Product Code: ETC13347916 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Sachin Kumar Rai | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Procurement as a Service Market was valued at USD 7.5 Billion in 2024 and is expected to reach USD 15.1 Billion by 2031, growing at a compound annual growth rate of 5.60% during the forecast period (2025-2031).
The Global Procurement as a Service Market is experiencing significant growth driven by the increasing adoption of cloud-based procurement solutions, cost reduction initiatives, and the need for efficient procurement processes among organizations. This market offers a range of services including strategic sourcing, spend analysis, supplier management, and contract management provided by third-party service providers. Factors such as the growing complexity of supply chains, the need for compliance and risk management, and the focus on digital transformation are driving the demand for Procurement as a Service solutions. Key players in the market are offering customized solutions to cater to the specific needs of different industries, further fueling market expansion. With the trend towards outsourcing non-core functions, the Procurement as a Service market is expected to continue its growth trajectory in the coming years.
The Global Procurement as a Service market is experiencing significant growth due to the increasing adoption of cloud-based procurement solutions by businesses looking to streamline their procurement processes. Major trends in the market include the rising demand for cost-effective procurement solutions, the integration of advanced technologies such as AI and machine learning to enhance procurement efficiency, and the shift towards strategic sourcing to drive better supplier relationships and cost savings. Opportunities in the market lie in the growing need for digital transformation in procurement functions, the expansion of e-commerce and online platforms for procurement services, and the increasing focus on sustainability and ethical sourcing practices. Overall, the Global Procurement as a Service market is poised for steady expansion driven by the need for efficient and innovative procurement solutions.
In the Global Procurement as a Service market, several challenges are being faced. One major challenge is the complexity of global supply chains, which can make it difficult for companies to effectively manage and optimize their procurement processes. Additionally, ensuring compliance with various regulations and standards across different regions can be a daunting task for organizations operating on a global scale. Another challenge is the increasing competition in the market, leading to pricing pressures and the need for procurement service providers to differentiate themselves through innovative solutions and added value services. Moreover, the rapid pace of technological advancements requires companies to continuously adapt and invest in cutting-edge procurement tools and platforms to stay ahead of the competition. Overall, navigating these challenges requires a strategic approach and a deep understanding of the global procurement landscape.
The Global Procurement as a Service Market is being driven primarily by the increasing focus of organizations on cost reduction and efficiency improvement in their procurement processes. Companies are increasingly turning to Procurement as a Service providers to streamline their procurement operations, leverage advanced technologies such as artificial intelligence and automation, and access specialized expertise to achieve cost savings and enhance operational performance. Additionally, the growing trend of digital transformation across industries is fueling the demand for Procurement as a Service solutions as businesses seek to digitize their procurement functions for better visibility, compliance, and strategic decision-making. The flexibility, scalability, and cost-effectiveness offered by Procurement as a Service models are also contributing to the market growth as organizations look for agile solutions to adapt to changing business environments.
Government policies related to the Global Procurement as a Service Market vary by country, but generally focus on promoting fair competition, transparency, and efficiency in public procurement processes. Many governments have implemented regulations to ensure that procurement decisions are made based on objective criteria, with an emphasis on cost-effectiveness and quality. Additionally, some countries have introduced measures to encourage the use of technology and innovation in procurement practices, aiming to streamline processes and reduce administrative burdens. Compliance with labor and environmental standards is also a key consideration in government procurement policies, as authorities seek to promote sustainability and social responsibility in supplier relationships. Overall, government policies in the Global Procurement as a Service Market aim to create a level playing field for businesses while ensuring that public funds are spent wisely and responsibly.
The Global Procurement as a Service Market is poised for significant growth in the coming years, driven by the increasing adoption of digital transformation strategies by organizations to streamline their procurement processes and reduce costs. The market is expected to witness a surge in demand as businesses seek to leverage the expertise and technology offered by procurement service providers to enhance efficiency and operational performance. Factors such as the rising complexity of supply chains, globalization of businesses, and the need for strategic sourcing solutions are also contributing to the market`s growth. Additionally, the ongoing advancements in technologies such as artificial intelligence, machine learning, and automation are expected to further propel the market expansion by enabling more intelligent and data-driven procurement decisions.
