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Procurement Software Market to Grow by USD 6.66 Billion (2025-2029), Boosted by E-commerce and Retail Growth, Market Evolution Powered by AI – Technavio

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NEW YORK, Feb. 7, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global procurement software market size is estimated to grow by USD 6.66 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  11.3%  during the forecast period. Growth in e-commerce and organized retail industry is driving market growth, with a trend towards integration of ai in procurement process. However, complexity regarding integration with existing system and supplier onboarding  poses a challenge. Key market players include Basware Corp., BirchStreet Systems Inc., Coupa Software Inc., Elcom System Ltd., Enaviya Information Technology Pvt. Ltd., Epicor Software Corp., Ginni Systems Ltd., Infor Inc., International Business Machines Corp., Ivalua Inc., JAGGAER LLC, Microsoft Corp., NB Ventures Inc., Oracle Corp., ORO Labs Inc., SAP SE, ScienceSoft USA Corp., SunSmart Technologies Pvt. Ltd., SutiSoft Inc., Tata Consultancy Services Ltd., Tropic Technologies Inc., Workday Inc., and Zycus Inc..

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Procurement Software Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 11.3%

Market growth 2025-2029

USD 6663.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.3

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key countries

US, Germany, Canada, UK, China, France, Italy, India, Japan, and South Korea

Key companies profiled

Basware Corp., BirchStreet Systems Inc., Coupa Software Inc., Elcom System Ltd., Enaviya Information Technology Pvt. Ltd., Epicor Software Corp., Ginni Systems Ltd., Infor Inc., International Business Machines Corp., Ivalua Inc., JAGGAER LLC, Microsoft Corp., NB Ventures Inc., Oracle Corp., ORO Labs Inc., SAP SE, ScienceSoft USA Corp., SunSmart Technologies Pvt. Ltd., SutiSoft Inc., Tata Consultancy Services Ltd., Tropic Technologies Inc., Workday Inc., and Zycus Inc.

Market Driver

The procurement software market is experiencing significant trends with the increasing adoption of AP automation, cloud sourcing, and cloud-based procurement contracts. Procure-to-Pay Suites, eProcurement Software, and AI are driving digitization in procurement processes, making them more automated and transparent for businesses. Cloud solutions are popular among SMEs and large enterprises in retail & e-commerce, healthcare and pharmaceutical, manufacturing & automotive, IT & telecom, oil & gas, and energy & utilities. Emerging technologies like Machine Learning (ML) and blockchain technology are enhancing supply chain planning and capacity management. Major market players like GEP and Cheniere Energy Inc are forecasting opportunities in this market during the upcoming years. The procurement software market offers solutions to streamline spending, improve quality, and provide infrastructure for company-wise production and supply chain management. 

The digital transformation of businesses is driving the adoption of advanced solutions in various industries. Procurement software is a prime example, with many companies opting for real-time, AI-powered systems to gain a competitive edge. These systems offer features like virtual agents, chatbots, suggestive web searches, pattern recognition, machine translation, and automatic scheduling. By integrating AI into procurement processes, enterprises can streamline operations, improve accuracy, and gain a centralized view of their business-related data. This not only enhances efficiency but also enables better decision-making. AI-driven procurement software is an essential investment for modern businesses seeking to stay competitive in today’s market. 

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Market Challenges

The procurement software market is experiencing significant growth due to the increasing adoption of automation in AP processes, cloud sourcing, and cloud-based procurement contracts. The market is driven by major factors such as digitization, funding, and spending trends in various industries. Emerging technologies like AI, machine learning (ML), blockchain technology, and supply chain planning are transforming procurement processes for both SMEs and large enterprises in sectors like retail & e-commerce, healthcare and pharmaceutical, manufacturing & automotive, IT & telecom, oil & gas, and energy & utilities. Companies like GEP and Cheniere Energy Inc are leading the way with On-Cloud solutions that offer transparent information, automation, and quality infrastructure. However, challenges like duplication of records and complexity remain, providing opportunities for market players to innovate and improve their procurement software solutions throughout the forecast period.Procurement software integration poses challenges due to the unique systems and suppliers in each organization. Compatibility issues are a primary concern, as outdated technologies in existing systems can hinder the installation of new procurement software. This may necessitate modifications, adding complexity to the integration process. Supplier technological capabilities also vary, with some lacking the resources or knowledge to integrate with new software. This can cause delays in onboarding suppliers, potentially impacting organizational efficiency.

