Procurement as a Service (PaaS) Market Revenue was valued at USD 10.3 Billion in 2024 and is estimated to reach USD 25.6 Billion by 2033, growing at a CAGR of 10.6% from 2026 to 2033.
In 2022, the global Procurement as a Service (PaaS) market was valued at approximately USD 6.40 billion, with projections indicating growth to USD 14.52 billion by 2032, reflecting a compound annual growth rate (CAGR) of 9.9% during the forecast period. The European region held the largest market share, accounting for over 40% of the overall revenue. North America followed, with a market share of 32.18% in 2023. The Asia Pacific region, although holding 8.1% of the global market share in 2023, is anticipated to experience rapid growth, with projections reaching USD 1,222.4 million by 2030. The Asia Pacific regions growth is driven by the implementation of advanced technologies such as AI, ML, and IoT across industries like manufacturing, retail, BFSI, and healthcare. In India, the PaaS market generated USD 105.3 million in 2023 and is expected to reach USD 282.9 million by 2030, growing at a CAGR of 15.2% from 2024 to 2030. The increasing demand for digital solutions to manage and streamline supply chain operations, along with government initiatives promoting digitization, presents significant opportunities for PaaS providers in the region. Additionally, the growing need for modernized solutions that enable organizations to make data driven decisions is contributing to market expansion.
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Accenture
Infosys
Capgemini
IBM
HCL Technologies
Wipro
GEP
Proxima
Genpact
WNS
Xchanging (DXC Technology)
TCS
CA Technologies
Aegis
Corbus
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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.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Procurement as a Service (PaaS) Market
Manufacturing
Retail
Healthcare
Information Technology
Telecommunications
Construction
Aerospace and Defense
Small Enterprises
Medium Enterprises
Large Enterprises
Sourcing and Procurement Strategy Development
Supplier Management
Contract Management
Spend Analysis
Category Management
Artificial Intelligence and Machine Learning
Data Analytics and Business Intelligence
Blockchain Technology
Cloud Computing Solutions
Integration with ERP Systems
Direct Procurement
Indirect Procurement
Services Procurement
Outsourced Procurement
eProcurement Solutions
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)
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1. Introduction of the Global Procurement as a Service (PaaS) 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 as a Service (PaaS) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Procurement as a Service (PaaS) Market, By Type
6. Global Procurement as a Service (PaaS) Market, By Application
7. Global Procurement as a Service (PaaS) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Procurement as a Service (PaaS) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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