Global Supplier Relationship Management Software Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Supplier Relationship Management Software provides real-time data about different aspects of Supply chain management within an organization including contacts allocated to a certain supplier, and vendor requests for quote processing. This software facilitates organizations in maintaining long-term partnerships with their suppliers. Supplier relationship management software also helps in supplier evaluation and onboarding, as well as in tracking and assessment of supplier performance. The rising expansion of global supply chain management market and growing digitization across different industries as well as strategic initiatives from leading market players are key factors accelerating the market growth.
According to Statista - in 2019, the global Enterprise Resource Planning (ERP) software market was valued at USD 94 billion, and the market is projected to grow to USD 100.68 billion by 2025. Moreover, as per Statista - in 2020, the global supply chain management market was estimated at USD 15.85 billion, and the market is projected to reach USD 31 billion by 2026. Also, the rising advancements in ERP Solutions and increasing demand for SaaS based solutions would create lucrative opportunities for the market over the forecast period. However, high deployment costs associated with SRM Software and presence of open-source vendors impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Supplier Relationship Management Software Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of revenue owing to factors such as presence of leading market players as well as growing digitization across different industries in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising logistics and transportation sector coupled with growing IT infrastructure in the region.
Major market players included in this report are:
JDA Software Group, Inc.
Intelex Technologies Inc.
Epicor Software Corporation
DXC Technology Company
Recent Developments in the Market:
In June 2022, Zycus entered in a multiyear agreement with Swissport International Ltd. a global leader in airport ground services and air cargo handling. Under this partnership, Zycus would offer its AI-powered Source-to-Pay technology solution to improve complete S2P cycle time of the company. This agreement would enable the company to expand its presence in European market.
In June 2022, Texas, USA based Epicor, a global leader of industry-specific enterprise software acquired Data Interchange, a UK-based provider of Electronic Data Interchange (EDI) cloud technologies and managed services. This acquisition would enable Epicor to expand its reach in the European market.
Global Supplier Relationship Management Software Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Deployment Mode, Enterprise Size, End-Use Industry, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Deployment Mode:
By Enterprise Size:
Small and Medium-sized Enterprises
By End-Use Industry:
Transportation and Logistics
Rest of the World