U.S. Procurement As A Service Market Size & Outlook
U.S. procurement as a service market, 2018-2030 (US$M)
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U.S. procurement as a service market highlights
- The U.S. procurement as a service market generated a revenue of USD 2,192.2 million in 2023 and is expected to reach USD 4,590.5 million by 2030.
- The U.S. market is expected to grow at a CAGR of 11.1% 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 2,192.2 million |
| Market revenue in 2030 | USD 4,590.5 million |
| Growth rate | 11.1% (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, U.S. accounted for 33.8% 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 North America, U.S. procurement as a service market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 1,181.6 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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U.S. 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 74.17% in 2023. Horizon Databook has segmented the U.S. procurement as a service market based on small & medium enterprises, large enterprises covering the revenue growth of each sub-segment from 2018 to 2030.
U.S. businesses across numerous industries are employing key capabilities of PaaS solutions, such as source-to-pay procurement, tactical and transactional procurement, research and modeling, and inventory management, to manage their procurement processes effectively.
Furthermore, strateguc initiatives taken by various associations, government institutions, and policymakers in the market is expected to drive the market growth. For Instance, In October 2023, GEP announced that its comprehensive source-to-pay procurement software and services were selected by the National Association of State Procurement Officials (NASPO) to support the modernization of the e-procurement activities of U.S. state and public entities.
These NASPO members, across the U.S. territories, states, and the District of Columbia, would be able to access the procurement software and services through their cooperative purchasing initiative, NASPO ValuePoint.
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Target buyers of U.S. 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 U.S. procurement as a service market , including forecasts for subscribers. This country databook contains high-level insights into U.S. procurement as a service market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
U.S. procurement as a service market size, by enterprise size, 2018-2030 (US$M)
U.S. Procurement As A Service Market Outlook Share, 2023 & 2030 (US$M)
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