The global Procure-to-Pay (P2P) solution market size is anticipated to be worth US$ 15,078.7 million by 2034. According to the estimates, the market is projected to clock a 7.4% CAGR until 2034. In 2024, the procure-to-pay solution market size is valued at US$ 7,405.5 million.
Attributes | Details |
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Procure to Pay Solution Market Size, 2023 | US$ 7,000.5 million |
Procure to Pay Solution Market Size, 2024 | US$ 7,405.5 million |
Procure to Pay Solution Market Size, 2034 | US$ 15,078.7 million |
Value CAGR (2024 to 2034) | 7.4% |
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Development of Mobile Procurement Solutions Presents Opportunities in the Market
In the P2P solutions industry, leveraging the widespread use of mobile devices provides a significant potential. Creating and improving mobile procurement solutions allows consumers to start, authorize, and keep an eye on procurement processes while moving.
The modern worker demands flexibility and response, and this mobile accessibility meets that need. Businesses can accelerate decision-making, improve user engagement, and optimize procurement operations by enabling smooth mobile interactions. This enhances the user experience while simultaneously presenting P2P solution providers as innovative partners that offer solutions that meet the mobile-first demands of modern business professionals.
Ongoing Digitalization of Various Industries Drives Growth and Agility in the Market
Digital transformation is essential to being competitive in the current fast-paced corporate climate. Businesses are using cutting-edge technology, such as purchase-to-pay solutions, to automate and expedite their procurement procedures. Businesses can shorten processing times, eliminate manual mistakes, and improve resource allocation by automating operations like purchase orders, approvals, and invoicing.
This digital revolution drives corporate development and agility in the marketplace by improving operational efficiency and facilitating improved decision-making using real-time data insights.
Robotic Process Automation (RPA) Revolutionizes Procurement Operations in the Market
Robotic Process Automation (RPA) is transforming procurement processes by automating repetitive procedures and workflows throughout procure-to-pay platforms. Organizations can use software robots intended to replicate human activities to expedite procurement procedures such as purchase order creation, invoice processing, and supplier onboarding.
Automation not only shortens cycle times and decreases manual mistakes but also frees up important human resources for strategic initiatives and managing supplier relationships. Businesses that use RPA in procurement can boost their efficiency, reduce costs, and increase agility.
Trends |
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Challenges |
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Segment | On-premise (Deployment) |
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Value Share (2024) | 54.2% |
Based on deployment, the on-premise segment holds 54.2% of market shares in 2024.
Segment | Large Enterprises (Enterprise) |
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Value Share (2024) | 57.2% |
Based on enterprise, the large enterprises segment captured 57.2% of market shares in 2024.
Countries | Value CAGR (2024 to 2034) |
---|---|
United States | 4.2% |
Germany | 2.8% |
Japan | 2.1% |
China | 7.9% |
Australia | 10.9% |
The demand for procure-to-pay solutions in the United States is projected to rise at a 4.2% CAGR through 2034.
The procure-to-pay solution market growth in Germany is estimated at a 2.8% CAGR through 2034.
The demand for procure-to-pay solutions in Japan is anticipated to amplify at a 2.1% CAGR through 2034.
The sales of procure-to-pay solutions in China are estimated to surge at a 7.9% CAGR through 2034.
Procure-to-pay solution sales in Australia are expected to increase at a 10.9% CAGR through 2034.
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The procure-to-pay (P2P) solution industry is highly competitive, with leading competitors striving for market share and visibility. Leading international corporations like SAP Ariba, Coupa, and Oracle dominate the market, employing their vast resources, worldwide reach, and established brand awareness to provide full P2P suites.
These industry heavyweights have strong skills in automating procurement processes, improving supplier engagement, and offering end-to-end solutions that meet the unique demands of leading businesses.
Recent Developments
The procure-to-pay solution market is valued at US$ 7,405.5 million in 2024.
The procure-to-pay solution market size is estimated to increase at a 7.4% CAGR through 2034.
