Global Retail sourcing and procurement software market is valued approximately at USD 5.4billion in 2022 and is anticipated to grow with a healthy growth rate of more than 13.65% over the forecast period 2023-2030. Retail sourcing and procurement software is used by the retail industry for managing the transactions related to sourcing and procurement of goods and services from different vendors and resource providers. The retail sourcing and procurement software market is expanding because of rising automation in retail industry and growing number of e-commerce platforms. Its importance has progressively increased during the last few decades.
According to a survey conducted by Capgemini, Consumers may presently access product information and inventory availability via automation in 22% of retail locations, according to retailer responses. In the following three years, retailers anticipated that number to rise to 38% of stores. Another important component driving is growing number of e-commerce platforms. According to a recent report by Ecommerce Platforms, over 2.3 billion consumers made at least one purchase using e-commerce platforms in 2022 alone. This indicates that ecommerce shopping continues to grow on a regular basis. In 2023, the eCommerce market is anticipated to grow to USD4.11 trillion. Market volume is anticipated to reach USD6.35 trillion by 2027, with revenue predicted to expand at a rate of 11.51% per year CAGR 2023 to 2027. In addition, increasing number of mobile applications and rising technological advancement in retail sourcing and procurement software would create lucrative growth opportunity. However, Limited technical knowledge among the enterprise workforce and high cost stifles the market growth during the forecast period 2022-2030.
The key regions considered for the Global Retail sourcing and procurement software market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the rising technological advancement by key market players. According to Statista, the retail sourcing market is dominated by North America. The outsourcing market in the Americas has a value of 62 billion dollars. Asia Pacific is expected to fastest growing region during the forecast period, owing to factors such as rising number of e commerce platforms in the market and the need for sourcing and category expertise and strong demand to build better supplier relationships and enhanced purchasing experience.
Major market players included in this report are:
- Oracle Corporation
- International Business Machines Corporation
- System Analysis Program Development
- Zycus Infotech Private Limited
- LogicSource Inc.
- Bristlecone India Ltd.
- Perfect Commerce Pvt Ltd.
- Generation Expansion Planning
- Infor Inc.
- McCarthy Holdings Inc.
Recent Developments in the Market:
- September 2021- McCarthy Holdings, the U.S.-based construction firm, partnered with GEP to deploy its smart procurement software. The company aims to transform its source-to-pay process with GEP procurement software.
- December 2021 - Zycus opened an office in Japan as part of its business expansion strategy. The company's expansion is driven by the increasing demand and expansion of Software as a Service (SaaS) in the country.
Global Retail sourcing and procurement software market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Deployment Type , Component Type, User Type , Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Deployment Type :
By Component:
By User Type :
- Large Enterprise
- Small Enterprise
- Medium Enterprise
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Retail sourcing and procurement software Market, by region, 2020-2030 (USD Billion)
- 1.2.2. Retail sourcing and procurement software Market, by Deployment Type , 2020-2030 (USD Billion)
- 1.2.3. Retail sourcing and procurement software Market, by Component , 2020-2030 (USD Billion)
- 1.2.4. Retail sourcing and procurement software Market, by User Type , 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Retail sourcing and procurement software Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Retail sourcing and procurement software Market Dynamics
- 3.1. Retail sourcing and procurement software Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising automation in retail industry
- 3.1.1.2. Growing number of e-commerce platforms
- 3.1.2. Market Challenges
- 3.1.2.1. Limited technical knowledge
- 3.1.2.2. High Cost
- 3.1.3. Market Opportunities
- 3.1.3.1. Increasing number of mobile applications
- 3.1.3.2. Rising technological advancement
Chapter 4. Global Retail sourcing and procurement software Market: Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Retail sourcing and procurement software Market, by Deployment Type
- 5.1. Market Snapshot
- 5.2. Global Retail sourcing and procurement software Market by Deployment Type , Performance - Potential Analysis
- 5.3. Global Retail sourcing and procurement software Market Estimates & Forecasts by Deployment Type 2020-2030 (USD Billion)
- 5.4. Retail sourcing and procurement software Market, Sub Segment Analysis
- 5.4.1. On-premise
- 5.4.2. Cloud
Chapter 6. Global Retail sourcing and procurement software Market, by Component
- 6.1. Market Snapshot
- 6.2. Global Retail sourcing and procurement software Market by Component , Performance - Potential Analysis
- 6.3. Global Retail sourcing and procurement software Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
- 6.4. Retail sourcing and procurement software Market, Sub Segment Analysis
- 6.4.1. Solution
- 6.4.2. Services
Chapter 7. Global Retail sourcing and procurement software Market, by User Type
- 7.1. Market Snapshot
- 7.2. Global Retail sourcing and procurement software Market by User Type , Performance - Potential Analysis
- 7.3. Global Retail sourcing and procurement software Market Estimates & Forecasts by User Type 2020-2030 (USD Billion)
- 7.4. Retail sourcing and procurement software Market, Sub Segment Analysis
- 7.4.1. Large Enterprise
- 7.4.2. Small Enterprise
- 7.4.3. Medium Enterprise
Chapter 8. Global Retail sourcing and procurement software Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Retail sourcing and procurement software Market, Regional Market Snapshot
- 8.4. North America Retail sourcing and procurement software Market
- 8.4.1. U.S. Retail sourcing and procurement software Market
- 8.4.1.1. Deployment Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Component breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. User Type breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Retail sourcing and procurement software Market
- 8.5. Europe Retail sourcing and procurement software Market Snapshot
- 8.5.1. U.K. Retail sourcing and procurement software Market
- 8.5.2. Germany Retail sourcing and procurement software Market
- 8.5.3. France Retail sourcing and procurement software Market
- 8.5.4. Spain Retail sourcing and procurement software Market
- 8.5.5. Italy Retail sourcing and procurement software Market
- 8.5.6. Rest of Europe Retail sourcing and procurement software Market
- 8.6. Asia-Pacific Retail sourcing and procurement software Market Snapshot
- 8.6.1. China Retail sourcing and procurement software Market
- 8.6.2. India Retail sourcing and procurement software Market
- 8.6.3. Japan Retail sourcing and procurement software Market
- 8.6.4. Australia Retail sourcing and procurement software Market
- 8.6.5. South Korea Retail sourcing and procurement software Market
- 8.6.6. Rest of Asia Pacific Retail sourcing and procurement software Market
- 8.7. Latin America Retail sourcing and procurement software Market Snapshot
- 8.7.1. Brazil Retail sourcing and procurement software Market
- 8.7.2. Mexico Retail sourcing and procurement software Market
- 8.8. Middle East & Africa Retail sourcing and procurement software Market
- 8.8.1. Saudi Arabia Retail sourcing and procurement software Market
- 8.8.2. South Africa Retail sourcing and procurement software Market
- 8.8.3. Rest of Middle East & Africa Retail sourcing and procurement software Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Oracle Corporation
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. International Business Machines Corporation
- 9.3.3. System Analysis Program Development
- 9.3.4. Zycus Infotech Private Limited
- 9.3.5. LogicSource Inc.
- 9.3.6. Bristlecone India Ltd.-
- 9.3.7. Perfect Commerce Pvt Ltd.
- 9.3.8. Generation Expansion Planning
- 9.3.9. Infor Inc.
- 9.3.10. McCarthy Holdings Inc.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption