Supplier Relationship Management Software Market

Supplier Relationship Management Software Market by Applications (Manufacturing, Retail, Telecom Services, Wholesale/Distribution, Transportation & Logistics, Government, and Financial) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-476
  • Author: Growth Market Reports
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  • No. Of Pages: 178
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The global supplier relationship management (SRM) software market is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing demand for solutions that can assist in real-time communication with suppliers. Moreover, rising focus toward strategic sourcing and efficient management of the supplies from procurement service providers is propelling the market growth.

Supplier Relationship Management Software Market Key Takeaways

SRM is the process of evaluating the vendors that supply the required goods or services to the organizations. In this process, the organization can determine the importance of supplier in its success and develop strategies to improve their relationship with them. Thus, to manage the supply chain, SRM software is deployed by supply chain professionals or vendors who deal with procumbent service providers.

The primary purpose of the SRM software is to optimize the workflow and improve the relationship with an organization and its suppliers. It aids in reducing the organization’s risk and increase its penetration in the market, which helps to improve the delivery process with the supplier. Companies that deployed SRM software are seen improvement in their service quality, cost efficiency of the services, and innovation. This software offers real-time data about the contracts signed to the particular vendor, list of approved or potential vendors, and requests of quote processing from vendors.

SRM software analyzes the performance of each vendor and compares them in terms of discounts provided and their contribution in the success of organization. Additionally, it continuously monitors the supplier/vendor by well-defined performance metrics. Major SRM software companies uses Software-as-a-Solution (SaaS) solution to enhance the efficiency and reduce the costs involved. The deployment of this solution helps in handling and routing the request to the right personnel. Moreover, it provides access to the vendor’s pricing history and rebates, which ultimately generate high ROI on the SRM software.

Market Trends, Drivers, Restraints, and Opportunities

  • Growing awareness about benefits of SRM software such as high return on procurement investment, easy access to the market, and improved supply chain efficiency is anticipated to propel the market growth.
  • Rising demand for real-time communication between organization and supplier is propelling the deployment of SRM software across the globe.
  • Lack of ERP capability solutions, rising number of open-source vendors, and absence of cross-functional collaboration are key challenges that can hinder the growth of the market.
  • The COVID-19 pandemic had disrupted the supply-chain activities owing to the imposition of lockdown on the manufacturing facilities. This, in turn, has negatively impacted the growth of the market. However, the market is quickly recovering, which is expected to help the market to return pre-COVID level growth.
  • Increasing focus of organization to reduce the supply-chain vulnerabilities is anticipated to create remunerative opportunities for the market during the forecast period.

 

Scope of the Report

The report on the global supplier relationship management (SRM) market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Supplier Relationship Management Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Applications (Manufacturing, Retail, Telecom Services, Wholesale/Distribution, Transportation & Logistics, Government, and Financial)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

SAP AG, JDA Software Group Inc.,Neocase Software, Intelex Technologies, Iasta Inc., Oracle Corp., Epicor Software Corp., Whiztec Software, Zycus Inc., Ariba Inc., Computer Sciences Corp. (CSC), and Biznet Solutions Ltd.


Supplier Relationship Management (SRM) Software Market Segment Insights

Retail segment to account for a large market share
Based on applications, the market is segmented into manufacturing, retail, telecom services, wholesale/distribution, transportation & logistics, government, and financial. The retail segment is anticipated to account for a large market share owing to the increasing number of wholesalers and distributors in the emerging economies such as India and China. This, in turn, has encouraged retailers to deploy SRM software to manage their vendors. Moreover, the growing awareness about SRM software benefits such as easy access to the vendors pricing history and product quality details is spurring the growth of the market segment.

Supplier Relationship Management Software Market By Applications

The market in Asia Pacific to exhibit a high CAGR
On the basis of regions, the global supplier relationship management market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for a significant market share owing to early adoption of cloud technology, which in turn, has allowed the employees to access the software remotely. Moreover, the presence of major vendors is driving the regional market growth. On the other hand, the market in Asia Pacific is anticipated to exhibit a high CAGR owing to growing awareness about SRM software in countries such as India, Japan, China, and Singapore. Growing need of organizations to improve the supply-chain activities and optimize the cost of delivery are key factors boosting the adoption of SRM software in this region. However, the market in Middle East & Africa is expected to grow at a moderate rate owing to lack of awareness and less number of vendors.

