Market Overview:
The global procurement contract management market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The market growth is attributed to the increasing demand for cloud-based deployment, rising adoption of procurement contract management by small and medium enterprises, and growing demand for automated solutions in the procurement process. However, lack of awareness about the benefits of procurement contract management among small businesses is restraining the growth of this market. North America dominates the global procurement contract management market followed by Europe and Asia Pacific.
Product Definition:
The process of overseeing the creation and management of contracts related to the purchase of goods and services. The importance of procurement contract management is that it helps ensure that the organization gets what it needs, when it needs it, at a price that is fair and reasonable.
Cloud Deployment:
Cloud deployment is a service-based model where the applications are deployed on cloud and accessed through the internet. It helps in reducing costs, improving flexibility, and increasing reliability of business processes. The procurement department has been using this technique for many years to procure goods & services from different vendors by setting up contracts between them. Cloud deployment makes it easier to create new vendor relationships as well as extend or modify existing ones with minimal effort on the part of vendor representatives or administrators.
Local Deployment:
Local deployment is a method of deploying software where the source code and/or application logic are stored on the local network. In this method, procurement systems can be directly accessed from a remote location to perform daily operations such as purchase requests, invoicing etc. This eliminates the need for manually transferring data over a network or importing it into an accounting system which reduces manual work significantly resulting in increased productivity.
Application Insights:
The big business segment held the largest market share in 2017. This is attributed to the fact that this type of organizations can effectively manage multiple procurements and large-scale contracts. The small, medium and micro enterprises (SMEs) segment are expected to register the fastest growth over the forecast period owing to their ability to make effective use of procurement software as they have limited resources. SMEs conduct a large number of procurements on a regular basis as they are growing businesses with limited financial resources.
Procurement solutions for SMEs enable them to perform complex contract negotiations, identify best value suppliers quickly while reducing overall costs through transparency & visibility across all aspects of supply chain including sourcing, proposal evaluation & selection, negotiation & award management among others.
Regional Analysis:
The European region dominated the global market in 2017. The presence of a large number of IT companies and rapid technological advancements are some factors driving the regional market growth. Moreover, government initiatives to implement e-procurement systems and growing awareness about cloud deployment among businesses are also expected to drive demand for GPCM solutions over the forecast period.
Asia Pacific is anticipated to be one of the fastest-growing regions owing to increasing government spending on infrastructure development coupled with rising investments in big data analytics projects by companies from developed economies such as U.S., Germany, U.K., Japan, China and India (ADC).
Growth Factors:
- Increasing demand for contract management software from small and medium-sized businesses (SMBs)
- The increasing trend of outsourcing by organizations to reduce costs and improve efficiency
- The growing popularity of cloud-based solutions, which offer flexibility and scalability
- The increasing need for compliance with government regulations, such as the Sarbanes-Oxley Act (SOX) in the United States
- The rising number of mergers and acquisitions (M&As), which leads to an increased need for contract management
Scope Of The Report
Report Attributes
Report Details
Report Title
Procurement Contract Management Market Research Report
By Type
Cloud Deployment, Local Deployment
By Application
Big Business, Small, Medium and Micro Enterprises
By Companies
SAP Ariba, IBM, Concord, Icertis, PandaDoc, Oracle, Coupa, Conga, Agiloft, Contract Logix, DocuSign, Hand, Weaver, SecureDocs, ContractPod Technologies, Inspur, ContractSafe, Smartdot, Seeyon, ManageEngine ServiceDesk, Gatekeeper, Parley Pro, Outlaw, Landray
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
204
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Procurement Contract Management Market Report Segments:
The global Procurement Contract Management market is segmented on the basis of:
Types
Cloud Deployment, Local Deployment
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Big Business, Small, Medium and Micro Enterprises
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- SAP Ariba
- IBM
- Concord
- Icertis
- PandaDoc
- Oracle
- Coupa
- Conga
- Agiloft
- Contract Logix
- DocuSign
- Hand
- Weaver
- SecureDocs
- ContractPod Technologies
- Inspur
- ContractSafe
- Smartdot
- Seeyon
- ManageEngine ServiceDesk
- Gatekeeper
- Parley Pro
- Outlaw
- Landray
Highlights of The Procurement Contract Management Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud Deployment
- Local Deployment
- By Application:
- Big Business
- Small, Medium and Micro Enterprises
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Procurement Contract Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Procurement contract management is the process of managing procurement contracts. It includes developing and maintaining a procurement database, issuing purchase orders, tracking progress and performance of the contract, resolving disputes, and communicating with stakeholders.
Some of the key players operating in the procurement contract management market are SAP Ariba, IBM, Concord, Icertis, PandaDoc, Oracle, Coupa, Conga, Agiloft, Contract Logix, DocuSign, Hand, Weaver, SecureDocs, ContractPod Technologies, Inspur, ContractSafe, Smartdot, Seeyon, ManageEngine ServiceDesk, Gatekeeper, Parley Pro, Outlaw, Landray.
The procurement contract management market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Procurement Contract Management Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Procurement Contract Management Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Procurement Contract Management Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Procurement Contract Management Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Procurement Contract Management Market Size & Forecast, 2020-2028
4.5.1 Procurement Contract Management Market Size and Y-o-Y Growth
4.5.2 Procurement Contract Management Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Cloud Deployment
5.2.2 Local Deployment
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Big Business
6.2.2 Small
6.2.3 Medium and Micro Enterprises
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Procurement Contract Management Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Procurement Contract Management Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Cloud Deployment
9.6.2 Local Deployment
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Big Business
9.10.2 Small
9.10.3 Medium and Micro Enterprises
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Cloud Deployment
10.6.2 Local Deployment
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Big Business
10.10.2 Small
10.10.3 Medium and Micro Enterprises
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Cloud Deployment
11.6.2 Local Deployment
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Big Business
11.10.2 Small
11.10.3 Medium and Micro Enterprises
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Cloud Deployment
12.6.2 Local Deployment
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Big Business
12.10.2 Small
12.10.3 Medium and Micro Enterprises
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Cloud Deployment
13.6.2 Local Deployment
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Big Business
13.10.2 Small
13.10.3 Medium and Micro Enterprises
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Procurement Contract Management Market: Competitive Dashboard
14.2 Global Procurement Contract Management Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SAP Ariba
14.3.2 IBM
14.3.3 Concord
14.3.4 Icertis
14.3.5 PandaDoc
14.3.6 Oracle
14.3.7 Coupa
14.3.8 Conga
14.3.9 Agiloft
14.3.10 Contract Logix
14.3.11 DocuSign
14.3.12 Hand
14.3.13 Weaver
14.3.14 SecureDocs
14.3.15 ContractPod Technologies
14.3.16 Inspur
14.3.17 ContractSafe
14.3.18 Smartdot
14.3.19 Seeyon
14.3.20 ManageEngine ServiceDesk
14.3.21 Gatekeeper
14.3.22 Parley Pro
14.3.23 Outlaw
14.3.24 Landray
