Global Vendor Management Software Market Size, Share Analysis by 2027

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Vendor Management Software Market to 2027 - Global Analysis and Forecasts By Deployment Mode (Cloud, On- premise); Enterprise Size (Large Enterprises, SMEs); Industry Vertical (Retail, Manufacturing, BFSI, IT and Telecom, Others)

Publication Month: Nov 2019 | Report Code: TIPRE00007305 | No. of Pages: 164 | Category: Technology, Media and Telecommunications | Status: Published

The global vendor management software market accounted to US$ 4,389.2 Mn in 2018 and is expected to grow at a CAGR of 12.4% during the forecast period 2019 – 2027, to account to US$ 12,295.8 Mn by 2027.

Vendor Management Software market is led by the North American region in 2018. North America led the landing global vendor management software market with more than 36% share, followed by APAC and Europe region. The presence of well developed countries such as the US and Canada and presence of large IT companies are two of the major factors responsible for the growth of vendor management software market in this region. The US is a technologically developed country; hence, the adoption of advanced technology is high across various sectors of the country. The country has the presence of diverse industries and is one of the world’s leading high-technology innovators. The presence of a large number of well-established players from various industries is a significant factor that is driving the growth of vendor management software in the country. The US holds the dominant share in the vendor management software market, and it is expected to continue its dominance during the forecast period. Consequently, presenting tremendous opportunities for the rise in the business of vendor management software market players.

Lucrative Regional Vendor Management Software Markets


Vendor Management Software Markets geographical representation

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Market Insights

High Inclination Toward Adoption of Solutions to Enhance Operational and Supply Chain Efficiencies

The increasing trend of the adoption of hi-tech solutions across various enterprises to streamline business process is boosting the implementation of the vendor management systems. The organizations are focusing more on automating their business process to attain increased efficiencies at reduced costs. A vendor management system is a web-based tool used for managing vendor-related information and organization activities by ensuring amended efficiency, to attain long-term growth in a cost-effective manner. The implementation of vendor management solutions enables the organizations to take appropriate measures for reducing potential risks related to vendors, controlling cost, deriving value from vendors, and ensuring excellent service deliverability in the long run, this increased demand is expected to fuel the growth of global vendor management software market.

Concerns pertaining to data privacy and security

The world is witnessing rising number of cyber-attacks with the constantly upgrading connectivity technologies. Ever-increasing threats as well as evolving industry and government compliances and regulations are imposing organizations to spend heavily on their security infrastructure. Organizations are becoming progressively alert to cyber-threats. Cybersecurity has already become a severe issue across several businesses due to proliferation of the online world becomes an underlying component of the physical world. In the recent years, cyber-attacks have hampered the ease of doing businesses for the BFSI, media and entertainment, healthcare, and government organizations may hinder the growth of the vendor management software market.

Deployment Mode Segment Insights

The vendor management software market on the basis of deployment mode is segmented into on-premise and cloud. . The on-premise vendor management software is installed and runs on the organization’s premises. However, cloud-based solutions can be remotely accessed online and are installed on the online server. The on-premise deployment solution costs more and is generally adopted by companies that do not intend to share data with other organizations. However, cloud deployment is gaining popularity as it offers cost-efficient solutions with various benefits such as greater flexibility, on-demand scalability, and low cost of implementation. Thus, anticipated to create significant market space for vendor management software market players operation worldwide.  

Enterprise Size Segment Insights

The vendor management software market on the basis of enterprise size is segmented into SMEs and large enterprises. The dependence of large enterprises on various, high complexity of systems that large businesses control, and increasing demand for efficiently managing solutions from the centralized dashboard are the major factors that are expected to drive the revenue generation of vendor management solutions across large enterprises are the major factor driving the revenue generation of the solution segment in the vendor management solution market.

Rest of APAC Vendor Management Software Market by Industry Vertical

Vendor Management Software Market by Industry Vertical in APAC

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Strategic Insights

Report Coverage - Vendor Management Software Market
Report CoverageDetails
Market Size Value inUS$ 4,389.2 Million in 2018
Market Size Value byUS$ 12,295.8 Million by 2027
Growth rateCAGR of 12.4% from 2019-2027
Forecast Period2019-2027
Base Year2019
No. of Pages164
No. of Tables84
No. of Charts & Figures77
Historical data availableYes
Segments coveredDeployment Mode ; Enterprise Size ; Industry Vertical
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Market Initiatives was observed as the most adopted strategy in global vendor management software market. Few of the recent market initiatives are listed below:

2019:Coupa announced the expansion of its relationship with Amazon Web Services (AWS) to focus more on controlling over their IT spend.
2019:Ncontracts signed a joint venture with The Community Bankers Association of Illinois (CBAI), for assuring the CBAI member banks to rely on Ncontracts teammate with risk and vendor management, cybersecurity assessments, business continuity planning, contract management as well as findings management.
2018:Intelex Technologies announced its partnership with Liderança Group, to fill the essential gaps present in ESHQ training, by removing compliance-paralysis for companies for better processes as well as more profitable outcomes.
2017:SalesWarp’s Omnichannel Order Management and Warehouse solution selected by Active Ride Shop, for improving efficiency and providing a better experience for its Active Ride Shop customers.

GLOBAL VENDOR MANAGEMENT SOFTWARE MARKET SEGMENTATION

Global Vendor Management Software Market – By Deployment Mode

  • On-Premise
  • Cloud

Global Vendor Management Software Market – By Enterprise Size

  • SMEs
  • Large Enterprises

Global Vendor Management Software Market – By Industry Vertical

  • Retail
  • Manufacturing
  • BFSI
  • IT and Telecom
  • Others

Global Vendor Management Software Market - By Geography

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Russia
    • UK
    • Rest of Europe
  • Asia Pacific (APAC)

    • Australia
    • China
    • India
    • Japan
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • UAE
    • Saudi Arabia
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

Global Vendor Management Software Market - Company Profiles

  • Coupa Software Inc.
  • Gatekeeper (Cinergy Technology Limited)
  • HICX Solutions Ltd.
  • IBM Corporation
  • Intelex Technologies Inc.
  • LogicManager, Inc.
  • MasterControl Inc.
  • Ncontracts
  • SalesWarp
  • SAP SE

The List of Companies

  1. Coupa Software Inc.
  2. Gatekeeper (Cinergy Technology Limited)
  3. HICX Solutions Ltd.
  4. IBM Corporation
  5. Intelex Technologies Inc.
  6. LogicManager, Inc.
  7. MasterControl Inc.
  8. Ncontracts
  9. SalesWarp
  10. SAP SE
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