According to HTF MI, “Global Spend Analytics Outsourcing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030”. The Global Spend Analytics Outsourcing Market is anticipated to grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2030, reaching USD 5.9 Billion in 2024 and USD 8.6 Billion by 2030.
Spend analytics outsourcing refers to the practice of delegating the analysis of an organization’s expenditure data to a third-party service provider. It involves the collection, cleansing, categorization, and analysis of spend data to gain insights and improve decision-making related to procurement and cost management.
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Key and developing players who have been highlighted as part of the coverage include Accenture (Ireland), IBM Corporation (United States), Genpact (India), Capgemini (France), Infosys (India), Wipro (India), Deloitte (United States), KPMG International (Netherlands), EY (United Kingdom), PwC (United Kingdom), TCS (India), Cognizant (United States).
Spend Analytics Outsourcing
Market Drivers
- Cost reduction and efficiency improvement: Outsourcing spend analytics helps organizations reduce costs associated with setting up and maintaining an in-house analytics team, while benefiting from the expertise of outsourcing providers.
Market Trend
- Increasing adoption of cloud-based spend analytics solutions
Market Opportunities
- Small and medium-sized enterprises (SMEs): SMEs can leverage outsourcing services to access advanced spend analytics capabilities without significant upfront investments, enabling them to optimize their procurement processes.
Market Restraints
- Data privacy and security concerns
- Integration challenges
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Key Market Segmentation:
The report has categorized the Spend Analytics Outsourcing market based on type, distribution channel, and region.
Market Breakdown by Applications:
- Data Management and Cleansing, Spend Analysis and Reporting, Predictive Analytics, Supplier Performance Management, Others
Market Breakdown by Types:
- Banking, Financial Services, and Insurance (BFSI), Healthcare and Life Sciences, Retail and Consumer Goods, Manufacturing, IT and Telecom, Others
Report Scope
The Market size value in 2024 (USD 5.9 Billion)
Revenue Forecast by 2033 (USD 8.6 Billion)
Growth Rate CAGR Of (8.2%)
Historical Years (2019-2023)
Base Year (2023)
Estimated Year (2024)
Short-Term Projection Year (2030)
Regions Covered (North America, Europe, the Middle East and Africa, Latin America, and the rest of the world)
Note: With the help of the Growth Overview Charts, Historical Period Analysis, Forecast Period Analysis, Main Market Segmentation, Leading Key Market Players, TOC, List of Figures, and List of Tables in this report, you can get a thorough overview of the market.
Competitive Landscape:
Along with studying the profiles of the key players, the industry’s competitive environment has also been examined. Players profiled are Accenture (Ireland), IBM Corporation (United States), Genpact (India), Capgemini (France), Infosys (India), Wipro (India), Deloitte (United States), KPMG International (Netherlands), EY (United Kingdom), PwC (United Kingdom), TCS (India), Cognizant (United States)
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Key highlights of the report:
- Spend Analytics Outsourcing Market Performance (2019-2023)
- Spend Analytics Outsourcing Market Outlook (2024-2030)
- Spend Analytics Outsourcing Market Trends
- Spend Analytics Outsourcing Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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