Procurement as a Service Market is expected to reach US$ 16.74 billion by 2033 | Top key players - GEP, IBM, Coupa, Genpact.

Market Size and Growth:

The Global Procurement as a Service Market Size 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 Market is growing due to rising adoption of digital procurement solutions and increasing demand for cost-efficient, scalable sourcing models across industries. According to DataM Intelligence Report.

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The Procurement as a Service Market refers to outsourced procurement solutions where third-party providers manage strategic sourcing, category management, supplier management, and transactional purchasing for organizations. It helps businesses reduce costs, enhance efficiency, and improve supplier performance through analytics, automation, and expert-driven processes. This service-driven model enables scalable, flexible, and technology-enabled procurement operations.

United States: Recent Developments of Procurement as a Service Market

✅ October 2025: IBM launched cloud-based procurement as a service solutions focusing on AI-driven supplier risk management.​

✅ September 2025: Oracle expanded its PaaS offerings to automate end-to-end procurement workflows for enterprise clients.​

✅ August 2025: Major retailers adopted PaaS platforms to optimize procurement costs and improve supplier collaboration.

Japan: Recent Developments of Procurement as a Service Market

✅ October 2025: Fujitsu introduced integrated procurement services leveraging IoT and blockchain for enhanced transparency.​

✅ September 2025: NEC partnered with logistics firms to deliver customized procurement as a service for manufacturing sectors.​

✅ August 2025: Japanese enterprises increased adoption of PaaS to support supply chain digitization and agility.

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Major Players:

Key companies in the Procurement as a Service market include:

GEP
IBM
Coupa
Genpact
WNS Procurement
Infosys Limited
Capgemini
Wipro
HCL Technologies Limited

Market Growth Drivers:

✅ Cost Optimization and Efficiency: Businesses increasingly outsource procurement to specialized PaaS providers for significant savings through better sourcing, supplier management, and spend analytics, especially among large enterprises with high procurement volumes.​

✅ Digital Transformation and Tech Adoption: Integration of AI, automation, machine learning, and cloud platforms streamlines procurement processes, enhances scalability, and enables real-time data insights, driving adoption across industries like manufacturing.​

✅ Outsourcing Non-Core Functions: Companies focus on core competencies by delegating procurement to experts, supported by rising needs for compliance, ESG standards, and supply chain resilience amid global complexities.

Segments Covered in the 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.

Regional Analysis for Procurement as a Service Market:

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

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Procurement as a Service market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Procurement as a Service Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Procurement as a Service market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Procurement as a Service Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Procurement as a Service market?

➠ Who are the global key manufacturers of the Procurement as a Service Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Procurement as a Service market opportunities and threats faced by the vendors in the global Procurement as a Service Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Procurement as a Service market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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