Download free PDF

Procurement Software Market Size - By Software Module, By Organization Size, By Deployment Model, By End Use, Growth Forecast, 2025-2034

Report ID: GMI15282
   |
Published Date: November 2025
 | 
Report Format: PDF

Download Free PDF

Procurement Software Market Size

The global procurement software market size was valued at USD 7.5 billion in 2024. The market is expected to grow from USD 8.1 billion in 2025 to USD 17.8 billion in 2034, at a CAGR of 9.2%, according to latest report published by Global Market Insights Inc.

Procurement Software Market

The procurement software market is projected to witness substantial growth over the coming years, driven by the rising need for digitalized procurement processes, cost optimization initiatives, and enhanced supply chain visibility across industries such as manufacturing, BFSI, healthcare, retail, and government. As organizations increasingly focus on operational efficiency, compliance, and strategic sourcing, enterprises are prioritizing integrated, cloud-based procurement solutions that streamline spend management, supplier collaboration, and contract lifecycle management.
 

The growing adoption of AI-powered analytics, robotic process automation (RPA), and IoT-enabled supply chain monitoring is transforming procurement operations. These technologies enable real-time spend tracking, predictive demand forecasting, and automated supplier risk assessment, while facilitating seamless coordination between procurement teams, finance departments, and external vendors. By leveraging digital twins, machine-learning-based spend optimization, and data-driven supplier performance dashboards, organizations can accelerate decision-making, improve cost efficiency, and enhance overall procurement agility.
 

Digital transformation within the procurement domain is further accelerated by the deployment of cloud-based e-sourcing platforms, automated contract management tools, and advanced supplier relationship management (SRM) systems. These solutions ensure improved operational efficiency, minimize manual errors, and support compliance with regulatory standards and corporate governance frameworks. Integration between ERP systems, supplier portals, and cloud-based analytics also strengthens supply chain transparency, sustainability tracking, and risk mitigation.
 

For instance, in 2024, leading companies such as SAP Ariba, Coupa, and Oracle Procurement Cloud expanded their platform capabilities with AI-driven spend analysis, automated sourcing workflows, and enhanced supplier risk management functionalities. Likewise, enterprises including Unilever, Siemens, and Walmart increased investments in procurement software adoption, focusing on improving supplier collaboration, reducing maverick spending, and enabling faster decision-making to support global supply chain optimization initiatives.
 

The market is witnessing continuous technological advancement driven by the convergence of AI-driven analytics, cloud computing, IoT-enabled supply chain monitoring, and sustainable procurement practices. Industry stakeholders are increasingly prioritizing scalable platform integration, interoperable analytics environments, and resource-efficient procurement strategies aligned with circular economy principles. These innovations are redefining the procurement software market, enabling more agile, transparent, and data-driven procurement operations that support cost optimization, operational efficiency, and sustainable business practices across industries.
 

Procurement Software Market Trends

The demand for advanced procurement software solutions is rapidly increasing, driven by growing collaboration among enterprises, technology providers, cloud-platform developers, and AI analytics companies to enhance operational efficiency, cost optimization, and supply chain transparency. These partnerships focus on developing integrated, data-driven, and interoperable procurement ecosystems incorporating AI-enabled spend analytics, IoT-based supplier performance monitoring, predictive risk modeling, and cloud-connected procurement management systems.
 

For instance, in 2024, SAP Ariba and Coupa initiated joint initiatives with leading global enterprises to advance AI-driven spend optimization and automated sourcing workflows, improving procurement efficiency and enhancing long-term cost savings. Similarly, Ivalua and Jaggaer expanded collaborative deployments with major manufacturing and retail OEMs to implement modular procurement platforms at scale, focusing on supplier risk mitigation, compliance automation, and integrated procurement lifecycle analytics.
 

Regional localization of procurement software deployment is also becoming a major trend. Key providers, including SAP Ariba, Oracle Procurement Cloud, and Coupa, are establishing region-specific cloud instances and data centers in North America, Europe, and Asia to meet local regulatory standards, data sovereignty requirements, and industry-specific integration demands. These facilities incorporate localized analytics infrastructure, cloud-based process-control systems, and automated compliance monitoring tools to deliver consistent performance, faster deployment cycles, and stronger alignment with regional procurement policies.
 

