PUBLISHER: Acute Market Insights Private Limited | PRODUCT CODE: 1129120
PUBLISHER: Acute Market Insights Private Limited | PRODUCT CODE: 1129120
Business Spend Management (BSM) Software Market - Growth, Future Prospects and Competitive Analysis, 2022 - 2030
Key Market Insights
Streamlining the business processes to optimize spending is improving adoption of BSM software worldwide
Using BSM software solution, enterprises can reduce their cost of goods & services, increased procurement leverages, process efficiency, and also mitigate the risk which may cause by supplier non-performance or supplier non-compliance. Additionally, the increased transparency in the procurement process and increased visibility into spending and contract provides enhanced financial control, organizational agility, and increased productivity.
With the growth of enterprises, it is difficult to manage the spending of a large number of vendors and transactions. Also, with rising cost-effective software solutions, high growth start-ups and companies are data-driven and diligent in the way to manage and regulate their spending. This shifts the enterprises towards BSM software to manage their spending.
Enterprise Type Analysis
"SMEs is Dominant in 2021 owing to its increasing numbers worldwide"
Among the enterprise size, the small & medium enterprises (SMEs) segment expected to grow at the fastest rate during the forecast period. The increasing number of SMEs across the globe and their adoption of software solutions to manage their spending through a single platform is driving the demand for business spend management software. Further, the insurgence of SMEs in Europe from last year has a high impact on the growing adoption of software; thereby, increasing the market size in 2021.
Regional Analysis
"The rising number of SMEs expected to grow Asia Pacific market at the fastest rate"
Asia Pacific is home to a large number of SMEs which are adopting BSM software. These SMEs are affecting the rising wages and increasing the number of global enterprises in the region. To stay competitive in the growing competition, regional enterprises are shifting towards reducing their operational cost. This, in turn, aided the adoption of BSM software in the region.
However, some of the industrial factors which are reducing the adoption of BSM software in the region include the high cost of a new platform, integration of new software with existing system, and ROI.
"Emerging Partnership Trend is keeping the Market Competitive"
The overall business spend management software market is fragmented and market players are focusing on advancing their current technology and partnering with other companies to grab a major share of the market. For instance, in November 2019, American Express partnered with Coupa Software Inc. to launch virtual AmEx on Coupa's BSM platform. With this new virtual card, businesses can pay for its goods and services through the Coupa platform.
List of Companies Covered:
Ariba Inc.
Coupa Software Inc.
Advanced
Procurify
IBM
TRADOGRAM
Fraxion
SutiSoft, Inc.
Sievo
GEP
Others
Key Industry Development:
In December 2019, BT Group selected Ariba Inc. as its technology partner to deploy its technology across its businesses that include, finance, procurement, and workforce management. This will help BT Group to manage its spending in a better way and increase the client base of Ariba Inc.
In November 2019, Serco Group plc. selected GEP as a strategic partner to manage its procurement services. This cloud-based, AI-powered digital platform will be used for direct and indirect procurement. With this partnership, GEP expected to increase market share in the near future.
Historical & Forecast Period:
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Business Spend Management (BSM) Software market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report
Micro and macro environment factors that are currently influencing the Business Spend Management (BSM) Software market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE DETAILS
Research Period 2020-2030
Base Year 2021
Forecast Period 2022-2030
Historical Year 2020
Unit USD Million
Segmentation
Solution
Procure to pay
Travel & expense management
Spend Analysis
Contract Management
Others
Enterprise
Large
SMEs
Deployment
On-cloud
On-premise
End-use
BFSI
IT & Telecom
Energy
Healthcare
Manufacturing
Others
Region Segment (2020-2030; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Million )
Pre COVID-19 situation
Post COVID-19 situation
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Business Spend Management (BSM) Software market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Business Spend Management (BSM) Software market?
Which is the largest regional market for Business Spend Management (BSM) Software market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Business Spend Management (BSM) Software market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Business Spend Management (BSM) Software market worldwide?
