Strategic Sourcing Application Suites Market

Strategic sourcing application suites are a set of related, integrated solutions that support upstream procurement activities; in other words, the strategic work the procurement team does for planning, assessment and performance management. Strategic sourcing application suites are used primarily by companies with $800 million or more in annual revenue that, typically, have the necessary critical mass of spend. The strategic sourcing application suite delivers four primary capabilities. Most vendors offer these capabilities as separately licensable modules: Spend analysis is a software- and service-based solution for cleansing, enhancing, classifying and analyzing spend data. It features rule-based data cleansing, automated category-level classification, analytics and decision support. Automated spend analysis is used in procurement and sourcing to quantify spend by supplier, category and part, and to identify opportunities for cost reduction and supply base resizing.

Strategic Sourcing Application Suites Market contains market size and forecasts of Strategic Sourcing Application Suites in Global, including the following market information:

Global Strategic Sourcing Application Suites Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global top five companies in 2021 (%)

The global Strategic Sourcing Application Suites market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

Cloud-based Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Strategic Sourcing Application Suites include JAGGAER, SAP Ariba, Scout RFP, Coupa, SAP, GEP, Zycus, IBM and Determine, etc. In 2021, the global top five players have a share approximately % in terms of revenue.

We surveyed the Strategic Sourcing Application Suites companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Strategic Sourcing Application Suites Market, by Type, 2017-2022, 2023-2028 ($ millions)

Global Strategic Sourcing Application Suites Market Segment Percentages, by Type, 2021 (%)

• Cloud-based
• On-premises

Global Strategic Sourcing Application Suites Market, by Application, 2017-2022, 2023-2028 ($ millions)

Global Strategic Sourcing Application Suites Market Segment Percentages, by Application, 2021 (%)

• Cleansing
• Automated Category-Level Classification
• Analytics and Decision Support

Global Strategic Sourcing Application Suites Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)

Global Strategic Sourcing Application Suites Market Segment Percentages, By Region and Country, 2021 (%)

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Benelux
• Rest of Europe
• Asia
• China
• Japan
• South Korea
• Southeast Asia
• India
• Rest of Asia
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• Turkey
• Israel
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

• Key companies Strategic Sourcing Application Suites revenues in global market, 2017-2022 (estimated), ($ millions)
• Key companies Strategic Sourcing Application Suites revenues share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players include:

• JAGGAER
• SAP Ariba
• Scout RFP
• Coupa
• SAP
• GEP
• Zycus
• IBM
• Determine
• Scanmarket
• Ivalua
• SynerTrade
• Vortal
• Tradeshift
• Open Windows