Market Share of Spend Analytics Software Industry
The spending analytics software market is moderately competitive and is currently dominated by a few players with technological expertise in data analytics. The global market is expected to be consolidated in nature. The major players with a significant market share are focusing on expanding their customer base across various countries by leveraging product innovation and strategic collaborative initiatives to increase their market share and profitability. Genpact Ltd., Capgemini SE, WNS Global Services Pvt. Ltd., IBM Corporation, SAP SE, Jaggaer Inc., Zycus Inc., Coupa Software Inc., Ivalua Inc., Proactis Inc., GEP Solutions Pvt. Ltd., and Empronc Solutions Pvt. Ltd. are some of the significant players present in the current market.
In August 2022, Archlet, a software company that helps procurement make better sourcing decisions faster, launched. Sievo announced a new collaboration that would enable procurement to strategically manage business spending from spend analysis through sourcing execution and savings monitoring by combining the two major platforms.
Spend Analytics Software Market Leaders
Capgemini SE
IBM Corporation
SAP SE
Genpact Ltd.
Jaggaer Inc.
*Disclaimer: Major Players sorted in no particular order
