North America Procurement As A Service Market Size & Outlook
North America procurement as a service market, 2018-2030 (US$M)
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North America procurement as a service market highlights
- The North America procurement as a service market generated a revenue of USD 2,712.6 million in 2023.
- The market is expected to grow at a CAGR of 11.4% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 2,712.6 million |
| Market revenue in 2030 | USD 5,772.1 million |
| Growth rate | 11.4% (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, North America region accounted for 41.8% 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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North 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 74.42% in 2023. Horizon Databook has segmented the North 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 promising pace of technological advancements in the region, coupled with the significant adoption of Procurement as a Service (PaaS) among organizations, is expected to drive the North America PaaS market.
PaaS solutions offer several features, such as category and supplier enablement, contract lifecycle management, digital procurement transformation, energy management, and supplier relationship management, which enable organizations to streamline procurement and achieve vast benefits.
Furthermore, key companies in the market are partnering with other market players and acquiring niche solution providers to strengthen their solution and service offerings. For instance, in November 2023, Accenture, a professional service provider, announced the acquisition of Shelby Group, a U.S.-based digital procurement and optimization service provider that helps businesses in task automation, increasing spend visibility, and decreasing the cost of procurement functions.
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Target buyers of North 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 North America procurement as a service market , including forecasts for subscribers. This continent databook contains high-level insights into North America procurement as a service market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America procurement as a service market size, by country, 2018-2030 (US$M)
North America Procurement As A Service Market Outlook Share, 2023 & 2030 (US$M)
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