Procurement applications market size worldwide 2015-2023

The procurement software application market will bring in an estimated 5.59 billion U.S. dollars in total revenue in 2020. The market is projected to experience a slow but steady expansion in the coming years, with a constant annual growth rate of 2.6 percent.

Procurement software

Procurement software is used by businesses around the world to assist with many of the tasks associated with purchasing, receiving, and paying for commercial goods. It is often classified under the more general field of supply chain management (SCM) software, which assists in the control of products from the “raw material” stage all the way to “final good” stage. The biggest companies in the SCM/procurement software market are tech giants SAP and Oracle, both of which account for double digit shares of the overall market. In 2017, SAP brought in well over three billion dollars in revenue from SCM/procurement software alone, while Oracle earned over 1.5 billion dollars. As a whole, the combined SCM and procurement software markets brought in around 14 billion dollars in 2018 and have experienced overall revenue growth year after year.

Procurement software applications market revenues worldwide from 2015 to 2023

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Release date

December 2019



Survey time period

2015 to 2018

Supplementary notes

* Forecast.
For this statistic, the figures from 2019 to 2022 were rounded after being calculated using a constant annual growth rate of 2.6 percent, based on data provided by the source.

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