Market Share and Forecast: Spend Analytics Tools, 2023-2028, Middle East and Africa (Bundle of Two Reports)

PUBLISHED: December 8, 2024

PAGES: 110 Pages

DELIVERY TIME: 1-2 business days

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List of Tables

This product includes two reports: Market Share and Market Forecast.

Market Share Description:

QKS Group Reveals that Spend Analytics Market is Projected to Register a CAGR of above average by 2028 in Middle East and Africa.

The spend analytics market in the Middle East and Africa (MEA) has been experiencing steady growth. Companies in the MEA region are increasingly investing in digital transformation initiatives, which include the adoption of spend analytics to optimize procurement and supply chain processes. The need for cost reduction and efficient management of procurement processes is pushing organizations to adopt spend analytics solutions. Despite challenges such as data privacy concern and shortage of skilled workers the market is poised for robust growth. Advancements in technology and increased awareness of the benefits of spend analytics driving the future growth. Companies are expected to continue investing in advanced analytics solutions to gain a competitive edge and enhance operational efficiency.

Quadrant Knowledge Solutions defines spend analytics software as "software that gathers, cleans, clusters, categorizes, and analyses an organization's end-to-end procurement spend to identify opportunities for saving cost, increasing productivity, and enhancing supplier relationships." The software integrates data from various sources, such as financial data and third-party data sources, to decrease wasteful procurement spend, mitigate contract compliance risks, help with making apt sourcing decisions, track and benchmark spend performance, and provide better visibility into expenditure data.

Market Forecast Description:

QKS Group Reveals that Spend Analytics Market is Projected to Register a CAGR of above average by 2028 in Middle East and Africa (MEA).

Middle East and Africa (MEA) has emerged as one of the most rapidly expanding markets for Spend Analytics tools. The spend analytics market in the Middle East and Africa (MEA) is experiencing significant growth, driven by various factors such as increasing digitalization, the adoption of advanced analytics tools, and the need for improved financial management and operational efficiency across businesses. Key factors driving the market include the widespread adoption of AI, machine learning (ML), and natural language processing (NLP) for data mining, as well as government initiatives to improve business environments and regulatory frameworks. Industries such as retail, manufacturing, BFSI, and IT & telecommunications are leading the adoption of spend analytics solutions in the region. Overall, technological advancements and a growing demand for efficient spend management solutions across various industries are propelling the market forward.

Product Code: QKS-05082

Market Share:

Chapter 01: Executive Summary

Key Research Findings
Top Predictions
Top Trends
Market Summary

Chapter 02: Market Overview

Market Definition and Scope
Key Factors Impacting the Market
Drivers & Restraints

Chapter 03: Market Share Analysis

Middle East and Africa Market Share
Middle East and Africa Market Share by Industry Verticals
Market Share by Media & Entertainment
Market Share by Retail
Market Share by BFSI
Market Share by Travel & Hospitality
Market Share by Education
Market Share by Public Sector
Market Share by Healthcare & Life Science
Market Share by Automotive
Market Share by Food & Beverage
Middle East and Africa Market Share by Deployment Type
Market Share by Deployment Type: On prem
Market Share by Deployment Type: Cloud
Middle East and Africa Market Share by Customer Type
Market Share by SMB
Market Share by Large
Market Share by Enterprise

Chapter 04: Company Profile

Company Overview
Analyst Perspectives and Analysis

Chapter 05: Appendix

Research Methodologies

Market Forecast: