) and services worldwide. Market sizing encompasses the revenue generated through spend analytics globally sold by various market players. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyzes the overall impact of the COVID-19 pandemic on the ecosystem. The report's scope encompasses market sizing and forecast for segmentation by type, analysis, deployment, end-user industry, and geography.

By Type Software
Service Professional Service
Managed Service
By Analysis Descriptive
Prescriptive
Predictive
By Deployment On-Premise
Cloud
By End-user Industry Manufacturing
Supply Chain & Logistic
Retail
BFSI
IT & Telecommunication
Education
Healthcare
Other End-user Industries
By Geography North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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Spend Analytics Market Research FAQs

What is the current Spend Analytics Market size?

The Spend Analytics Market is projected to register a CAGR of 17.9% during the forecast period (2025-2030)

Who are the key players in Spend Analytics Market?

IBM Corporation, SAS Institute, Inc., JAGGAER Incorporation, SAP SE and Coupa Software are the major companies operating in the Spend Analytics Market.

Which is the fastest growing region in Spend Analytics Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Spend Analytics Market?

In 2025, the North America accounts for the largest market share in Spend Analytics Market.

What years does this Spend Analytics Market cover?

The report covers the Spend Analytics Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Spend Analytics Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Spend Analytics Industry Report

Statistics for the 2025 Spend Analytics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Spend Analytics analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.