AI in procurement market seen reaching $7.86 billion by 2030

The Business Research Company says the artificial intelligence in procurement market is expanding quickly, with growth driven by cloud adoption, supply chain digitization and demand for better supplier intelligence. The market is forecast to rise from $2.86 billion in 2025 to $7.86 billion by 2030, with North America leading and Asia-Pacific growing fastest.

Why it matters: - AI is changing procurement from a manual back-office function into a data-driven process for sourcing, supplier management and risk control. - The market’s projected climb to $7.86 billion by 2030 signals continued spending on tools that can improve efficiency, transparency and decision-making. - Companies are using AI to reduce procurement fraud, leakage and disruption risks as supply chains become more complex.

What happened: - The Business Research Company published its Artificial Intelligence in Procurement Market Report 2026, covering market size, trends and global forecasts for 2026-2035. - The report says the market will grow from $2.86 billion in 2025 to $3.5 billion in 2026. - The same report forecasts the market will reach $7.86 billion by 2030. - The report was issued Sept. 3, 2026, from London. - More information is available in the company’s sample report and the full report.

The details: - The report puts the market’s 2025-2026 compound annual growth rate at 22.2%. - The forecast period CAGR through 2030 is 22.4%. - The report links historical growth to manual procurement work, fragmented supplier databases, limited transparency, procurement fraud and leakage risks, globalization and outsourcing. - Future growth is tied to predictive procurement decision-making tools, real-time supplier intelligence networks, digitized compliance and audits, resilient and localized supply chains, and data-driven strategic sourcing ecosystems. - The report highlights emerging use cases such as predictive supplier risk scoring, spend classification, cost optimization, AI-powered contract lifecycle management, real-time supplier performance dashboards and category-level procurement automation. - AI in procurement uses software to automate, analyze and optimize sourcing, purchasing and supplier management. - The report says AI systems can improve decision-making accuracy, raise operational efficiency and lower procurement costs. - Cloud-based solutions are a major growth driver because they provide centralized, real-time data and internet-accessible collaboration tools. - The report cites a March 2025 UK Office for National Statistics finding that 9% of UK businesses used AI in 2023, while 69% used cloud computing systems. - North America held the largest share of the global market in 2025. - Asia-Pacific is expected to be the fastest-growing region over the forecast period. - The report also covers South East Asia, Western Europe, Eastern Europe, South America, the Middle East and Africa. - The 2026 report edition adds market attractiveness scoring, TAM analysis, company scoring matrix graphics and tables, Excel-based dashboards, market hotspots infographics, and key technology and future trend analysis.

Between the lines: - The market outlook suggests procurement teams are moving toward systems that combine automation with live supplier data rather than relying on point-in-time sourcing reviews. - Cloud adoption appears to be the practical enabler, since AI procurement tools need shared data access across distributed teams. - The regional split points to maturity in North America and faster catch-up growth in Asia-Pacific, where manufacturing expansion and digital transformation are accelerating demand.

What's next: - Procurement software vendors are likely to compete more on predictive analytics, supplier risk visibility and contract automation. - Buyers can expect more emphasis on compliance monitoring, localized supply resilience and spend optimization as organizations expand AI use. - The report signals continued product development around dashboards, scoring tools and category-specific automation.

The bottom line: - AI in procurement is moving from an efficiency add-on to a core operating layer, and the market data points to sustained double-digit growth through 2030.