The emergence of specialized technology startups offering modular procurement analytics tools, AI-based supplier risk platforms, and automated workflow orchestration systems is reshaping the competitive landscape. Companies developing intelligent sourcing engines, digital twin platforms for procurement processes, and predictive contract compliance solutions are offering scalable, cost-effective platforms that accelerate adoption. These innovations enable both established software vendors and new entrants to enhance operational efficiency, improve spend visibility, and reduce time-to-value for enterprise procurement functions.
 

Development of standardized, interoperable, and modular procurement architectures is transforming the enterprise procurement ecosystem. Leading players such as SAP Ariba, Ivalua, and Coupa are deploying cloud-integrated procurement platforms that support diverse sourcing models, supplier types, and industry requirements. These solutions improve supply chain transparency, enable real-time supplier performance tracking, and ensure compatibility across multiple ERP and enterprise systems. The growing adoption of modular, scalable architectures is reducing implementation costs, accelerating deployment timelines, and fostering a future-ready, intelligent, and connected procurement landscape.
 

Procurement Software Market Analysis

Procurement Software Market, By Software Module , 2022 - 2034 (USD Billion)

Based on software modules, the procurement software market is divided into spend analysis, E-Sourcing, E-Procurement, contract management, supplier management and others. The spend analysis segment dominated the market accounting for around 34% share in 2024 and is expected to grow at a CAGR of over 9% from 2025 to 2034.
 

  • The spend analysis segment plays a significant role in transforming modern procurement operations, enabling organizations to achieve deeper cost visibility, improved financial control, and data-driven decision-making. As enterprises increasingly seek to optimize sourcing strategies and reduce maverick spending, advanced spend analytics platforms integrating AI-driven data classification, multi-source aggregation, and predictive cost modeling have become essential. These tools provide real-time insights into spending patterns, supplier performance, and savings opportunities, overcoming the limitations of manual spend reviews.
     
  • The E-Sourcing and E-Procurement segments are witnessing strong growth driven by the rising adoption of automated sourcing workflows, digital RFP/RFQ management, catalog-based purchasing, and streamlined purchase order processes. E-Sourcing platforms support competitive bidding, supplier collaboration, and transparent supplier evaluation, while E-Procurement systems enable automated requisitioning, approval workflows, and ERP-integrated purchasing. Their growing importance across manufacturing, healthcare, retail, BFSI, and public sector organizations is accelerating the demand for scalable cloud-based tools that enhance efficiency, reduce cycle times, and improve process accuracy.
     
  • Meanwhile, contract management, supplier management, and other supporting modules are emerging as critical enablers of advanced procurement governance and supplier relationship optimization. Contract management platforms incorporating AI-assisted clause analysis and centralized lifecycle tracking help enterprises improve compliance and reduce contractual risks.
     
  • Supplier management systems enhance supplier onboarding, performance tracking, and ESG compliance monitoring, strengthening supply chain resilience. Additional modules including invoicing tools, analytics extensions, and workflow customization engines provide integration flexibility and support end-to-end digital procurement transformation.

 

Procurement Software Market Share, By Organization Size, 2024

Based on organization size, the procurement software market is divided into large enterprises and SMEs. Large enterprises segment dominates the market accounting for around 65% share in 2024, and the segment is expected to grow at a CAGR of over 9.5% from 2025 to 2034.
 

  • The large enterprises segment dominates the procurement software market, driven by the need for highly scalable, integrated, and compliance-focused procurement systems capable of managing complex global supply chains. Large organizations require advanced tools for multi-region sourcing, enterprise-wide spend visibility, and real-time supplier risk monitoring. Their strong investment in AI-enabled spend analytics, automated sourcing platforms, contract intelligence systems, and cloud-integrated procurement suites continues to reinforce their leadership position in the market.
     
  • Large enterprises increasingly deploy end-to-end procurement ecosystems that support centralized purchasing, standardized workflows, and high-volume transaction processing. Integration with ERP systems, IoT-enabled supply chain monitoring, and predictive analytics enhances operational efficiency, reduces procurement cycle times, and improves supplier performance consistency. As industries such as manufacturing, BFSI, pharmaceuticals, telecom, and public sector operations continue to digitalize, large enterprises remain the primary adopters of advanced procurement software solutions.
     
