Global Procurement as a Service Market Size, Share, and COVID-19 Impact Analysis, By Component (Process Management, Spend Management, Category Management, Contract Management, and Strategic Management), By Industry (BFSI, IT & Telecom, Manufacturing, Healthcare, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Global Procurement as a Service Market Insights Forecasts to 2035

• The Global Procurement as a Service Market Size Was Estimated at USD 7.5 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 11.89 % from 2025 to 2035
• The Worldwide Procurement as a Service Market Size is Expected to Reach USD 25.8 Billion by 2035
• Asia Pacific is expected to grow the fastest during the forecast period.

According to a research report published by Spherical Insights and Consulting, The Global Procurement as a service market size was worth around USD 7.5 billion in 2024 and is predicted to grow to around USD 25.8 billion by 2035 with a compound annual growth rate (CAGR) of 11.89% from 2025 to 2035. The procurement as a service market offers strong future opportunities driven by rising demand for cost optimization, digital procurement platforms, AI-driven analytics, supplier risk management, and scalable outsourcing across industries.

Market Overview

Procurement as a service is outsourcing the practical aspects of procurement such as sourcing, vendor management, contract negotiation, and spend analysis to third-party service organizations who specialize in each of these individual components of the procurement process. The sources of growth within the procurement as a service industry are rising demand for lower cost of procurement, more efficient operations, availability of digital procurement solutions, and a stronger supply chain resiliency within enterprises. Many governments around the world are producing new business models and policies to promote digital procurement through e-tendering, increased public awareness of the procurement process, and development of new methods to reduce corruption in public procurement. The impact of these developments has resulted in nearly 15%-20% of gross domestic product (GDP) in many Economies contributing to the creation of modernization initiatives. Recent advancements in the procurement process include increasing adoption of artificial intelligence (AI), cloud services for procurement, automation of purchasing functions, and technology-based decision making through strategies. As a result of these advancements, the role of procurement as a service will continue to grow and expand worldwide within both private and public sectors.

Report Coverage

This research report categorizes the procurement as a service market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the procurement as a service market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the procurement as a service market.    

Driving Factors   

The procurement as a service market is driven by increasing pressure on organizations to reduce procurement costs and improve operational efficiency. Rising adoption of digital procurement platforms, cloud technologies, and AI-based analytics is enabling better spend visibility and supplier management. Additionally, growing supply chain complexities, risk mitigation needs, and demand for scalable, flexible procurement models are encouraging enterprises to outsource non-core procurement functions while focusing on strategic business activities.

Restraining Factors   

The procurement as a service market faces restraints from data security and confidentiality concerns, resistance to outsourcing critical procurement functions, limited customization for complex organizations, integration challenges with legacy systems, and dependence on third-party service providers for strategic procurement decisions.

Market Segmentation       

The procurement as a service market share is classified into component and industry.     

• The strategic management segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period.            

Based on the Component, the procurement as a service market is divided into process management, spend management, category management, contract management, and strategic management. Among these, the strategic management segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period.  Strategic management dominated the procurement as a service market in 2024, accounting for approximately 32–35% of the total share, driven by strong demand for strategic sourcing, supplier risk mitigation, and long-term value creation. Meanwhile, category management, holding around 22–25% share, is expected to grow at a significant CAGR due to increasing adoption of AI-based spend analytics and category-level optimization strategies.

• The manufacturing segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.      

Based on the industry, the procurement as a service market is divided into BFSI, IT & telecom, manufacturing, healthcare, and others. Among these, the manufacturing segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The manufacturing segment accounted for the highest market revenue in 2024, contributing approximately 30–33% of the procurement as a service market, driven by complex supply chains, high spend volumes, and strong focus on cost optimization and supplier management.

Regional Segment Analysis of the Procurement as a Service Market

• North America (U.S., Canada, Mexico) Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the procurement as a service market over the predicted timeframe.        

North America is anticipated to hold the largest share of the procurement as a service market over the predicted timeframe. Due to its mature outsourcing ecosystem, advanced digital infrastructure, and early adoption of cloud, AI, and analytics-driven procurement platforms. The region hosts many leading procurement as a service providers and large enterprises that prioritize cost optimization, supplier risk management, and compliance. Additionally, strong regulatory frameworks, high IT spending, and continuous investment in digital transformation across manufacturing, BFSI, healthcare, and IT sectors further support sustained market dominance.

Asia Pacific is expected to grow at a rapid CAGR in the procurement as a service market during the forecast period. Due to rapid industrialization, expanding manufacturing and IT sectors, and increasing adoption of digital procurement platforms. Rising focus on cost optimization, growing SME participation, government-led digitalization initiatives, and improving cloud and analytics adoption across emerging economies such as China, India, and Southeast Asia are further accelerating market growth.

Competitive Analysis:     

The report offers the appropriate analysis of the key organizations/companies involved within the procurement as a service market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.   

List of Key Companies

• GEP
• Infosys Limited
• Dragon Sourcing
• SAP SE
• Genpact
• Kissflow Inc.
• Accenture plc.
• HCL Technologies Ltd.
• WNS (Holdings) Ltd
• Tata Consultancy Services Limited
• Total IT Global.
• Allegis Global Solutions
• Wipro, Inc.
• IBM Corporation
• CA Technologies
• Aegis Components Inc.
• Corbus LLC
• Bain & Company
• Hewlett Packard Enterprise Development LP
• Synise Technologies Ltd.
• Capgemini SE

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In December 2025, Anza has launched a new Transformer Procurement Service to streamline sourcing of medium- and high-voltage transformers for developers, utilities, and EPCs, offering greater transparency, supplier intelligence, and faster procurement processes in an historically opaque market. The service is led by industry veteran Felicity Lunden and aims to reduce lead times and pricing variability.

• In December 2025, Maryland has launched a new offshore wind procurement, advancing clean energy project development despite federal policy challenges. This effort aims to expand renewable capacity, stimulate economic growth, and support the U.S. offshore wind supply chain amid ongoing state-level commitment to wind power growth.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the procurement as a service market based on the below-mentioned segments:

Global Procurement as a Service Market, By Component  

• Process Management
• Spend Management
• Category Management
• Contract Management
• Strategic Management

Global Procurement as a Service Market, By Industry

• BFSI
• IT & Telecom
• Manufacturing
• Healthcare
• Others

Global Procurement as a Service Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa