Pune, India, Oct. 17, 2022 (GLOBE NEWSWIRE) — The global Business Spend Management (BSM) software market size was valued at USD 17.07 billion in 2021 and is projected to reach a valuation of USD 15.68 billion in 2022. The market is expected to reach USD 39.05 billion by 2029 with a CAGR of 11.1% during the forecast period. Increasing adoption and integration of cloud-based solution and AI is anticipated to drive market growth. Increasing usage of spend analytics in businesses is expected to propel the market. Preference to optimize the supply chain management by using spend analytics is expected to facilitate market development. Fortune Business Insights™ shares this information in its report titled “Business Spend Management Software Market, 2022-2029.”

Key Industry Development

May 2022- JAGGAER helped Marelli in its transformation and digitalization of its purchasing and supply chain management operations. In 2021, there were around 8,000 Marelli users that used JAGGAER ONE eProcurement platform. The platform was used in around 22 countries and 11 countries.

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Report Scope & Segmentation

Report Coverage
Details

Forecast Period
2022 to 2029

Forecast Period 2022 to 2029 CAGR
11.1%

2029 Value Projection
USD 39.05 Billion

Base Year
2021

Business Spend Management (BSM) Software Market Size in 2021
USD 17.07 Billion

Historical Data for
2018 to 2020

No. of Pages
123

Segments covered …

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