Market Overview:
The global procurement as a service (PaaS) market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for cloud-based procurement solutions and services due to their advantages such as scalability, flexibility, and cost-effectiveness. In addition, the growing trend of digitization is also contributing to the growth of the market. The global procurement as a service (PaaS) market can be segmented on the basis of type into strategic sourcing, spend management, category management, process management, contract management, transactions management, and others. The spend management segment is expected to hold the largest share in terms of revenue in 2018 owing to its ability to help organizations manage their spending by identifying opportunities for savings and improving operational efficiency. On the basis of application,the global procurement as a service (PaaS)market can be divided into manufacturing BFSI retail and consumer goods ITand telecom energyand utilities healthcareand others .
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Product Definition:
procurement as a service (PaaS) is a cloud-based platform that allows businesses to manage their procurement processes and operations. PaaS can help businesses automate procurement tasks, including requisitioning, sourcing, contract management, and invoicing. Additionally, PaaS can provide insights into spending trends and performance analytics. By using PaaS, businesses can improve efficiency and optimize procurement operations.
Strategic Sourcing:
Strategic sourcing is a procurement process where the supplier's strength and weakness are considered. It helps to identify areas of supplier’s strength so that the organization can rely on them for future procurements, and at the same time, it also identifies areas of deficiency so that corrective measures can be taken to improve performance in future. Strategic sourcing involves analyzing internal processes as well as external environment wherein procurements are made.
Spend Management:
Spend management is a software service that helps organizations in managing their procurement activities. It offers benefits such as improved spend visibility, increased efficiency, and better control over business expenditure. The PaaS market has been witnessing strong growth over the past few years on account of the growing demand for cloud-based services across various industries including IT & telecom and BFSI among others.
Application Insights:
The market is segmented by application into manufacturing, BFSI, retail and consumer goods, IT and telecom, energy and utilities, healthcare and others. The BFSI sector accounted for the largest share in 2016 owing to the increasing demand for procurement as a service from various sectors such as banking & financial services. Furthermore, growing government initiatives to reduce paperwork will further fuel the market growth over the forecast period.
The manufacturing segment is expected to witness significant growth over the forecast period due to an increase in product launches coupled with stringent regulations regarding environment protection across various countries worldwide. Moreover, companies are also making use of cloud computing technologies which enable them access highly efficient resources while undertaking global projects thereby driving industry expansion at a rapid pace.
Regional Analysis:
The North America region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The regional market is driven by a rise in demand from small & medium enterprises (SMEs) and large enterprises. The SMEs find it easier to use PaaS as compared to traditional procurement methods, which reduces their administrative costs. Moreover, with cloud-based solutions, SMEs can access resources across multiple locations thereby reducing their overall expenditure on procurement activities.
Asia Pacific is anticipated to be one of the fastest-growing regions over the forecast period owing to several initiatives taken up by governments of various countries such as China & India for improving infrastructure development and implementation of advanced technologies across various sectors such as healthcare, retail & consumer goods among others are driving demand within this region.
Growth Factors:
- Increased focus on cost savings and efficiency: The procurement function is under pressure to reduce costs and improve efficiency. PaaS can help automate and streamline processes, making it easier for buyers to find the best deals and suppliers.
- Greater emphasis on supplier management: As organizations become more reliant on third-party suppliers, effective supplier management becomes increasingly important. PaaS can help manage supplier relationships more effectively, improving quality and compliance while reducing costs.
- Growing demand for transparency and accountability: Procurement is becoming increasingly transparent as organizations strive to demonstrate value to shareholders and other stakeholders. PaaS can help ensure compliance with regulations while providing visibility into procurement activities.
Scope Of The Report
Report Attributes
Report Details
Report Title
Procurement as a Service (PaaS) Market Research Report
By Type
Strategic Sourcing, Spend Management, Category Management, Process Management, Contract Management, Transactions Management, Others
By Application
Manufacturing, BFSI, Retail and Consumer Goods, IT and Telecom, Energy and Utilities, Healthcare, Others
By Companies
Accenture, Infosys, Capgemini, IBM, HCL Technologies, Wipro, GEP, Proxima, Genpact, WNS, Xchanging (DXC Technology), TCS, Broadcom, Aegis, Corbus
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
199
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Procurement as a Service (PaaS) Market Report Segments:
The global Procurement as a Service (PaaS) market is segmented on the basis of:
Types
Strategic Sourcing, Spend Management, Category Management, Process Management, Contract Management, Transactions Management, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Manufacturing, BFSI, Retail and Consumer Goods, IT and Telecom, Energy and Utilities, Healthcare, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Accenture
- Infosys
- Capgemini
- IBM
- HCL Technologies
- Wipro
- GEP
- Proxima
- Genpact
- WNS
- Xchanging (DXC Technology)
- TCS
- Broadcom
- Aegis
- Corbus
 Market Overview.svg)
Highlights of The Procurement as a Service (PaaS) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Strategic Sourcing
- Spend Management
- Category Management
- Process Management
- Contract Management
- Transactions Management
- Others
- By Application:
- Manufacturing
- BFSI
- Retail and Consumer Goods
- IT and Telecom
- Energy and Utilities
- Healthcare
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Procurement as a Service (PaaS) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
PaaS is a cloud-based platform that enables organizations to procure and manage software applications, services, and data. It provides an elastic infrastructure that can scale up or down as needed, making it ideal for managing large volumes of transactions.