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Segment Overview 

This procurement software market report extensively covers market segmentation by  

DeploymentCloud-basedOn-premisesEnd-userRetail And E-commerceHealthcare And PharmaceuticalsManufacturing And AutomotiveIT And TelecomOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

1.1 Cloud-based-  Many vendors, including BirchStreet Systems and Coupa Software, provide procurement software through the software-as-a-service (SaaS) model to meet the expanding demand for cloud-based procurement solutions. Cloud-based procurement software is less costly than on-premises alternatives since it doesn’t necessitate hardware and software installation at the enterprise. Instead, it is maintained at the vendor’s data center and accessed via subscription. Enterprises pay a monthly or yearly fee per device, which includes maintenance and upgrades. This model is particularly advantageous for small and mid-sized enterprises, enabling them to streamline operations, reduce errors, and lower costs. The deployment of cloud-based procurement software is simpler and quicker than on-premises software, resulting in a faster return on investment (ROI). BirchStreet Systems offers a cloud-based procurement solution that automates the Procure-to-Pay (P2P) process for enterprises, enhancing control and visibility over back-office operations and supply chains. This solution also connects businesses and suppliers for increased transparency, efficiency, financial control, accountability, and reduced compliance gaps, leading to significant business process improvements and real supply cost savings. The rapid growth of the cloud-based deployment segment is anticipated to fuel the expansion of the global procurement software market during the forecast period.

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Research Analysis

The procurement software market is experiencing significant growth due to the increasing digitization of business processes. Cloud sourcing and cloud-based procurement contracts are becoming increasingly popular, allowing companies to access procurement solutions on-demand and reduce upfront costs. The market is witnessing a shift towards Procure-to-Pay Suites and eProcurement Software, which automate the entire procurement process from requisition to payment. Emerging technologies like Artificial Intelligence (AI) are being integrated into procurement software to enhance efficiency, reduce errors, and provide transparent information. The procurement process is becoming more complex, requiring advanced solutions to manage company-wise production capacity, supply chain, and funding. Opportunities in this market are majorly driven by the need for streamlined procurement processes, cost savings, and improved supply chain visibility.

Market Research Overview

The procurement software market is experiencing significant growth due to the increasing digitization of business processes. Cloud-based solutions, such as eProcurement Software and Procure-to-Pay Suites, are becoming increasingly popular. AP Automation and AI are major factors driving this market, providing automation, transparency, and opportunity for major cost savings. Emerging technologies like Machine Learning (ML) and blockchain technology are also gaining traction, offering enhanced supply chain planning and security. The market caters to various industries, including SMEs, large enterprises, retail & e-commerce, healthcare and pharmaceutical, manufacturing & automotive, IT & telecom, oil & gas, and energy & utilities. The procurement software market is expected to grow substantially during the forecast period, with funding and spending on cloud solutions continuing to increase. Companies are investing in On-Cloud solutions for company-wise production capacity and supply chain management. The market presents significant opportunities for brands to improve quality, reduce complexity, and provide transparent information to customers. Cheniere Energy Inc. Is one of the many companies leveraging these solutions to streamline their procurement process.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentCloud-basedOn-premisesEnd-userRetail And E-commerceHealthcare And PharmaceuticalsManufacturing And AutomotiveIT And TelecomOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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LianLian Global and PayPal Power Cross-Border Payouts for Social Commerce, Marketplace, and eCommerce Customers

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October 23, 2026

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Social commerce, marketplaces and eCommerce players served by LianLian Global can now pay creators, influencers, developers, and independent contractors directly to their PayPal and Venmo wallets.