In the Global Procurement as a Service market, Asia Pacific is expected to witness significant growth due to the increasing adoption of digital technologies and the growing emphasis on cost efficiency in procurement processes. North America is anticipated to dominate the market, driven by the presence of major market players and the early adoption of advanced procurement solutions. Europe is also poised for substantial growth, fueled by the rising need for streamlining procurement operations and improving supply chain visibility. The Middle East and Africa region is projected to experience steady growth as organizations focus on enhancing operational efficiency. Latin America is expected to show moderate growth, with the increasing awareness of the benefits of procurement as a service solutions among businesses in the region.
Global Procurement as a Service Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Procurement as a Service Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Procurement as a Service Market Revenues & Volume, 2021 & 2031F |
3.3 Global Procurement as a Service Market - Industry Life Cycle |
3.4 Global Procurement as a Service Market - Porter's Five Forces |
3.5 Global Procurement as a Service Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Procurement as a Service Market Revenues & Volume Share, By Service Model, 2021 & 2031F |
3.7 Global Procurement as a Service Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.8 Global Procurement as a Service Market Revenues & Volume Share, By Delivery Mode, 2021 & 2031F |
3.9 Global Procurement as a Service Market Revenues & Volume Share, By End User, 2021 & 2031F |
3.10 Global Procurement as a Service Market Revenues & Volume Share, By Contract Type, 2021 & 2031F |
4 Global Procurement as a Service Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Procurement as a Service Market Trends |
6 Global Procurement as a Service Market, 2021 - 2031 |
6.1 Global Procurement as a Service Market, Revenues & Volume, By Service Model, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Procurement as a Service Market, Revenues & Volume, By Cloud-Based, 2021 - 2031 |
6.1.3 Global Procurement as a Service Market, Revenues & Volume, By On-Premise, 2021 - 2031 |
6.1.4 Global Procurement as a Service Market, Revenues & Volume, By Managed Services, 2021 - 2031 |
6.2 Global Procurement as a Service Market, Revenues & Volume, By Application, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Procurement as a Service Market, Revenues & Volume, By On-Demand, 2021 - 2031 |
6.2.3 Global Procurement as a Service Market, Revenues & Volume, By SaaS, 2021 - 2031 |
6.2.4 Global Procurement as a Service Market, Revenues & Volume, By E-Procurement, 2021 - 2031 |
6.3 Global Procurement as a Service Market, Revenues & Volume, By Delivery Mode, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Procurement as a Service Market, Revenues & Volume, By Subscription, 2021 - 2031 |
6.3.3 Global Procurement as a Service Market, Revenues & Volume, By Pay-per-use, 2021 - 2031 |
6.3.4 Global Procurement as a Service Market, Revenues & Volume, By Hybrid, 2021 - 2031 |
6.4 Global Procurement as a Service Market, Revenues & Volume, By End User, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Procurement as a Service Market, Revenues & Volume, By Manufacturing, 2021 - 2031 |
6.4.3 Global Procurement as a Service Market, Revenues & Volume, By Retail, 2021 - 2031 |
6.4.4 Global Procurement as a Service Market, Revenues & Volume, By Healthcare, 2021 - 2031 |
6.5 Global Procurement as a Service Market, Revenues & Volume, By Contract Type, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Procurement as a Service Market, Revenues & Volume, By Long-term, 2021 - 2031 |
6.5.3 Global Procurement as a Service Market, Revenues & Volume, By Short-term, 2021 - 2031 |
6.5.4 Global Procurement as a Service Market, Revenues & Volume, By Project-based, 2021 - 2031 |
7 North America Procurement as a Service Market, Overview & Analysis |
7.1 North America Procurement as a Service Market Revenues & Volume, 2021 - 2031 |
7.2 North America Procurement as a Service Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Procurement as a Service Market, Revenues & Volume, By Service Model, 2021 - 2031 |
7.4 North America Procurement as a Service Market, Revenues & Volume, By Application, 2021 - 2031 |
7.5 North America Procurement as a Service Market, Revenues & Volume, By Delivery Mode, 2021 - 2031 |
7.6 North America Procurement as a Service Market, Revenues & Volume, By End User, 2021 - 2031 |
7.7 North America Procurement as a Service Market, Revenues & Volume, By Contract Type, 2021 - 2031 |
