Report

Brazil procurement software market size reached around USD 272.25 Million in 2024. The market is projected to grow at a CAGR of 9.60% between 2025 and 2034 to reach nearly USD 680.88 Million by 2034.

Brazil Procurement Software Market Growth

Over the decade leading up to 2022, Brazil's economy witnesses an average retail sales growth of 0.6%. In 2022, the growth rate for retail sales increased to 1.0%, showcasing a robust retail sector in the region. Retailers leverage procurement software to optimise inventory management by automating the reordering process, tracking stock levels, and predicting demand through sales analytics, leading to the Brazil procurement software market development.

This software enables retailers to manage costs more effectively by providing tools for negotiating better terms with suppliers, automating purchase orders, and ensuring compliance with budget limits. Automating routine procurement tasks like processing purchase orders and invoices, reduces manual labour, speeds up the procurement cycle, and minimises the risk of errors.

A market research study commissioned by IBM has shown that the global adoption of Artificial Intelligence (AI) has been on a consistent rise, with 41% of businesses in Brazil reporting that they have actively integrated this AI into their operations, consequently driving up the Brazil procurement software market share. The growing trend of automation is notably enhancing the demand for software acquisition across multiple sectors. By minimising the need for manual involvement in procurement activities, automation facilitates quicker and more efficient operations. Companies are progressively acquiring software solutions to streamline tasks such as order processing, invoice reconciliation, and supplier interactions, thereby reducing human errors and accelerating workflow efficiency.

Key Trends and Developments

Increasing adoption of cloud-based procurement software, integration of artificial intelligence into the market, rising focus on sustainable procurement, and the development of mobile procurement software is aiding to the Brazil procurement software market expansion.

December 2023

The Brazilian government made the decision to organise a new, large-scale, centralised procurement process for ICT services and goods, encompassing cloud, software, and hardware for the year 2024.

March 2022

GEP, the global enterprise procurement software and services firm, announced that it has entered into an agreement to acquire COSTDRIVERS, the premier provider of supply market forecasting, pricing trend, and cost model analytics; and procurement intelligence and data science company Datamark Ltd. based in Sao Paulo, Brazil.

Rising Digital Transformation

With unprecedented speed, the companies of Brazil are embracing digitization so that they can promote efficiency, paperless as well as streamline procurement processes. Industry 4.0 and automation trends push companies to spend more on procurement software.

Rising Adoption of Cloud-Based Procurement Software

One of the notable Brazil procurement software market trends is the adoption of cloud-based procurement software. Organisations are increasingly adopting cloud-based procurement software to streamline the procurement process, eliminate inefficiencies, reduce operational expenses, eliminate manual intervention and data redundancy, and improve process efficiency.

Integration of Machine Learning and Artificial Intelligence in Procurement Processes

There is a rising integration of artificial intelligence and machine learning in procurement software to enable the analysis of vast datasets, predict market trends, identify patterns, and optimise supplier selection. Such software can also automate routine tasks like contract management, invoice processing, and spend analysis.

Growing Focus on Ethical and Sustainable Procurement

With the rising trend of sustainability, key players are offering procurement software that provides tools to enable organisations to evaluate their social, ethical, environmental, and economic impacts, leading to the Brazil procurement software market growth.

Increasing Integration of Blockchain in Procurement Software

Blockchain is increasingly integrated into procurement software to improve efficiency, enhance transparency, and automate and streamline processes like invoicing, contract management, and payments.

The Development of Mobile Procurement Software

Key players are developing procurement software that is compatible with mobile phones and offers users the flexibility to manage the procurement process on the go, hence enhancing their productivity.

Brazil Procurement Software Market Trends

There is a rising adoption of cloud-based procurement software among organisations as it is cost-effective, scalable, and easy to use. It also streamlines processes, enables real-time collaboration and communication between procurement teams, stakeholders, clients, and suppliers, and increases spending visibility and transparency.

As per the Brazil procurement software market analysis, rapid advancements in technologies such as artificial intelligence, machine learning, and data analytics are aimed at automating repetitive tasks like invoice processing, purchase order creation, and payment reconciliation.

Brazil Procurement Software Industry Segmentation

The EMR's report titled "Brazil Procurement Software Market Report and Forecast 2025-2034" offers a detailed analysis of the market based on the following segments:

Market Breakup by Deployment:

- On-Premise
- Cloud

Market Breakup by End Use:

- Retail
- Manufacturing
- Transportation and Logistics
- Healthcare
- Food and Beverages
- Others

Market Breakup by Region:

- Sao Paulo
- Minas Gerais
- Rio de Janeiro
- Bahia
- Rio Grande do Sul
- Others

Brazil Procurement Software Market Share

Based on the end use, the market is segmented into retail, manufacturing, transportation and logistics, healthcare, and food and beverages, among others. The healthcare segment is projected to grow at a CAGR of 10.7% during the forecast period of 2025-2034. Procurement software is essential in the healthcare sector as it facilitates the efficient acquisition of goods and services, guarantees adherence to regulations, and enhances cost management.

Leading Companies in the Brazil Procurement Software Market

Major players are focusing on the adoption of automation technologies to gain a competitive edge in the Brazil procurement software market share.

Nimbi S/A

Nimbi S/A was established in 2013 and is headquartered in Sao Paulo, Brazil. With the use of cloud-based technologies, it offers supply chain management and procurement solutions that assist companies in streamlining procedures and increasing operational effectiveness.

Makersite

With its base of operations in Munich, Germany, Makersite was established in 2018 and provides manufacturers with lifecycle management and digital twin technologies, allowing them to maximise product sustainability, prices, and compliance.

Jaggaer

Jaggaer, which was founded in 1995 and has its headquarters in North Carolina, United States, offers procurement software solutions to worldwide businesses to various sectors for spend control, supplier collaboration, and supply chain optimisation, thereby leading to the the Brazil procurement software market expansion.

SAP SE

SAP SE was established in Weinheim, Germany, in 1972. Its current headquarters are in Walldorf, Germany. It provides on-premises and cloud-based enterprise software for managing business operations, catering to a variety of sectors.

Other key players in the Brazil procurement software market are Coupa Software Inc., among others.