 Supplier Relationship Management Software Market By Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Supplier Relationship Management Software Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Supplier Relationship Management Software Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Supplier Relationship Management Software Market - Supply Chain
  4.5. Global Supplier Relationship Management Software Market Forecast
     4.5.1. Supplier Relationship Management Software Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Supplier Relationship Management Software Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Supplier Relationship Management Software Market Absolute $ Opportunity
5. Global Supplier Relationship Management Software Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Supplier Relationship Management Software Market Size and Volume Forecast by Applications
     5.3.1. Manufacturing
     5.3.2. Retail
     5.3.3. Telecom Services
     5.3.4. Wholesale/Distribution
     5.3.5. Transportation & Logistics
     5.3.6. Government
     5.3.7. Financial
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Supplier Relationship Management Software Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Supplier Relationship Management Software Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Supplier Relationship Management Software Demand Share Forecast, 2019-2026
7. North America Supplier Relationship Management Software Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Supplier Relationship Management Software Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Supplier Relationship Management Software Market Size and Volume Forecast by Applications
     7.4.1. Manufacturing
     7.4.2. Retail
     7.4.3. Telecom Services
     7.4.4. Wholesale/Distribution
     7.4.5. Transportation & Logistics
     7.4.6. Government
     7.4.7. Financial
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Supplier Relationship Management Software Demand Share Forecast, 2019-2026
8. Latin America Supplier Relationship Management Software Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Supplier Relationship Management Software Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Supplier Relationship Management Software Market Size and Volume Forecast by Applications
     8.4.1. Manufacturing
     8.4.2. Retail
     8.4.3. Telecom Services
     8.4.4. Wholesale/Distribution
     8.4.5. Transportation & Logistics
     8.4.6. Government
     8.4.7. Financial
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Supplier Relationship Management Software Demand Share Forecast, 2019-2026
9. Europe Supplier Relationship Management Software Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Supplier Relationship Management Software Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Supplier Relationship Management Software Market Size and Volume Forecast by Applications
     9.4.1. Manufacturing
     9.4.2. Retail
     9.4.3. Telecom Services
     9.4.4. Wholesale/Distribution
     9.4.5. Transportation & Logistics
     9.4.6. Government
     9.4.7. Financial
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Supplier Relationship Management Software Demand Share Forecast, 2019-2026
10. Asia Pacific Supplier Relationship Management Software Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Supplier Relationship Management Software Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Supplier Relationship Management Software Market Size and Volume Forecast by Applications
     10.4.1. Manufacturing
     10.4.2. Retail
     10.4.3. Telecom Services
     10.4.4. Wholesale/Distribution
     10.4.5. Transportation & Logistics
     10.4.6. Government
     10.4.7. Financial
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Supplier Relationship Management Software Demand Share Forecast, 2019-2026
11. Middle East & Africa Supplier Relationship Management Software Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Supplier Relationship Management Software Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Supplier Relationship Management Software Market Size and Volume Forecast by Applications
     11.4.1. Manufacturing
     11.4.2. Retail
     11.4.3. Telecom Services
     11.4.4. Wholesale/Distribution
     11.4.5. Transportation & Logistics
     11.4.6. Government
     11.4.7. Financial
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Supplier Relationship Management Software Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Supplier Relationship Management Software Market: Market Share Analysis
  12.2. Supplier Relationship Management Software Distributors and Customers
  12.3. Supplier Relationship Management Software Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. SAP AG
     12.4.2. JDA Software Group Inc.
     12.4.3. Neocase Software
     12.4.4. Intelex Technologies
     12.4.5. Iasta Inc.
     12.4.6. Oracle Corp.
     12.4.7. Epicor Software Corp.
     12.4.8. Whiztec Software
     12.4.9. Zycus Inc.
     12.4.10. Ariba Inc.
     12.4.11. Computer Sciences Corp
Segments Covered in the Report
The global supplier relationship management (SRM) market has been segmented on the basis of

Applications
  • Manufacturing
  • Retail
  • Telecom Services
  • Wholesale/Distribution
  • Transportation & Logistics
  • Government
  • Financial
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • SAP AG
  • JDA Software Group Inc.
  • Neocase Software
  • Intelex Technologies
  • Iasta Inc.
  • Oracle Corp.
  • Epicor Software Corp.
  • Whiztec Software
  • Zycus Inc.
  • Ariba Inc.
  • Computer Sciences Corp. (CSC)
  • Biznet Solutions Ltd.

The major players of the market are SAP AG, JDA Software Group Inc., Neocase Software, Intelex Technologies, Iasta Inc., Oracle Corp., Epicor Software Corp., Whiztec Software, Zycus Inc., Ariba Inc., Computer Sciences Corp. (CSC), and Biznet Solutions Ltd.

Companies are focusing on integrating additional features that can benefit the organization and their relationship with suppliers. Moreover, they are engaging in strategies such as partnerships, collaborations, and agreements to expand their market share.

 Supplier Relationship Management Software Market By Key Players

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