Reports

Global Business Spend Management (BSM) Software Market to Grow at a CAGR of 10.00% During the Period 2024-2032, Driven by Firms’ Need to Automate Business Expenditure Processes

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Global Business Spend Management (BSM) Software Market Size: By Component: Solutions, Services; By Deployment: Cloud, On-Premises; By Enterprise Size: Small and Medium Enterprises (SMEs), Large Enterprises; By Product: Indirect Spending, Direct Spending, Others; By End-User; Regional Analysis; Competitive Landscape; 2024-2032

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Snapshot
   6.1   Global
   6.2   Regional
7   Opportunities and Challenges in the Market
8   Global Business Spend Management (BSM) Software Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Business Spend Management (BSM) Software Historical Market (2018-2023)
   8.3   Global Business Spend Management (BSM) Software Market Forecast (2024-2032)
   8.4   Global Business Spend Management (BSM) Software Market by Component
       8.4.1   Solutions
           8.4.1.1 Historical Trend (2018-2023)
           8.4.1.2 Forecast Trend (2024-2032)
           8.4.1.3 Breakup by Type
               8.4.1.3.1   Procure- to- Pay Solutions
               8.4.1.3.2   Supply and Risk Management
               8.4.1.3.3   Travel and Expense Management
               8.4.1.3.4   Contract and e-tender Management
               8.4.1.3.5   Spend Management/Spend Analytics
               8.4.1.3.6   Others
       8.4.2   Services
           8.4.2.1 Historical Trend (2018-2023)
           8.4.2.2 Forecast Trend (2024-2032)
           8.4.2.3 Breakup by Type
               8.4.2.3.1   Managed Services
               8.4.2.3.2   Professional Services
   8.5   Global Business Spend Management (BSM) Software Market by Deployment
       8.5.1   Cloud
           8.5.1.1 Historical Trend (2018-2023)
           8.5.1.2 Forecast Trend (2024-2032)
       8.5.2   On-Premises
           8.5.2.1 Historical Trend (2018-2023)
           8.5.2.2 Forecast Trend (2024-2032)
   8.6   Global Business Spend Management (BSM) Software Market by Enterprise Size
       8.6.1   Small and Medium Enterprises (SMEs)
           8.6.1.1 Historical Trend (2018-2023)
           8.6.1.2 Forecast Trend (2024-2032)
       8.6.2   Large Enterprises
           8.6.2.1 Historical Trend (2018-2023)
           8.6.2.2 Forecast Trend (2024-2032)
   8.7   Global Business Spend Management (BSM) Software Market by Product
       8.7.1   Indirect Spending
           8.7.1.1 Historical Trend (2018-2023)
           8.7.1.2 Forecast Trend (2024-2032)
       8.7.2   Direct Spending
           8.7.2.1 Historical Trend (2018-2023)
           8.7.2.2 Forecast Trend (2024-2032)
       8.7.3   MRO Spending
           8.7.3.1 Historical Trend (2018-2023)
           8.7.3.2 Forecast Trend (2024-2032)
   8.8   Global Business Spend Management (BSM) Software Market by End-User
       8.8.1   BFSI
           8.8.1.1 Historical Trend (2018-2023)
           8.8.1.2 Forecast Trend (2024-2032)
       8.8.2   Hospitality
           8.8.2.1 Historical Trend (2018-2023)
           8.8.2.2 Forecast Trend (2024-2032)
       8.8.3   Healthcare
           8.8.3.1 Historical Trend (2018-2023)
           8.8.3.2 Forecast Trend (2024-2032)
       8.8.4   IT and Telecom
           8.8.4.1 Historical Trend (2018-2023)
           8.8.4.2 Forecast Trend (2024-2032)
       8.8.5   Energy and Utility
           8.8.5.1 Historical Trend (2018-2023)
           8.8.5.2 Forecast Trend (2024-2032)
       8.8.6   Retail and E-commerce
           8.8.6.1 Historical Trend (2018-2023)
           8.8.6.2 Forecast Trend (2024-2032)
       8.8.7   Others
   8.9   Global Business Spend Management (BSM) Software Market by Region
       8.9.1 North America
           8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
           8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America Business Spend Management (BSM) Software Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
       9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Business Spend Management (BSM) Software Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Business Spend Management (BSM) Software Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Business Spend Management (BSM) Software Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Business Spend Management (BSM) Software Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Medius Sverige AB
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Coupa Software Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Proactis Holdings Limited
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Ivalua Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 SAP SE
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Sage Intacct, Inc
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market

