Supplier Management Market Reach $1.28 Billion By 2032, CAGR:9.7%

Supplier Management Market Size Worth $1.28 Billion By 2032 | CAGR: 9.7%


The global supplier management market size is expected to reach USD 1.28 billion by 2032, according to a new study by Polaris Market Research. The report “Supplier Management Market Share, Size, Trends, Industry Analysis Report, By Type (Vendor Onboarding, Vendor Risk, Financial Control, Compliance, Others); By End-user; By Enterprises; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growth of supplier management is attributable to the rising production processes in various industries to cater to rising consumer demand, in a way driving the demand for raw materials and other required inputs on time to continue daily business operations. Procurement professionals, manufacturers, retailers, construction companies, automotive companies, and more require supplier management solutions to boost efficiency, reduce risks, and increase revenue in industrial activities.

The increasing collaborations and partnerships in the marketplace are expected to expand the growth of the supplier management market. Blue Ridge, a supplier chain planning solutions provider, and Pepper, an e-commerce platform designed to streamline the ordering process of distributors and clients, entered a strategic partnership. This is likely to promote efficiency, insight, and convenience in the world of food distribution.

Furthermore, in March 2023, SUBARU collaborated with Kinaxis to enhance its abilities in demand forecasting, inventory management, and operational efficiency.  As the companies delve into understanding the mechanisms of supplier management, there will be huge market potential for the growth of the supplier management market throughout the study period.

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The COVID-19 pandemic created supply chain disruptions in the global space, but it is still facing issues to meet complex consumer demand and product innovations in the market. According to the 2023 State of the Supply Chain Industry Report, the sales growth of the supply chain industry witnessed 9% year-on-year in 2023.

Furthermore, supply chain management is gaining traction in the healthcare industry, as it is becoming a part of cost-minimizing tools used by suppliers and providers. It involves acquiring resources, executing supplies, and distributing goods and services to healthcare providers and patients. Healthcare organizations are focusing on inventory management to tackle the shortage of medical equipment for patient care, opting for supply chain solutions to manage quality and costs at the same time.

Supplier Management Market Report Highlights

  • Vendor risk segment will grow rapidly, due to the demand for tools for identifying risks associated with suppliers.
  • Large enterprise segment is projected to experience a larger revenue share due to the demand for huge quantities of inputs attributable to its product diversification.
  • North America dominated the market, owing to the increasing technological integration by vendors.
  • Asia Pacific will grow at the rapid pace, owing to the rising evolution of manufacturing companies in the region.
  • The global players include Blue Ridge Global, Elemica, E2open, Exostar, FourKites, Infor, JDA Software, Kinaxis, Logility, SAP, Savi Technology & Scandit.

Polaris Market Research has segmented the supplier management market report based on type, end-user, enterprises and region:

Supplier Management, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Vendor Onboarding
  • Vendor Risk
  • Financial Control
  • Compliance
  • Others

Supplier Management, End-User Outlook (Revenue - USD Billion, 2019 - 2032)

  • Manufacturers
  • Retails
  • Wholesale/Distribution
  • Transportation & Logistics
  • Telecom
  • Financial sectors
  • Government sectors

Supplier Management, Enterprises Outlook (Revenue - USD Billion, 2019 - 2032)

  • SMES (Small and Medium Enterprises)
  • Large Enterprises

Supplier Management, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

Supplier Management Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 611.77 million

Revenue forecast in 2032

USD 1285.37 million

CAGR

9.7% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD million and CAGR from 2024 to 2032

Segments covered

By Type, By End-User, By Enterprises, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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