Middle East & Africa Spend Analytics for Electronics and Semiconductor Market Forecast to 2030
Middle East & Africa Spend Analytics for Electronics and Semiconductor Market Forecast to 2030 – Regional analysis – by Component (Software and Service), Type (Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics), Deployment (On-Premise and Cloud), and Application (Financial Management, Risk Management, Governance and Compliance Management, Supplier Sourcing and Performance Management, Demand and Supply Forecasting, and Others)
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Description
Growing Implementation of AI-based Spend Analytics Bolsters Middle East & Africa Spend Analytics for Electronics and Semiconductor Market.
The integration of artificial intelligence (AI), generative AI, big data analytics, Internet of Things (IoT), cloud computing, robotic process automation (RPA), image recognition, and other technologies is expected to enhance the capabilities of spend analytics in the coming years. These technologies help automate data collection and analysis processes, provide predictive insights, optimize procurement strategies, and improve decision-making based on real-time data. In October 2023, SAP SE introduced new advancements in artificial intelligence (AI) and user experience within its comprehensive spend management and business network solutions at the SAP Spend Connect Live event, widely known as the leading conference in the field of spend management. These innovations are aimed at assisting customers in gaining control over costs, minimizing risk, and enhancing productivity. The technological advancements associated with spend analytics are driven by artificial intelligence (AI) integration. AI enables machines and software applications to reason, learn, and act like human cognition. This capability allows AI systems to analyze complicated data sets, recognize patterns, and make informed decisions based on the available information. The rise of AI technology has also led to an increased demand for powerful and efficient semiconductor chips. AI systems require high-performance computing capabilities to process and analyze large volumes of data in real time. This demand has driven the development of specialized AI chips optimized for AI workloads. Thus, the growing implementation of AI-based spend analytics is anticipated to create ample opportunities for the spend analytics for electronics and semiconductor market growth in the coming years.
Middle East & Africa Spend Analytics for Electronics and Semiconductor Market Overview
The increasing adoption of advanced technology-based devices, the proliferation of the automotive sector, and the rising demand for consumer electronics are a few of the noteworthy factors favoring the spend analytics for electronics and semiconductor market in the Middle East & Africa. The automotive sector in the region is contributing significantly to the market growth, as semiconductors are crucial components in vehicles. Further, people and businesses in the Middle East & Africa are highly inclined toward advanced electronic devices and technologies. The rising demand for consumer electronics is also a significant factor driving the adoption of spend analytics solutions in the electronics and semiconductor sector in the region. Businesses in the flourishing consumer electronics industry encounter the challenge of efficiently managing their expenditures to maintain competitiveness and meet their customers’ changing preferences. Adopting spend analytics solutions becomes crucial as they provide valuable insights into spending patterns, identify opportunities for cost optimization, and facilitate informed decision-making, thereby ensuring that the companies remain adaptable and responsive in the fast-paced marketplace.
Middle East & Africa Spend Analytics for Electronics and Semiconductor Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Spend Analytics for Electronics and Semiconductor Market Segmentation
The Middle East & Africa spend analytics for electronics and semiconductor market is segmented based on component, type, deployment, application, and country. Based on component, the Middle East & Africa spend analytics for electronics and semiconductor market is bifurcated into software and services. The software services held a larger market share in 2022.
Based on type, the Middle East & Africa spend analytics for electronics and semiconductor market is segmented into descriptive analytics, predictive analytics, and prescriptive analytics. The predictive analytics held the largest market share in 2022.
In terms of deployment, the Middle East & Africa spend analytics for electronics and semiconductor market is bifurcated into on-premise and cloud. The cloud held a larger market share in 2022.
By application, the Middle East & Africa spend analytics for electronics and semiconductor market is segmented into financial management, risk management, governance & compliance management, supplier sourcing & performance management, demand & supply forecasting, and others. The supplier sourcing & performance management held the largest market share in 2022.
Based on country, the Middle East & Africa spend analytics for electronics and semiconductor market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa spend analytics for electronics and semiconductor market share in 2022.
Coupa Software Inc, International Business Machines Corp, Ivalua Inc, NB Ventures Inc, SAP SE, and Zycus Inc are some of the leading companies operating in the Middle East & Africa spend analytics for electronics and semiconductor market.
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According to the Research Team’ research, the Middle East & Africa spend analytics for electronics and semiconductor market was valued at US$ 16.98 million in 2022 and is expected to reach US$ 43.70 million by 2030, registering a CAGR of 12.5% from 2022 to 2030. Rise in demand for consumer electronics and rise in supply chain disruption are among the critical factors attributed to the Middle East & Africa spend analytics for electronics and semiconductor market expansion.
