Procurement-as-a-Service Market Growing at 12.5% CAGR | Reach USD 20 Billion by 2031 Globally
WILMINGTON, DE, UNITED STATES, July 28, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, ” Procurement-as-a-Service Market Growing at 12.5% CAGR | Reach USD 20 Billion by 2031 Globally.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global Procurement-as-a-Service market size was valued at USD 6.2 billion in 2021, and is projected to reach USD 20 billion by 2031, growing at a CAGR of 12.5% from 2022 to 2031.
Driving Factors Procurement-as-a-Service Market
Procurement management software offers better visibility and with cross functional access among to organizations, increase in need for effective demand and supply management solutions, significant surge in need to improve supply chain visibility and the desire for better transparency of orders and shipment information drive the growth of the global procurement-as-a-service market. Surge in demand for work from home and remote working policies during the pandemic positively impacted the market growth.
Download Sample Report (Get Full Insights in PDF – 343 Pages) at: https://www.alliedmarketresearch.com/request-sample/A09143
Market Segmentation Procurement-as-a-Service Market
The procurement-as-a-service market is segmented on the basis of component, organization size, industry vertical, and region. On the basis of component, the industry is divided into strategic sourcing, spend management, process management, category management, contract management, and transaction management. Based on organization size, the market is bifurcated into large enterprises and small and medium enterprises. The industry vertical covered in the study include BFSI, manufacturing, retail, IT and telecom, healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players Procurement-as-a-Service Market
The key players analyzed in the global procurement-as-a-service market report include Aegis One Consults Ltd, CA Technologies, Capgemini, Corbus India LLP, F-code, Genpact, HCL Technologies Limited, IBM Corporation, Infosys Limited, Proxima Group, TATA Consultancy Services, Wipro, WNS Global, X Changing Solutions, GEP, Simfoni Limited.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A09143
Based on region, the market across North America held the dominating market share in 2021, holding around two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 16.8% during the forecast period.
Based on component, the strategic sourcing segment held the largest market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The transaction management segment, on the other hand, is expected to cite the fastest CAGR of 16.0% during the forecast period.
Based on industry vertical, the manufacturing segment held the lion’ share in 2021, holding nearly one-fourth of the global market. The retail segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 14.8% during the forecast period.
Procure Complete Report and Get Exclusive Discount at (343 Pages PDF with Insights, Charts, Tables, and Figures) : https://www.alliedmarketresearch.com/procurement-as-a-service-paas-market/purchase-options
COVID-19 Scenario: Procurement-as-a-Service Market
● The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global procurement-as-a-service market, owing to the occurrence of lockdowns in various countries across the globe.
● Lockdowns resulted in the closure of various commercial work places and businesses due to the stringent social distancing restrictions imposed by the government.
● Thus, people and companies across the globe were increasingly inclining towards remote working and work-from-home standards, which significantly boosted the growth of the market.
● Moreover, with the outbreak of COVID-19, businesses have been forced to shift their attention and increase their online presence, needing to rely on digital solutions more than ever post the pandemic. Therefore, the market is expected to grow exponentially in the coming years.
Thanks for reading this article; you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Other Trending Reports:
Network Management Solutions Market
Hosting Infrastructure Services Market
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles Avenue. An e-access library is accessible from any device anywhere and at any time for entrepreneur’s stakeholder’s researchers and students at universities. With reports on more than 60000 niche markets with data comprising of 600000 pages along with company profiles on more than 12000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
The global Procurement-as-a-Service market size was valued at USD 6.2 billion in 2021, and is projected to reach USD 20 billion by 2031, growing at a CAGR of 12.5% from 2022 to 2031.
Driving Factors Procurement-as-a-Service Market
Procurement management software offers better visibility and with cross functional access among to organizations, increase in need for effective demand and supply management solutions, significant surge in need to improve supply chain visibility and the desire for better transparency of orders and shipment information drive the growth of the global procurement-as-a-service market. Surge in demand for work from home and remote working policies during the pandemic positively impacted the market growth.
Download Sample Report (Get Full Insights in PDF – 343 Pages) at: https://www.alliedmarketresearch.com/request-sample/A09143
Market Segmentation Procurement-as-a-Service Market
The procurement-as-a-service market is segmented on the basis of component, organization size, industry vertical, and region. On the basis of component, the industry is divided into strategic sourcing, spend management, process management, category management, contract management, and transaction management. Based on organization size, the market is bifurcated into large enterprises and small and medium enterprises. The industry vertical covered in the study include BFSI, manufacturing, retail, IT and telecom, healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players Procurement-as-a-Service Market
The key players analyzed in the global procurement-as-a-service market report include Aegis One Consults Ltd, CA Technologies, Capgemini, Corbus India LLP, F-code, Genpact, HCL Technologies Limited, IBM Corporation, Infosys Limited, Proxima Group, TATA Consultancy Services, Wipro, WNS Global, X Changing Solutions, GEP, Simfoni Limited.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A09143
Based on region, the market across North America held the dominating market share in 2021, holding around two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 16.8% during the forecast period.
Based on component, the strategic sourcing segment held the largest market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The transaction management segment, on the other hand, is expected to cite the fastest CAGR of 16.0% during the forecast period.
Based on industry vertical, the manufacturing segment held the lion’ share in 2021, holding nearly one-fourth of the global market. The retail segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 14.8% during the forecast period.
Procure Complete Report and Get Exclusive Discount at (343 Pages PDF with Insights, Charts, Tables, and Figures) : https://www.alliedmarketresearch.com/procurement-as-a-service-paas-market/purchase-options
COVID-19 Scenario: Procurement-as-a-Service Market
● The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global procurement-as-a-service market, owing to the occurrence of lockdowns in various countries across the globe.
● Lockdowns resulted in the closure of various commercial work places and businesses due to the stringent social distancing restrictions imposed by the government.
● Thus, people and companies across the globe were increasingly inclining towards remote working and work-from-home standards, which significantly boosted the growth of the market.
● Moreover, with the outbreak of COVID-19, businesses have been forced to shift their attention and increase their online presence, needing to rely on digital solutions more than ever post the pandemic. Therefore, the market is expected to grow exponentially in the coming years.
Thanks for reading this article; you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Other Trending Reports:
Network Management Solutions Market
Hosting Infrastructure Services Market
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles Avenue. An e-access library is accessible from any device anywhere and at any time for entrepreneur’s stakeholder’s researchers and students at universities. With reports on more than 60000 niche markets with data comprising of 600000 pages along with company profiles on more than 12000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
David Correa
Allied Market Research
+ 1 800-792-5285
email us here
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