The global procurement as a service market attained a value of USD 6.71 Billion in 2024. The industry is further expected to grow in the forecast period of 2025-2034 at a CAGR of 8.10% to reach USD 14.62 Billion by 2034. The industry is being driven by the increasing demand for minimising procurement operations costs in an organisation.
Based on its end-use, the manufacturing industry is showing significant growth due to the increasing competition and rising demand for efficient cost-saving technology. North America leads the industry due to the rising adoption of procurement outsourcing by multiple vendors in the region for improving procurement operations.
Market Segmentation
The procurement as a service market can be broadly categorised based on:
Market Breakup by Component
- Strategic Sourcing
- Spend Management
- Category Management
- Process Management
- Contract Management
- Transactions Management
Market Breakup by Organization Size
- Small and Medium-Sized Enterprises
- Large Enterprises
Market Breakup by End Use
- Manufacturing
- Retail and Consumer Packaged Goods
- Banking, Financial Services, and Insurance
- IT and Telecom
- Energy and Utilities
- Travel and Hospitality
- Healthcare
- Others
Market Breakup by Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Market Analysis
The global procurement as a service market is being driven by the high adoption of advanced technologies and growing complexities in the procurement process. Strategic sourcing segment is driving the industry as it helps in balancing the quality and price of goods and services.Based on its end-use, the manufacturing industry is showing significant growth due to the increasing competition and rising demand for efficient cost-saving technology. North America leads the industry due to the rising adoption of procurement outsourcing by multiple vendors in the region for improving procurement operations.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global procurement as a service market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:- Accenture Plc (NYSE: ACN)
- Infosys Limited (NYSE: INFY)
- Gauteng Enterprise Propeller
- Genpact Ltd. (NYSE: G)
- Proxima Group (buyingTeam Ltd.)
- WNS (Holdings) Ltd. (NYSE: WNS)
- Capgemini SE (EPA: CAP)
- International Business Machines Corp. (NYSE: IBM)
- Wipro Limited (NSE: WIPRO)
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Procurement as a Service Market Analysis
6 North America Procurement as a Service Market Analysis
7 Europe Procurement as a Service Market Analysis
8 Asia-Pacific Procurement as a Service Market Analysis
9 Latin America Procurement as a Service Market Analysis
10 Middle East and Africa Procurement as a Service Market Analysis
11 Market Dynamics
13 Competitive Landscape
Companies Mentioned
The key companies featured in this Procurement as a Service market report include:- Accenture Plc
- Infosys Limited
- Gauteng Enterprise Propeller
- Genpact Ltd.
- Proxima Group
- Capgemini SE
- WNS (Holdings) Ltd.
- International Business Machines Corporation
- Wipro Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 169 |
| Published | August 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 6.71 Billion |
| Forecasted Market Value ( USD | $ 14.62 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
