Procurement as a Service Market to Hit US$ 16.74Bn by 2033, Driven by Digital Transformation & Enterprise Efficiency | Key Players: GEP, IBM, Coupa, Genpact, WNS Procurement, Infosys Limited, Capgemini, Wipro

The Procurement as a Service Market research study provides critical market data, such as growth-influencing factors, roadblocks, and opportunities and strategies for overcoming them. The study also includes industry data, such as market value, share, CAGR, size, and so on, to make market research easier for new entrants. The research also examines the economy, society, law, and the environment. The global Procurement as a Service Market research report utilizes both primary and secondary data sources. Government laws, market circumstances, competitive levels, historical data, market status, anticipated changes in linked firms, market volatility, and prospects are just a few of the industry-affecting elements studied during the research process.

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The global procurement as a service market reached US$6.30 billion in 2023, with a rise to US$6.87 billion in 2024, and is expected to reach US$16.74 billion by 2033, growing at a CAGR of 10.4% during the forecast period 2025-2033.

The list of Key Players Profiled in the study includes:- GEP, IBM, Coupa, Genpact, WNS Procurement, Infosys Limited, Capgemini, Wipro, and HCL Technologies Limited.

United States: Recent Industry Developments

✅ In July 2025, GEP partnered with Fortune 500 companies to roll out cloud-based PaaS solutions across North America. The initiative focuses on cost reduction, real-time analytics, and sustainable procurement practices.

✅ In June 2025, IBM launched a blockchain-enabled procurement service for U.S. manufacturers. The solution enhances transparency, traceability, and efficiency across supplier networks.

Japan: Recent Industry Developments

✅ In August 2025, Rakuten Group introduced a Procurement as a Service platform tailored for Japanese SMEs. The service leverages AI to streamline supplier selection and improve cost efficiency.

✅ In July 2025, NEC Corporation integrated sustainability analytics into its PaaS solutions for Japanese corporations. The platform enables businesses to track carbon footprint across supply chains.

✅ In May 2025, Hitachi launched a cloud-based procurement service for Japan's automotive and electronics industries. The system enhances supplier collaboration and accelerates digital transformation.

Procurement as a Service (PaaS) provides outsourced purchasing solutions using digital platforms, analytics, and supplier networks to optimize sourcing and cost management. The market is growing as enterprises seek efficiency and scalability. In the U.S., 2025 trends include rising adoption across healthcare, manufacturing, and government agencies, with providers integrating AI-driven spend analytics and sustainability-focused supplier sourcing.

Market Dynamics:

✅Driver: Growing need for cost efficiency and streamlined supply chain operations drives demand for outsourced procurement services.
✅Restraints: Data security concerns and dependency on third-party providers limit adoption.
✅Opportunities: AI, automation, and analytics integration enhance transparency and efficiency in procurement.
✅Challenges: Vendor risk management and regulatory compliance create operational challenges.

Segmentation Analysis of the Market:

Global Procurement as a Service Market forecast report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market. Procurement as a Service Market, By Component (Strategic Sourcing, Procure-to-Pay (P2P), Contract Management, Supplier Management, Category Management, Spend Analysis & Reporting), By Enterprise Size (SME's, Large Enterprises), By End-User (IT & Telecom, Manufacturing, Retail & E-commerce, Healthcare, BFSI, Government, Others)

Research Methodology:

- Primary Research: This method involves collecting new and original data for a specific purpose. Primary research is often conducted through surveys, interviews, focus groups, and observation. It enables researchers to obtain first-hand information directly from the target audience, which is especially useful when researching a new or emerging market.

- Secondary Research: This method involves analyzing and synthesizing existing data from various sources such as industry reports, government publications, academic research, and online databases. Secondary research can provide researchers with valuable insights into industry trends, consumer behavior, and Procurement as a Service market size and growth, without the need for extensive data collection.

Most research studies use a combination of both primary and secondary research methods to ensure comprehensive and accurate data analysis. The specific methodology used in a Procurement as a Service market research study will depend on various factors such as the research objectives, the target audience, and the available resources.

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Regional Outlook:

The following section of the report offers valuable insights into different regions and the key players operating within each of them. To assess the growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered. The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research. This information is intended to assist readers in determining the potential value of an investment in a particular region.

North America (U.S., Canada, Mexico)

Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

South America (Brazil, Argentina, Rest of SA)

Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

The Report Includes:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Go-to-market Strategy.
➡ Neutral perspective on the market performance.
➡ Customized regional/country reports as per request and country level analysis.
➡ Potential & niche segments and regions exhibiting promising growth covered.

The major points covered in the table of contents:

📌 Overview: This part provides a summary of the report, as well as a broad overview of the global Procurement as a Service Market, to offer an understanding of the nature and contents of the research study.

📌 Market Analysis: The research forecasts the market share of key segments of the Procurement as a Service Market with accuracy and reliability. This study may be used by industry participants to make strategic investments in key growth areas of the Procurement as a Service Market.

📌 Analysis of Leading Players' Strategies: This report can be used by market participants to acquire a competitive advantage over their rivals in the Procurement as a Service Market.

📌 Regional Growth Analysis: The report covers all of the key areas and countries. The regional analysis will assist market players in tapping into untapped regional markets, developing unique regional strategies, and comparing the growth of all regional markets.

📌 Market Forecasts: Report purchasers will get access to precise and validated estimations of the entire market size in terms of both value and volume. The study also includes estimates for the Procurement as a Service Market in terms of consumption, production, sales, and other factors.

Benefits of Procurement as a Service Market Reports:

➟ Make informed decisions: The growth of an organization depends on decisions made by management. Using our market research reports, management can make business decisions based on the results obtained that support their knowledge and experience. Procurement as a Service Market research helps to understand market trends and is therefore often performed to gain insight into customers.

➟ Get Accurate Information: Our market research provides true and accurate information, preparing organizations for any future mistakes that may occur.

➟ help you choose the right sales system: choose the precise sales system according to the Procurement as a Service market demand, to position the product/service in the market.

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The report answers a number of crucial questions, including:

- Which companies dominate the global Procurement as a Service market?

- What current trends will influence the market over the next few years?

- What are the market's opportunities, obstacles, and driving forces?

- What predictions for the future can help with strategic decision-making?

- What advantages does market research offer businesses?

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