Procurement Analytics Market Size

Procurement Analytics Market size was over USD 4.59 billion in 2024 and is anticipated to exceed USD 77.61 billion by the end of 2037, growing at over 24.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of procurement analytics is evaluated at USD 5.48 billion.

The use of procurement analytics technology and services is expected to be fueled by rising corporate spending on marketing and advertising, a shifting customer intelligence environment to drive the market, and the expansion of customer channels. The annual global expenditure on advertising is estimated to be USD 674 billion.

In addition, one of the major drivers for procurement analytics is automation. The tremendous requirement that enterprises have for contract and compliance management contributes to the rising demand. For example, the U.S. software giant ServiceNow updated its current product to include a procurement service management component that helps with other field activity management. The goal of ServiceNow is to automate workflows related to and involved in procurement.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of procurement analytics is evaluated at USD 5.48 billion.

Procurement Analytics Market size was over USD 4.59 billion in 2024 and is anticipated to exceed USD 77.61 billion by the end of 2037, growing at over 24.3% CAGR during the forecast period i.e., between 2025-2037. Rising corporate spending on marketing and advertising and a shifting customer intelligence environment will drive the market growth.

North America industry is estimated to account for largest revenue share of 34% by 2037, impelled by rise in spending on risk management, supply chain analytics, and vendor analytical solutions in the region.

The major players in the market are Croda International Plc, Oleon NV, Wilmar Group, Occidental Petroleum Corporation, Ercros, S.A., FMC Corporation, Olin Corporation, Tokyo Chemical industry Co., Ltd., Nissan Chemcial corporation, and others.

Procurement Analytics Market Size