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.