Table of Contents
1. Preface
- 1.1. Report Description
- 1.1.1. Purpose of the Report
- 1.1.2. Target Audience
- 1.1.3. Key Offerings
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.3.1. Phase I - Secondary Research
- 1.3.2. Phase II - Primary Research
- 1.3.3. Phase III - Expert Panel Review
- 1.3.4. Assumptions
- 1.3.5. Approach Adopted
2. Executive Summary
- 2.1. Market Snapshot: Global Business Spend Management (BSM) Software Market
- 2.2. Global Business Spend Management (BSM) Software Market, By Solution, 2021 (US$ Million)
- 2.3. Global Business Spend Management (BSM) Software Market, By Enterprise, 2021 (US$ Million)
- 2.4. Global Business Spend Management (BSM) Software Market, By Deployment, 2021 (US$ Million)
- 2.5. Global Business Spend Management (BSM) Software Market, By End-use, 2021 (US$ Million)
- 2.6. Global Business Spend Management (BSM) Software Market, By Geography, 2021 (US$ Million)
- 2.7. Impact of Covid 19
- 2.8. Attractive Investment Proposition by Geography, 2021
- 2.9. Competitive Analysis
- 2.9.1. Market Positioning of Key Business Spend Management (BSM) Software Market Vendors
- 2.9.2. Strategies Adopted by Business Spend Management (BSM) Software Market Vendors
- 2.9.3. Key Industry Strategies
3. Business Spend Management (BSM) Software Market: Business Outlook & Market Dynamics
- 3.1. Introduction
- 3.2. Global Business Spend Management (BSM) Software Market Value, 2020 - 2030, (US$ Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers
- 3.3.2. Market Restraints
- 3.3.3. Key Challenges
- 3.3.4. Key Opportunities
- 3.4. Impact Analysis of Drivers and Restraints
- 3.5. See-Saw Analysis
- 3.6. Porter's Five Force Model
- 3.6.1. Supplier Power
- 3.6.2. Buyer Power
- 3.6.3. Threat Of Substitutes
- 3.6.4. Threat Of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTEL Analysis
- 3.7.1. Political Landscape
- 3.7.2. Economic Landscape
- 3.7.3. Technology Landscape
- 3.7.4. Legal Landscape
- 3.7.5. Social Landscape
4. Business Spend Management (BSM) Software Market: By Solution, 2020-2030, USD (Million)
- 4.1. Market Overview
- 4.2. Growth & Revenue Analysis: 2021 Versus 2030
- 4.3. Market Segmentation
- 4.3.1. Procure to pay
- 4.3.2. Travel & expense management
- 4.3.3. Spend Analysis
- 4.3.4. Contract Management
- 4.3.5. Others
5. Business Spend Management (BSM) Software Market: By Enterprise, 2020-2030, USD (Million)
- 5.1. Market Overview
- 5.2. Growth & Revenue Analysis: 2021 Versus 2030
- 5.3. Market Segmentation
- 5.3.1. Large
- 5.3.2. SMEs
6. Business Spend Management (BSM) Software Market: By Deployment, 2020-2030, USD (Million)
- 6.1. Market Overview
- 6.2. Growth & Revenue Analysis: 2021 Versus 2030
- 6.3. Market Segmentation
- 6.3.1. On-cloud
- 6.3.2. On-premise
7. Business Spend Management (BSM) Software Market: By End-use, 2020-2030, USD (Million)
- 7.1. Market Overview
- 7.2. Growth & Revenue Analysis: 2021 Versus 2030
- 7.3. Market Segmentation
- 7.3.1. BFSI
- 7.3.2. IT & Telecom
- 7.3.3. Energy
- 7.3.4. Healthcare
- 7.3.5. Manufacturing
- 7.3.6. Others
8. North America Business Spend Management (BSM) Software Market, 2020-2030, USD (Million)
- 8.1. Market Overview
- 8.2. Business Spend Management (BSM) Software Market: By Solution, 2020-2030, USD (Million)
- 8.3. Business Spend Management (BSM) Software Market: By Enterprise, 2020-2030, USD (Million)
- 8.4. Business Spend Management (BSM) Software Market: By Deployment, 2020-2030, USD (Million)
- 8.5. Business Spend Management (BSM) Software Market: By End-use, 2020-2030, USD (Million)
- 8.6.Business Spend Management (BSM) Software Market: By Region, 2020-2030, USD (Million)
- 8.6.1.North America
- 8.6.1.1. U.S.