NEW YORK, Oct. 22, 2026 /PRNewswire/ — LianLian Global  today announced it has partnered with PayPal (NASDAQ: PYPL) to enable its social commerce, marketplace and e-commerce clients to send payouts directly to PayPal accounts globally and to Venmo accounts in the U.S.

The creator and gig economy runs on fast, low-friction payouts. Brands are expected to spend $32.6 billion on creators in 2026 and roughly 50 million people worldwide create content professionally or semi-professionally (Gigapay Global Creator Economy Report 2026). Many of these recipients already hold a PayPal or Venmo account: PayPal had over 400 million active accounts across approximately 200 markets at the end of Q2 2026, and Venmo reached 67 million monthly active accounts in Q4 2025.

Paypal Payouts is live in 96 global markets and 24 currencies. It allows merchants to send to any email address, mobile number, or Venmo user handle, with or without an existing PayPal or Venmo account.

To support enterprises expanding globally, LianLian Global provides digital payment services including pay-in, pay-out, acquiring, foreign exchange, virtual cards and payment aggregation. To date, its parent company Lianlian DigiTech has served more than 13.3 million clients. Its services reach more than 200 countries and regions, support transactions and settlement in more than 140 currencies, and connect with more than 180 global e-commerce platforms.

The partnership combines LianLian Global’s cross-border collection, FX and compliance infrastructure with PayPal’s global wallet network. Key offerings include:

Pay to PayPal: Payouts from LianLian Global clients to PayPal account holders in 96 markets, using only the recipient’s email or phone numberPay to Venmo: Domestic U.S. payouts to Venmo users, including creators, influencers and independent contractorsPayPal Payouts for Platforms: Mass disbursements for social commerce, marketplaces and affiliate platforms paying large numbers of sellers, creators and contractorsSpeed to settle: Save time and money by eliminating check runs and postage; no need for routing numbers and bank accounts.

Sandra Lam, Deputy CEO of US at LianLian Global: “Social commerce is creating a new economy, where creators, influencers and independent sellers drive discovery and sales alongside the platforms they sell on. Paying these participants fast, across borders and in small amount is what powers the network effect of social commerce. We see our work with Paypal as a key step in building the payout rails for the global gig economy.”

The collaboration expands LianLian Global’s payout coverage and supports its growth in the U.S. and global markets as cross-border platforms scale their creator and contractor programs.

View original content:https://www.prnewswire.com/news-releases/lianlian-global-and-paypal-power-cross-border-payouts-for-social-commerce-marketplace-and-ecommerce-customers-302917635.html

SOURCE LianLian Global

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Crab2B Debuts as Hong Kong’s First Dedicated B2B Platform for Mobile Electronics

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October 23, 2026

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HONG KONG, Oct. 23, 2026 /PRNewswire/ — With the global population surpassing 8 billion, mobile electronics have become essential to modern life, with smartphones now used by billions of people. Across approximately 13,861 cities worldwide, electronics wholesalers play a vital role in the supply chain. Among the world’s three major wholesale hubs for digital electronics, Dubai serves the Middle East and Africa, Miami connects markets across Latin America, and Hong Kong draws strength from its unique position linking mainland China with global markets. According to Hong Kong Customs data, re-exports of used mobile phones from Hong Kong reached 51.5 million units in 2025, while the total value of electronics exports hit HK$3.9216 trillion. Yet despite its value running into the trillions of Hong Kong dollars, it has long lacked a dedicated online platform.

Crab2B was created to fill this gap as Hong Kong’s first B2B platform dedicated to mobile electronics. Inspired by Alibaba’s online B2B marketplace model, the platform focuses on consumer electronics, bringing together hundreds of thousands of buyers and sellers worldwide and enabling them to connect directly.

Crab2B covers a broad range of products, including smartphones, tablets, laptops and other smart devices. Listings span brand-new and used devices, as well as certified pre-owned (CPO) and as-is products. The platform also connects buyers and suppliers with service providers offering product inspection, international logistics and repair services. Users can search for products by brand and model, while all merchants undergo rigorous verification before joining the platform. With these safeguards in place, Crab2B is designed to meet the needs of businesses across the value chain, protect the interests of both buyers and sellers, and facilitate mutually beneficial transactions.

