Global Service Procurement Market Size study & Forecast, by Component (Strategic Sourcing, Spend Management, Process Management), Enterprise Size, Vertical and Regional Forecasts 2025-2035

Description

Market Definition and Overview

The Global Service Procurement Market is valued approximately at USD 6.89 billion in 2024 and is anticipated to grow at a remarkable CAGR of 14.4% over the forecast period 2025-2035. Service procurement refers to the practice of sourcing, managing, and optimizing an organization's external services. Unlike conventional procurement focused primarily on goods, service procurement involves overseeing complex engagements such as contingent labor, consulting, IT services, and facilities management. As enterprises continue to navigate a landscape defined by globalization, digital transformation, and heightened regulatory oversight, procurement leaders are under pressure to align service acquisition strategies with organizational goals, manage risks more effectively, and deliver measurable value. This rapid evolution of service procurement is further propelled by the surge in demand for transparency in supplier relationships and the growing reliance on technology platforms that streamline sourcing workflows.

Organizations across industries are rethinking how they manage service-based engagements, particularly in the wake of expanding global operations and the rising importance of flexible, project-based labor. The growing complexity of services, coupled with the need to optimize costs, has compelled enterprises to adopt digital procurement solutions. According to various industry reports, businesses are shifting from manual service requisitions to centralized procurement platforms that leverage artificial intelligence, automation, and analytics for smarter decision-making. Furthermore, the rise of gig economy models and vendor ecosystems has accelerated the need for procurement frameworks that balance agility with governance. Although the market outlook remains bright, challenges such as compliance risks, integration complexities, and data security concerns are expected to temper growth prospects during the forecast period.

The detailed segments and sub-segments included in the report are:

By Component:

Strategic Sourcing
Spend Management
Process Management

By Enterprise Size:

Small & Medium Enterprises (SMEs)
Large Enterprises

By Vertical:

BFSI
Telecom & IT
Manufacturing
Healthcare
Retail & Consumer Goods
Energy & Utilities
Government & Public Sector
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa
Strategic Sourcing is Expected to Dominate the Market
Within the component landscape, strategic sourcing is anticipated to hold the lion's share of the market during the forecast period. Companies are increasingly seeking structured approaches to supplier selection, contract management, and performance evaluation to drive cost savings and mitigate risks. This dominance can be attributed to the rising emphasis on aligning procurement strategies with long-term business objectives, ensuring that services are not only cost-effective but also deliver consistent value. While strategic sourcing maintains a commanding position, process management is gaining momentum as businesses push for real-time visibility and operational agility in service procurement.
Large Enterprises Lead in Revenue Contribution
When analyzed by enterprise size, large enterprises continue to generate the majority of the revenue within the service procurement market. Their vast budgets, complex supply chains, and reliance on multiple third-party service providers necessitate advanced procurement systems capable of managing large-scale operations. These organizations are at the forefront of adopting AI-enabled platforms, automated workflows, and data-driven supplier collaboration models. Conversely, SMEs, while currently contributing a smaller share, are emerging as a high-growth segment as cloud-based procurement solutions become more affordable and scalable, enabling them to compete more effectively.
The key regions considered for the Global Service Procurement Market study include Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America dominated the market in 2025, underpinned by the presence of mature enterprises, widespread adoption of procurement technologies, and strong regulatory frameworks that demand compliance. The region's emphasis on digital transformation has accelerated investments in service procurement solutions, particularly in the BFSI and healthcare verticals. Asia Pacific, on the other hand, is projected to register the fastest growth through 2035. The region's rapid industrialization, burgeoning SME sector, and increased focus on vendor risk management are fostering demand for procurement platforms. Europe is also demonstrating steady traction, propelled by stringent sustainability regulations and the need for transparent supplier engagement across industries.

Major market players included in this report are:

SAP SE
IBM Corporation
Oracle Corporation
Coupa Software Inc.
Workday, Inc.
Zycus Inc.
GEP Worldwide
Beeline International, Inc.
PRO Unlimited, Inc.
PeopleFluent, Inc.
Epicor Software Corporation
Basware Corporation
Ivalua Inc.
Infor Inc.
JAGGAER

Global Service Procurement Market Report Scope:

Historical Data - 2023, 2024
Base Year for Estimation - 2024
Forecast period - 2025-2035
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

Key Takeaways:

Market Estimates & Forecast for 10 years from 2025 to 2035.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of the geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of the competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Service Procurement Market Report Scope & Methodology

