eProcurement Market Trends

The e-procurement software applications market grew to almost $2 billion in 2000, up 160 percent from 1999, and is expected to exceed $12 billion in 2005. This explosive growth is being fueled by the rapid development of e-marketplaces, which are expected to capture more than half of all online business trade. Similarly, business-to-business and business-to-government fulfillment requirements and functionality will become increasingly critical, spurring further dramatic growth.