  • SMEs segment is experiencing strong and steady growth, driven by the need to reduce manual procurement processes, improve cost control, and enhance supplier management efficiency. SMEs are rapidly adopting cloud-based procurement platforms due to their lower cost of implementation, modular architecture, and ease of integration with existing business systems. Increasing availability of subscription-based procurement tools, AI-driven spend dashboards, and automated invoice processing solutions is enabling SMEs to access capabilities previously limited to large enterprises.
     

Based on deployment model, the procurement software market is divided into SaaS & cloud-based deployment, hybrid, and on-premises. The SaaS & cloud-based deployment segment dominated the market and was valued at USD 3.8 billion in 2024.
 

  • The SaaS & cloud-based deployment segment dominated the procurement software market, driven by its superior scalability, effortless updates, lower upfront costs, and rapid deployment capabilities. Enterprises across industries are increasingly leveraging cloud-based procurement systems to enhance real-time spend visibility, automate sourcing and purchasing workflows, and improve supplier collaboration. Integration of AI-driven analytics, predictive risk assessment, and automated compliance engines further strengthens operational efficiency and reliability, reinforcing the dominance of the cloud segment across both large enterprises and SMEs.
     
  • The hybrid deployment model is witnessing steady growth as it balances cloud flexibility with the enhanced control and data residency requirements of on-premises systems. Hybrid procurement platforms are increasingly adopted by regulated sectors such as BFSI, healthcare, and government agencies, where sensitive procurement data must remain partially on-premises. Organizations deploying hybrid models benefit from flexible scaling, improved system resilience, and secure integration with legacy ERP environments.
     
  • The on-premises deployment segment remains an important choice for organizations requiring maximum data security, stringent compliance adherence, or highly customized procurement environments. These systems offer full ownership of IT infrastructure, more specialized workflow configurations, and tight integration with proprietary enterprise systems. While cloud adoption is rising, on-premises deployment continues to see adoption in defense, public sector, and large enterprises with complex data-governance mandates.
     

Based on end use, the procurement software market is divided into BFSI, government & public sector, manufacturing, healthcare & life sciences, retail & consumer goods, telecommunications and others. The BFSI segment dominated the market and was valued at USD 2.8 billion in 2024.
 

  • The BFSI segment dominated the procurement software market, driven by its high need for secure purchasing workflows, automated compliance management, and streamlined vendor governance. Banks, financial institutions, and insurance providers are increasingly deploying cloud-based procurement platforms, AI-enabled spend analytics, and risk-monitoring tools to enhance transparency, operational control, and regulatory adherence. The dominance of this segment is further reinforced by large transaction volumes, multi-vendor ecosystems, and the growing shift toward digital procurement transformation across global financial services.
     
  • The government & public sector segment is witnessing steady growth as agencies adopt digital procurement tools to improve transparency, ensure policy compliance, and accelerate tendering and public sourcing processes. Governments are increasingly implementing automated approval systems, centralized supplier databases, and audit-ready tracking solutions to strengthen accountability and operational efficiency, driving consistent growth in this segment.
     
  • The manufacturing, healthcare & life sciences, retail & consumer goods, telecommunications, and other segments are emerging as promising contributors, particularly as enterprises seek to enhance sourcing efficiency, reduce operational costs, and improve supplier collaboration. These sectors benefit from integration of real-time analytics, automated inventory-linked procurement, and predictive risk management tools. Investment in digital procurement innovation, workflow automation, and scalable cloud platforms is enabling broader adoption across these segments, positioning them as key contributors to future market expansion.

 

US Procurement Software Market Size, 2022 - 2034 (USD Billion)

In 2024, US dominated the North America procurement software market with around 88% of the revenue share and generated approximately USD 2.2 billion in revenue.
 

  • North America dominated the market, supported by strong digital procurement adoption, widespread cloud integration, and a mature enterprise technology ecosystem. Organizations across the region are rapidly deploying AI-driven spend analytics, automated sourcing workflows, contract intelligence platforms, and supplier risk-management solutions to enhance operational efficiency and cost visibility. Increasing focus on process automation, compliance, and real-time procurement intelligence continues to strengthen North America’s leadership position in the global procurement software industry.
     
