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 WorkforceEnlighta Inc.Field Nation, LLC.PeopleFluentPIXID SASPRO Unlimited, Inc.Provade Inc.SAP FieldglassSuperior TalentTargetRecruit LLC.Upwork Global Inc.WorkMarket, Inc.Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

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