Procurement As A Service Market Size, Share, Industry Trends and Forecast to 2033
This report provides a comprehensive analysis of the Procurement As A Service market, offering insights into market trends, size, regional analysis, segmentation, and projections for the period 2023 - 2033.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $15.60 Billion |
| CAGR (2023-2033) | 7.3% |
| 2033 Market Size | $32.20 Billion |
| Top Companies | Accenture, Proxima, SAP Ariba, GEP |
| Last Modified Date | 15 Nov 2024 |
Procurement As A Service Market Report (2023 - 2033)
Procurement As A Service Market Overview
What is the Market Size & CAGR of Procurement As A Service market in 2023?
Procurement As A Service Industry Analysis
Procurement As A Service Market Segmentation and Scope
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Procurement As A Service Market Analysis Report by Region
Europe Procurement As A Service Market Report:
Europe's market is expected to grow significantly from $4.90 billion in 2023 to $10.11 billion by 2033. The focus on sustainability and regulatory compliance is leading organizations to seek efficient procurement solutions, boosting market demand.Asia Pacific Procurement As A Service Market Report:
In the Asia Pacific region, the Procurement As A Service market is poised for substantial growth, expanding from $2.98 billion in 2023 to $6.15 billion by 2033. The proliferation of digital technologies and increasing governmental support for business digitization initiatives are driving this growth.North America Procurement As A Service Market Report:
The North American market is anticipated to be the largest, reaching $10.89 billion in 2033 from $5.28 billion in 2023. High adoption rates of innovative technologies and an increase in the number of service providers in this region will contribute to its robust growth.South America Procurement As A Service Market Report:
The South American market is expected to experience moderate growth, rising from $0.41 billion in 2023 to $0.85 billion by 2033. Factors such as increasing globalization of supply chains and advancements in procurement technologies will drive the adoption of PaaS in this region.Middle East & Africa Procurement As A Service Market Report:
The Middle East and Africa market will grow from $2.03 billion in 2023 to $4.20 billion by 2033. Increasing investments in infrastructure and digital solutions across various sectors are creating a conducive environment for PaaS adoption in this region.Request a custom research report for industry.
Procurement As A Service Market Analysis By Service Type
Global Procurement-as-a-Service Market, By Service Type Market Analysis (2023 - 2033)
The market segmentation by service type includes procurement outsourcing, e-sourcing, and contract management. Procurement outsourcing is expected to dominate the market with a 62.51% share, while e-sourcing and contract management also play significant roles in enhancing procurement efficiency across various industries.
Procurement As A Service Market Analysis By Industry Vertical
Global Procurement-as-a-Service Market, By Industry Vertical Market Analysis (2023 - 2033)
Among industry verticals, the automotive sector leads with a market size of $7.23 billion in 2023, accounting for 46.32% of the overall market share. Healthcare follows closely, showcasing substantial growth potential, especially with advancements in digital health solutions.
Procurement As A Service Market Analysis By Technology
Global Procurement-as-a-Service Market, By Technology Market Analysis (2023 - 2033)
Cloud-based solutions dominate the technology segment, representing over 62.51% of the market share due to their scalability and flexibility. On-premises and hybrid solutions are slowly gaining traction as businesses explore different implementation strategies for procurement.
Procurement As A Service Market Analysis By Buyers
Global Procurement-as-a-Service Market, By Buyers Market Analysis (2023 - 2033)
Large enterprises represent the bulk of the customer base in the Procurement As A Service market, with a 87.29% share in terms of revenue. Small and medium enterprises are increasingly seeking outsourced procurement solutions to optimize their operations and drive growth.
Procurement As A Service Market Analysis By Key Player
Global Procurement-as-a-Service Market, By Key Player Market Analysis (2023 - 2033)
Key players in the Procurement As A Service space include major firms offering comprehensive solutions tailored to various industries. These companies are driving innovation in procurement through technology and service enhancements.
Procurement As A Service Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Procurement As A Service Industry
Accenture:
Accenture is a leading global professional services company providing consulting and technology services, with a strong focus on procurement solutions tailored for diverse industries.Proxima:
Proxima is an established procurement consultancy that specializes in providing strategic procurement services, helping clients improve purchasing efficiency and supplier relationships.SAP Ariba:
SAP Ariba offers cloud-based procurement solutions that facilitate efficient sourcing and spend management, empowering organizations to streamline procurement operations.GEP:
GEP is a global provider of procurement software and services, known for its innovative approach and strong service delivery across industries.We're grateful to work with incredible clients.
