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Source to Pay Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 140 Pages
SKU # FOB19260755

Description

Source to Pay Market



Growth Factors of Source to Pay Market

The source to pay market size was valued at USD 2.07 billion in 2022, and the market is now projected to grow from USD 3.19 billion in 2023 to USD 70.72 billion by 2030, exhibiting a CAGR of 55.7% during the forecast period of 2023-2030.

The COVID-19 pandemic propelled the source to pay market growth. The enhanced growth has been caused by the rising requirement for maintaining efficient supplier relationships. The pandemic intensely influenced changing trades in navigating their procurement processes. The merger of remote work dynamics and supply chain disruptions amplified the need for source-to-pay (S2P) software to sustain operations. The budget constraints and economic uncertainties shifted the focus toward cost savings and efficient spending has promoted associations and institutions to accept S2P software.

The source to pay market share globally has expanded because of the rising implementation of digital transformation initiatives. Businesses across various sectors are acquainted with the advantages of streamlining their procurement processes, and source-to-pay software increases demand for the system. The digital revolution entails the incorporation of advanced technologies such as computerization, and data-driven decision-making into various aspects of the procurement lifecycle. S2P software supports impeccably with this trail by offering end-to-end automation, efficient data management, and real-time visibility into sourcing actions.

The trend is raising focus on supplier collaboration and relationship management that is amplifying demand for the software. Organizations recognize that building robust and transparent joint ventures with dealers is imperative for achieving effective procurement outcomes. S2P software solutions are evolving to provide advanced features that facilitate faultless communication, cooperation, and engagement between buyers and sellers.

Comprehensive Analysis of Source to Pay Market

The source to pay market and information & communication technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the information & communication technology industry. These segmentations are methodically segregated by types of enterprise type and end-user. The enterprise type involves SMEs and large enterprises. The end-users are healthcare and life sciences, IT and telecommunication, consumer goods and retail, manufacturing, BFSI, automotive, energy and utilities, and others.

The North American region is conducive to the global source to pay market, leading to a recall of USD 0.94 billion owing to technological advancements, economic strength, regulatory demands, contractor range, and a strong focus on optimizing procuring activities for cost-savings and strategic advantage.

The top players in the market play a crucial role in the information & communication technology industry assuring industrial prospectus growth and setting market standards. These players are GEP (U.S.), IBM Corporation (U.S.), TATA Consultancy Services (India), Genpact (U.S.), SAP SE (Germany), Coupa Software Inc.(U.S.), Ivalua Inc. (U.S.), Zycus Inc. (U.S.), Corcentric, Inc. (U.S.), and Basware (Finland), Inc. (U.S.), these market players provide a fair-playing competitive landscape.

In April 2023, Delek announced their partnership with Coupa and the Shelby Group to launch an automated source-to-pay solution. The aim of this partnership is to offer benefits to their strategic supply partners such as reduction of paper transition documents, automated payments for invoices submission and greater control over the complete order management process.

Segmentation Table

Global Source to Pay Market Scope

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 55.7% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Enterprise Type

Large Enterprises

Small and Medium Enterprises (SMEs)

By End-user

BFSI

Consumer Goods and Retail

Healthcare and Life Sciences

Manufacturing and Automotive

IT and Telecommunication

Energy and Utilities

Others

By Region

North America (By Enterprise Type, By End-user, and By Country)
  • U.S.
  • Canada
  • Mexico
Europe (By Enterprise Type, By End-user, and By Country)
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Benelux
  • Nordics
  • Rest of Europe
Asia Pacific (By Enterprise Type, By End-user, and By Country)
  • China
  • Japan
  • India
  • South Korea
  • ASEAN
  • Oceania
  • Rest of Asia Pacific
Rest of the World (By Enterprise Type, By End-user, and By Region)
  • Middle East & Africa
  • South America