The electronics and semiconductor market experienced a significant surge in demand for smartphones, tablets, wearable devices, and other consumer electronics. This increase in demand highlighted the necessity for spending analytics within the industry. As the consumer electronics market expanded, companies in this sector faced the challenge of efficiently managing their expenditures to maintain competitiveness and meet their customers’ changing preferences. The adoption of spend analytics solutions became crucial as it provided valuable insights into spending patterns, identified opportunities for cost optimization, and facilitated informed decision-making to ensure companies remained adaptable and responsive in this fast-paced market. Also, spend analytics help companies streamline their procurement processes, identify potential areas for cost reduction, and strategically allocate resources to meet the growing demand for consumer electronics, which boosts the spend analytics for electronics and semiconductor market growth.
On the contrary, technological complexity with the growth of Middle East & Africa spend analytics for electronics and semiconductor market.
Based on component, the Middle East & Africa spend analytics for electronics and semiconductor market is bifurcated into software and services. The software segment held 74.4% market share in 2022, amassing US$ 12.63 million. It is projected to garner US$ 32.95 million by 2030 to expand at 12.7% CAGR during 2022-2030.
Based on type, the Middle East & Africa spend analytics for electronics and semiconductor market is segmented into descriptive analytics, predictive analytics, and prescriptive analytics. The predictive analytics segment held 42.8% share of Middle East & Africa spend analytics for electronics and semiconductor market in 2022, amassing US$ 7.26 million. It is projected to garner US$ 19.61 million by 2030 to expand at 13.2% CAGR during 2022-2030.
By deployment, the Middle East & Africa spend analytics for electronics and semiconductor market is bifurcated into on-premise and cloud. The cloud segment held 63.3% share of Middle East & Africa spend analytics for electronics and semiconductor market in 2022, amassing US$ 10.74 million. It is projected to garner US$ 28.49 million by 2030 to expand at 13.0% CAGR during 2022-2030.
In terms of application, the Middle East & Africa spend analytics for electronics and semiconductor market is segmented into financial management, risk management, governance & compliance management, supplier sourcing & performance management, demand & supply forecasting, and others. The supplier sourcing & performance management segment held 37.4% share of Middle East & Africa spend analytics for electronics and semiconductor market in 2022, amassing US$ 6.35 million. It is projected to garner US$ 16.94 million by 2030 to expand at 13.1% CAGR during 2022-2030.
By country, the Middle East & Africa spend analytics for electronics and semiconductor market has been categorized into the South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 31.7% share of Middle East & Africa spend analytics for electronics and semiconductor market in 2022. It was assessed at US$ 5.38 million in 2022 and is likely to hit US$ 13.05 million by 2030, exhibiting a CAGR of 11.7% during 2022-2030.
Key players operating in the Middle East & Africa spend analytics for electronics and semiconductor market are Coupa Software Inc, International Business Machines Corp, Ivalua Inc, NB Ventures Inc, SAP SE, and Zycus Inc, among others.
In October 2023, SAP SE announced new business AI and user experience innovations in its comprehensive spend management and business network solutions to help customers control costs, mitigate risk, and increase productivity. The newly released SAP Ariba category management solution will be enhanced with the power of generative AI to help procurement professionals build comprehensive and effective category strategies faster.
In January 2021, Scanmarket announced the acquisition of MIA Data, an analytics technology company specializing in artificial intelligence and machine learning applied to digitalizing business procurement processes. The new AI capabilities have been applied to Scanmarket’s Spend Analytics software.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Middle East & Africa spend analytics for electronics and semiconductor market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The the Reporting Teams Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Spend Analytics for Electronics and Semiconductor Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
5. Middle East & Africa Spend Analytics for Electronics and Semiconductor Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in Demand for Consumer Electronics
5.1.2 Fluctuations in Raw Materials Prices
5.2 Market Restraints
5.2.1 Technological Complexity
5.3 Market Opportunities
5.3.1 Rise in Supply Chain Disruption
5.3.2 Incorporation of Miniaturized Electronic Devices
5.4 Future Trends
5.4.1 Growing Implementation of AI-based Spend Analytics
5.5 Impact of Drivers and Restraints:
6. Middle East & Africa Spend Analytics for Electronics and Semiconductor Market -Market Analysis
6.1 Spend Analytics for Electronics and Semiconductor Market Revenue (US$ Million), 2020-2030
6.2 Spend Analytics for Electronics and Semiconductor Market Forecast Analysis
7. Middle East & Africa Spend Analytics for Electronics and Semiconductor Market Analysis – by Component
7.1 Software
7.1.1 Overview
7.1.2 Software: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Service
7.2.1 Overview
7.2.2 Service: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa Spend Analytics for Electronics and Semiconductor Market Analysis – by Type
8.1 Descriptive Analytics
8.1.1 Overview
8.1.2 Descriptive Analytics: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Predictive Analytics
8.2.1 Overview
8.2.2 Predictive Analytics: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
8.3 Prescriptive Analytics
8.3.1 Overview
8.3.2 Prescriptive Analytics: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
9. Middle East & Africa Spend Analytics for Electronics and Semiconductor Market Analysis – by Deployment
9.1 On-Premise
9.1.1 Overview
9.1.2 On-Premise: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
9.2 Cloud
9.2.1 Overview
9.2.2 Cloud: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
10. Middle East & Africa Spend Analytics for Electronics and Semiconductor Market Analysis – by Application
10.1 Financial Management
10.1.1 Overview
10.1.2 Financial Management: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
10.2 Risk Management
10.2.1 Overview
10.2.2 Risk Management: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
10.3 Governance and Compliance Management
10.3.1 Overview
10.3.2 Governance and Compliance Management: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
10.4 Supplier Sourcing and Performance Management
10.4.1 Overview
10.4.2 Supplier Sourcing and Performance Management: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
10.5 Demand and Supply Forecasting
