China Procurement As A Service Market Size & Outlook
China procurement as a service market, 2018-2030 (US$M)
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China procurement as a service market highlights
- The China procurement as a service market generated a revenue of USD 123.2 million in 2023 and is expected to reach USD 294.8 million by 2030.
- The China market is expected to grow at a CAGR of 13.3% from 2024 to 2030.
- In terms of segment, large enterprises was the largest revenue generating enterprise size in 2023.
- Small & Medium Enterprises is the most lucrative enterprise size segment registering the fastest growth during the forecast period.
Procurement as a service market data book summary
| Market revenue in 2023 | USD 123.2 million |
| Market revenue in 2030 | USD 294.8 million |
| Growth rate | 13.3% (CAGR from 2023 to 2030) |
| Largest segment | Large enterprises |
| Fastest growing segment | Small & Medium Enterprises |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Small & Medium Enterprises, Large Enterprises |
| Key market players worldwide | Accenture PLC Class A, Aegis Limited, Genpact Ltd, GEP, HCL Technologies, Infosys Ltd ADR, International Business Machines Corp, Tata Consultancy Services, Wipro Ltd ADR, WNS (Holdings) Ltd |
Other key industry trends
- In terms of revenue, China accounted for 1.9% of the global procurement as a service market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China procurement as a service market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 103.9 million by 2030.
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Procurement As A Service Market Scope
Procurement As A Service Market Companies
| Name | Profile | # Employees | HQ | Website |
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China procurement as a service market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to procurement as a service market will help companies and investors design strategic landscapes.
Large enterprises was the largest segment with a revenue share of 73.46% in 2023. Horizon Databook has segmented the China procurement as a service market based on small & medium enterprises, large enterprises covering the revenue growth of each sub-segment from 2018 to 2030.
Significant digitization and the presence of large manufacturing businesses are driving the growth of the procurement as a service market in China. Furthermore, rapid technological innovations and advancements in PaaS are encouraging various industry players to utilize these solutions and services to enhance their procurement operations.
For instance, in 2021, GEP, a provider of procurement software services, announced that Bekaert, a China-based manufacturing company, selected GEP Smart procurement software and GEP NEXXE, a cloud-based supply chain platform.
The company would use these solutions to transform its complete Source-to-Pay (S2P) process globally for direct and indirect expenditures. Thus, these are the primary factors expected to drive the market growth.
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Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of China procurement as a service market databook
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Our clientele includes a mix of procurement as a service market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China procurement as a service market , including forecasts for subscribers. This country databook contains high-level insights into China procurement as a service market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China procurement as a service market size, by enterprise size, 2018-2030 (US$M)
China Procurement As A Service Market Outlook Share, 2023 & 2030 (US$M)
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