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Retail Sourcing and Procurement Market is estimated to grow $4.83 Billion by 2021

(Wireless-NewsWire.Com, April 15, 2019 ) According to the new market reseachreport "Retail Sourcing and Procurement Market by Solution (Strategic Sourcing, Supplier Management, Contract Management, Procure-to-Pay, and Spend Analysis), Service (Implementation, Training, Consulting), Deployment, User and Region - Global Forecast to 2021", is estimated to grow from USD 2.58 Billion in 2016 to USD 4.83 Billion by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 13.4% from 2016 to 2021.

The need for better visibility in sourcing related data and centralization of procurement processes are the important driving factors fueling the growth of the retail sourcing and procurement market.

Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203509357

Browse and in-depth TOC on “Retail Sourcing and Procurement Market”
70 - Tables
66 - Figures
148 - Pages

Procure-to-Pay is expected to be the largest contributor in the solution segment

The market for procure-to-pay is expected to be the largest as it helps retail organizations to manage an articulate purchase-to-pay process, enabling organizations to achieve maximum productivity and efficiency for the overall procurement activity. Moreover, a restructured sourcing and procurement process makes it easier for users to automate purchase order processing. Furthermore, due to low costs and scalability features of the cloud deployment type, retail sourcing and procurement customers are expected to be more receptive toward cloud than on-premises. The end users in this market are also turning toward consulting services to deploy the right sourcing and procurement solution as per their business objectives.

The North American region is expected to contribute the maximum market share to the overall retail sourcing and procurement market

Among the regions, North America is expected to be the highest contributor followed by Europe. The market is in the emerging stage in the regions of Asia-Pacific (APAC), Latin America, and Middle East and Africa (MEA). Therefore, these regions exhibit immense scope for the adoption of retail sourcing and procurement solutions. There is huge return on investment in the retail sourcing and procurement market, but the need to conform to mandatory protocols and inappropriate management of invoice and payable in these regions is the major restraining factor for the wide adoption of retail sourcing and procurement solutions. Additionally, the growing technological developments in the field of cloud, analytics, and the emergence of Bring Your Own Device (BYOD) trend have led to the high adoption of sourcing and procurement solutions in the retail sector.

Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=203509357

The major vendors in the retail sourcing and procurement market include SAP SE, Oracle, IBM, Zycus, PROACTIS, Ivalua, GT Nexus, Epicor, Tradogram, GEP, Vroozi, and Cegid.

The retail sourcing and procurement market has been segmented into solutions, services, deployment types, user types, and regions. The solutions include strategic sourcing, supplier management, contract management, procure-to-pay, and spend analysis. Services offered in the retail sourcing and procurement market are implementation, training & support, and consulting services. Deployment types are segmented into cloud and on-premises. User types are classified as small & medium enterprises and large enterprises. Finally, the retail sourcing and procurement market is segmented on the basis of regions into North America, Europe, APAC, MEA, and Latin America.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


MarketsandMarkets™

Mr. Shelly Singh

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com



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