Product Code: ETC13354926 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Shubham Padhi | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Retail Sourcing and Procurement Software Market was valued at USD 3.8 Billion in 2024 and is expected to reach USD 5.5 Billion by 2031, growing at a compound annual growth rate of 5.79% during the forecast period (2025-2031).
The Global Retail Sourcing and Procurement Software Market is experiencing steady growth due to the increasing adoption of digital solutions by retail companies to streamline their sourcing and procurement processes. The market is driven by factors such as the need for cost reduction, improved efficiency, and better supplier management. Key players in the market offer a range of software solutions tailored to the specific needs of retail businesses, including e-sourcing, spend analysis, contract management, and supplier relationship management. The market is also witnessing a shift towards cloud-based solutions to enhance scalability and flexibility. North America and Europe are the leading regions in terms of market share, with Asia Pacific expected to witness significant growth due to the expanding retail sector in countries like China and India. Overall, the Global Retail Sourcing and Procurement Software Market is poised for continued expansion in the coming years.
The Global Retail Sourcing and Procurement Software Market is experiencing significant growth driven by the increasing adoption of technology in the retail sector. Key trends in the market include the shift towards cloud-based solutions, integration of artificial intelligence and machine learning capabilities, and the focus on enhancing supply chain visibility and efficiency. Opportunities in the market lie in the development of advanced analytics tools for demand forecasting, expanding into emerging markets, and offering customizable solutions to meet the unique needs of retailers. With the rise of e-commerce and omnichannel retailing, retailers are increasingly turning to sourcing and procurement software to streamline their operations, reduce costs, and improve overall business performance.
Some challenges faced in the Global Retail Sourcing and Procurement Software Market include the increasing complexity of global supply chains, which require advanced software solutions to effectively manage sourcing and procurement activities across multiple regions and suppliers. Additionally, data security and compliance with various regulations present challenges for software providers to ensure the protection of sensitive information and adherence to legal requirements. Integration with existing systems and processes within retail organizations can also be a hurdle, as seamless communication and interoperability are essential for the successful implementation and adoption of sourcing and procurement software. Lastly, the rapid evolution of technology and changing market dynamics require continuous innovation and updates to software solutions to stay competitive and meet the evolving needs of retail businesses.
The Global Retail Sourcing and Procurement Software Market is primarily driven by the increasing demand for streamlining sourcing and procurement processes, improving supply chain visibility, and enhancing cost efficiency in the retail industry. The growing trend of digital transformation and the adoption of cloud-based solutions are also key drivers of market growth. Additionally, the need for real-time data analytics, supplier collaboration tools, and compliance management features is fueling the demand for advanced sourcing and procurement software among retailers. Furthermore, the rise of e-commerce and omnichannel retailing is pushing retailers to invest in software solutions that can help them manage complex sourcing requirements and ensure seamless procurement operations across various channels. Overall, the market is driven by the imperative for retailers to optimize their sourcing strategies and drive operational excellence in a competitive marketplace.
Government policies related to the Global Retail Sourcing and Procurement Software Market vary depending on the country, but generally focus on promoting fair competition, data security, and compliance with trade regulations. Many governments have regulations in place to ensure transparency and accountability in procurement processes, as well as to prevent corruption and ensure ethical sourcing practices. Additionally, data protection and privacy laws play a significant role in shaping the regulatory environment for sourcing and procurement software, with governments increasingly focusing on safeguarding consumer data and intellectual property. Trade policies and tariffs also impact the market dynamics by influencing sourcing decisions and supply chain strategies for retail companies operating globally. Overall, government policies aim to create a level playing field for businesses, protect consumer interests, and support sustainable practices in the retail sourcing and procurement software market.
The Global Retail Sourcing and Procurement Software Market is expected to witness significant growth in the coming years, driven by the increasing adoption of digital technologies in the retail industry to streamline sourcing and procurement processes. The market is projected to expand due to the rising demand for cloud-based solutions, real-time data analytics, and automation tools to enhance operational efficiency and cost savings. Additionally, the growing focus on sustainability and ethical sourcing practices is expected to drive the adoption of software solutions that enable retailers to track and manage their supply chains more effectively. Overall, the market is poised for robust growth as retailers continue to prioritize digital transformation to stay competitive in a rapidly evolving industry landscape.