10.5.1 Overview
10.5.2 Demand and Supply Forecasting: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
10.6 Others
10.6.1 Overview
10.6.2 Others: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
11. Middle East & Africa Spend Analytics for Electronics and Semiconductor Market – Country Analysis
11.1 Middle East & Africa Market Overview
11.1.1 Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast Analysis – by Country
11.1.1.1 Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast Analysis – by Country
11.1.1.2 South Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
11.1.1.2.1 South Africa: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Component
11.1.1.2.2 South Africa: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Type
11.1.1.2.3 South Africa: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Deployment
11.1.1.2.4 South Africa: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Application
11.1.1.3 Saudi Arabia: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
11.1.1.3.1 Saudi Arabia: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Component
11.1.1.3.2 Saudi Arabia: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Type
11.1.1.3.3 Saudi Arabia: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Deployment
11.1.1.3.4 Saudi Arabia: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Application
11.1.1.4 United Arab Emirates: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
11.1.1.4.1 United Arab Emirates: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Component
11.1.1.4.2 United Arab Emirates: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Type
11.1.1.4.3 United Arab Emirates: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Deployment
11.1.1.4.4 United Arab Emirates: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Application
11.1.1.5 Rest of Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
11.1.1.5.1 Rest of Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Component
11.1.1.5.2 Rest of Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Type
11.1.1.5.3 Rest of Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Deployment
11.1.1.5.4 Rest of Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Application
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Product Development
13.4 Merger and Acquisition
14. Company Profiles
14.1 Coupa Software Inc
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 International Business Machines Corp
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Ivalua Inc
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 NB Ventures Inc
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 SAP SE
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Zycus Inc
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
15. Appendix
15.1 Word Index
Table 1. Spend Analytics for Electronics and Semiconductor Market Segmentation
Table 2. Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Table 3. Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 4. Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Type
Table 5. Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Deployment
Table 6. Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 7. Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Country
Table 8. South Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 9. South Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Type
Table 10. South Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Deployment
Table 11. South Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 12. Saudi Arabia: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 13. Saudi Arabia: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Type
Table 14. Saudi Arabia: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Deployment
Table 15. Saudi Arabia: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 16. United Arab Emirates: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 17. United Arab Emirates: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Type
Table 18. United Arab Emirates: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Deployment
Table 19. United Arab Emirates: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 20. Rest of Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 21. Rest of Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Type
Table 22. Rest of Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Deployment
Table 23. Rest of Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 24. Heat Map Analysis by Key Players
Table 25. List of Abbreviation
Figure 1. Spend Analytics for Electronics and Semiconductor Market Segmentation, by Country
Figure 2. Ecosystem: Spend Analytics for Electronics and Semiconductor Market
Figure 3. Spend Analytics for Electronics and Semiconductor Market – Key Market Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Spend Analytics for Electronics and Semiconductor Market Revenue (US$ Million), 2020-2030
Figure 6. Spend Analytics for Electronics and Semiconductor Market Share (%) – by Component (2022 and 2030)
Figure 7. Software: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Service: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Spend Analytics for Electronics and Semiconductor Market Share (%) – by Type (2022 and 2030)
Figure 10. Descriptive Analytics: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Predictive Analytics: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Prescriptive Analytics: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Spend Analytics for Electronics and Semiconductor Market Share (%) – by Deployment (2022 and 2030)
Figure 14. On-Premise: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Cloud: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Spend Analytics for Electronics and Semiconductor Market Share (%) – by Application (2022 and 2030)
Figure 17. Financial Management: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Risk Management: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Governance and Compliance Management: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. Supplier Sourcing and Performance Management: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 21. Demand and Supply Forecasting: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 22. Others: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 23. Middle East & Africa Spend Analytics for Electronics and Semiconductor Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 24. Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 25. South Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 26. Saudi Arabia: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 27. United Arab Emirates: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 28. Rest of Middle East & Africa: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 29. Company Positioning & Concentration
The List of Companies – Middle East & Africa Spend Analytics for Electronics and Semiconductor Market
1. Coupa Software Inc
2. International Business Machines Corp
3. Ivalua Inc
4. NB Ventures Inc
5. SAP SE
6. Zycus Inc
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