The Business Research Company’s Retail Sourcing And Procurement Market Report 2022: Market Size, Trends, And Forecast To 2026
LONDON, GREATER LONDON, UK, May 25, 2022 /EINPresswire.com/ — According to ‘Retail Sourcing And Procurement Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the retail sourcing and procurement market size is expected to grow to $7.16 billion in 2026 at a CAGR of 13.3%. According to the retail sourcing and procurement market analysis, the increasing digitalization is expected to propel the growth of the market going forward.
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The retail sourcing and procurement market consists of sales of retail sourcing and procurement services by entities (organizations, sole traders, and partnerships) that refer to services that are used by organizations to evaluate and engage suppliers in the acquisition of products and services. Retail procurement involves identifying and purchasing the products which retailers want to sell. Retail sourcing and procurement include different types of technologies such as mobile, automated, and cloud technology. These technologies help us in activities like insourcing, outsourcing, and global and strategic sourcing. Retail sourcing and procurement make things easier for supplier and contract management.
Global Retail Sourcing And Procurement Market Trends
Strategic collaborations have emerged as a key trend gaining popularity in the retail sourcing and procurement market. According to the retail sourcing and procurement market research, companies are undergoing partnerships to sustain their position in the market. For instance, in April 2021, IBM, a US-based company operating in retail sourcing and procurement collaborated with Celonis. This collaboration agreement enables colonies to offer their process mining software. This procurement software analyzes how workflows through an organization and recommends more efficient ways to complete the repeated tasks. Celonis is a Germany-based company that specializes in retail sourcing and procurement. Furthermore, in June 2019 Infor, a US-based cloud company that provides software for the retail sourcing and procurement market entered into a partnership agreement with Linklogis. Through this partnership, the two firms aim to build the Infor Nexus platform in order to provide better financial service solutions. This is intended to strengthen upstream supply networks of small and medium-sized providers. Linklogis is a China-based company supply chain finance technology solution provider.
Global Retail Sourcing And Procurement Market Segments
The global retail sourcing and procurement market is segmented:
By Solution: Strategic Sourcing, Supplier Management, Contract Management, Procure-to-Pay, Spend Analysis
By Service: Implementation, Consulting, Training and Support
By Deployment: On-Premise, Hybrid, Cloud
By End-User: Small and Medium Enterprises (SMEs), Large Enterprises
By Geography: The global retail sourcing and procurement market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.
Read more on the global retail sourcing and procurement market report here
Retail Sourcing And Procurement Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides retail sourcing and procurement global market overviews, analyzes and forecasts market size and growth for the retail sourcing and procurement market, retail sourcing and procurement global market share, retail sourcing and procurement global market segments and geographies, retail sourcing and procurement market players, retail sourcing and procurement global market leading competitor revenues, profiles and market shares. The retail sourcing and procurement market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Retail Sourcing And Procurement Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: SAP SE, Oracle, IBM Corporation, Epicor, Proactis Holdings Plc., Zycus Inc., Blue Yonder Group Inc., Basware, Koch Industries Inc., Ivalua Inc, and GT Nexus.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
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