Retail Sourcing And Procurement Market To Reach $13.69 Billion By 2030

Retail Sourcing And Procurement Market Growth & Trends

The global retail sourcing and procurement market size is expected to reach USD 13.69 billion in 2030 and is projected to grow at a CAGR of 16.2% from 2025 to 2030. Increasing centralization in procurement processes and better visibility in sourcing related data has been a major factor driving market growth. In addition, recent development of Artificial Intelligence (AI), cloud computing, and Internet of Things (IoT) and its implementation across retail procurement processes also paved the way for greater development of retail software and solutions.

With rise of internet shopping and major shifts in consumer buying patterns, different trends are re-shaping the retail industry in the last few years. With a cutthroat competition, retailers are struggling to maintain and find profitability, thus, initiating them to take a defensive stance. Rising expenses, loss of sales productivity, and real-time buying trends are indulging retail businesses to adopt sourcing and procurement tools in order to cope up with the customer demand. Moreover, retailers need to look at their cost structures in order to decide their staffing, pricing, and operations.

The cloud segment accounted for a significant revenue share in 2024 and is expected to advance rapidly during the forecast period. Procurement cloud helps to streamline source-to-pay process through social collaboration and automation, thus, achieving high margins by controlling costs. Additionally, cloud based software supports seamless accessibility without additional IT effort to the device.

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Retail Sourcing And Procurement Market Report Highlights

• The global retail sourcing and procurement market is expected to grow at a CAGR of 16.2% from 2025 to 2030

• North America led the market with 35.1% of the global revenue share in 2024

• Based on components, the market has been categorized into solutions and services. The strategic sourcing sub-segment of solutions accounted for the largest revenue share of 25.8% in 2024

• The cloud segment accounted for a significant revenue share in 2024 and is expected to advance rapidly during the forecast period

• The large enterprise segment accounted for a leading revenue share in the retail sourcing and procurement market in 2024

Retail Sourcing And Procurement Market Segmentation

Grand View Research has segmented the global retail sourcing and procurement market report based on component, deployment, enterprise size, and region:

Retail Sourcing And Procurement Component Outlook (Revenue, USD Million, 2018 - 2030)

• Solution

  • Strategic Sourcing

  • Supplier Management

  • Contract Management

  • Procure-to-pay

  • Spend Analysis

• Service

  • Implementation

  • Consulting

  • Training & Support

Retail Sourcing And Procurement Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud

• On-premise

Retail Sourcing And Procurement Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

• Large Enterprises

• Small & Medium Enterprises

Retail Sourcing And Procurement Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • Japan

  • India

  • China

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Retail Sourcing And Procurement Market

• Cegid

• Epicor Software Corporation

• GEP

• Infor

• International Business Machines Corporation

• Ivalua Inc.

• Blue Yonder Group, Inc.

• Oracle

• Proactis Holdings Limited

• SAP SE