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Table of Contents

140 Pages
1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of COVID-19
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Global Source to Pay Key Players Market Share/Ranking, 2022
5. Global Source to Pay Market Size Estimates and Forecasts, By Segments, 2019-2030
5.1. Key Findings
5.2. By Enterprise Type (USD)
5.2.1. Large Enterprises
5.2.2. Small and Medium Enterprises (SMEs)
5.3. By End-user (USD)
5.3.1. BFSI
5.3.2. Consumer Goods and Retail
5.3.3. Healthcare and Life Sciences
5.3.4. Manufacturing
5.3.5. Automotive
5.3.6. IT and Telecommunication
5.3.7. Energy and Utilities
5.3.8. Others (Media and Entertainment, Oil and Gas, etc.)
5.4. By Region (USD)
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Rest of the World
6. North America Source to Pay Market Size Estimates and Forecasts, By Segments, 2019-2030
6.1. Key Findings
6.2. By Enterprise Type (USD)
6.2.1. Large Enterprises
6.2.2. Small and Medium Enterprises (SMEs)
6.3. By End-user (USD)
6.3.1. BFSI
6.3.2. Consumer Goods and Retail
6.3.3. Healthcare and Life Sciences
6.3.4. Manufacturing
6.3.5. Automotive
6.3.6. IT and Telecommunication
6.3.7. Energy and Utilities
6.3.8. Others (Media and Entertainment, Oil and Gas, etc.)
6.4. By Country (USD)
6.4.1. United States
6.4.2. Canada
6.4.3. Mexico
7. Europe Source to Pay Market Size Estimates and Forecasts, By Segments, 2019-2030
7.1. Key Findings
7.2. By Enterprise Type (USD)
7.2.1. Large Enterprises
7.2.2. Small and Medium Enterprises (SMEs)
7.3. By End-user (USD)
7.3.1. BFSI
7.3.2. Consumer Goods and Retail
7.3.3. Healthcare and Life Sciences
7.3.4. Manufacturing
7.3.5. Automotive
7.3.6. IT and Telecommunication
7.3.7. Energy and Utilities
7.3.8. Others (Media and Entertainment, Oil and Gas, etc.)
7.4. By Country (USD)
7.4.1. United Kingdom
7.4.2. Germany
7.4.3. France
7.4.4. Italy
7.4.5. Spain
7.4.6. Russia
7.4.7. Benelux
7.4.8. Nordics
7.4.9. Rest of Europe
8. Asia Pacific Source to Pay Market Size Estimates and Forecasts, By Segments, 2019-2030
8.1. Key Findings
8.2. By Enterprise Type (USD)
8.2.1. Large Enterprises
8.2.2. Small and Medium Enterprises (SMEs)
8.3. By End-user (USD)
8.3.1. BFSI
8.3.2. Consumer Goods and Retail
8.3.3. Healthcare and Life Sciences
8.3.4. Manufacturing
8.3.5. Automotive
8.3.6. IT and Telecommunication
8.3.7. Energy and Utilities
8.3.8. Others (Media and Entertainment, Oil and Gas, etc.)
8.4. By Country (USD)
8.4.1. China
8.4.2. India
8.4.3. Japan
8.4.4. South Korea
8.4.5. ASEAN
8.4.6. Oceania
8.4.7. Rest of Asia Pacific
9. Rest of the World Source to Pay Market Size Estimates and Forecasts, By Segments, 2019-2030
9.1. Key Findings
9.2. By Enterprise Type (USD)
9.2.1. Large Enterprises
9.2.2. Small and Medium Enterprises (SMEs)
9.3. By End-user (USD)
9.3.1. BFSI
9.3.2. Consumer Goods and Retail
9.3.3. Healthcare and Life Sciences
9.3.4. Manufacturing
9.3.5. Automotive
9.3.6. IT and Telecommunication
9.3.7. Energy and Utilities
9.3.8. Others (Media and Entertainment, Oil and Gas, etc.)
9.4. By Region (USD)
9.4.1. South America
9.4.2. Middle East and Africa
10. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
10.1. GEP
10.1.1. Overview
10.1.1.1. Key Management
10.1.1.2. Headquarters
10.1.1.3. Offerings/Business Segments
10.1.2. Key Details (Key details are consolidated data and not product/service specific)
10.1.2.1. Employee Size
10.1.2.2. Past and Current Revenue
