Spend Analytics Market to Reach USD $5.85 Billion by 2029 at 17.8% CAGR
The Business Research Company
The Business Research Company’s Spend Analytics Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, November 26, 2025 /EINPresswire.com/ -- What Is The Estimated Industry Size Of Spend Analytics Market?
The market size of spend analytics has seen a quick expansion in the recent years. The market is projected to rise from $2.56 billion in 2024 to $3.04 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 18.9%. Factors leading to this growth during the historic period include heightened globalization, a surge in the adoption of digital technologies, compliance to regulatory requirements, increasing demand for cost efficiency, and a greater understanding of its potential advantages.
In the coming years, the spend analytics market is predicted to experience robust expansion, with projections placing its worth at $5.85 billion in 2029, correlating to a compound annual growth rate (CAGR) of 17.8%. This projected growth during the forecast period can be credited to several key factors: the progression in artificial intelligence and machine learning, the broadened implementation of cloud-based solutions, a new focus placed on sustainability and responsible sourcing, improvements in risk management, and an uptick in the integration of Internet of Things (IoT) devices. Notable upcoming trends within this timeframe include a growing emphasis on predictive analytics, the adoption of blockchain technology for improved transparency, the rise of data-informed decision-making tools, the introduction of augmented analytics for more comprehensive insights, and an expansion in spend analysis as a service (SaaS) offerings.
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What Are The Major Factors Driving The Spend Analytics Global Market Growth?
The expansion of the retail and e-commerce industries is anticipated to drive the growth of the spend analytics market. This sector includes companies that offer products and services directly to customers via brick-and-mortar shops or online platforms, enabling transactions and product distribution. The growth in retail and e-commerce is attributed to shifts in consumer tastes, convenience, pricing benefits, and the potential for market expansion. Spend analytics in these sectors involves examining purchase data to finesse sourcing strategies, better supplier relationships, and improve cost efficiency throughout the supply chain. For example, in February 2024, the United States Census Bureau, a US government agency, reported that in 2023, total e-commerce sales hit an estimated $1,118.7 billion, which is a 7.6% increase from 2022. Consequently, the upward trend in the retail and e-commerce industries is fueling the growth of the spend analytics market.
Who Are The Leading Companies In The Spend Analytics Market?
Major players in the Spend Analytics include:
• International Business Machines Corporation (IBM)
• Oracle Corporation
• SAP SE
• Genpact
• SAS Institute Inc.
• GEP
• Coupa Software Inc.
• Anaplan Inc.
• Icertis Inc.
• Zycus Inc.
What Are The Prominent Trends In The Spend Analytics Market?
Prominent firms in the spend analytics market are creating strides with innovative offerings such as advanced spend analytics and vendor management features, aiming to secure a competitive advantage in the industry. These features involve a systematic method of compiling, studying, and interpreting expenditure data to refine procurement plans, boost supplier relations, and amplify overall organization productivity. For example, in June 2024, Airbase, Inc., a fintech firm based in the U.S., introduced advanced spend analytics and vendor management tools, specializing in providing powerful tools to aid organizations in enhancing their procurement procedures. The spend analytics function offers comprehensive insights into expenditure trends, enabling businesses to discover strategic findings to boost efficiency and cut costs. Simultaneously, the vendor management function streamlines the integration process, automates invoice handling, and augments risk management, thus fortifying relationships with suppliers.
What Are The Primary Segments Covered In The Global Spend Analytics Market Report?
The spend analytics market covered in this report is segmented –
1) By Type: Software, Service
2) By Analysis: Descriptive, Prescriptive, Predictive
3) By Application: Financial Management, Risk Management, Governance And Compliance Management, Supplier Sourcing And Performance Management, Demand And Supply Forecasting, Other Applications
4) By End-User Industry: Manufacturing, Supply Chain And Logistic, Retail, Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecommunication, Education, Healthcare, Other End-User Industries
Subsegments:
1) By Software: On-Premise Software, Cloud-Based Software
2) By Service: Consulting Services, Implementation Services, Support And Maintenance Services
View the full spend analytics market report:
https://www.thebusinessresearchcompany.com/report/spend-analytics-global-market-report
Which Region Is Forecasted To Grow The Fastest In The Spend Analytics Industry?
In 2024, North America dominated the spend analytics market. Asia-Pacific, however, is projected to witness the fastest growth in the upcoming years. The report on the spend analytics market features seven regions, namely Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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