In the global Retail Sourcing and Procurement Software market, Asia Pacific is expected to witness significant growth due to the rising adoption of digital technologies in retail operations across countries like China and India. North America is anticipated to hold a prominent market share, driven by the presence of key market players and early adoption of advanced procurement solutions. In Europe, the market is projected to grow steadily as retail companies focus on enhancing supply chain efficiency and reducing costs. The Middle East and Africa region is likely to experience moderate growth, supported by increasing investments in retail infrastructure. Latin America is expected to offer growth opportunities as retailers in the region prioritize streamlining procurement processes and improving vendor management through software solutions.
Global Retail Sourcing and Procurement Software Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Retail Sourcing and Procurement Software Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Retail Sourcing and Procurement Software Market Revenues & Volume, 2021 & 2031F |
3.3 Global Retail Sourcing and Procurement Software Market - Industry Life Cycle |
3.4 Global Retail Sourcing and Procurement Software Market - Porter's Five Forces |
3.5 Global Retail Sourcing and Procurement Software Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Retail Sourcing and Procurement Software Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Global Retail Sourcing and Procurement Software Market Revenues & Volume Share, By Function, 2021 & 2031F |
3.8 Global Retail Sourcing and Procurement Software Market Revenues & Volume Share, By Deployment, 2021 & 2031F |
3.9 Global Retail Sourcing and Procurement Software Market Revenues & Volume Share, By End Use, 2021 & 2031F |
4 Global Retail Sourcing and Procurement Software Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Retail Sourcing and Procurement Software Market Trends |
6 Global Retail Sourcing and Procurement Software Market, 2021 - 2031 |
6.1 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By Cloud-Based, 2021 - 2031 |
6.1.3 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By On-Premise, 2021 - 2031 |
6.1.4 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By AI-Powered, 2021 - 2031 |
6.2 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By Function, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By Supplier Management, 2021 - 2031 |
6.2.3 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By Purchase Order Automation, 2021 - 2031 |
6.2.4 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By Demand Forecasting, 2021 - 2031 |
6.3 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By Deployment, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By SaaS, 2021 - 2031 |
6.3.3 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By Enterprise Integration, 2021 - 2031 |
6.3.4 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By Data Analytics, 2021 - 2031 |
6.4 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By End Use, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By Retailers, 2021 - 2031 |
6.4.3 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By E-Commerce, 2021 - 2031 |
6.4.4 Global Retail Sourcing and Procurement Software Market, Revenues & Volume, By Supermarkets, 2021 - 2031 |
7 North America Retail Sourcing and Procurement Software Market, Overview & Analysis |
7.1 North America Retail Sourcing and Procurement Software Market Revenues & Volume, 2021 - 2031 |
7.2 North America Retail Sourcing and Procurement Software Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Retail Sourcing and Procurement Software Market, Revenues & Volume, By Type, 2021 - 2031 |
7.4 North America Retail Sourcing and Procurement Software Market, Revenues & Volume, By Function, 2021 - 2031 |
7.5 North America Retail Sourcing and Procurement Software Market, Revenues & Volume, By Deployment, 2021 - 2031 |
7.6 North America Retail Sourcing and Procurement Software Market, Revenues & Volume, By End Use, 2021 - 2031 |
8 Latin America (LATAM) Retail Sourcing and Procurement Software Market, Overview & Analysis |
8.1 Latin America (LATAM) Retail Sourcing and Procurement Software Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Retail Sourcing and Procurement Software Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Retail Sourcing and Procurement Software Market, Revenues & Volume, By Type, 2021 - 2031 |
