Procurement covers applications designed for purchasing material (whether direct or indirect raw, in process, or finished as a result of or flowing into a product supply chain-specific business process or in support of performing a service) and services (business or professional).
Source: Apps Run The World, September 2022 Top 10 Procurement Software Vendors Exhibit 2: Worldwide Procurement Software Market 2021-2026 Forecast, $M Through our forecast period, the Procurement applications market size is expected to reach $5.6 billion by 2026, compared with $4.9 billion in 2021 at a compound annual growth rate of 2.8%. ( Sample from our Apps Database) Exhibit 1 – 2021 Procurement Applications Market Shares Split By Top 10 Procurement Vendors and Others We ask the simple question: Who’s buying Procurement applications from whom and why? And we provide the answers – supported by decades of research – to our clients around the world. In 2021, SAP led the pack with a 26.3% market share while Coupa was #2 followed by Oracle, GEP, and Unite (Formerly Mercateo Group). In 2021, the top 10 Procurement software vendors accounted for nearly 59.1% of the global Procurement applications market which grew 10.8% to approach nearly $4.9 billion in license, maintenance and subscription revenues.
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