Asia Pacific Retail Sourcing And Procurement Market Size, Share & Trends Analysis Report By Deployment (Cloud and On-premise), By Component, By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Country and Growth Forecast, 2024 - 2031

Analysis of Market Size & Trends

The Asia Pacific Retail Sourcing And Procurement Market would witness market growth of 16.3% CAGR during the forecast period (2024-2031).

The China market dominated the Asia Pacific Retail Sourcing And Procurement Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,141.7 Million by 2031. The Japan market is registering a CAGR of 15.6% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 17.1% during (2024 - 2031).

Compliance and risk management complexities increasingly shape this market. With retailers sourcing from a vast network of suppliers, they must navigate diverse regulations and standards that vary by region. These standards cover labor practices, environmental protections, product safety, and ethical sourcing requirements, which retailers must meet to avoid legal issues, protect their reputations, and prevent financial losses.

Advanced procurement tools have become critical in helping retailers address these compliance challenges. These tools provide features such as compliance tracking, automated reporting, and audit trails, allowing retailers to monitor and verify supplier practices efficiently. For example, compliance tracking can automatically update retailers on relevant regulatory changes or flag areas of potential non-compliance, while audit trails provide transparent records for accountability.

Australia's landscape increasingly focuses on sustainable practices and supply chain resilience. Australian retailers invest in data-driven procurement solutions to enhance transparency and ethical sourcing, reflecting consumer demands for environmentally responsible practices. The Australian government supports this trend through the “Modern Manufacturing Strategy,” which promotes local sourcing and supply chain resilience. Government grants and programs under this strategy encourage retailers to adopt procurement solutions that align with sustainable and ethical standards. Therefore, with governments actively promoting digital transformation and resilience in supply chains, the Asia Pacific retail sourcing and procurement market is well-positioned for significant growth.

Free Valuable Insights: The Global Retail Sourcing And Procurement Market is Predict to reach USD 14.5 Billion by 2031, at a CAGR of 15.8%

Based on Deployment, the market is segmented into Cloud and On-premise. Based on Component, the market is segmented into Solution (Strategic Sourcing, Supplier Management, Contract Management, Procure-to-Pay (P2P), and Other Solution Type) and Service (Implementation, Consulting, and Other Service Type). Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

List of Key Companies Profiled

• Cegid Group
• Epicor Software Corporation
• GEP Software
• Infor, Inc. (Koch Industries)
• IBM Corporation
• Ivalua Inc.
• Blue Yonder Group, Inc. (Panasonic Holdings Corporation)
• Oracle Corporation
• SAP SE
• Coupa Software, Inc.

Asia Pacific Retail Sourcing And Procurement Market Report Segmentation

By Deployment

• Cloud
• On-premise

By Component

• Solution
  • Strategic Sourcing
  • Supplier Management
  • Contract Management
  • Procure-to-Pay (P2P)
  • Other Solution Type
• Service
  • Implementation
  • Consulting
  • Other Service Type

By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises

By Country

• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific