Global Procurement as a Service Market soar to US$16.74 billion by 2033 at a CAGR of 10.4%, North America led 32.7% global market share, key players- , GEP, IBM, Coupa, Genpact

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 global Procurement as a Service market is witnessing steady expansion, driven by growing demand across industries including manufacturing, automotive, electronics, and healthcare. PaaS solutions are increasingly being adopted to streamline procurement processes, optimize supply chain operations, and achieve cost efficiencies. Growth is further fueled by technological advancements such as AI-driven predictive procurement, cloud-based platforms, and automation, alongside strategic collaborations, mergers, and acquisitions among procurement service providers.

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Global Procurement as a Service Market: Industry Outlook:-
→ The US leads the Procurement as a Service market, driven by adoption among large enterprises seeking enhanced procurement efficiency and cost optimization. For instance, Arkestro, the leading predictive procurement platform accelerating enterprise-scale procurement, announced a multi-year partnership with Valvoline Inc., a trusted leader in preventive automotive maintenance. Through this collaboration, Valvoline leveraged Arkestro's platform to improve speed, simplicity, and efficiency, achieving measurable cost reductions across both product and service categories. Supported by strong technological capabilities, robust enterprise adoption, and innovative platform providers, the US continues to dominate market growth.

→ Japan is emerging as a key market, focusing on expanding its procurement capabilities through strategic acquisitions and partnerships.Misumi Group announced its agreement to acquire Fictiv, a US-based provider of online parts procurement services, at an estimated total cost of US$350 million (approximately JPY 50.1 billion). Misumi plans to make Fictiv a wholly owned subsidiary via its US arm by June 2025, reflecting Japan's strategic push to enhance global procurement capabilities. This acquisition underscores the country's commitment to modernizing procurement operations and adopting advanced PaaS solutions for both domestic and international supply chains.

Recent M&A :-
→ Misumi Group acquired Fictiv for $350 million by June 2025 to strengthen global procurement capabilities.

→ Capgemini acquired WNS in a notable transaction that occurred in Q3 2025, targeting data, AI, and cloud transformation capabilities.

→ Carlyle acquired Adastra as part of the Q3 2025 tech services M&A activities, also driven by demand for AI and cloud integration.

→ Bain Capital acquired HSO during Q3 2025, which was another significant deal in the technology services sector.

→ Emirates NBD announced the acquisition of a controlling stake in RBL Bank for approximately $3 billion through a primary infusion in early Q4 2025.

→ International Holding Company invested $1 billion for a 43% stake in Samman Capital in September 2025, marking the largest private equity transaction in Q3 in the Indian non-banking financial services sector.

The global procurement as a service market report delivers a detailed analysis with 62 key tables, more than 58 visually impactful figures, and 195 pages of expert insights, providing a complete view of the market landscape.

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Market Segmenatation-

→ 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 insights:-
→ North America accounted for approximately 32.7% of the global Procurement as a Service market and is expected to retain its dominance throughout the forecast period. This leadership is supported by strong enterprise adoption, robust technological capabilities, and strategic investments in procurement transformation. For instance, The Hackett Group, Inc., a leading generative artificial intelligence (Gen AI) consultancy and executive advisory firm, released its 2025 Digital World Class Procurement research, highlighting how leading procurement organizations are navigating market volatility and redefining their role within enterprises. Initiatives such as these underscore North America's continued focus on optimizing procurement processes and leveraging advanced PaaS platforms to drive efficiency and cost savings.

→ Asia-Pacific is projected to be the fastest-growing region, driven by rising investments in digital procurement solutions, supply chain modernization, and automation. Japan, in particular, is strengthening its procurement capabilities through strategic acquisitions, such as its ongoing agreement in which Misumi Group is acquiring Fictiv, a US-based provider of online parts procurement services. This acquisition, valued at approximately USD 350 million (JPY 50.1 billion), is making Fictiv a wholly owned subsidiary via Misumi's US arm by June 2025, reflecting the country's commitment to continuously enhancing procurement efficiency and expanding global operational reach.

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Competitive Landscape
→ The major players in the procurement as a service market include - GEP, IBM, Coupa, Genpact, WNS Procurement, Infosys Limited, Capgemini, Wipro, and HCL Technologies Limited.

IBM is a key global player in the Procurement-as-a-Service market, offering end-to-end digital procurement solutions through IBM Consulting, IBM Supply Chain, and IBM Watsonx AI. IBM provides strategic sourcing, spend analytics, supplier risk management, contract management, and category expertise.

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