Spend Analytics Software Market Outlook:
Spend Analytics Software Market size was USD 3.3 billion in 2024 and is estimated to reach USD 12.8 billion by the end of 2034, expanding at a CAGR of 15.5% during the forecast period, i.e., 2025-2034. In 2025, the industry size of spend analytics software is estimated at USD 3.8 billion.
The trends and pricing shifts in the enterprise IT procurement and supply chain optimization tools are influencing the global trade of spend analytics software market. The stable flow of specialized raw materials and components is a pillar for the high sales of spend analytics software solutions. The U.S. Bureau of Economic Analysis states that the producer price index (PPI) for computer systems design and related services grew by 3.3% year-over-year in May 2024, reflecting high upstream pricing pressure from software development and integration costs. Also, the consumer price index (CPI) for information technology services increased by 2.4% during the same period, indicating elevated costs passed down to enterprise users.
The boom in IT service investments is also driving the deployment of spend analytics software solutions. The U.S. federal agency technology budgets collectively exceeded USD 78.5 billion in the fiscal year 2024. This reflects a rise in the adoption of technologies with analytics capabilities. The import/export dynamics also potentially influence the sales of spend analytics software solutions. According to the Census Bureau, the U.S. imports of telecommunications equipment crossed USD 59.0 billion in 2023. The booming cross-border trade and swift rise in the adoption of smart technologies are set to double the revenues of spend analytics software companies in the coming years.