  • Within North America, the United States accounted for the largest share, driven by its advanced IT infrastructure, strong presence of global procurement software providers, and accelerated enterprise-wide digital transformation initiatives. U.S. enterprises are increasingly leveraging cloud-native procurement suites, AI-enabled supplier analytics, and integrated workflow automation to streamline sourcing, improve governance, and enhance decision-making accuracy. Federal and state-level policies promoting data transparency, secure digital procurement, and modernization of public-sector purchasing processes further support market growth across the country.
     
  • Key innovation hubs across the U.S. including California, Texas, New York, and Washington play a critical role in advancing next-generation procurement technologies, fostering collaborations among software companies, enterprises, and analytics providers. Leading players such as SAP Ariba, Coupa, Oracle, Ivalua, Jaggaer, and GEP continue to expand capabilities in predictive procurement, cloud-based contract management, and intelligent supplier monitoring. Their ongoing investment in AI, automation, and cloud infrastructure solidifies the U.S. position as the dominant force in the North American market.
     

Germany holds share of 40% share in Europe procurement software market in 2024 and it will grow tremendously between 2025 and 2034.
 

  • Europe accounted for a significant share of the market, driven by strong regulatory frameworks, rapid digital transformation, and increasing adoption of AI-enabled procurement automation across enterprises and public-sector institutions. Organizations across the region are deploying cloud-based sourcing platforms, automated contract lifecycle management tools, supplier risk-monitoring systems, and advanced spend-intelligence solutions to enhance compliance, improve cost visibility, and streamline procurement operations.
     
  • Germany dominated the Europe procurement software market, supported by its strong industrial base, advanced manufacturing ecosystem, and high adoption of enterprise digitalization solutions. German organizations particularly in automotive, engineering, and public-sector procurement are increasingly leveraging AI-driven spend analytics, automated e-sourcing platforms, contract intelligence tools, and real-time supplier risk-management systems to achieve operational efficiency and strategic sourcing advantages.
     
  • Other major European countries including France, the UK, and Italy are also contributing to regional growth, driven by rising investments in cloud procurement platforms, digital contract management, and sustainable supplier-engagement tools. France focuses on centralized procurement modernization, the UK emphasizes analytics-driven supplier governance, and Italy prioritizes digital workflow automation and SME procurement enablement. Despite challenges such as integration complexities and budget constraints, enterprises across Europe are rapidly adopting intelligent, cloud-enabled procurement solutions, strengthening the region’s overall position in the market.
     

China holds share of 33% in Asia Pacific procurement software market in 2024 and it is expected to grow tremendously between 2025 and 2034.
 

  • Asia-Pacific holds a major share of the market in 2024, supported by rapid enterprise digitalization, growing adoption of cloud-based procurement platforms, and investments in AI-driven sourcing and spend management solutions. The region is witnessing steady growth as large organizations, SMEs, and public-sector institutions deploy automated procurement workflows, predictive supplier risk analytics, contract lifecycle management tools, and cloud-connected spend intelligence systems to enhance operational efficiency, compliance, and cost optimization across diverse industries.
     
  • China represents the largest market in Asia-Pacific, driven by strong enterprise adoption of cloud procurement platforms, AI-enabled spend analytics, and integrated supplier management solutions. Key trends include deployment of predictive sourcing tools, automated contract management, real-time supplier performance monitoring, and centralized procurement dashboards across manufacturing, BFSI, retail, and public-sector organizations. Chinese enterprises are investing heavily in modular, scalable, and interoperable procurement systems to meet regulatory requirements, streamline workflows, and support rapid business expansion, reinforcing the country’s dominant position in the regional market.
     
  • Other Asia-Pacific markets, including Japan, South Korea, and India, are emerging as high-growth regions, supported by government initiatives promoting digital transformation, process automation, and procurement transparency. These markets focus on AI-driven spend analysis, automated sourcing workflows, and cloud-connected supplier management tools to improve compliance, operational efficiency, and strategic sourcing outcomes. Despite challenges such as legacy system integration and budget constraints, enterprises across the region are increasingly adopting intelligent and scalable procurement solutions, strengthening Asia-Pacific’s overall contribution to the market.
     