8.4 Latin America (LATAM) Retail Sourcing and Procurement Software Market, Revenues & Volume, By Function, 2021 - 2031 |
8.5 Latin America (LATAM) Retail Sourcing and Procurement Software Market, Revenues & Volume, By Deployment, 2021 - 2031 |
8.6 Latin America (LATAM) Retail Sourcing and Procurement Software Market, Revenues & Volume, By End Use, 2021 - 2031 |
9 Asia Retail Sourcing and Procurement Software Market, Overview & Analysis |
9.1 Asia Retail Sourcing and Procurement Software Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Retail Sourcing and Procurement Software Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Retail Sourcing and Procurement Software Market, Revenues & Volume, By Type, 2021 - 2031 |
9.4 Asia Retail Sourcing and Procurement Software Market, Revenues & Volume, By Function, 2021 - 2031 |
9.5 Asia Retail Sourcing and Procurement Software Market, Revenues & Volume, By Deployment, 2021 - 2031 |
9.6 Asia Retail Sourcing and Procurement Software Market, Revenues & Volume, By End Use, 2021 - 2031 |
10 Africa Retail Sourcing and Procurement Software Market, Overview & Analysis |
10.1 Africa Retail Sourcing and Procurement Software Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Retail Sourcing and Procurement Software Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Retail Sourcing and Procurement Software Market, Revenues & Volume, By Type, 2021 - 2031 |
10.4 Africa Retail Sourcing and Procurement Software Market, Revenues & Volume, By Function, 2021 - 2031 |
10.5 Africa Retail Sourcing and Procurement Software Market, Revenues & Volume, By Deployment, 2021 - 2031 |
10.6 Africa Retail Sourcing and Procurement Software Market, Revenues & Volume, By End Use, 2021 - 2031 |
11 Europe Retail Sourcing and Procurement Software Market, Overview & Analysis |
11.1 Europe Retail Sourcing and Procurement Software Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Retail Sourcing and Procurement Software Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Retail Sourcing and Procurement Software Market, Revenues & Volume, By Type, 2021 - 2031 |
11.4 Europe Retail Sourcing and Procurement Software Market, Revenues & Volume, By Function, 2021 - 2031 |
11.5 Europe Retail Sourcing and Procurement Software Market, Revenues & Volume, By Deployment, 2021 - 2031 |
11.6 Europe Retail Sourcing and Procurement Software Market, Revenues & Volume, By End Use, 2021 - 2031 |
12 Middle East Retail Sourcing and Procurement Software Market, Overview & Analysis |
12.1 Middle East Retail Sourcing and Procurement Software Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Retail Sourcing and Procurement Software Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Retail Sourcing and Procurement Software Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Retail Sourcing and Procurement Software Market, Revenues & Volume, By Type, 2021 - 2031 |
12.4 Middle East Retail Sourcing and Procurement Software Market, Revenues & Volume, By Function, 2021 - 2031 |
12.5 Middle East Retail Sourcing and Procurement Software Market, Revenues & Volume, By Deployment, 2021 - 2031 |
12.6 Middle East Retail Sourcing and Procurement Software Market, Revenues & Volume, By End Use, 2021 - 2031 |
13 Global Retail Sourcing and Procurement Software Market Key Performance Indicators |
14 Global Retail Sourcing and Procurement Software Market - Export/Import By Countries Assessment |
15 Global Retail Sourcing and Procurement Software Market - Opportunity Assessment |
15.1 Global Retail Sourcing and Procurement Software Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Retail Sourcing and Procurement Software Market Opportunity Assessment, By Type, 2021 & 2031F |
15.3 Global Retail Sourcing and Procurement Software Market Opportunity Assessment, By Function, 2021 & 2031F |
15.4 Global Retail Sourcing and Procurement Software Market Opportunity Assessment, By Deployment, 2021 & 2031F |
15.5 Global Retail Sourcing and Procurement Software Market Opportunity Assessment, By End Use, 2021 & 2031F |
16 Global Retail Sourcing and Procurement Software Market - Competitive Landscape |
16.1 Global Retail Sourcing and Procurement Software Market Revenue Share, By Companies, 2024 |
16.2 Global Retail Sourcing and Procurement Software Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |