Procurement Automation Market size was valued at USD 5.5 Billion in 2024 and is forecasted to grow at a CAGR of 9.8% from 2026 to 2033, reaching USD 12.3 Billion by 2033.
In 2022, the global procurement automation market was valued at approximately USD 6.69 billion and is projected to reach USD 25.24 billion by 2032, growing at a compound annual growth rate (CAGR) of 14.2% during this forecast period. North America led the market, accounting for about 35% of the global share, driven by the early adoption of advanced technologies and the presence of major technology vendors. Europe followed with a significant market share, attributed to stringent regulatory requirements and a focus on compliance. The Asia Pacific region emerged as the fastest growing market, with a projected CAGR of approximately 14%, fueled by rapid economic growth and increasing digital transformation initiatives in countries like China and India. The increasing adoption of cloud based procurement solutions and the integration of artificial intelligence (AI) and machine learning (ML) technologies are key drivers propelling market growth across these regions. Organizations are seeking to enhance operational efficiency, reduce manual errors, and achieve cost savings, leading to a surge in demand for procurement automation solutions. Additionally, the emphasis on supply chain resilience and transparency, especially in the wake of global disruptions, presents significant opportunities for market expansion. As businesses continue to prioritize digital transformation, the procurement automation market is poised for substantial growth in the coming years.
Get | Download Sample Copy with TOC, Graphs & List of Figures @ http://verifiedmarketreports.com/download-sample/?rid=342732&utm_source=Pulse_G_April&utm_medium=212
Â
SAP Ariba
IBM
Concord
Icertis
PandaDoc
Oracle
Coupa
Conga
Agiloft
Contract Logix
DocuSign
Hand
Weaver
SecureDocs
ContractPod Technologies
Inspur
ContractSafe
Smartdot
Seeyon
ManageEngine ServiceDesk
Gatekeeper
Parley Pro
Outlaw
Landray
Â
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase Of This Report @ https://www.verifiedmarketreports.com/ask-for-discount/?rid=342732&utm_source=Pulse_G_April&utm_medium=212
Growing demand for below applications around the world has had a direct impact on the growth of the Global Procurement Automation Market
Cloud-based
On-premises
Small and Medium Enterprises (SMEs)
Large Enterprises
Source-to-Pay (S2P)
Procure-to-Pay (P2P)
Contract Management
Supplier Management
Spend Analysis
Retail
Manufacturing
Healthcare
Government
Information Technology
Telecommunications
Invoicing and Payments
Supplier Discovery and Qualification
Order Management
Analytics and Reporting
Compliance Management
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ https://www.verifiedmarketreports.com/product/procurement-automation-market/
1. Introduction of the Global Procurement Automation Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Procurement Automation Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Procurement Automation Market, By Type
6. Global Procurement Automation Market, By Application
7. Global Procurement Automation Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Procurement Automation Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ US clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/