The procurement software market in Brazil will experience significant growth between 2025 and 2034.
 

  • Latin America holds a smaller but growing share of the market in 2024, supported by increasing enterprise adoption of cloud-based procurement platforms, AI-enabled spend analytics, predictive supplier risk management, and digitalized sourcing workflows. Demand is primarily driven by large organizations, SMEs, and public-sector institutions seeking scalable, intelligent, and reliable procurement solutions to improve operational efficiency, cost control, and compliance with regional regulations.
     
  • Brazil represents the largest market in Latin America, driven by strong investments in digital procurement transformation, cloud-enabled sourcing tools, and AI-assisted supplier management solutions. Enterprises are deploying automated spend analysis platforms, predictive supplier risk dashboards, and integrated contract lifecycle management systems to optimize procurement operations, enhance compliance, and improve cost efficiency. These capabilities enable real-time decision-making, standardized workflows, and regulatory adherence, reinforcing Brazil’s leadership position in the regional procurement software market.
     
  • Mexico is emerging as the fastest-growing market in the region, supported by early adoption of cloud procurement platforms, AI-enabled analytics, and modular sourcing and supplier management solutions. Investments in digital skill development, process automation, and integrated procurement workflows are driving rapid market expansion. Mexico complements Brazil’s established leadership, contributing to the overall growth of the Latin American procurement software ecosystem.
     

The procurement software market in UAE will experience significant growth between 2025 and 2034.
 

  • Middle East & Africa (MEA) accounted for a modest share of the market in 2024, supported by the growing adoption of cloud-based procurement platforms, AI-enabled spend analytics, predictive supplier risk management, and digitalized sourcing workflows. The region is witnessing steady growth as enterprises, SMEs, and public-sector organizations deploy intelligent, scalable, and secure procurement systems to improve operational efficiency, cost control, compliance, and supplier collaboration.
     
  • UAE dominated the MEA market, driven by strong demand from large enterprises, government institutions, and service providers for cloud-integrated, AI-enabled, and modular procurement solutions. Key trends include deployment of automated spend analysis platforms, real-time supplier performance monitoring, predictive risk analytics, and centralized contract management systems across multiple industries. UAE-based organizations are leveraging scalable and interoperable platforms to optimize procurement operations, ensure regulatory compliance, and enhance operational visibility, reinforcing the country’s leadership in the regional market.
     
  • A notable trend in the UAE market is the adoption of advanced digital procurement platforms, AI-driven analytics, and workflow automation tools. Enterprises and public-sector organizations are increasingly deploying these solutions to improve transparency, reduce processing time, and enable data-driven strategic sourcing. These initiatives are reinforcing the UAE’s position as the leading MEA market for procurement software, setting benchmarks in efficiency, reliability, and connected procurement operations.
     

Procurement Software Market Share

The top 7 companies in the market are SAP Ariba, Coupa, Oracle Procurement Cloud, Ivalua, Jaggaer, GEP and Zycus. These companies hold around 55% of the market share in 2024.
 

  • SAP Ariba offers a comprehensive cloud-based procurement platform that integrates spend analysis, e-sourcing, contract management, and supplier management modules. The company emphasizes AI-driven spend insights, automated workflow orchestration, and scalable solutions to optimize sourcing, reduce procurement costs, and enhance supplier collaboration. SAP Ariba’s platform supports predictive risk assessment, real-time analytics, and cloud-based dashboards to ensure operational efficiency, compliance, and strategic decision-making across enterprises.
     
  • Oracle Procurement Cloud provides an end-to-end procurement suite including e-sourcing, procurement contracts, supplier qualification, and spend management modules. Oracle emphasizes AI-enabled analytics, automated approval workflows, and cloud-integrated supplier management to optimize procurement operations, reduce cycle times, and ensure regulatory compliance. Its solutions support predictive risk assessment, real-time reporting, and scalable deployment, enabling improved operational efficiency and strategic sourcing outcomes.
     
  • Coupa specializes in cloud-based business spend management solutions, delivering high-performance procurement, invoicing, and expense management capabilities for global organizations. Coupa integrates AI-powered spend analytics, real-time supplier monitoring, and predictive workflow automation to improve cost control, compliance, and process efficiency. Its platform supports modular deployment, scalable integration, and data-driven decision-making to enhance operational performance across manufacturing, retail, BFSI, and public-sector clients.
     
