The global Procure-to-Pay (P2P) solution market size is anticipated to be worth US$ 21,460 million by 2034. According to the estimates, the market is projected to clock a 12.9% CAGR until 2034. In 2024, the procure-to-pay solution market size is valued at US$ 6,363 million.
Attributes | Details |
---|---|
Procure to Pay Solution Market Size, 2023 | US$ 5,726 million |
Procure to Pay Solution Market Size, 2024 | US$ 6,363 million |
Procure to Pay Solution Market Size, 2034 | US$ 21,460 million |
Value CAGR (2024 to 2034) | 12.9% |
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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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Opportunities |
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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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