1.1. Research Objective
1.2. Research Methodology
- 1.2.1. Forecast Model
- 1.2.2. Desk Research
- 1.2.3. Top Down and Bottom-Up Approach
1.3. Research Attributes
1.4. Scope of the Study
- 1.4.1. Market Definition
- 1.4.2. Market Segmentation
1.5. Research Assumption
- 1.5.1. Inclusion & Exclusion
- 1.5.2. Limitations
- 1.5.3. Years Considered for the Study

Chapter 2. Executive Summary

2.1. CEO/CXO Standpoint
2.2. Strategic Insights
2.3. ESG Analysis
2.4. key Findings

Chapter 3. Global Service Procurement Market Forces Analysis

3.1. Market Forces Shaping The Global Service Procurement Market (2024-2035)
3.2. Drivers
- 3.2.1. surge in demand for transparency in supplier relationships
- 3.2.2. the growing reliance on technology platforms that streamline sourcing workflows
3.3. Restraints
- 3.3.1. integration complexities
3.4. Opportunities
- 3.4.1. analytics for smarter decision-making

Chapter 4. Global Service Procurement Industry Analysis

4.1. Porter's 5 Forces Model
- 4.1.1. Bargaining Power of Buyer
- 4.1.2. Bargaining Power of Supplier
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Forecast Model (2024-2035)
4.3. PESTEL Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top Investment Opportunities
4.5. Top Winning Strategies (2025)
4.6. Market Share Analysis (2024-2025)
4.7. Global Pricing Analysis And Trends 2025
4.8. Analyst Recommendation & Conclusion

Chapter 5. Global Service Procurement Market Size & Forecasts by Component 2025-2035

5.1. Market Overview
5.2. Global Service Procurement Market Performance - Potential Analysis (2025)
5.3. Strategic Sourcing
- 5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.3.2. Market size analysis, by region, 2025-2035
5.4. Spend Management
- 5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.4.2. Market size analysis, by region, 2025-2035
5.5. Process Management
- 5.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.5.2. Market size analysis, by region, 2025-2035

Chapter 6. Global Service Procurement Market Size & Forecasts by Type 2025-2035

6.1. Market Overview
6.2. Global Service Procurement Market Performance - Potential Analysis (2025)
6.3. Small & Medium Enterprises (SMEs)
- 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.3.2. Market size analysis, by region, 2025-2035
6.4. Large Enterprises
- 6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.4.2. Market size analysis, by region, 2025-2035

Chapter 7. Global Service Procurement Market Size & Forecasts by Application 2025-2035

7.1. Market Overview
7.2. Global Service Procurement Market Performance - Potential Analysis (2025)
7.3. BFSI
- 7.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.3.2. Market size analysis, by region, 2025-2035
7.4. Telecom & IT
- 7.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.4.2. Market size analysis, by region, 2025-2035
7.5. Manufacturing
- 7.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.5.2. Market size analysis, by region, 2025-2035
7.6. Healthcare
- 7.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.6.2. Market size analysis, by region, 2025-2035
7.7. Retail & Consumer Goods
- 7.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.7.2. Market size analysis, by region, 2025-2035
7.8. Energy & Utilities
- 7.8.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.8.2. Market size analysis, by region, 2025-2035
7.9. Government & Public Sector
- 7.9.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.9.2. Market size analysis, by region, 2025-2035
7.10. Others
- 7.10.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.10.2. Market size analysis, by region, 2025-2035

Chapter 8. Global Service Procurement Market Size & Forecasts by Region 2025-2035