The procure-to-pay solution market is anticipated to be worth US$ 16,078.7 million by 2034.
On-premise witnesses a high demand in the industry.
The procure-to-pay solution market in Australia is predicted to rise at a 10.9% CAGR through 2034.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Deployment 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Deployment, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment, 2024 to 2034 5.3.1. On-Premise 5.3.2. Cloud Base 5.4. Y-o-Y Growth Trend Analysis By Deployment, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Deployment, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Enterprise 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Enterprise, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Enterprise, 2024 to 2034 6.3.1. SME 6.3.2. Large Enterprise 6.4. Y-o-Y Growth Trend Analysis By Enterprise, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Enterprise, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-Use Industry 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By End-Use Industry, 2019 to 2023 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-Use Industry, 2024 to 2034 7.3.1. BFSI 7.3.2. Healthcare 7.3.3. Oil & Gas 7.3.4. Telecommunication 7.3.5. Retail 7.3.6. Automotive 7.3.7. Others 7.4. Y-o-Y Growth Trend Analysis By End-Use Industry, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By End-Use Industry, 2024 to 2034 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023 8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034 8.3.1. North America 8.3.2. Latin America 8.3.3. Western Europe 8.3.4. Eastern Europe 8.3.5. South Asia and Pacific 8.3.6. East Asia 8.3.7. Middle East and Africa 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Deployment 9.2.3. By Enterprise 9.2.4. By End-Use Industry 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Deployment 9.3.3. By Enterprise 9.3.4. By End-Use Industry 9.4. Key Takeaways 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Deployment 10.2.3. By Enterprise 10.2.4. By End-Use Industry 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Deployment 10.3.3. By Enterprise 10.3.4. By End-Use Industry 10.4. Key Takeaways 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. UK 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Western Europe 11.2.2. By Deployment 11.2.3. By Enterprise 11.2.4. By End-Use Industry 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Deployment 11.3.3. By Enterprise 11.3.4. By End-Use Industry 11.4. Key Takeaways 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. Poland 12.2.1.2. Russia 12.2.1.3. Czech Republic 12.2.1.4. Romania 12.2.1.5. Rest of Eastern Europe 12.2.2. By Deployment 12.2.3. By Enterprise 12.2.4. By End-Use Industry 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Deployment 12.3.3. By Enterprise 12.3.4. By End-Use Industry 12.4. Key Takeaways 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. India 13.2.1.2. Bangladesh 13.2.1.3. Australia 13.2.1.4. New Zealand 13.2.1.5. Rest of South Asia and Pacific 13.2.2. By Deployment 13.2.3. By Enterprise 13.2.4. By End-Use Industry 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Deployment 13.3.3. By Enterprise 13.3.4. By End-Use Industry 13.4. Key Takeaways 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. China 14.2.1.2. Japan 14.2.1.3. South Korea 14.2.2. By Deployment 14.2.3. By Enterprise 14.2.4. By End-Use Industry 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Deployment 14.3.3. By Enterprise 14.3.4. By End-Use Industry 14.4. Key Takeaways 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of MEA 15.2.2. By Deployment 15.2.3. By Enterprise 15.2.4. By End-Use Industry 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Deployment 15.3.3. By Enterprise 15.3.4. By End-Use Industry 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. USA 16.1.1. Market