  • Ivalua delivers a unified procurement platform with modules for sourcing, supplier management, contract lifecycle management, and spend analysis. Ivalua integrates AI-driven supplier insights, predictive analytics, and automated workflows to improve cost control, compliance, and supplier collaboration. Its flexible, cloud-based solutions support modular adoption, real-time performance monitoring, and scalable enterprise integration, ensuring efficient and reliable procurement operations across multiple sectors.
     
  • Jaggaer focuses on comprehensive spend management and procurement solutions tailored for large enterprises and public-sector organizations. Jaggaer integrates AI-enabled analytics, predictive supplier risk assessment, automated sourcing, and contract management capabilities to improve operational efficiency, compliance, and cost savings. Its cloud-connected, scalable platform supports real-time data insights, workflow automation, and supplier collaboration to optimize enterprise procurement processes.
     
  • GEP offers end-to-end procurement and supply chain solutions including spend analysis, sourcing, contract management, and supplier management modules. GEP emphasizes AI-powered analytics, cloud-based deployment, and integrated workflow automation to enhance procurement efficiency, reduce costs, and mitigate supplier risks. Its solutions support predictive insights, modular integration, and enterprise scalability, enabling reliable and optimized procurement operations across global organizations.
     
  • Zycus provides a unified procurement platform encompassing e-sourcing, supplier management, contract management, and spend analytics. Zycus integrates AI-assisted analytics, automated workflow orchestration, and cloud-enabled dashboards to improve procurement efficiency, ensure compliance, and optimize supplier engagement. Its scalable, modular solutions support predictive risk management, real-time visibility, and strategic sourcing capabilities, enabling enterprises to enhance operational performance and cost effectiveness.
     

Procurement Software Market Companies

Major players operating in the procurement software industry include:
 

  • Basware
  • Coupa
  • GEP
  • Ivalua
  • Jaggaer
  • Oracle
  • SAP Ariba
  • Synertrade
  • Workday
  • Zycus

     
  • The procurement software market is highly competitive, with leading developers, cloud platform providers, and technology innovators such as SAP Ariba, Coupa, Oracle Procurement Cloud, Ivalua, Jaggaer, GEP, and Zycus occupying key segments across spend analysis, e-sourcing, contract management, supplier management, and integrated procurement suites.
     
  • SAP Ariba, Coupa, and Oracle Procurement Cloud lead the market with high-performance, cloud-based procurement platforms, integrating AI-enabled spend analytics, automated sourcing workflows, predictive risk assessment, and real-time supplier monitoring tools. These companies focus on enhancing operational efficiency, cost savings, compliance, and supplier collaboration across BFSI, manufacturing, retail, government, and telecommunications sectors.
     
  • Ivalua, Jaggaer, GEP, and Zycus specialize in modular, scalable, and interoperable procurement solutions, emphasizing workflow automation, centralized contract management, supplier performance monitoring, and cloud-connected analytics. Their platforms support enterprises and public-sector organizations with data-driven decision-making, process standardization, and enhanced operational visibility, enabling efficient, compliant, and cost-effective procurement practices across global markets.
     
  • Overall, the market is characterized by rapid innovation, with companies continuously developing AI-driven analytics, predictive risk management, cloud-integrated dashboards, and automated workflow solutions. Market players are focused on delivering scalable, modular, and intelligent procurement software that enables streamlined sourcing, improved supplier engagement, and operational efficiency across diverse industries worldwide.
     

Procurement Software Industry News

  • In March 2025, SAP Ariba announced the launch of its enhanced AI-enabled procurement suite, integrating predictive spend analytics, automated sourcing workflows, and cloud-connected supplier risk management tools. The new platform aims to improve operational efficiency, compliance, and cost optimization for large enterprises and public-sector organizations globally.
     
  • In February 2025, Coupa unveiled its next-generation cloud-based procurement platform, featuring advanced AI-driven spend intelligence, real-time supplier performance monitoring, and automated contract management. The initiative supports improved supplier collaboration, faster sourcing cycles, and enhanced decision-making for multinational corporations and mid-sized enterprises.
     
