Enjoy complimentary customisation on priority with our Enterprise License!
The predicted growth of the vendor management software market share from 2021 to 2026 is USD 4.06 billion at a progressing CAGR of 12.27%. The vendor management software market vendors are - 360factors Inc., Corcentric Inc., Coupa Software Inc., Deskera USA Inc., eSellerHub, EV Cargo, HICX Solutions Ltd., Intelex Technologies, International Business Machines Corp., Ivalua Inc., LogicGate Inc., LogicManager Inc., MasterControl Inc., MetricStream Inc., Proactis Holdings Plc, Quantivate LLC, SalesWarp, SAP SE, Zoho Corp. Pvt. Ltd., and Zycus Inc. among others. Furthermore, this vendor management software market research report extensively covers vendor management software market segmentation by:
Download the Free Report Sample to Unlock the Vendor Management Software Market Size for the Forecast Period and Other Important Statistics
Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increased adoption of cloud-based vendor management software is notably driving the vendor management software market growth, although factors such as high implementation and maintenance costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the vendor management software industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Vendor Management Software Market Driver
Key Vendor Management Software Market Trend
Key Vendor Management Software Market Challenge
This vendor management software market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global vendor management software as a part of the global application software market within the global IT software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the vendor management software market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the vendor management software market encompasses successful business strategies deployed by the key vendors. The vendor management software market is fragmented and the vendors are deploying growth strategies such as acquiring smaller vendors to expand their product portfolio and increase their market share to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The vendor management software market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the vendor management software market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
42% of the market's growth will originate from North America during the forecast period. The US is the key market for vendor management software in North America. Market growth in this region will be faster than the growth of the market in the South American and MEA regions.
The availability of adequate IT infrastructure and the wide geographical presence of employees due to the increasing globalization will facilitate the vendor management software market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic-induced lockdowns had a devastating effect on the regional economy, as well as SMEs, in 2020. The revenue of companies such as retail and others declined, and many employees were laid off due to the losses incurred. In 2021, with the easing of lockdowns and the adoption of effective vaccination measures, the companies in the manufacturing industry tried to revive their businesses. Thus, companies that faced challenges such as enabling remote working and others announced plans to increase productivity by investing in automation technologies such as IoT and AI.
To gain further insights on the market contribution of various segments Request for a FREE sample
The vendor management software market share growth by the BFSI segment will be significant during the forecast period. The BFSI sector is in a state of flux due to the existence of several regulatory and demographic factors and multiple technologies. These factors are largely impacting the BFSI sector as traditional banking methods are not enough to meet the increasing customer expectations and improve profitability. The adoption of vendor management software is rising in the BFSI sector because organizations in this sector are focusing on cost-effectiveness and boosting savings from operations.
This report provides an accurate prediction of the contribution of all the segments to the growth of the vendor management software market size and actionable market insights on post COVID-19 impact on each segment.
|
Vendor Management Software Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 12.27% |
|
Market growth 2022-2026 |
$ 4.06 billion |
|
Market structure |
Fragmented |
|
YoY growth (%) |
11.46 |
|
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 42% |
|
Key consumer countries |
US, China, Japan, Germany, and France |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
360factors Inc., Corcentric Inc., Coupa Software Inc., Deskera USA Inc., eSellerHub, EV Cargo, HICX Solutions Ltd., Intelex Technologies, International Business Machines Corp., Ivalua Inc., LogicGate Inc., LogicManager Inc., MasterControl Inc., MetricStream Inc., Proactis Holdings Plc, Quantivate LLC, SalesWarp, SAP SE, Zoho Corp. Pvt. Ltd., and Zycus Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Deployment
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
