The global procurement software market size was estimated at USD 9,273.6 million in 2024 and is projected to reach USD 21,169.2 million by 2033, growing at a CAGR of 9.7% from 2025 to 2033. It enables organizations to automate, streamline, and control various procurement activities such as sourcing, purchasing, contract management, and supplier collaboration.
Key Market Trends & Insights
- North America procurement software dominated the global market with the largest revenue share of over 35.0% in 2024.
- The procurement software industry in U.S. is expected to grow significantly over the forecast period.
- By Software Type, e-procurement segment led the market and held the largest revenue share of 24.00% in 2024.
Market Size & Forecast
- 2024 Market Size: USD 9,273.6 Million
- 2033 Projected Market Size: USD 21,169.2 Million
- CAGR (2025–2033): 9.7%
- North America: Largest market in 2024
As businesses increasingly prioritize cost optimization, compliance, and agility, procurement platforms have evolved from simple transaction-based tools into intelligent, AI-powered ecosystems that deliver real-time visibility and strategic insights. Cloud adoption is a major driver of the procurement software market, as it eliminates the need for costly on-premise infrastructure and offers flexible scalability. Cloud-based procurement platforms allow organizations, particularly SMEs, to access advanced procurement, sourcing, and analytics tools through subscription models, reducing upfront capital investments. These systems also ensure faster deployment, regular updates, and enhanced accessibility across distributed teams. Moreover, cloud-based procurement software seamlessly integrates with enterprise systems such as ERP, CRM, and financial management solutions, ensuring unified data flow and improved decision-making.
Software Type Insights
The e-procurement segment dominated the market and accounted for the revenue share of 24.00% in 2024. Organizations are increasingly replacing manual, paper-based purchasing processes with automated, digital systems that streamline workflows such as requisitioning, approvals, purchase orders, and payments. This automation reduces human error, accelerates procurement cycles, and enhances overall process transparency.
Deployment Insights
The cloud segment dominated the market and accounted for the largest revenue share in 2024. Cloud-based procurement solutions offer significant cost efficiency by removing the need for expensive on-premise infrastructure, hardware, and associated maintenance. Organizations no longer have to invest heavily in servers, storage, or IT personnel to manage procurement systems. Subscription-based Software-as-a-Service (SaaS) models allow companies to pay only for the features and scale they require, converting large capital expenditures into manageable operational costs.
Enterprise Size Insights
The large enterprises segment dominated the market and accounted for the largest revenue share in 2024. This growth is driven by the rising demand for advanced procurement management solutions that can efficiently handle complex supply chains. Such solutions help reduce operational complexity, streamline processes, and provide transparent, real-time information, enabling better decision-making
End Use Insights
The manufacturers and automotive segment dominated the market and accounted for the largest revenue share in 2024. Manufacturers and automotive companies often manage highly complex, multi-tiered supply chains that span multiple countries, suppliers, and production stages. Coordinating procurement across these layers involves tracking raw materials, components, logistics, and supplier performance simultaneously. Robust procurement software helps streamline these operations by providing real-time visibility, automated workflows, and data-driven insights, which reduce errors, delays, and operational risks.
Regional Insights
North America dominated the global market with the largest revenue share of 35.48% in 2024. Across North America, businesses are rapidly embracing digital procurement solutions as part of broader digital transformation strategies. These platforms automate routine procurement tasks, streamline supplier management, and enhance data accuracy.
Key Procurement Software Companies:
The following are the leading companies in the procurement software market. These companies collectively hold the largest market share and dictate industry trends.
- SAP SE
- Proactis Holdings PLC
- Epicor Software Corporation
- Ginesys (Ginni Systems Limited)
- Coupa Software Inc.
- Zycus Inc.
- GT Nexus (Infor Inc.)
- Ivalua Inc.
- Microsoft Corporation
- Oracle Corporation
- Basware AS
- Mercateo AG
- GEP Corporation
- Jaggaer Inc.
Global Procurement Software Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the procurement software market report based on software type, functionality, deployment, enterprise size, end use, and region.
- Software Type Outlook (Revenue, USD Million, 2021–2033)
- Spend Analysis
- E-Sourcing
- E-Procurement
- Contract Management
- Supplier Management
- Others
- Deployment Outlook (Revenue, USD Million, 2021–2033)
- Cloud
- On-Premise
- Enterprise Size Outlook (Revenue, USD Million, 2021–2033)
- Large Enterprises
- Small and Medium Enterprises (SMEs)
- End Use Outlook (Revenue, USD Million, 2021–2033)
- Energy & Utilities
- BFSI
- IT & Telecom
- Manufacturing & Automotive
- Healthcare & Pharmaceuticals
- Retail & E-commerce
- Others