- 8.6.1.2. Canada
- 8.6.1.3. Rest of North America
- 8.6.1.North America
9. UK and European Union Business Spend Management (BSM) Software Market, 2020-2030, USD (Million)
- 9.1. Market Overview
- 9.2. Business Spend Management (BSM) Software Market: By Solution, 2020-2030, USD (Million)
- 9.3. Business Spend Management (BSM) Software Market: By Enterprise, 2020-2030, USD (Million)
- 9.4. Business Spend Management (BSM) Software Market: By Deployment, 2020-2030, USD (Million)
- 9.5. Business Spend Management (BSM) Software Market: By End-use, 2020-2030, USD (Million)
- 9.6.Business Spend Management (BSM) Software Market: By Region, 2020-2030, USD (Million)
- 9.6.1.UK and European Union
- 9.6.1.1. UK
- 9.6.1.2. Germany
- 9.6.1.3. Spain
- 9.6.1.4. Italy
- 9.6.1.5. France
- 9.6.1.6. Rest of Europe
- 9.6.1.UK and European Union
10. Asia Pacific Business Spend Management (BSM) Software Market, 2020-2030, USD (Million)
- 10.1. Market Overview
- 10.2. Business Spend Management (BSM) Software Market: By Solution, 2020-2030, USD (Million)
- 10.3. Business Spend Management (BSM) Software Market: By Enterprise, 2020-2030, USD (Million)
- 10.4. Business Spend Management (BSM) Software Market: By Deployment, 2020-2030, USD (Million)
- 10.5. Business Spend Management (BSM) Software Market: By End-use, 2020-2030, USD (Million)
- 10.6.Business Spend Management (BSM) Software Market: By Region, 2020-2030, USD (Million)
- 10.6.1.Asia Pacific
- 10.6.1.1. China
- 10.6.1.2. Japan
- 10.6.1.3. India
- 10.6.1.4. Australia
- 10.6.1.5. South Korea
- 10.6.1.6. Rest of Asia Pacific
- 10.6.1.Asia Pacific
11. Latin America Business Spend Management (BSM) Software Market, 2020-2030, USD (Million)
- 11.1. Market Overview
- 11.2. Business Spend Management (BSM) Software Market: By Solution, 2020-2030, USD (Million)
- 11.3. Business Spend Management (BSM) Software Market: By Enterprise, 2020-2030, USD (Million)
- 11.4. Business Spend Management (BSM) Software Market: By Deployment, 2020-2030, USD (Million)
- 11.5. Business Spend Management (BSM) Software Market: By End-use, 2020-2030, USD (Million)
- 11.6.Business Spend Management (BSM) Software Market: By Region, 2020-2030, USD (Million)
- 11.6.1.Latin America
- 11.6.1.1. Brazil
- 11.6.1.2. Mexico
- 11.6.1.3. Rest of Latin America
- 11.6.1.Latin America
12. Middle East and Africa Business Spend Management (BSM) Software Market, 2020-2030, USD (Million)
- 12.1. Market Overview
- 12.2. Business Spend Management (BSM) Software Market: By Solution, 2020-2030, USD (Million)
- 12.3. Business Spend Management (BSM) Software Market: By Enterprise, 2020-2030, USD (Million)
- 12.4. Business Spend Management (BSM) Software Market: By Deployment, 2020-2030, USD (Million)
- 12.5. Business Spend Management (BSM) Software Market: By End-use, 2020-2030, USD (Million)
- 12.6.Business Spend Management (BSM) Software Market: By Region, 2020-2030, USD (Million)
- 12.6.1.Middle East and Africa
- 12.6.1.1. GCC
- 12.6.1.2. Africa
- 12.6.1.3. Rest of Middle East and Africa
- 12.6.1.Middle East and Africa
13. Company Profile
- 13.1. Altergy
- 13.1.1. Company Overview
- 13.1.2. Financial Performance
- 13.1.3. Product Portfolio
- 13.1.4. Strategic Initiatives
- 13.2. Ariba Inc.
- 13.2.1. Company Overview
- 13.2.2. Financial Performance
- 13.2.3. Product Portfolio
- 13.2.4. Strategic Initiatives
- 13.3. Coupa Software Inc.
- 13.3.1. Company Overview
- 13.3.2. Financial Performance
- 13.3.3. Product Portfolio
- 13.3.4. Strategic Initiatives
- 13.4. Advanced
- 13.4.1. Company Overview
- 13.4.2. Financial Performance
- 13.4.3. Product Portfolio
- 13.4.4. Strategic Initiatives
- 13.5. Procurify
- 13.5.1. Company Overview
- 13.5.2. Financial Performance
- 13.5.3. Product Portfolio
- 13.5.4. Strategic Initiatives
- 13.6. IBM
- 13.6.1. Company Overview
- 13.6.2. Financial Performance
- 13.6.3. Product Portfolio
- 13.6.4. Strategic Initiatives
- 13.7. TRADOGRAM
- 13.7.1. Company Overview
- 13.7.2. Financial Performance
- 13.7.3. Product Portfolio
- 13.7.4. Strategic Initiatives
- 13.8. Fraxion
- 13.8.1. Company Overview
- 13.8.2. Financial Performance
- 13.8.3. Product Portfolio
- 13.8.4. Strategic Initiatives
- 13.9. SutiSoft, Inc.
