Latin America Procurement As A Service Market Size & Outlook
Latin America procurement as a service market, 2018-2030 (US$M)
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Latin America procurement as a service market highlights
- The Latin America procurement as a service market generated a revenue of USD 208.8 million in 2023.
- The market is expected to grow at a CAGR of 12.5% 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.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 208.8 million |
| Market revenue in 2030 | USD 475.3 million |
| Growth rate | 12.5% (CAGR from 2023 to 2030) |
| Largest segment | Large enterprises |
| Fastest growing segment | Small & Medium Enterprises |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 3.2% of the global procurement as a service market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,222.4 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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Latin America 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 79.93% in 2023. Horizon Databook has segmented the Latin America procurement as a service market based on small & medium enterprises, large enterprises covering the revenue growth of each sub-segment from 2018 to 2030.
The growing adoption of cloud solutions and services by Latin American businesses seeking ways of saving operational costs associated with the deployment and maintenance of technology infrastructure, minimizing dependency on expensive resources, and maintaining long-term supplier relationships are some of the key factors driving the PaaS market.
For instance, in April 2023, Xinergy, a procurement and supply chain solution and service provider, announced its participation in the Partner United ecosystem led by GEP, a procurement software and managed services provider.
Under the partnership, Xinergy would offer GEP’s advisory and implementation services, enabling Latin American businesses to become more resilient, agile, competitive, and profitable. These factors are expected to drive the adoption of PaaS among Latin American customers.
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Target buyers of Latin America 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 continent-level data and insights on the Latin America procurement as a service market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America procurement as a service market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America procurement as a service market size, by country, 2018-2030 (US$M)
Latin America Procurement As A Service Market Outlook Share, 2023 & 2030 (US$M)
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