Retail Sourcing & Procurement Solution Market by Service, Solution, Deployment, End-User

Description

List of Tables

The Retail Sourcing & Procurement Solution Market was valued at USD 3.58 billion in 2023, expected to reach USD 4.07 billion in 2024, and is projected to grow at a CAGR of 13.78%, to USD 8.84 billion by 2030.

Retail Sourcing & Procurement Solutions encompass tools and services designed to streamline and optimize the procurement processes within the retail industry. These solutions involve activities ranging from supplier selection and negotiation to order management, verification, and payment processes. The necessity for efficient sourcing and procurement solutions in retail arises from the need to reduce costs, improve supplier relationships, and enhance operational efficiency to remain competitive in a fast-paced market. Key applications include inventory management, contract management, supply chain analytics, and supplier management. End-use scope predominantly covers retail giants, e-commerce platforms, and small to mid-sized retailers aiming to capitalize on cost efficiencies and data-driven decision-making. The market's growth is influenced by increasing demand for automation, the importance of data analytics, and the drive towards sustainability in supply chains. Latest potential opportunities include the integration of artificial intelligence and machine learning to enhance procurement strategies and predictive analytics to foresee market trends. However, challenges such as data privacy concerns, high implementation costs, and resistance to change within organizations can impede growth. Innovation and research could focus on enhancing user interfaces for better stakeholder communication, leveraging blockchain for transparency and security in supply chains, and developing predictive analytics tools that offer real-time insights. Additionally, exploring cloud-based solutions can drive scalability and flexibility in procurement processes. The nature of the market is highly competitive and dynamic, with a notable rise in innovative startups providing niche solutions tailored to specific aspects of the procurement process. Companies investing in research and innovation, particularly in AI-driven analytics and blockchain integration, are likely to gain a competitive edge. Embracing these emerging technologies while aligning with regulatory standards and sustaining client trust will be crucial for sustained business growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 3.58 billion
Estimated Year [2024]	USD 4.07 billion
Forecast Year [2030]	USD 8.84 billion
CAGR (%)	13.78%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Retail Sourcing & Procurement Solution Market

The Retail Sourcing & Procurement Solution Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Growing centralisation of procurement processes
- Increasing adoption of sourcing and procurement software
- Rising need for better manage internal compliance to contracts
Market Restraints
- Reluctance to adopt new technologies
Market Opportunities
- Increasing development in the retail sourcing & procurement software
- Rising potential in evolving markets
Market Challenges
- Inability to manage supplier efficiency

Porter's Five Forces: A Strategic Tool for Navigating the Retail Sourcing & Procurement Solution Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Retail Sourcing & Procurement Solution Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Retail Sourcing & Procurement Solution Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Retail Sourcing & Procurement Solution Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Retail Sourcing & Procurement Solution Market

A detailed market share analysis in the Retail Sourcing & Procurement Solution Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Retail Sourcing & Procurement Solution Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Retail Sourcing & Procurement Solution Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Retail Sourcing & Procurement Solution Market

A strategic analysis of the Retail Sourcing & Procurement Solution Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Retail Sourcing & Procurement Solution Market, highlighting leading vendors and their innovative profiles. These include Basware Corporation, Blue Yonder Group, Inc., Bristlecone Inc., Coupa Software Inc., HighJump Software Inc., Infor, International Business Machines Corporation, Ivalua Inc., Jaggaer , Inc., Medius Sverige AB, Oracle Corporation, Perfect Commerce, LLC, Proactis Holdings Limited, SAP SE, and Zycus Inc..

Market Segmentation & Coverage

This research report categorizes the Retail Sourcing & Procurement Solution Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Service, market is studied across Consulting, Implementation, and Training & Support.
Based on Solution, market is studied across Contract Management, Procure-to-Pay, Spend Analysis, Strategic Sourcing, and Supplier Management.
Based on Deployment, market is studied across Cloud and On-Premise.
Based on End-User, market is studied across Large Enterprise and Small & Medium Enterprise.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-035AB9C0DAF6

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing centralisation of procurement processes
  - 5.1.1.2. Increasing adoption of sourcing and procurement software
  - 5.1.1.3. Rising need for better manage internal compliance to contracts
- 5.1.2. Restraints
  - 5.1.2.1. Reluctance to adopt new technologies
- 5.1.3. Opportunities
  - 5.1.3.1. Increasing development in the retail sourcing & procurement software
  - 5.1.3.2. Rising potential in evolving markets
- 5.1.4. Challenges
  - 5.1.4.1. Inability to manage supplier efficiency
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Retail Sourcing & Procurement Solution Market, by Service

6.1. Introduction
6.2. Consulting
6.3. Implementation
6.4. Training & Support

7. Retail Sourcing & Procurement Solution Market, by Solution

7.1. Introduction
7.2. Contract Management
7.3. Procure-to-Pay
7.4. Spend Analysis
7.5. Strategic Sourcing
7.6. Supplier Management

8. Retail Sourcing & Procurement Solution Market, by Deployment

8.1. Introduction
8.2. Cloud
8.3. On-Premise

9. Retail Sourcing & Procurement Solution Market, by End-User

9.1. Introduction
9.2. Large Enterprise
9.3. Small & Medium Enterprise

10. Americas Retail Sourcing & Procurement Solution Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Retail Sourcing & Procurement Solution Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Retail Sourcing & Procurement Solution Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Basware Corporation
2. Blue Yonder Group, Inc.
3. Bristlecone Inc.
4. Coupa Software Inc.
5. HighJump Software Inc.
6. Infor
7. International Business Machines Corporation
8. Ivalua Inc.
9. Jaggaer , Inc.
10. Medius Sverige AB
11. Oracle Corporation
12. Perfect Commerce, LLC
13. Proactis Holdings Limited
14. SAP SE
15. Zycus Inc.