8.1. Growth Service Procurement Market, Regional Market Snapshot
8.2. Top Leading & Emerging Countries
8.3. North America Service Procurement Market
- 8.3.1. U.S. Service Procurement Market
  - 8.3.1.1. Component breakdown size & forecasts, 2025-2035
  - 8.3.1.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.3.1.3. Vertical breakdown size & forecasts, 2025-2035
- 8.3.2. Canada Service Procurement Market
  - 8.3.2.1. Component breakdown size & forecasts, 2025-2035
  - 8.3.2.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.3.2.3. Vertical breakdown size & forecasts, 2025-2035
8.4. Europe Service Procurement Market
- 8.4.1. UK Service Procurement Market
  - 8.4.1.1. Component breakdown size & forecasts, 2025-2035
  - 8.4.1.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.4.1.3. Vertical breakdown size & forecasts, 2025-2035
- 8.4.2. Germany Service Procurement Market
  - 8.4.2.1. Component breakdown size & forecasts, 2025-2035
  - 8.4.2.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.4.2.3. Vertical breakdown size & forecasts, 2025-2035
- 8.4.3. France Service Procurement Market
  - 8.4.3.1. Component breakdown size & forecasts, 2025-2035
  - 8.4.3.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.4.3.3. Vertical breakdown size & forecasts, 2025-2035
- 8.4.4. Spain Service Procurement Market
  - 8.4.4.1. Component breakdown size & forecasts, 2025-2035
  - 8.4.4.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.4.4.3. Vertical breakdown size & forecasts, 2025-2035
- 8.4.5. Italy Service Procurement Market
  - 8.4.5.1. Component breakdown size & forecasts, 2025-2035
  - 8.4.5.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.4.5.3. Vertical breakdown size & forecasts, 2025-2035
- 8.4.6. Rest of Europe Service Procurement Market
  - 8.4.6.1. Component breakdown size & forecasts, 2025-2035
  - 8.4.6.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.4.6.3. Vertical breakdown size & forecasts, 2025-2035
8.5. Asia Pacific Service Procurement Market
- 8.5.1. China Service Procurement Market
  - 8.5.1.1. Component breakdown size & forecasts, 2025-2035
  - 8.5.1.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.5.1.3. Vertical breakdown size & forecasts, 2025-2035
- 8.5.2. India Service Procurement Market
  - 8.5.2.1. Component breakdown size & forecasts, 2025-2035
  - 8.5.2.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.5.2.3. Vertical breakdown size & forecasts, 2025-2035
- 8.5.3. Japan Service Procurement Market
  - 8.5.3.1. Component breakdown size & forecasts, 2025-2035
  - 8.5.3.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.5.3.3. Vertical breakdown size & forecasts, 2025-2035
- 8.5.4. Australia Service Procurement Market
  - 8.5.4.1. Component breakdown size & forecasts, 2025-2035
  - 8.5.4.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.5.4.3. Vertical breakdown size & forecasts, 2025-2035
- 8.5.5. South Korea Service Procurement Market
  - 8.5.5.1. Component breakdown size & forecasts, 2025-2035
  - 8.5.5.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.5.5.3. Vertical breakdown size & forecasts, 2025-2035
- 8.5.6. Rest of APAC Service Procurement Market
  - 8.5.6.1. Component breakdown size & forecasts, 2025-2035
  - 8.5.6.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.5.6.3. Vertical breakdown size & forecasts, 2025-2035
8.6. Latin America Service Procurement Market
- 8.6.1. Brazil Service Procurement Market
  - 8.6.1.1. Component breakdown size & forecasts, 2025-2035
  - 8.6.1.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.6.1.3. Vertical breakdown size & forecasts, 2025-2035
- 8.6.2. Mexico Service Procurement Market
  - 8.6.2.1. Component breakdown size & forecasts, 2025-2035
  - 8.6.2.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.6.2.3. Vertical breakdown size & forecasts, 2025-2035
8.7. Middle East and Africa Service Procurement Market
- 8.7.1. UAE Service Procurement Market
  - 8.7.1.1. Component breakdown size & forecasts, 2025-2035
  - 8.7.1.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.7.1.3. Vertical breakdown size & forecasts, 2025-2035
- 8.7.2. Saudi Arabia (KSA) Service Procurement Market
  - 8.7.2.1. Component breakdown size & forecasts, 2025-2035
  - 8.7.2.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.7.2.3. Vertical breakdown size & forecasts, 2025-2035
- 8.7.3. South Africa Service Procurement Market
  - 8.7.3.1. Component breakdown size & forecasts, 2025-2035
  - 8.7.3.2. Enterprise Size breakdown size & forecasts, 2025-2035
  - 8.7.3.3. Vertical breakdown size & forecasts, 2025-2035

Chapter 9. Competitive Intelligence

9.1. Top Market Strategies
9.2. SAP SE
- 9.2.1. Company Overview
- 9.2.2. Key Executives
- 9.2.3. Company Snapshot
- 9.2.4. Financial Performance (Subject to Data Availability)
- 9.2.5. Product/Services Port
- 9.2.6. Recent Development
- 9.2.7. Market Strategies
- 9.2.8. SWOT Analysis
9.3. IBM Corporation
9.4. Oracle Corporation
9.5. Coupa Software Inc.
9.6. Workday, Inc.
9.7. Zycus Inc.
9.8. GEP Worldwide
9.9. Beeline International, Inc.
9.10. PRO Unlimited, Inc.
9.11. PeopleFluent, Inc.
9.12. Epicor Software Corporation
9.13. Basware Corporation
9.14. Ivalua Inc.
9.15. Infor Inc.
9.16. JAGGAER