Global Artificial Intelligence (AI)-Powered Procurement Fraud Detection Market Reach $7.7 Billion at 28.9% CAGR by 2029

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The Business Research Company’s Artificial Intelligence (AI)-Powered Procurement Fraud Detection Global Market Report 2025 – Market Size, Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, October 24, 2025 /EINPresswire.com/ -- How Large Will The Artificial Intelligence (AI)-Powered Procurement Fraud Detection Market Be By 2025?
The market size for procurement fraud detection, facilitated by artificial intelligence (AI), has seen a sizable uptrend in recent years. It is projected to expand from $2.16 billion in 2024 to $2.79 billion in 2025, with a compound annual growth rate (CAGR) of 29.2%. The unprecedented growth during the historic period is attributable to an upsurge in online transactions, escalating cyber threats, a growing need for instantaneous fraud detection, a rise in digital payment usage, and increasing regulatory compliance obligations.

The market for AI-based procurement fraud detection is predicted to witness substantial expansion in the upcoming years, ballooning to $7.71 billion by 2029, with a CAGR of 28.9%. This projected growth during the forecast period is due to the escalating complexity of fraud tactics, a heightened demand for AI-oriented solutions, expanding usage across various industries, a surge in the quantity of digital transactions, and an increased emphasis on data security. Significant trends expected during this period encompass progress in machine learning, the amalgamation of AI with pre-existing systems, technological improvements facilitating real-time monitoring, strides in predictive analytics, and breakthroughs in data analytics and automation.

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What Are The Major Driving Forces Influencing The Artificial Intelligence (AI)-Powered Procurement Fraud Detection Market Landscape?
The increasing adoption of cloud-based services is predicted to catalyze the expansion of the artificial intelligence (AI)-powered procurement fraud detection market. These cloud-based services are hosted on remote servers and can be accessed via the internet, permitting users to utilize computing resources, storage, and software without having them installed on local systems. Their ascendance is due to scalability, which enables businesses to swiftly adjust their computing resources according to demand, recognizing savings and enhancing performance. As more transactions move to the cloud, the volume and intricacy of procurement transactions also increase in step, necessitating AI-powered fraud detection methods to adeptly process huge data quantities and accurately identify fraudulent practices that cannot be detected manually. For example, CloudKeeper, a cloud cost optimization firm based in the U.S., reported in December 2024 that spending on cloud services by end-users is predicted to hit the $723.4 billion mark in 2025, up from $595.7 billion in 2024. This represents a year-on-year rise of 21.5%. Consequently, the surge in the adoption of cloud-based solutions is fueling the expansion of the artificial intelligence (AI)-powered procurement fraud detection market.

Who Are The Top Players In The Artificial Intelligence (AI)-Powered Procurement Fraud Detection Market?
Major players in the Artificial Intelligence (AI)-Powered Procurement Fraud Detection Global Market Report 2025 include:
• Workiva Inc.
• ZYCUS INFOTECH PRIVATE LIMITED
• Onfido Ltd.
• Feedzai Inc.
• Rapidops Solutions Private Limited
• AppZen Inc.
• Napier AI
• Goodworklabs Services Private Limited
• Trustpair
• Xelix

What Are The Key Trends Shaping The Artificial Intelligence (AI)-Powered Procurement Fraud Detection Industry?
Leading firms in the AI-driven procurement fraud detection market are concentrating on creating innovative solutions like no-code AI agent builders which provide increased automation, improved risk control and better operational transparency. No-code AI agent builders are visual platforms that allow users to design, tailor, and deploy intelligent agents without the necessity of traditional coding. To illustrate, ORO Labs, a company based in the US, rolled out agentic AI capabilities in June 2025. These allow procurement groups to manage autonomous workflows, enhance fraud and risk identification, and better compliance control throughout the source-to-pay cycle. This solution merges autonomous AI agents with secure enterprise data connectivity and advanced compliance scrutiny to disclose intricate fraud patterns, elevate detection precision and encourage more data-focused procurement strategies. These agentic AI capabilities, by utilizing autonomous workflows and secure data integration, offer procurement teams an exceptionally adaptable toolkit to manage intricate assignments such as risk triage and fraud detection more effectively and accurately.

Market Share And Forecast By Segment In The Global Artificial Intelligence (AI)-Powered Procurement Fraud Detection Market
The artificial intelligence (AI)-powered procurement fraud detection market covered in this report is segmented as
1) By Component: Software, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Invoice Fraud Detection, Vendor Fraud Detection, Payment Fraud Detection, Contract Fraud Detection, Other Applications
5) By End-User: Banking, Financial Services, And Insurance (BFSI), Healthcare, Retail And Electronic-Commerce, Manufacturing, Government, Other End-Users

Subsegments:
1) By Software: Fraud Analytics Platforms, Risk And Compliance Management Tools, Identity Verification Solutions, Invoice And Payment Fraud Detection Software, Supplier Risk Assessment Tools, Spend Analysis And Audit Solutions
2) By Services: Implementation And Integration Services, Consulting And Advisory Services, Managed Services, Training And Support Services, Risk Monitoring And Compliance Services

View the full artificial intelligence (ai)-powered procurement fraud detection market report:
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Artificial Intelligence (AI)-Powered Procurement Fraud Detection Market Regional Insights
In the AI-powered procurement fraud detection global market report for the year 2025, North America emerged as the dominant region in 2024. The report predicts Asia-Pacific to exhibit the most rapid growth during the forecast period. The report encompasses regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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