Market Share of Spend Analytics Industry
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
IBM Corporation
SAS Institute, Inc.
JAGGAER Incorporation
SAP SE
Coupa Software
*Disclaimer: Major Players sorted in no particular order
