Company logo
European Procure-to-Pay Solutions Market
European Procure-to-Pay Solutions Market
Dublin, Aug. 29, 2024 (GLOBE NEWSWIRE) — The “Europe Procure to Payment Solutions Market Size and Forecast, Regional Share, Trends and Growth Opportunities Analysis Report Coverage: By Component, Vertical, Organization Size, Deployment and Country” report has been added to ResearchAndMarkets.com.
The European Procure to Pay (P2P) solutions market is expected to continue its upward trend, exhibiting a robust valuation of USD 2.16 billion in 2023, and is expected to rise to a staggering USD 4.16 billion by 2031.
This growth is expected to occur at a compound annual growth rate (CAGR) of 8.5% over the forecast period, i.e., 2023 to 2031. Key factors driving the development of this market include significant increase in demand for e-invoicing, regulatory developments, widespread adoption of mobile procurement options, and growing trend towards cloud-based solutions.
In recent years, rapid technological innovation in Europe, along with automation and seamless integration with Enterprise Resource Planning (ERP) systems, has paved the way for significant growth in the P2P solutions market. Mobile procurement solutions in particular have garnered significant attention in the industry as they offer flexibility and improved user experience, helping to constantly improve the efficiency of procurement operations in modern businesses.
Segmentation Insights
The European P2P solutions landscape can be segmented into various segments such as components, deployment, organization size, and industry vertical. Solutions and services represent the core components, while deployment bifurcates into cloud and on-premise solutions. Further, based on organization size, the market is categorized into large enterprises and SMEs. Various industries such as manufacturing, IT & telecommunications, healthcare, and retail are at the forefront of adopting these solutions.
Services and Industry Recruitment
The range of services includes software implementation, training, support and consulting services, all of which are essential to help end users integrate P2P into their existing systems and realise the full potential of the solution. Industries such as IT and telecommunications are increasingly leveraging P2P solutions to drive cost savings and increase efficiencies within supply chain and procurement processes. A key part of this effort are digital transformation initiatives aimed at driving innovation, significantly reducing operational costs and increasing customer satisfaction, all while maintaining an unwavering focus on cyber security.
Competitive Environment
The European Procure to Payment Solutions market is characterized by a dynamic competitive framework with leading players offering comprehensive solutions that meet the diverse requirements of the industry. These market players are formulating innovative strategies to meet the demand, thereby fueling the market growth. Through thorough primary research and extensive secondary research, this analysis provides a rigorous overview and forecast of the P2P Solutions market and its multifaceted market segments.
The European Procure-to-Pay Solutions market forecast publication is based on a consolidated foundation of in-depth research findings, including substantial data from leading company publications, association data, and verified databases. Insights gained from this market analysis are essential for industry players seeking to navigate the evolving market landscape and capitalize on growth opportunities in the fast-growing European P2P solutions sector.
Key attributes:
The story continues
Report Attributes
detail
Number of pages
170
Forecast Period
2023 – 2031
Estimated market value in 2023 (USD)
$2.16 billion
Market value forecast to 2031 (USD)
$4.16 billion
Compound Annual Growth Rate
8.5%
Target area
Europe
Featured Companies
For more information on this report, please visit: https://www.researchandmarkets.com/r/5ihsn7
About ResearchAndMarkets.com
ResearchAndMarkets.com is a leading global source of international market research reports and market data providing the latest information on international markets, regional markets, key industries, top companies, new products and latest trends.
Attachments
Contact Information: Contact Us: ResearchAndMarkets.com Laura Wood, Sr. Press Manager [email protected] For EST office hours, please call 1-917-300-0470 For US/Canada toll free, please call 1-800-526-8630 For GMT office hours, please call +353-1-416-8900
Source link
