Procurement As A Service Market Size

Procurement as a Service Market size was over USD 6.4 Billion in 2023 and is anticipated to exceed USD 30 Billion by the end of 2036, witnessing over 10.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of procurement as a service is assessed at USD 8 Billion.

During the COVID-19 pandemic, the need for remote working policies contributed to the growth of the global remote access solution and automated solutions industry, including procurement services and solutions. This in turn fuelled the demand for the procurement as a service market. According to the U.S. Census Bureau, 5.7% of US workers were working from home in 2019, prior to the COVID-19 pandemic. In two years, however, this figure increased to 17.9% on the back of nearly 19 million new jobs.