Dublin, July 15, 2025 (GLOBE NEWSWIRE) -- The "Procurement Technologies and Services Market - A Global and Regional Analysis: Focus on Application, Product, and Country Analysis - Analysis and Forecast, 2025-2034" report has been added to ResearchAndMarkets.com's offering.
Procurement Technologies and Services Market projected to reach $21.23 billion by 2034 from $7.93 billion in 2025, growing at a CAGR of 11.5%
The Procurement Technologies and Services market today encompasses a broad suite of capabilities - ranging from e-sourcing and spend analytics to supplier-risk management and full procurement-as-a-service offerings - delivered via on-premise, cloud-native and hybrid deployment models.
Major enterprise buyers are investing in AI-driven platforms that automate routine workflows, enable prescriptive sourcing insights and integrate real-time ESG metrics, while mid-market and SMB segments are increasingly adopting modular Procurement-as-a-Service (PaaS) solutions to lower upfront costs and accelerate time-to-value. This dynamic ecosystem is supported by an expanding roster of incumbent vendors (SAP Ariba, Coupa, Ivalua) alongside a wave of specialized startups (EcoVadis, Scoutbee, Simfoni), all vying to deliver deeper analytics, seamless ERP integration and enhanced supplier collaboration tools.
Procurement Technologies and Services Market Lifecycle Stage
The market is firmly in its growth stage, marked by accelerating adoption curves, prolific product innovation and rising competitive intensity. While early entrants focused on basic e-procurement and contract-management modules, the past 18 months have seen an influx of advanced AI/ML capabilities, cloud-native architectures and vertical-specific service bundles.
Investment levels are high - both from strategic acquirers seeking to consolidate capabilities and from venture-backed challengers introducing next-generation analytics and collaboration platforms. As integration complexity and data-privacy requirements mature into standardized best practices, the market is transitioning toward maturity, with consolidation and differentiation becoming the defining themes of the next 24 months.
Procurement Technologies and Services Market Key Players and Competition Synopsis
The Procurement Technologies and Services market is dominated by a cohort of established software providers - led by SAP Ariba (SAP SE), Coupa Software, Oracle Procurement Cloud, Ivalua and Jaggaer - alongside specialist vendors such as Zycus, GEP and Proactis. These leaders vie for prominence through differentiated value propositions: SAP Ariba leverages deep ERP integration and expansive partner ecosystems; Coupa emphasizes a unified, AI-native spend-management platform with a rich community-sourced benchmark database; Oracle capitalizes on its autonomous cloud infrastructure to embed advanced analytics across source-to-pay workflows; Ivalua and Jaggaer focus on configurability and rapid time-to-value for complex sourcing scenarios.
Competition is further intensified by the emergence of niche players - IBM Emptoris in supplier risk management, SynerTrade for configurable e-sourcing, and innovative startups delivering modular Procurement-as-a-Service offerings - prompting continuous feature expansion, strategic acquisitions and ecosystem alliances aimed at capturing both large-enterprise and mid-market segments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value (USD) in 2025 | $7.93 Billion |
| Forecasted Market Value (USD) by 2034 | $21.23 Billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
Demand Drivers and Limitations
The following are the demand drivers for the global procurement technologies and services market:
- AI-Driven Digital Transformation
The global procurement technologies and services market is expected to face some limitations as well due to the following challenges:
- Data Security and Privacy Regulations
Current and Future Impact Assessment
- Stakeholder Analysis
- Use Case
- End User and Buying Criteria
- Market Dynamics Overview
- Market Drivers
- Market Restraints
- Market Opportunities
- Investment Landscape and R&D Trends
- Supply Chain Analysis
- Future Outlook and Market Roadmap
Procurement Technologies and Services Market Segmentation:
Application:Manufacturing is one of the prominent application segments in the global procurement technologies and services market.
- Manufacturing
- BFSI
- Energy
- Travel and Hospitality
- Healthcare
- Others
Component: The global procurement technologies and services market is estimated to be led by the strategic sourcing segment in terms of component.
- Strategic Sourcing
- Spend Management
- Category Management
- Process Management
- Contract Management
- Transactions Management
Region: North America is anticipated to gain traction with increasing digitalization demand and government initiatives
- North America - U.S., and Canada
- Europe - Germany, France, Italy, Spain, U.K., and Rest-of-Europe
- Asia-Pacific - China, Japan, South Korea, India, and Rest-of-Asia-Pacific
- Rest-of-the-World - South America and Middle East and Africa
Some prominent names established in the procurement technologies and services market are:
- Accenture
- Infosys
- GEP
- Genpact
- Proxima
- WNS
- Capgemini
- IBM
- Wipro
- HCL
- TCS
- Xchanging
- Aegis
- Corbus
- CA Technologies
For more information about this report visit https://www.researchandmarkets.com/r/gt9lef
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