Global Supplier Relationship Management (SRM) Software Market Size Was Valued at USD 12.24 Billion in 2022, and is Projected to Reach USD 28.89 Billion by 2030, Growing at a CAGR of 11.33% From 2023-2030.

Supplier Relationship Management (SRM) software is a digital platform designed to optimize the management of interactions between a company and its suppliers. It facilitates the consolidation of supplier information, fosters effective communication, monitors supplier performance, and enables efficient collaboration throughout the procurement process. By enhancing supplier relationships, improving operational efficiency, and optimizing procurement processes, SRM software helps organizations achieve better outcomes in their supply chain management efforts. Its core function revolves around optimizing the management of supplier relationships throughout the procurement lifecycle.

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Top Key Players of Supplier Relationship Management (SRM) Software Market:

SAP Ariba (United States), Coupa Software (United States), Oracle Corporation (United States), Jaggaer (United States), Ivalua Inc. (United States), GEP Worldwide (United States), Zycus Inc. (United States), IBM Corporation (United States), Tradeshift (United States), Epicor Software Corporation (United States), BirchStreet Systems (United States), Concord (United States), Icertis (United States), Exela Technologies (United States), Per Angusta (France), SynerTrade SA (France), Basware Corporation (Finland), Proactis Holdings (UK), Gatekeeper (UK), Pool4Tool (Austria), and Other Major Players

The latest research on the Supplier relationship management (SRM) software market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the Supplier relationship management (SRM) software industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter's five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Supplier relationship management (SRM) software market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind: to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.

Supplier Relationship Management (SRM) Software Market Trends:

Increasing Compliance and Regulatory Needs

The market for supplier relationship management (SRM) software is growing as a result of the increase in compliance and regulatory requirements. Businesses are under increasing pressure to maintain conformity to various standards and rules governing supplier relations and procurement procedures, as regulatory frameworks across industries become more stringent. SRM software shows up as a crucial tool for navigating these complex environments, providing features to provide thorough audit trails, track relevant operations, and facilitate compliance.

SRM software is becoming more and more in demand as supply chain operations place an increasing emphasis on accountability and transparency. Companies are required to demonstrate sustainable procurement methods, ethical sourcing methods, and adherence to labor and environmental laws. SRM software provides

Supplier Relationship Management (SRM) Software Market Segmentation:

By Deployment Mode

• On-premise
• Cloud

By Enterprise Size

• Large Enterprise
• Small and Medium-sized Large Enterprises

By Industry Vertical

• Manufacturing
• Retail
• Automotive
• Transportation & Logistics
• Telecom
• BFSI

By Region

• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

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Key Benefits of the Supplier Relationship Management (SRM) Software Market Analysis:

• Market Drivers and Limiting Factors: Detailed analysis of factors influencing market growth and potential barriers to expansion.

• Micro-level Analysis: Examination of market dynamics based on product types, end-user applications, and geographical regions.

• Porter's Five Forces Model: In-depth assessment of market competitiveness, including buyer and supplier power, threat of new entrants and substitutes, and competition among key players.

• Value Chain Analysis: Clear understanding of the Supplier Relationship Management (SRM) software market's value chain, highlighting key players and processes for strategic decision-making.

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