The global procurement as a service market attained a value of USD 6.71 billion in 2023. The industry is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.10% to reach USD 13.48 billion by 2032. The industry is being driven by the increasing demand for minimising procurement operations costs in an organisation.
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The procurement as a service market can be broadly categorised based on:
Market Breakup by Component
Market Breakup by Organization Size
Market Breakup by End Use
Market Breakup by Region
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The global procurement as a service market is being driven by the high adoption of advanced technologies and growing complexities in the procurement process. Strategic sourcing segment is driving the industry as it helps in balancing the quality and price of goods and services.
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Based on its end-use, the manufacturing industry is showing significant growth due to the increasing competition and rising demand for efficient cost-saving technology. North America leads the industry due to the rising adoption of procurement outsourcing by multiple vendors in the region for improving procurement operations.
The report presents a detailed analysis of the following key players in the global procurement as a service market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the global procurement as a service market by providing a SWOT analysis as well as an analysis of Porter’s five forces.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global procurement as a service market reached a value of USD 6.71 billion in 2023.
The market is expected to grow at a CAGR of about 8.10% in the forecast period of 2024-2032.
The market is expected to expand in the forecast period to reach USD 13.48 billion by 2032.
The major drivers aiding in the market development include the rising disposable incomes, high adoption of advanced technologies, and the growing complexities in the procurement process.
The growing need for enhancing procurement function, along with rising penetration of advanced technologies across multiple industry verticals, is expected to define the market growth in the coming years.
North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific are the major regions in the market.
The major components of procurement as a service are strategic sourcing, spend management, category management, process management, contract management, and transactions management.
The significant organisation sizes considered in the market report include small and medium-sized enterprises and large enterprises.
The various end-uses of procurement as a service in the market include manufacturing, retail and consumer packaged goods, banking, financial services, and insurance, IT and telecom, energy and utilities, travel and hospitality, and healthcare, among others.
The major players in the market are Accenture Plc, Infosys Limited, Gauteng Enterprise Propeller, Genpact Ltd., Proxima Group, WNS (Holdings) Ltd., Capgemini SE, International Business Machines Corp., and Wipro Limited, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Organization Size |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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