Burlingame, CA, Oct. 03, 2025 (GLOBE NEWSWIRE) — Global Procurement As a Service Market size is estimated to be valued at USD 7.86 Bn in 2025 and is expected to reach USD 17.17 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 11.8% from 2025 to 2032 The Procurement-as-a-Service Market has witnessed significant growth in recent years, driven by organizations’ efforts to enhance operational efficiency and reduce overhead costs across various sectors. By leveraging external expertise for sourcing components or raw materials, procurement-as-a-service allows companies to focus on their core business functions while optimizing the procurement process.
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Global Procurement As A Service Market Key Takeaways
According to Coherent Market Insights (CMI), the global procurement as a service market size is expected to grow at a CAGR of 11.8% between 2025 and 2032, reaching USD 17.17 Bn by 2032, up from USD 7.86 Bn in 2025.
Based on component, strategic outsourcing is projected to lead the industry, capturing a prominent market share of 30.7% in 2025.
Large enterprises are expected to account for more than three-fifths of the global procurement as a service market share by 2025.
By vertical, manufacturing segment is slated to hold a 36.6% market share in 2025.
North America, with an estimated share of 38.3% in 2025, is expected to remain the undisputed leader in the procurement-as-a-service market throughout the forecast period.
Asia Pacific is poised to emerge as the most lucrative pocket for procurement as a service market companies during the assessment period.
Focus on Cost Optimization and Operational Efficiency Fueling Market Growth
Coherent Market Insights’ latest procurement as a service market analysis outlines key factors driving industry growth. One such primary growth driver is the rising emphasis on cost optimization and operational efficiency.
Organizations in the contemporary world are increasingly outsourcing procurement tasks to streamline operations and reduce costs. This growing outsourcing trend is boosting demand for procurement as a service (PasaS).
PaaS allows businesses to access specialized expertise and advanced tools. It enables them to consolidate procurement processes, minimize manual interventions, and achieve faster turnaround in supplier management. As companies continue emphasizing operational efficiency and cost reduction, the PaaS market is expected to experience significant growth.
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Data Security Concerns Could Slow Down Procurement As A Service Market Growth
The prospective procurement as a service market outlook looks bright, owing to rising outsourcing trend and rapid digital transformation. However, rising concerns over data security may limit market to some extent over the forecast period.
PaaS platforms often require access to sensitive organizational data, including supplier details and financial records. …