The Service Procurement Market is expected to register a CAGR of 11.6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Service Procurement Market Report is segmented by Component into the following subsegments: Solutions and Services. It is also segmented by Industry, including BFSI, Government, IT and Telecom, Manufacturing, Retail, Transportation, and others. The Organization Size segmentation includes SMEs and Large Enterprises, as well as Deployment Type, covering On-Premise and Cloud solutions. The global analysis is broken down at the regional level and by major countries. The market evaluation is presented in US$ for the above segmental analysis, with projections through 2031.
The report Service Procurement Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
The regional trends and factors influencing the Service Procurement Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Service Procurement Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ XX million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2025 - 2031) | 11.6% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Service Procurement Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Service Procurement Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The research report on the Service Procurement Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The key vendors of Service Procurement Market comprise Beeline, Coupa Software, Enlighta, PeopleFluent, Pro Unlimited Inc., TargetRecruit, Smart ERP Solutions Inc., Upwork, VectorVMS, WorkMarket, Inc,
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The market is expected to register a CAGR of 11.6% during 2023-2031.
The future trends in the Service Procurement Market are stronger AI-driven procurement solutions to aid in better decision-making, growth of cloud-based procurement platforms, and employing blockchain technology for transparency and reduced fraud within the procurement processes.
The dominating drivers include the increasing dependency of people on digital platforms for procurement and the move toward cloud-based procurement solutions.