The Procurement as a Service (PaaS) market is set to witness accelerated growth according to a recent ReportOcean study.
Published on 5th December 2022, the report states that the global Procurement as a Service Market is to reach US$10.04bn by 2027.
DigitalJournal, looking into the report states: “Global Procurement as a service Market [was] valued [at] approximately US$5.78bn in 2020 and is anticipated to grow with a healthy growth rate of more than 8.2% over the forecast period 2021-2027.”
This forecast diverges from that which was reported in Procurement Magazine in November, based on a ReportLinker paper looking into the PaaS market, which predicted: “Global Procurement as-a-Service to reach US$9.6bn by 2027“.
Such forecasts are capricious, but the projections are close in both instances, and whatever the case may be, a positive uptrend is strongly indicated.
Europe is the leading region across the world in terms of PaaS market share due to the increasing use of digital technologies.
Source: https://procurementmag.com/articles/reportocean-paas-report-supports-predictions-of-market-boom