  • In January 2025, Oracle Procurement Cloud introduced new modules for integrated supplier management and predictive risk analytics, enabling enterprises to automate procurement workflows, monitor supplier performance, and optimize sourcing strategies across BFSI, manufacturing, and retail sectors. The update focuses on operational efficiency, cost reduction, and compliance with evolving regulations.
     
  • In December 2024, Ivalua partnered with leading global organizations to deploy its AI-powered procurement solutions, combining automated spend analysis, predictive supplier risk assessment, and cloud-connected contract management systems. The collaboration aims to enhance sourcing efficiency, streamline procurement processes, and improve supplier governance across multiple industries.
     
  • In October 2024, Jaggaer expanded its cloud procurement platform and announced strategic collaborations with enterprises across manufacturing and public sectors, emphasizing AI-enabled analytics, automated workflow orchestration, and real-time supplier monitoring. These initiatives focus on improving operational efficiency, reducing procurement cycle times, and enhancing compliance and cost management across global organizations.
     

The procurement software market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Bn) from 2021 to 2034, for the following segments:

Market, By Software Module

  • Spend analysis
  • E-sourcing
  • E-procurement
  • Contract management
  • Supplier management
  • Others

Market, By Organization Size

  • Large Enterprises
  • SMEs

Market, By Deployment Model

  • SaaS & cloud-based deployment
  • Hybrid
  • On-premises

Market, By End use

  • BFSI
  • Government & public sector
  • Manufacturing
  • Healthcare & life sciences
  • Retail & consumer goods
  • Telecommunications
  • Others

The above information is provided for the following regions and countries:

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Belgium
    • Netherlands
    • Sweden
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Singapore
    • South Korea
    • Vietnam
    • Indonesia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina 
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE

 

Authors: Preeti Wadhwani, Aishvarya Ambekar
Frequently Asked Question(FAQ) :
What is the market size of the procurement software in 2024?
The market size was valued at USD 7.5 billion in 2024, with a CAGR of 9.2% expected through 2034. The growth is driven by the increasing demand for digital procurement processes, cost optimization, and enhanced supply chain visibility.
What is the projected value of the procurement software market by 2034?
The market is poised to reach USD 17.8 billion by 2034, fueled by the adoption of cloud-based solutions, AI-driven analytics, and modular procurement platforms.
What is the expected size of the procurement software industry in 2025?
The market size is projected to reach USD 8.1 billion in 2025.
How much revenue did the SaaS & cloud-based deployment segment generate in 2024?
The SaaS & cloud-based deployment segment generated approximately USD 3.8 billion in 2024, due to its scalability, cost-effectiveness, and rapid deployment capabilities.
What was the market share of the spend analysis segment in 2024?
The spend analysis segment accounted for around 34% of the market share in 2024 and is expected to witness over 9% CAGR till 2034.
What is the growth outlook for the large enterprises segment from 2025 to 2034?
The large enterprises segment is set to expand at a CAGR of over 9.5% up to 2034.
Which region leads the procurement software sector?
North America leads the market, with the U.S. accounting for approximately 88% of the regional revenue in 2024, generating USD 2.2 billion. This leadership is driven by strong digital procurement adoption and a mature enterprise technology ecosystem.
What are the upcoming trends in the procurement software market?
Trends include AI-driven spend analytics, IoT-enabled supplier monitoring, predictive risk modeling, modular procurement platforms, and region-specific cloud deployments for compliance.
Who are the key players in the procurement software industry?
Key players include Basware, Coupa, GEP, Ivalua, Jaggaer, Oracle, SAP Ariba, Synertrade, Workday, and Zycus.
Procurement Software Market Scope
  • Procurement Software Market Size
  • Procurement Software Market Trends
  • Procurement Software Market Analysis
  • Procurement Software Market Share
Authors: Preeti Wadhwani, Aishvarya Ambekar
Trust Factor 1
Trust Factor 2
Trust Factor 1
Premium Report Details

Base Year: 2024

Companies covered: 25

Tables & Figures: 190

Countries covered: 24

Pages: 235

Download Free PDF

Top
We use cookies to enhance user experience. (Privacy Policy)