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Procurement as a Service Market Report and Forecast 2024-2032

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    Report

  • 190 Pages
  • November 2023
  • Region: Global
  • Expert Market Research
  • ID: 5921374
According to the report, the global procurement as a service market is projected to grow at a CAGR of 8.10% between 2024 and 2032 reaching a value of approximate USD 11.81 billion by 2032. Aided by the ever-evolving business landscape and the increasing need for organisations to streamline their purchasing processes, the market is expected to grow significantly by 2032.

Procurement as a Service is a comprehensive solution that combines the power of advanced technology with expertise in procurement processes. PaaS is not merely about outsourced purchasing; it's about transforming the procurement function and optimising an organisation's spend culture. This model provides an amalgamation of software, processes, and skilled human resources, ensuring efficient management of an organisation's procurement needs.

A primary catalyst for the global procurement as a service market growth is the rising complexity of supply chains. As businesses expand and diversify, the intricacy of their procurement operations escalates. With various stakeholders, multiple vendors, and an assortment of products and services to manage, companies are increasingly seeking streamlined solutions to ensure efficiency, transparency, and compliance. This is where PaaS steps in, offering an integrated approach to procurement, combining technological tools with industry expertise.

Furthermore, the surge in digital transformation across sectors is another pivotal factor boosting the procurement as a service market share. With the increasing emphasis on data analytics, artificial intelligence, and machine learning, companies are aiming to leverage these technologies in their procurement processes. PaaS providers, recognising this demand, are incorporating these advanced technologies into their offerings, ensuring that procurement decisions are data-driven, predictive, and optimised for cost savings.

The ongoing shift towards a variable cost model in businesses also augments the demand for PaaS. Instead of maintaining a dedicated in-house procurement team, companies are moving towards the PaaS model, converting fixed costs into variable ones. This not only provides financial flexibility but also ensures that companies have access to top-notch expertise and the latest technological solutions without heavy investments in training and infrastructure.

Moreover, the global shift towards sustainability is also influencing the procurement as a service market outlook. Companies are not just looking for cost-effective procurement solutions; they are seeking environmentally responsible and ethically sound procurement practices. Leading PaaS providers are integrating sustainability analytics into their platforms, aiding businesses in making green procurement decisions and aligning with their corporate social responsibility goals.

Market Segmentation

The market can be divided based on component, organisation size, end-use, and region.

Market Breakup by Component

  • Strategic Sourcing
  • Spend Management
  • Category Management
  • Process Management
  • Contract Management
  • Transactions Management

Market Breakup by Organisation 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

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global procurement as a service market. Some of the major players explored in the report are as follows:
  • Accenture Plc
  • Infosys Limited
  • Gauteng Enterprise Propeller
  • Genpact Ltd.
  • Proxima Group
  • Capgemini SE
  • WNS (Holdings) Ltd.
  • International Business Machines Corporation
  • Wipro Limited
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Procurement as a Service Market Analysis
8.1 Key Industry Highlights
8.2 Global Procurement as a Service Historical Market (2018-2023)
8.3 Global Procurement as a Service Market Forecast (2024-2032)
8.4 Global Procurement as a Service Market by Component
8.4.1 Strategic Sourcing
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Spend Management
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Category Management
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Process Management
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Contract Management
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Transactions Management
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.5 Global Procurement as a Service Market by Organization Size
8.5.1 Small and Medium Sized Enterprises
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Large Enterprises
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Procurement as a Service Market by End-use
8.6.1 Manufacturing
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Retail and Consumer Packaged Goods
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Banking, Financial Services, and Insurance
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 IT and Telecom
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Energy and Utilities
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Travel and Hospitality
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.6.7 Healthcare
8.6.7.1 Historical Trend (2018-2023)
8.6.7.2 Forecast Trend (2024-2032)
8.6.8 Others
8.7 Global Procurement as a Service Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Procurement as a Service Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Procurement as a Service Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Procurement as a Service Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.2 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Procurement as a Service Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Procurement as a Service Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Accenture Plc
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Infosys Limited
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Gauteng Enterprise Propeller
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Genpact Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Proxima Group
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Capgemini SE
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 WNS (Holdings) Ltd.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 International Business Machines Corporation
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Wipro Limited
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Procurement as a Service Market: Key Industry Highlights, 2018 and 2032
2. Global Procurement as a Service Historical Market: Breakup by Component (USD Million), 2018-2023
3. Global Procurement as a Service Market Forecast: Breakup by Component (USD Million), 2024-2032
4. Global Procurement as a Service Historical Market: Breakup by Organization Size (USD Million), 2018-2023
5. Global Procurement as a Service Market Forecast: Breakup by Organization Size (USD Million), 2024-2032
6. Global Procurement as a Service Historical Market: Breakup by End-use (USD Million), 2018-2023
7. Global Procurement as a Service Market Forecast: Breakup by End-use (USD Million), 2024-2032
8. Global Procurement as a Service Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Procurement as a Service Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Procurement as a Service Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Procurement as a Service Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Procurement as a Service Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Procurement as a Service Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Procurement as a Service Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Procurement as a Service Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Procurement as a Service Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Procurement as a Service Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Procurement as a Service Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Procurement as a Service Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Procurement as a Service Market Structure

Companies Mentioned

  • Accenture Plc (NYSE: ACN)
  • Infosys Limited (NYSE: INFY)
  • Gauteng Enterprise Propeller
  • Genpact Ltd.
  • Proxima Group
  • WNS (Holdings) Ltd. (NYSE: WNS)
  • Capgemini SE (EPA: CAP)
  • International Business Machines Corp. (NYSE: IBM)
  • Wipro Limited (NSE: WIPRO)

Methodology

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Table Information