List of Figures and Tables

1.   Global Business Spend Management (BSM) Software Market: Key Industry Highlights, 2018 and 2032
2.   Global Business Spend Management (BSM) Software Historical Market: Breakup by Component (USD Million), 2018-2023
3.   Global Business Spend Management (BSM) Software Market Forecast: Breakup by Component (USD Million), 2024-2032
4.   Global Business Spend Management (BSM) Software Historical Market: Breakup by Deployment (USD Million), 2018-2023
5.   Global Business Spend Management (BSM) Software Market Forecast: Breakup by Deployment (USD Million), 2024-2032
6.   Global Business Spend Management (BSM) Software Historical Market: Breakup by Enterprise Size (USD Million), 2018-2023
7.   Global Business Spend Management (BSM) Software Market Forecast: Breakup by Enterprise Size (USD Million), 2024-2032
8.   Global Business Spend Management (BSM) Software Historical Market: Breakup by Product (USD Million), 2018-2023
9.   Global Business Spend Management (BSM) Software Market Forecast: Breakup by Product (USD Million), 2024-2032
10.   Global Business Spend Management (BSM) Software Historical Market: Breakup by End-User (USD Million), 2018-2023
11.   Global Business Spend Management (BSM) Software Market Forecast: Breakup by End-User (USD Million), 2024-2032
12.   Global Business Spend Management (BSM) Software Historical Market: Breakup by Region (USD Million), 2018-2023
13.   Global Business Spend Management (BSM) Software Market Forecast: Breakup by Region (USD Million), 2024-2032
14.   North America Business Spend Management (BSM) Software Historical Market: Breakup by Country (USD Million), 2018-2023
15.   North America Business Spend Management (BSM) Software Market Forecast: Breakup by Country (USD Million), 2024-2032
16.   Europe Business Spend Management (BSM) Software Historical Market: Breakup by Country (USD Million), 2018-2023
17.   Europe Business Spend Management (BSM) Software Market Forecast: Breakup by Country (USD Million), 2024-2032
18.   Asia Pacific Business Spend Management (BSM) Software Historical Market: Breakup by Country (USD Million), 2018-2023
19.   Asia Pacific Business Spend Management (BSM) Software Market Forecast: Breakup by Country (USD Million), 2024-2032
20.   Latin America Business Spend Management (BSM) Software Historical Market: Breakup by Country (USD Million), 2018-2023
21.   Latin America Business Spend Management (BSM) Software Market Forecast: Breakup by Country (USD Million), 2024-2032
22.   Middle East and Africa Business Spend Management (BSM) Software Historical Market: Breakup by Country (USD Million), 2018-2023
23.   Middle East and Africa Business Spend Management (BSM) Software Market Forecast: Breakup by Country (USD Million), 2024-2032
24.   Global Business Spend Management (BSM) Software Market Structure

Key Questions Answered in the Report

What is the growth rate in business spend management (BSM) software market forecast?

The business spend management (BSM) software market is expected to grow at a CAGR of 10% between 2024 and 2032.

What are the major market drivers?

The major drivers of the market include the presence of several small and medium businesses, rising cost-effective software solutions, increased transparency in the procurement process, increasing internet and smartphone penetration, and integration of advanced technologies, such as AI and MI.

What are the key trends of the market?

Key trends aiding market expansion include an increase in industrial production and increasing demand for efficient spend management solutions.

What are the major regional markets of the business spend management (BSM) software, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What is the market segmentation based on deployment?

Based on deployment, the market is divided into cloud and on-premises.

What are the different components in the market?

The different components include solutions and services. Solutions are further divided into procure- to- pay solutions, supply and risk management, travel and expense management, contract and e-tender management, and spend management/spend analytics, among others, while services are sub-divided into managed services and professional services.

What are the different enterprise sizes in the market?

The different enterprise sizes include small and medium enterprises (SMEs) and large enterprises.

What are the different products in the market?

The different products include indirect spending, direct spending, and MRO spending.

Who are the end-users of BSM software?

The end-users of the market are BFSI, hospitality, healthcare, IT and telecom, energy and utility, retail and e-commerce, among others.

Who are the key players in the business spend management (BSM) software industry, according to the report?

Key players in the market are Medius Sverige AB, Coupa Software Inc., Proactis Holdings Limited, Ivalua Inc., SAP SE, and Sage Intacct, Inc, among others.

Analyst Review

The global business spend management (BSM) software market was driven by the increasing demand for efficient spend management solutions in the historical period. Aided by the presence of a number of small and medium businesses and rising cost-effective software solutions, the market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 10.00%.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The different components include solutions and services. Solutions are further divided into procure- to- pay solutions, supply and risk management, travel and expense management, contract and e-tender management, and spend management/spend analytics, among others while services are sub-divided into managed services and professional services. Based on deployment, the market is divided into cloud and on-premises. The different enterprise sizes include small and medium enterprises (SMEs) and large enterprises. The different products include indirect spending, direct spending, and MRO spending. The end-users of the market are BFSI, hospitality, healthcare, IT and telecom, energy and utility, retail and e-commerce, among others. The major regional markets for the business spend management (BSM) software are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the industry are Medius Sverige AB, Coupa Software Inc., Proactis Holdings Limited, Ivalua Inc., SAP SE, and Sage Intacct, Inc, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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