Retail Sourcing and Procurement Market - Global Forecast to 2021 - New Market Report

From: Fast Market Research, Inc.
Published: Wed May 18 2016


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

"The need for better visibility in sourcing related data to drive the retail sourcing and procurement market"

The retail sourcing and procurement market size is estimated to grow from USD 2.58 billion in 2016 to USD 4.83 billion by 2021, at an estimated CAGR of 13.4%. The need for better visibility in sourcing related data, centralization of procurement processes, and improved collaboration between suppliers and retail organizations are the important driving factors fueling the growth of the retail sourcing and procurement market.

Full Report Details at
- http://www.fastmr.com/prod/1171483_retail_sourcing_procurement.aspx?afid=301

"The procure-to-pay solution to gain maximum traction during the forecast period"

The procure-to-pay solution is estimated to contribute the largest market share during the forecast period. Furthermore, as procurement and invoice management activities are linked, the demand for this solution is expected to be comparatively more than the other solutions such as supplier management and contract management. Additionally, the procure-to-pay solution allows organizations to achieve error-free payment processes along with assisting the end users to make financial management and accounts management easier and meaningful. In terms of services, implementation service is the highest contributor to the services segment. The consulting services segment is expected to grow at the highest rate from 2016 to 2021. North America is expected to be the largest revenue generating region followed by Europe, whereas Asia-Pacific (APAC) and Latin America are expected to be emerging potential markets for retail sourcing and procurement solutions and services.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.

* By Company Type: Tier 1 - 55%, Tier 2 - 20%, and Tier 3 - 25%
* By Designation: C-level - 60%, Director-level - 25%, and others - 15%
* By Region: North America - 10%, Europe- 20%, Asia-Pacific - 40%, and ROW - 30%

With the developments and innovations in cloud and mobile technologies, huge opportunity lies for retail companies to adopt sourcing and procurement solutions to increase their procurement related operational effectiveness and attain a high-level of customer satisfaction. Furthermore, the organizations are also turning toward consulting services for the deployment of the right solution as per their business objectives, thereby making it the fastest growing services segment.

The various key retail sourcing and procurement vendors and service providers profiled in the report are as follows:

1. SAP SE

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Managed Mobility Services Market - Global Forecast to 2021
- Mobile Marketing Market - Global Forecast to 2021
- Integrated Workplace Management System Market - Global Forecast to 2021
- Business Process Management Market - Global Forecast to 2021
- Hybrid Cloud Market - Global Forecast to 2021

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

Visit website »