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(Wireless-NewsWire.Com, December 14, 2017 ) According to Publisher, the Global Spend Analytics Market is accounted for $1.09 billion in 2016 and is expected to reach $3.54 billion by 2023 growing at a CAGR of 18.3 % during the forecast period. Expanding requirement for supplier and market intelligence and Predictive Analytics for businesses are some drivers which are positively affecting the market. However, trouble in migrating from legacy systems is hindering the market. Developing demand for cloud computing technology is providing the significant growth opportunities for the market.
By analytics type, descriptive analytics segment is projected to grow at a fastest CAGR due to growing appropriation of computerized innovations. By geography, Asia pacific is estimated to grow at a highest CAGR during the forecast period due to increasing machinery cost in countries such as China and India.
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Some of the key players in Spend Analytics market include Jaggaer, SAP SE, Oracle Corporation, Proactis, Ivalua Inc., Coupa Software Incorporated, International Business Machines Corporation, Empronc Solutions Pvt. Ltd., Bravosolution SPA, SAS Institute Inc., Zycus Inc., and Rosslyn Data Technologies PLC.
Analytics Types Covered:
-Prescriptive Analytics
-Descriptive Analytics
-Predictive Analytics
Deployment Models Covered:
-Cloud
-On-Premises
Applications Covered:
-Governance and Compliance Management
-Financial Management
-Demand and Supply Forecasting
-Risk Management
-Supplier Sourcing and Performance Management
-Other Applications
Organization Sizes Covered:
-Large Enterprises
-Small and Medium-Sized Businesses
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Components Covered:
-Services
-Professional Services
-Consulting
-Managed Services
-Support and Maintenance
-Software
End Users Covered:
-Healthcare and Life Sciences
-Energy and Utilities
-Retail and Ecommerce
-Banking, Financial Services, and Insurance
-Manufacturing
-Telecommunications and IT
-Government and Defense
-Other End Users
Business Functions Covered:
-Marketing
-Finance
-Procurement
-Information Technology
Regions Covered:
-North America
-US
-Canada
-Mexico
-Europe
-Germany
-France
-Italy
-UK
-Spain
-Rest of Europe
-Asia Pacific
-Japan
-China
-India
-Australia
-New Zealand
-South Korea
-Rest of Asia Pacific
-South America
-Argentina
-Brazil
-Chile
-Rest of South America
-Middle East & Africa
-Saudi Arabia
-UAE
-Qatar
-South Africa
-Rest of Middle East & Africa
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Rajat Sahni
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Source: EmailWire.Com 
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