Global Digitalization of Procurement Market Research Report 2025(Status and Outlook)

Report Overview

Digitalization of procurement refers to the process of utilizing digital technologies and tools to streamline and automate the procurement process within an organization. This includes activities such as sourcing suppliers, negotiating contracts, purchasing goods and services, and managing supplier relationships. By leveraging digital platforms, cloud-based solutions, artificial intelligence, and data analytics, organizations can improve efficiency, reduce costs, enhance transparency, and mitigate risks in their procurement operations. Digitalization of procurement enables organizations to make data-driven decisions, optimize their supply chain, and ultimately drive business growth.

The market for digitalization of procurement is experiencing significant growth and is driven by several key factors. One of the primary market trends is the increasing adoption of cloud-based procurement solutions by organizations of all sizes. Cloud-based platforms offer scalability, flexibility, and cost-effectiveness, making them an attractive option for companies looking to modernize their procurement processes. Additionally, the rise of artificial intelligence and machine learning technologies is revolutionizing procurement by enabling predictive analytics, supplier performance monitoring, and automated decision-making. These technologies are helping organizations to improve efficiency, reduce errors, and drive innovation in their procurement operations. Moreover, the growing focus on sustainability and ethical sourcing practices is driving the demand for digital procurement solutions that can track and verify the environmental and social impact of suppliers.

At the same time, the market for digitalization of procurement is being propelled by the increasing complexity of global supply chains and the need for greater transparency and compliance. Organizations are facing challenges such as supply chain disruptions, geopolitical uncertainties, and regulatory requirements that require robust procurement processes and tools to address. As a result, there is a growing demand for digital procurement solutions that can provide real-time visibility into the entire procurement lifecycle, from sourcing to payment. In addition, the COVID-19 pandemic has accelerated the adoption of digital procurement technologies as organizations seek to digitize their operations, enable remote work, and build resilience in their supply chains. Overall, the market for digitalization of procurement is poised for continued growth as organizations recognize the strategic importance of digital transformation in driving operational efficiency and competitive advantage.

The global Digitalization of Procurement market size was estimated at USD 1851.25 million in 2024 and is projected to reach USD 3110.14 million by 2033, exhibiting a CAGR of 6.70% during the forecast period.

This report provides a deep insight into the global Digitalization of Procurement market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, PEST analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Digitalization of Procurement Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Digitalization of Procurement market in any manner.

Global Digitalization of Procurement Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

Icertis

Basware

Capgeimini

Epicor

GEP

IBM

JAGGAER

Coupa Software

Oracle

SAP

Procurify

Precoro

Tradogram

Bellwether Software

Pipefy

Prokuria

RFP360

Procurement Express

Kissflow

Fraxion

Market Segmentation (by Type)

Software

Platform

Market Segmentation (by Application)

Large Enterprises

Small and Medium Enterprises

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Digitalization of Procurement Market

Overview of the regional outlook of the Digitalization of Procurement Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors

You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents

The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly

Provision of market value data for each segment and sub-segment

Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players

The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis

Provides insight into the market through Value Chain

Market dynamics scenario, along with growth opportunities of the market in the years to come

Chapter Outline

Chapter 1 mainly introduces the statistical scope of the report, market division standards, and market research methods.

Chapter 2 is an executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the Digitalization of Procurement Market and its likely evolution in the short to mid-term, and long term.

Chapter 3 makes a detailed analysis of the market's competitive landscape of the market and provides the market share, capacity, output, price, latest development plan, merger, and acquisition information of the main manufacturers in the market.

Chapter 4 is the analysis of the whole market industrial chain, including the upstream and downstream of the industry, as well as Porter's five forces analysis.

Chapter 5 introduces the latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 6 provides the analysis of various market segments according to product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 7 provides the analysis of various market segments according to application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 8 provides a quantitative analysis of the market size and development potential of each region from the consumer side and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.

Chapter 9 shares the main producing countries of Digitalization of Procurement, their output value, profit level, regional supply, production capacity layout, etc. from the supply side.

Chapter 10 introduces the basic situation of the main companies in the market in detail, including product sales revenue, sales volume, price, gross profit margin, market share, product introduction, recent development, etc.

Chapter 11 provides a quantitative analysis of the market size and development potential of each region during the forecast period.

Chapter 12 provides a quantitative analysis of the market size and development potential of each market segment during the forecast period.

Chapter 13 is the main points and conclusions of the report.