Service Procurement

Service Procurement

Global Procurement as-a-Service Market to Reach $9.6 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Procurement as-a-Service estimated at US$5.2 Billion in the year 2020, is projected to reach a revised size of US$9.6 Billion by 2027, growing at a CAGR of 9.1% over the analysis period 2020-2027. Strategic Sourcing, one of the segments analyzed in the report, is projected to record a 10% CAGR and reach US$3.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Category Management segment is readjusted to a revised 9.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 8.4% CAGR

The Procurement as-a-Service market in the U.S. is estimated at US$1.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2027 trailing a CAGR of 8.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8% and 7.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7% CAGR.

Transactions Management Segment to Record 11.1% CAGR

In the global Transactions Management segment, USA, Canada, Japan, China and Europe will drive the 11.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$706.1 Million in the year 2020 will reach a projected size of US$1.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 41 Featured) -

• Beeline Inc.
• DCR Workforce
• Enlighta Inc.
• Field Nation, LLC.
• PeopleFluent
• PIXID SAS
• PRO Unlimited, Inc.
• Provade Inc.
• SAP Fieldglass
• Superior Talent
• TargetRecruit LLC.
• Upwork Global Inc.
• WorkMarket, Inc.

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