Building on Hong Kong’s established trading network, Crab2B made its debut at the HKICEC Global Mobile Exchange Pavilion during the Global Sources Hong Kong Shows, held at AsiaWorld-Expo from October 18 to 21, 2026, where it also launched the Crab2B app. Looking ahead, Crab2B will remain firmly rooted in Hong Kong while expanding its global reach, continuing to refine the platform to deliver a smarter, more comprehensive digital marketplace for mobile electronics. By helping international buyers identify suitable suppliers, simplifying cross-border sourcing and reducing transaction costs, Crab2B aims to support the continued growth of Hong Kong’s digital trade sector and contribute to the city’s long-term prosperity and stability.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/crab2b-debuts-as-hong-kongs-first-dedicated-b2b-platform-for-mobile-electronics-302917652.html

SOURCE CRAB 2B TECHNOLOGY INVESTMENT CO., LIMITED

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AiMOGA Launches Global Robot Innovation: Mobo Debuts from Wuhu, Empowering Homes and Businesses

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58 minutes ago

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October 23, 2026

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KUALA LUMPUR, Malaysia, Oct. 23, 2026 /PRNewswire/ — AiMOGA Robotics has officially launched Mobo, its first consumer-grade humanoid family companion robot, marking a new chapter in intelligent living for Malaysian households and enterprises. Unveiled globally from AiMOGA’s headquarters in Wuhu, China, during a joint international users summit with its sister brands, this groundbreaking product reflects the company’s commitment to worldwide innovation and technological excellence.

Standing 0.9 meters tall with 22 degrees of freedom, Mobo supports over 20 languages—including Bahasa Malaysia—and delivers rich, personalized interactions. Designed for family life, it offers children interactive learning, storytelling, and object recognition, while providing elders with conversational companionship and customizable reminders. Powered by MoAgent, AiMOGA’s embodied intelligence system, Mobo features a dual-brain architecture enabling real-time responses, multi-tasking capabilities, and adaptive learning through facial recognition and secure MogaCloud integration.

Peng Xia, AiMOGA Robotics Executive Vice President, said Mobo’s spatial perception, interaction, execution, decision-making, and cognition layers form a perception-decision-execution-feedback loop. Spatial memory enables object retrieval, while social navigation recognizes pedestrian paths and interaction zones. Multimodal technologies coordinate language, facial expressions, and movement for natural interaction.

Beyond home use, Mobo shows strong potential in professional settings—from customer service to logistics—supporting AiMOGA’s vision of integrating robotics into everyday workflows.

Since its debut in August 2026, Mobo has attracted over 10,000 prospective users. Thirty-five were selected as Global User Experience Officers, receiving one year of complimentary use to help shape future improvements.

At the event, Guibin Zhang, AiMOGA Robotics General Manager, outlined strategies in R&D, cost optimization, sales and leasing. The “Platform Institute + Scenario Institute” model drives validation for bipedal, quadruped, and wheeled robots. Plans include 300 global experience centers and “Jia Tian Xia”, a robot leasing brand launching in Wuhu. Leveraging Chery’s manufacturing and platform resources enhances cost efficiency and scalability.

Notably, AiMOGA’s impact in Malaysia is amplified through strategic collaboration with sister brands Chery, OMODA & JAECOO, iCAUR, and LEPAS. Their partnership extends far beyond vehicle showrooms and daily operations—jointly developing integrated smart ecosystems that span mobility, retail, smart offices, and connected living.

As part of a global rollout with over 3,000 units deployed across 60+ markets, this initiative aims to bring intelligent, accessible robotics to more Malaysian families and businesses—enhancing productivity, convenience, and quality of life.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/aimoga-launches-global-robot-innovation-mobo-debuts-from-wuhu-empowering-homes-and-businesses-302917658.html

SOURCE AiMOGA Robotics

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