Share Analysis, 2023 16.1.1.1. By Deployment 16.1.1.2. By Enterprise 16.1.1.3. By End-Use Industry 16.2. Canada 16.2.1. Market Share Analysis, 2023 16.2.1.1. By Deployment 16.2.1.2. By Enterprise 16.2.1.3. By End-Use Industry 16.3. Brazil 16.3.1. Market Share Analysis, 2023 16.3.1.1. By Deployment 16.3.1.2. By Enterprise 16.3.1.3. By End-Use Industry 16.4. Mexico 16.4.1. Market Share Analysis, 2023 16.4.1.1. By Deployment 16.4.1.2. By Enterprise 16.4.1.3. By End-Use Industry 16.5. Germany 16.5.1. Market Share Analysis, 2023 16.5.1.1. By Deployment 16.5.1.2. By Enterprise 16.5.1.3. By End-Use Industry 16.6. UK 16.6.1. Market Share Analysis, 2023 16.6.1.1. By Deployment 16.6.1.2. By Enterprise 16.6.1.3. By End-Use Industry 16.7. France 16.7.1. Market Share Analysis, 2023 16.7.1.1. By Deployment 16.7.1.2. By Enterprise 16.7.1.3. By End-Use Industry 16.8. Spain 16.8.1. Market Share Analysis, 2023 16.8.1.1. By Deployment 16.8.1.2. By Enterprise 16.8.1.3. By End-Use Industry 16.9. Italy 16.9.1. Market Share Analysis, 2023 16.9.1.1. By Deployment 16.9.1.2. By Enterprise 16.9.1.3. By End-Use Industry 16.10. Poland 16.10.1. Market Share Analysis, 2023 16.10.1.1. By Deployment 16.10.1.2. By Enterprise 16.10.1.3. By End-Use Industry 16.11. Russia 16.11.1. Market Share Analysis, 2023 16.11.1.1. By Deployment 16.11.1.2. By Enterprise 16.11.1.3. By End-Use Industry 16.12. Czech Republic 16.12.1. Market Share Analysis, 2023 16.12.1.1. By Deployment 16.12.1.2. By Enterprise 16.12.1.3. By End-Use Industry 16.13. Romania 16.13.1. Market Share Analysis, 2023 16.13.1.1. By Deployment 16.13.1.2. By Enterprise 16.13.1.3. By End-Use Industry 16.14. India 16.14.1. Market Share Analysis, 2023 16.14.1.1. By Deployment 16.14.1.2. By Enterprise 16.14.1.3. By End-Use Industry 16.15. Bangladesh 16.15.1. Market Share Analysis, 2023 16.15.1.1. By Deployment 16.15.1.2. By Enterprise 16.15.1.3. By End-Use Industry 16.16. Australia 16.16.1. Market Share Analysis, 2023 16.16.1.1. By Deployment 16.16.1.2. By Enterprise 16.16.1.3. By End-Use Industry 16.17. New Zealand 16.17.1. Market Share Analysis, 2023 16.17.1.1. By Deployment 16.17.1.2. By Enterprise 16.17.1.3. By End-Use Industry 16.18. China 16.18.1. Market Share Analysis, 2023 16.18.1.1. By Deployment 16.18.1.2. By Enterprise 16.18.1.3. By End-Use Industry 16.19. Japan 16.19.1. Market Share Analysis, 2023 16.19.1.1. By Deployment 16.19.1.2. By Enterprise 16.19.1.3. By End-Use Industry 16.20. South Korea 16.20.1. Market Share Analysis, 2023 16.20.1.1. By Deployment 16.20.1.2. By Enterprise 16.20.1.3. By End-Use Industry 16.21. GCC Countries 16.21.1. Market Share Analysis, 2023 16.21.1.1. By Deployment 16.21.1.2. By Enterprise 16.21.1.3. By End-Use Industry 16.22. South Africa 16.22.1. Market Share Analysis, 2023 16.22.1.1. By Deployment 16.22.1.2. By Enterprise 16.22.1.3. By End-Use Industry 16.23. Israel 16.23.1. Market Share Analysis, 2023 16.23.1.1. By Deployment 16.23.1.2. By Enterprise 16.23.1.3. By End-Use Industry 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Deployment 17.3.3. By Enterprise 17.3.4. By End-Use Industry 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. SAP SE 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.2. Zycus Inc 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.3. Infosys Limited 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.4. Bertelsmann SE & Co 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.5. Comarch SA 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.6. Ariba Inc 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.7. ProActis 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.8. GEP 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.9. Oracle 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.10. Wax Digital 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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