North America Spend Analytics for Electronics and Semiconductor Market Forecast to 2030

At 15.6% CAGR, North America Spend Analytics for Electronics and Semiconductor Market is Speculated to be Worth US$ 316.32 Million by 2030, says the Research Team.

According to the Research Team’ research, the North America spend analytics for electronics and semiconductor market was valued at US$ 99.13 million in 2022 and is expected to reach US$ 316.32 million by 2030, registering a CAGR of 15.6% from 2022 to 2030. Growing implementation of AI-based spend analytics and Incorporation of miniaturized electronic devices are among the critical factors attributed to the North America spend analytics for electronics and semiconductor market expansion.

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.

On the contrary, technological complexity with the growth of North America spend analytics for electronics and semiconductor market.

Based on component, the North America spend analytics for electronics and semiconductor market is bifurcated into software and services. The software segment held 75.2% market share in 2022, amassing US$ 74.53 million. It is projected to garner US$ 240.83 million by 2030 to expand at 15.8% CAGR during 2022-2030.

In terms of type, the North America spend analytics for electronics and semiconductor market is segmented into descriptive analytics, predictive analytics, and prescriptive analytics. The predictive analytics segment held 45.9% share of North America spend analytics for electronics and semiconductor market in 2022, amassing US$ 45.49 million. It is projected to garner US$ 153.44 million by 2030 to expand at 16.4% CAGR during 2022-2030.

By deployment, the North America spend analytics for electronics and semiconductor market is bifurcated into on-premise and cloud. The cloud segment held 64.5% share of North America spend analytics for electronics and semiconductor market in 2022, amassing US$ 63.92 million. It is projected to garner US$ 210.58 million by 2030 to expand at 16.1% CAGR during 2022-2030.

In terms of application, the North America 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 35.8% share of North America spend analytics for electronics and semiconductor market in 2022, amassing US$ 35.50 million. It is projected to garner US$ 118.02 million by 2030 to expand at 16.2% CAGR during 2022-2030.

By country, the North America spend analytics for electronics and semiconductor market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 80.2% share of North America spend analytics for electronics and semiconductor market in 2022. It was assessed at US$ 79.52 million in 2022 and is likely to hit US$ 252.74 million by 2030, exhibiting a CAGR of 15.6% during 2022-2030.

Key players operating in the North America spend analytics for electronics and semiconductor market are Coupa Software Inc, International Business Machines Corp, Ivalua Inc, Lytica Inc, NB Ventures Inc, SAP SE, Scanmarket AS, Synertrade Inc, and Zycus Inc, among others.

In Aug 2023, Ivalua’s launched a new platform, accelerating AI-powered contract digitization and overall purchasing optimization. This release reflects Ivalua’s growing investment in R&D, including a broad set of new innovations that improve contract digitization and analytics, improve visibility to optimize disparate purchasing activities, extend global e-invoicing compliance, enable new virtual card payment scenarios, and provide a built-in digital adoption layer.

In Aug 2022, Lytica Inc. announced the close of its Series A investment round, with a total consideration of over US $13 million. The round was led by resolve growth partners, with participation from York IE. Lytica intended to use these funds to accelerate spend analytics and risk management product and platform innovation, continue growing its team of specialists, and foster strong industry partnerships.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America spend analytics for electronics and semiconductor market.
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 North America 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 North America 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.

TABLE OF CONTENTS

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. Spend Analytics for Electronics and Semiconductor Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
5. North America 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. North America Spend Analytics for Electronics and Semiconductor Market -Market Analysis
6.1 Spend Analytics for Electronics and Semiconductor Market Revenue (US$ Million), 2022-2030
6.2 Spend Analytics for Electronics and Semiconductor Market Forecast Analysis
7. North America 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. North America 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. North America 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. North America 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. North America Spend Analytics for Electronics and Semiconductor Market – Country Analysis
11.1 North America Market Overview
11.1.1 North America: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast Analysis – by Country
11.1.1.1 North America: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast Analysis – by Country
11.1.1.2 United States: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
11.1.1.2.1 United States: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Component
11.1.1.2.2 United States: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Type
11.1.1.2.3 United States: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Deployment
11.1.1.2.4 United States: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Application
11.1.1.3 Canada: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
11.1.1.3.1 Canada: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Component
11.1.1.3.2 Canada: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Type
11.1.1.3.3 Canada: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Deployment
11.1.1.3.4 Canada: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Application
11.1.1.4 Mexico: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
11.1.1.4.1 Mexico: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Component
11.1.1.4.2 Mexico: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Type
11.1.1.4.3 Mexico: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Deployment
11.1.1.4.4 Mexico: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Application
12. Competitive Landscape
12.1 Heat Map Analysis By Key Players
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 Lytica 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 NB Ventures Inc
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 SAP SE
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
14.7 Scanmarket AS
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Synertrade Inc
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Zycus Inc
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
15. Appendix
15.1 Word Index

LIST OF TABLES

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. North America: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Country
Table 8. United States: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 9. United States: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Type
Table 10. United States: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Deployment
Table 11. United States: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 12. Canada: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 13. Canada: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Type
Table 14. Canada: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Deployment
Table 15. Canada: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 16. Mexico: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 17. Mexico: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Type
Table 18. Mexico: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Deployment
Table 19. Mexico: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 20. Heat Map Analysis By Key Players
Table 21. List of Abbreviation

LIST OF FIGURES

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), 2022-2030
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. Spend Analytics for Electronics and Semiconductor Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 24. North America: Spend Analytics for Electronics and Semiconductor Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 25. United States: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 26. Canada: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)
Figure 27. Mexico: Spend Analytics for Electronics and Semiconductor Market – Revenue and Forecast to 2030 (US$ Million)