According to research report "Retail Sourcing and Procurement Market by Solution (Strategic Sourcing, Supplier Management, Contract Management, Procure-to-Pay, and Spend Analysis), Service (Implementation, Training, Consulting), Deployment, User and Region - Global Forecast to 2021", is estimated to grow from USD 2.58 Billion in 2016 to USD 4.83 Billion by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 13.4% from 2016 to 2021.
The market is in the emerging stage in the regions of Asia-Pacific (APAC), Latin America, and Middle East and Africa (MEA).
Therefore, these regions exhibit immense scope for the adoption of retail sourcing and procurement solutions.
There is huge return on investment in the retail sourcing and procurement market, but the need to conform to mandatory protocols and inappropriate management of invoice and payable in these regions is the major restraining factor for the wide adoption of retail sourcing and procurement solutions.
Additionally, the growing technological developments in the field of cloud, analytics, and the emergence of Bring Your Own Device (BYOD) trend have led to the high adoption of sourcing and procurement solutions in the retail sector.The major vendors in the retail sourcing and procurement market include SAP SE, Oracle, IBM, Zycus, PROACTIS, Ivalua, GT Nexus, Epicor, Tradogram, GEP, Vroozi, and Cegid.Speak to Our Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=203509357The retail sourcing and procurement market has been segmented into solutions, services, deployment types, user types, and regions.
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