Some of the major players in the procurement as a service (paas) market are Accenture, Infosys, Capgemini, IBM, HCL Technologies, Wipro, GEP, Proxima, Genpact, WNS, Xchanging (DXC Technology), TCS, Broadcom, Aegis, Corbus.
The procurement as a service (paas) market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Procurement as a Service (PaaS) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Procurement as a Service (PaaS) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Procurement as a Service (PaaS) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Procurement as a Service (PaaS) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Procurement as a Service (PaaS) Market Size & Forecast, 2018-2028
4.5.1 Procurement as a Service (PaaS) Market Size and Y-o-Y Growth
4.5.2 Procurement as a Service (PaaS) Market Absolute $ Opportunity
Chapter 5 Global Procurement as a Service (PaaS) Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Procurement as a Service (PaaS) Market Size Forecast by Type
5.2.1 Strategic Sourcing
5.2.2 Spend Management
5.2.3 Category Management
5.2.4 Process Management
5.2.5 Contract Management
5.2.6 Transactions Management
5.2.7 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Procurement as a Service (PaaS) Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Procurement as a Service (PaaS) Market Size Forecast by Applications
6.2.1 Manufacturing
6.2.2 BFSI
6.2.3 Retail and Consumer Goods
6.2.4 IT and Telecom
6.2.5 Energy and Utilities
6.2.6 Healthcare
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Procurement as a Service (PaaS) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Procurement as a Service (PaaS) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Procurement as a Service (PaaS) Analysis and Forecast
9.1 Introduction
9.2 North America Procurement as a Service (PaaS) Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Procurement as a Service (PaaS) Market Size Forecast by Type
9.6.1 Strategic Sourcing
9.6.2 Spend Management
9.6.3 Category Management
9.6.4 Process Management
9.6.5 Contract Management
9.6.6 Transactions Management
9.6.7 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Procurement as a Service (PaaS) Market Size Forecast by Applications
9.10.1 Manufacturing
9.10.2 BFSI
9.10.3 Retail and Consumer Goods
9.10.4 IT and Telecom
9.10.5 Energy and Utilities
9.10.6 Healthcare
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Procurement as a Service (PaaS) Analysis and Forecast
10.1 Introduction
10.2 Europe Procurement as a Service (PaaS) Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Procurement as a Service (PaaS) Market Size Forecast by Type
10.6.1 Strategic Sourcing
10.6.2 Spend Management
10.6.3 Category Management
10.6.4 Process Management
10.6.5 Contract Management
10.6.6 Transactions Management
10.6.7 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Procurement as a Service (PaaS) Market Size Forecast by Applications
10.10.1 Manufacturing
10.10.2 BFSI
10.10.3 Retail and Consumer Goods
10.10.4 IT and Telecom
10.10.5 Energy and Utilities
10.10.6 Healthcare
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Procurement as a Service (PaaS) Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Procurement as a Service (PaaS) Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Procurement as a Service (PaaS) Market Size Forecast by Type
11.6.1 Strategic Sourcing
11.6.2 Spend Management
11.6.3 Category Management
11.6.4 Process Management
11.6.5 Contract Management
11.6.6 Transactions Management
11.6.7 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Procurement as a Service (PaaS) Market Size Forecast by Applications
11.10.1 Manufacturing
11.10.2 BFSI
11.10.3 Retail and Consumer Goods
11.10.4 IT and Telecom
11.10.5 Energy and Utilities
11.10.6 Healthcare
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Procurement as a Service (PaaS) Analysis and Forecast
12.1 Introduction
12.2 Latin America Procurement as a Service (PaaS) Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Procurement as a Service (PaaS) Market Size Forecast by Type
12.6.1 Strategic Sourcing
12.6.2 Spend Management
12.6.3 Category Management
12.6.4 Process Management
12.6.5 Contract Management
12.6.6 Transactions Management
12.6.7 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Procurement as a Service (PaaS) Market Size Forecast by Applications
12.10.1 Manufacturing
12.10.2 BFSI
12.10.3 Retail and Consumer Goods
12.10.4 IT and Telecom
12.10.5 Energy and Utilities
12.10.6 Healthcare
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Procurement as a Service (PaaS) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Procurement as a Service (PaaS) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Procurement as a Service (PaaS) Market Size Forecast by Type
13.6.1 Strategic Sourcing
13.6.2 Spend Management
13.6.3 Category Management
13.6.4 Process Management
13.6.5 Contract Management
13.6.6 Transactions Management
13.6.7 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Procurement as a Service (PaaS) Market Size Forecast by Applications
13.10.1 Manufacturing
13.10.2 BFSI
13.10.3 Retail and Consumer Goods
13.10.4 IT and Telecom
13.10.5 Energy and Utilities
13.10.6 Healthcare
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Procurement as a Service (PaaS) Market: Competitive Dashboard
14.2 Global Procurement as a Service (PaaS) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Accenture
14.3.2 Infosys
14.3.3 Capgemini
14.3.4 IBM
14.3.5 HCL Technologies
14.3.6 Wipro
14.3.7 GEP
14.3.8 Proxima
14.3.9 Genpact
14.3.10 WNS
14.3.11 Xchanging (DXC Technology)
14.3.12 TCS
14.3.13 Broadcom
14.3.14 Aegis
14.3.15 Corbus