- 13.9.1. Company Overview
- 13.9.2. Financial Performance
- 13.9.3. Product Portfolio
- 13.9.4. Strategic Initiatives
- 13.10. Sievo
- 13.10.1. Company Overview
- 13.10.2. Financial Performance
- 13.10.3. Product Portfolio
- 13.10.4. Strategic Initiatives
- 13.11. GEP
- 13.11.1. Company Overview
- 13.11.2. Financial Performance
- 13.11.3. Product Portfolio
- 13.11.4. Strategic Initiatives
List of Tables
- TABLE 1 Global Business Spend Management (BSM) Software Market By Solution, 2020-2030, USD (Million)
- TABLE 2 Global Business Spend Management (BSM) Software Market By Enterprise, 2020-2030, USD (Million)
- TABLE 3 Global Business Spend Management (BSM) Software Market By Deployment, 2020-2030, USD (Million)
- TABLE 4 Global Business Spend Management (BSM) Software Market By End-use, 2020-2030, USD (Million)
- TABLE 5 North America Business Spend Management (BSM) Software Market By Solution, 2020-2030, USD (Million)
- TABLE 6 North America Business Spend Management (BSM) Software Market By Enterprise, 2020-2030, USD (Million)
- TABLE 7 North America Business Spend Management (BSM) Software Market By Deployment, 2020-2030, USD (Million)
- TABLE 8 North America Business Spend Management (BSM) Software Market By End-use, 2020-2030, USD (Million)
- TABLE 9 UK and European Union Business Spend Management (BSM) Software Market By Solution, 2020-2030, USD (Million)
- TABLE 10 UK and European Union Business Spend Management (BSM) Software Market By Enterprise, 2020-2030, USD (Million)
- TABLE 11 UK and European Union Business Spend Management (BSM) Software Market By Deployment, 2020-2030, USD (Million)
- TABLE 12 UK and European Union Business Spend Management (BSM) Software Market By End-use, 2020-2030, USD (Million)
- TABLE 13 Asia Pacific Business Spend Management (BSM) Software Market By Solution, 2020-2030, USD (Million)
- TABLE 14 Asia Pacific Business Spend Management (BSM) Software Market By Enterprise, 2020-2030, USD (Million)
- TABLE 15 Asia Pacific Business Spend Management (BSM) Software Market By Deployment, 2020-2030, USD (Million)
- TABLE 16 Asia Pacific Business Spend Management (BSM) Software Market By End-use, 2020-2030, USD (Million)
- TABLE 17 Latin America Business Spend Management (BSM) Software Market By Solution, 2020-2030, USD (Million)
- TABLE 18 Latin America Business Spend Management (BSM) Software Market By Enterprise, 2020-2030, USD (Million)
- TABLE 19 Latin America Business Spend Management (BSM) Software Market By Deployment, 2020-2030, USD (Million)
- TABLE 20 Latin America Business Spend Management (BSM) Software Market By End-use, 2020-2030, USD (Million)
- TABLE 21 Middle East and Africa Business Spend Management (BSM) Software Market By Solution, 2020-2030, USD (Million)
- TABLE 22 Middle East and Africa Business Spend Management (BSM) Software Market By Enterprise, 2020-2030, USD (Million)
- TABLE 23 Middle East and Africa Business Spend Management (BSM) Software Market By Deployment, 2020-2030, USD (Million)
- TABLE 24 Middle East and Africa Business Spend Management (BSM) Software Market By End-use, 2020-2030, USD (Million)
List of Figures
- FIG. 1 Global Business Spend Management (BSM) Software Market: Market Coverage
- FIG. 2 Research Methodology and Data Sources
- FIG. 3 Market Size Estimation - Top Down & Bottom-Up Approach
- FIG. 4 Global Business Spend Management (BSM) Software Market: Quality Assurance
- FIG. 5 Global Business Spend Management (BSM) Software Market, By Solution, 2021
- FIG. 6 Global Business Spend Management (BSM) Software Market, By Enterprise, 2021
- FIG. 7 Global Business Spend Management (BSM) Software Market, By Deployment, 2021
- FIG. 8 Global Business Spend Management (BSM) Software Market, By End-use, 2021
- FIG. 9 Global Business Spend Management (BSM) Software Market, By Geography, 2021
- FIG. 10 Global Business Spend Management (BSM) Software Market, By Solution, 2021 Vs 2030, %
- FIG. 11 Global Business Spend Management (BSM) Software Market, By Enterprise, 2021 Vs 2030, %
- FIG. 12 Global Business Spend Management (BSM) Software Market, By Deployment, 2021 Vs 2030, %
- FIG. 13 Global Business Spend Management (BSM) Software Market, By End-use, 2021 Vs 2030, %
- FIG. 14 U.S. Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 15 Canada Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 16 Rest of North America Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 17 UK Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 18 Germany Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 19 Spain Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 20 Italy Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 21 France Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 22 Rest of Europe Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 23 China Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 24 Japan Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 25 India Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 26 Australia Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 27 South Korea Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 28 Rest of Asia Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 29 Brazil Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 30 Mexico Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 31 Rest of Latin America Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 32 GCC Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 33 Africa Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
- FIG. 34 Rest of Middle East and Africa Business Spend Management (BSM) Software Market (US$ Million), 2020 - 2030