10.1.2.3. Geographical Share
10.1.2.4. Business Segment Share
10.1.2.5. Recent Developments
10.2. IBM Corporation
10.2.1. Overview
10.2.1.1. Key Management
10.2.1.2. Headquarters
10.2.1.3. Offerings/Business Segments
10.2.2. Key Details (Key details are consolidated data and not product/service specific)
10.2.2.1. Employee Size
10.2.2.2. Past and Current Revenue
10.2.2.3. Geographical Share
10.2.2.4. Business Segment Share
10.2.2.5. Recent Developments
10.3. Genpact
10.3.1. Overview
10.3.1.1. Key Management
10.3.1.2. Headquarters
10.3.1.3. Offerings/Business Segments
10.3.2. Key Details (Key details are consolidated data and not product/service specific)
10.3.2.1. Employee Size
10.3.2.2. Past and Current Revenue
10.3.2.3. Geographical Share
10.3.2.4. Business Segment Share
10.3.2.5. Recent Developments
10.4. TATA Consultancy Services
10.4.1. Overview
10.4.1.1. Key Management
10.4.1.2. Headquarters
10.4.1.3. Offerings/Business Segments
10.4.2. Key Details (Key details are consolidated data and not product/service specific)
10.4.2.1. Employee Size
10.4.2.2. Past and Current Revenue
10.4.2.3. Geographical Share
10.4.2.4. Business Segment Share
10.4.2.5. Recent Developments
10.5. SAP SE
10.5.1. Overview
10.5.1.1. Key Management
10.5.1.2. Headquarters
10.5.1.3. Offerings/Business Segments
10.5.2. Key Details (Key details are consolidated data and not product/service specific)
10.5.2.1. Employee Size
10.5.2.2. Past and Current Revenue
10.5.2.3. Geographical Share
10.5.2.4. Business Segment Share
10.5.2.5. Recent Developments
10.6. Coupa Software Inc.
10.6.1. Overview
10.6.1.1. Key Management
10.6.1.2. Headquarters
10.6.1.3. Offerings/Business Segments
10.6.2. Key Details (Key details are consolidated data and not product/service specific)
10.6.2.1. Employee Size
10.6.2.2. Past and Current Revenue
10.6.2.3. Geographical Share
10.6.2.4. Business Segment Share
10.6.2.5. Recent Developments
10.7. Ivalua Inc.
10.7.1. Overview
10.7.1.1. Key Management
10.7.1.2. Headquarters
10.7.1.3. Offerings/Business Segments
10.7.2. Key Details (Key details are consolidated data and not product/service specific)
10.7.2.1. Employee Size
10.7.2.2. Past and Current Revenue
10.7.2.3. Geographical Share
10.7.2.4. Business Segment Share
10.7.2.5. Recent Developments
10.8. Zycus Inc.
10.8.1. Overview
10.8.1.1. Key Management
10.8.1.2. Headquarters
10.8.1.3. Offerings/Business Segments
10.8.2. Key Details (Key details are consolidated data and not product/service specific)
10.8.2.1. Employee Size
10.8.2.2. Past and Current Revenue
10.8.2.3. Geographical Share
10.8.2.4. Business Segment Share
10.8.2.5. Recent Developments
10.9. Corcentric, Inc.
10.9.1. Overview
10.9.1.1. Key Management
10.9.1.2. Headquarters
10.9.1.3. Offerings/Business Segments
10.9.2. Key Details (Key details are consolidated data and not product/service specific)
10.9.2.1. Employee Size
10.9.2.2. Past and Current Revenue
10.9.2.3. Geographical Share
10.9.2.4. Business Segment Share
10.9.2.5. Recent Developments
10.10. Basware
10.10.1. Overview
10.10.1.1. Key Management
10.10.1.2. Headquarters
10.10.1.3. Offerings/Business Segments
10.10.2. Key Details (Key details are consolidated data and not product/service specific)
10.10.2.1. Employee Size
10.10.2.2. Past and Current Revenue
10.10.2.3. Geographical Share
10.10.2.4. Business Segment Share
10.10.2.5. Recent Developments
11. Key Takeaways

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