Global Procurement as a Service (PaaS) Market Growth (Status and Outlook) 2023-2029

Global Procurement as a Service (PaaS) Market Growth (Status and Outlook) 2023-2029

Procurement as a service is an outsourced procurement model that combines technology, staff, and expertise to handle a portion, if not all, of your organization’s procurement function. Technology helps them see what you’re spending money on, and where you will likely be able to find savings. It helps them choose the categories for sourcing and assign category experts to handle purchasing for those categories. It relies on technology to do the sourcing and procurement, track purchases and payments and handles three-way matching to make sure you’re only paying for what you get, and that you get the everything you’re supposed to when you’re supposed to.

LPI (LP Information)' newest research report, the “Procurement as a Service (PaaS) Industry Forecast” looks at past sales and reviews total world Procurement as a Service (PaaS) sales in 2022, providing a comprehensive analysis by region and market sector of projected Procurement as a Service (PaaS) sales for 2023 through 2029. With Procurement as a Service (PaaS) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Procurement as a Service (PaaS) industry.

This Insight Report provides a comprehensive analysis of the global Procurement as a Service (PaaS) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Procurement as a Service (PaaS) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Procurement as a Service (PaaS) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Procurement as a Service (PaaS) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Procurement as a Service (PaaS).

The global Procurement as a Service (PaaS) market size is projected to grow from US$ 6174.3 million in 2022 to US$ 9848.9 million in 2029; it is expected to grow at a CAGR of 6.9% from 2023 to 2029.

United States market for Procurement as a Service (PaaS) is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

China market for Procurement as a Service (PaaS) is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Europe market for Procurement as a Service (PaaS) is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Global key Procurement as a Service (PaaS) players cover Accenture, Infosys, Capgemini, IBM, HCL Technologies, Wipro, GEP, Proxima and Genpact, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2022.

This report presents a comprehensive overview, market shares, and growth opportunities of Procurement as a Service (PaaS) market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Strategic Sourcing
Spend Management
Category Management
Process Management
Contract Management
Transactions Management
Others

Segmentation by application
Manufacturing
BFSI
Retail and Consumer Goods
IT and Telecom
Energy and Utilities
Healthcare
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Accenture
Infosys
Capgemini
IBM
HCL Technologies
Wipro
GEP
Proxima
Genpact
WNS
Xchanging (DXC Technology)
TCS
Broadcom
Aegis
Corbus

Please note: The report will take approximately 2 business days to prepare and deliver.