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Tail Spend Management Solutions - Global Strategic Business Report

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    Report

  • 189 Pages
  • November 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5998560
The global market for Tail Spend Management Solutions was estimated at US$1.8 Billion in 2023 and is projected to reach US$2.2 Billion by 2030, growing at a CAGR of 3.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Tail Spend Management Solutions Market - Key Trends and Drivers Summarized

Tail Spend Management Solutions: Optimizing Procurement Efficiency

Tail spend management solutions are specialized tools and services designed to help organizations manage their low-value, non-strategic spend, which typically accounts for 20% of total procurement but involves 80% of suppliers. Tail spend is often overlooked in procurement strategies, leading to inefficiencies, lack of visibility, and missed savings opportunities. Tail spend management solutions provide organizations with the tools to analyze, consolidate, and optimize this spend category, resulting in cost savings, improved supplier relationships, and better compliance with procurement policies. These solutions are becoming increasingly important as organizations seek to optimize their procurement processes and achieve greater cost efficiencies.

How Is the Tail Spend Management Market Evolving?

The tail spend management market is evolving with the adoption of advanced analytics, artificial intelligence (AI), and automation technologies. These innovations are enabling organizations to gain greater visibility into their tail spend, identify cost-saving opportunities, and streamline procurement processes. AI-powered algorithms are being used to analyze large volumes of transaction data, categorize spend, and recommend actions to optimize procurement. The integration of tail spend management solutions with enterprise resource planning (ERP) and procurement platforms is also a significant trend, allowing for seamless data sharing and process automation. Additionally, the use of cloud-based solutions is making tail spend management more accessible and scalable for organizations of all sizes.

What Challenges Does the Tail Spend Management Market Face?

The tail spend management market faces several challenges, including the complexity of managing a large number of low-value transactions across multiple suppliers. Achieving visibility into tail spend can be difficult, particularly for organizations with decentralized procurement processes and legacy systems. Additionally, resistance to change and the perception that tail spend management is not a priority can hinder the adoption of these solutions. Another challenge is the need for integration with existing procurement systems and processes, which can be time-consuming and costly. Ensuring compliance with procurement policies and achieving buy-in from stakeholders across the organization are also critical challenges that must be addressed.

What Is Driving Growth in the Tail Spend Management Solutions Market?

The growth in the tail spend management solutions market is driven by several factors. The increasing pressure on organizations to optimize costs and improve procurement efficiency is a major driver, as tail spend management offers significant savings opportunities. The adoption of advanced analytics and AI technologies is also fueling demand, as these tools enable organizations to gain deeper insights into their spend and identify areas for improvement. Additionally, the growing complexity of global supply chains and the need for greater visibility and control over procurement processes are driving the adoption of tail spend management solutions. The shift towards digital procurement and the integration of tail spend management with broader procurement strategies are further contributing to market growth.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Spend Analytics Solutions segment, which is expected to reach US$1.2 Billion by 2030 with a CAGR of a 3.4%. The Order Management Solutions segment is also set to grow at 2.8% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $477.8 Million in 2023, and China, forecasted to grow at an impressive 6.0% CAGR to reach $442.2 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Tail Spend Management Solutions Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Tail Spend Management Solutions Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Tail Spend Management Solutions Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Basware, Capita PLC, Corcentric, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 48 Featured):

  • Basware
  • Capita PLC
  • Corcentric
  • Fairmarkit
  • GEP
  • Ivalua Inc.
  • Jaggaer
  • Logistic Solutions Inc.
  • NB Ventures Inc.
  • Proactis Holdings Plc

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Global Economic Update
  • Tail Spend Management Solutions - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Rising Focus on Cost Optimization in Procurement Drives Demand for Tail Spend Management Solutions
  • Increasing Adoption of Cloud-Based Procurement Solutions Expands Addressable Market
  • Enhanced Visibility and Control Over Indirect Spend Strengthens Business Case for Tail Spend Management
  • Growing Need for Supplier Consolidation and Rationalization Spurs Adoption
  • Development of AI-Powered Spend Analysis Tools Accelerates Market Growth
  • Integration of Tail Spend Management Solutions with ERP Systems Generates Demand
  • Increasing Focus on Sustainable and Ethical Sourcing Drives Adoption
  • Growing Complexity in Global Supply Chains Spurs Demand for Tail Spend Management
  • Adoption of Tail Spend Management Solutions in Small and Medium Enterprises Sustains Market Growth
  • Development of User-Friendly and Intuitive Platforms Strengthens Market Position
  • Rising Demand for Real-Time Spend Visibility and Reporting Drives Market Growth
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Tail Spend Management Solutions Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
  • Table 2: World Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 3: World Historic Review for Tail Spend Management Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 4: World 16-Year Perspective for Tail Spend Management Solutions by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Spend Analytics Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 6: World Historic Review for Spend Analytics Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 7: World 16-Year Perspective for Spend Analytics Solutions by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for Order Management Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 9: World Historic Review for Order Management Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 10: World 16-Year Perspective for Order Management Solutions by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Contract Management Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 12: World Historic Review for Contract Management Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 13: World 16-Year Perspective for Contract Management Solutions by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • Table 14: USA Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 15: USA Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 16: USA 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
CANADA
  • Table 17: Canada Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 18: Canada Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 19: Canada 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
JAPAN
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • Table 20: Japan Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 21: Japan Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 22: Japan 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
CHINA
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • Table 23: China Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 24: China Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 25: China 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
EUROPE
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • Table 26: Europe Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 27: Europe Historic Review for Tail Spend Management Solutions by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 28: Europe 16-Year Perspective for Tail Spend Management Solutions by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets for Years 2014, 2024 & 2030
  • Table 29: Europe Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 30: Europe Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 31: Europe 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
FRANCE
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
  • Table 32: France Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 33: France Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 34: France 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
GERMANY
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
  • Table 35: Germany Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 36: Germany Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 37: Germany 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
ITALY
  • Table 38: Italy Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 39: Italy Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 40: Italy 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
UNITED KINGDOM
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
  • Table 41: UK Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 42: UK Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 43: UK 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
SPAIN
  • Table 44: Spain Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 45: Spain Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 46: Spain 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
RUSSIA
  • Table 47: Russia Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 48: Russia Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 49: Russia 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
REST OF EUROPE
  • Table 50: Rest of Europe Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 51: Rest of Europe Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 52: Rest of Europe 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
ASIA-PACIFIC
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Table 53: Asia-Pacific Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 54: Asia-Pacific Historic Review for Tail Spend Management Solutions by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 55: Asia-Pacific 16-Year Perspective for Tail Spend Management Solutions by Geographic Region - Percentage Breakdown of Value Sales for Australia, India, South Korea and Rest of Asia-Pacific Markets for Years 2014, 2024 & 2030
  • Table 56: Asia-Pacific Recent Past, Current & Future Analysis for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 57: Asia-Pacific Historic Review for Tail Spend Management Solutions by Solution - Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • Table 58: Asia-Pacific 16-Year Perspective for Tail Spend Management Solutions by Solution - Percentage Breakdown of Value Sales for Spend Analytics Solutions, Order Management Solutions and Contract Management Solutions for the Years 2014, 2024 & 2030
AUSTRALIA
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Tail Spend Management Solutions Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned

  • Basware
  • Capita PLC
  • Corcentric
  • Fairmarkit
  • GEP
  • Ivalua Inc.
  • Jaggaer
  • Logistic Solutions Inc.
  • NB Ventures Inc.
  • Proactis Holdings Plc

Table Information