8 Latin America (LATAM) Procurement as a Service Market, Overview & Analysis |
8.1 Latin America (LATAM) Procurement as a Service Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Procurement as a Service Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Procurement as a Service Market, Revenues & Volume, By Service Model, 2021 - 2031 |
8.4 Latin America (LATAM) Procurement as a Service Market, Revenues & Volume, By Application, 2021 - 2031 |
8.5 Latin America (LATAM) Procurement as a Service Market, Revenues & Volume, By Delivery Mode, 2021 - 2031 |
8.6 Latin America (LATAM) Procurement as a Service Market, Revenues & Volume, By End User, 2021 - 2031 |
8.7 Latin America (LATAM) Procurement as a Service Market, Revenues & Volume, By Contract Type, 2021 - 2031 |
9 Asia Procurement as a Service Market, Overview & Analysis |
9.1 Asia Procurement as a Service Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Procurement as a Service Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Procurement as a Service Market, Revenues & Volume, By Service Model, 2021 - 2031 |
9.4 Asia Procurement as a Service Market, Revenues & Volume, By Application, 2021 - 2031 |
9.5 Asia Procurement as a Service Market, Revenues & Volume, By Delivery Mode, 2021 - 2031 |
9.6 Asia Procurement as a Service Market, Revenues & Volume, By End User, 2021 - 2031 |
9.7 Asia Procurement as a Service Market, Revenues & Volume, By Contract Type, 2021 - 2031 |
10 Africa Procurement as a Service Market, Overview & Analysis |
10.1 Africa Procurement as a Service Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Procurement as a Service Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Procurement as a Service Market, Revenues & Volume, By Service Model, 2021 - 2031 |
10.4 Africa Procurement as a Service Market, Revenues & Volume, By Application, 2021 - 2031 |
10.5 Africa Procurement as a Service Market, Revenues & Volume, By Delivery Mode, 2021 - 2031 |
10.6 Africa Procurement as a Service Market, Revenues & Volume, By End User, 2021 - 2031 |
10.7 Africa Procurement as a Service Market, Revenues & Volume, By Contract Type, 2021 - 2031 |
11 Europe Procurement as a Service Market, Overview & Analysis |
11.1 Europe Procurement as a Service Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Procurement as a Service Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Procurement as a Service Market, Revenues & Volume, By Service Model, 2021 - 2031 |
11.4 Europe Procurement as a Service Market, Revenues & Volume, By Application, 2021 - 2031 |
11.5 Europe Procurement as a Service Market, Revenues & Volume, By Delivery Mode, 2021 - 2031 |
11.6 Europe Procurement as a Service Market, Revenues & Volume, By End User, 2021 - 2031 |
11.7 Europe Procurement as a Service Market, Revenues & Volume, By Contract Type, 2021 - 2031 |
12 Middle East Procurement as a Service Market, Overview & Analysis |
12.1 Middle East Procurement as a Service Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Procurement as a Service Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Procurement as a Service Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Procurement as a Service Market, Revenues & Volume, By Service Model, 2021 - 2031 |
12.4 Middle East Procurement as a Service Market, Revenues & Volume, By Application, 2021 - 2031 |
12.5 Middle East Procurement as a Service Market, Revenues & Volume, By Delivery Mode, 2021 - 2031 |
12.6 Middle East Procurement as a Service Market, Revenues & Volume, By End User, 2021 - 2031 |
12.7 Middle East Procurement as a Service Market, Revenues & Volume, By Contract Type, 2021 - 2031 |
13 Global Procurement as a Service Market Key Performance Indicators |
14 Global Procurement as a Service Market - Export/Import By Countries Assessment |
15 Global Procurement as a Service Market - Opportunity Assessment |
15.1 Global Procurement as a Service Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Procurement as a Service Market Opportunity Assessment, By Service Model, 2021 & 2031F |
15.3 Global Procurement as a Service Market Opportunity Assessment, By Application, 2021 & 2031F |
15.4 Global Procurement as a Service Market Opportunity Assessment, By Delivery Mode, 2021 & 2031F |
15.5 Global Procurement as a Service Market Opportunity Assessment, By End User, 2021 & 2031F |
15.6 Global Procurement as a Service Market Opportunity Assessment, By Contract Type, 2021 & 2031F |
16 Global Procurement as a Service Market - Competitive Landscape |
16.1 Global Procurement as a Service Market Revenue Share, By Companies, 2024 |
16.2 Global Procurement as a Service Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |