Procurement as-a-Service Market Global Trends with Industry Growth to 2027 – GEP, Accenture, Capgemini, Corbus, Genpact, HCL, IBM, Infosys, Wipro, WNS
Procurement as-a-Service Industry Premium Report have an extensive study based on Major Players, Size, Share, Growth Rate, Future Trends, Market Drivers, Opportunities and Challenges, Competitive Landscape which will provide a comprehensive view of Procurement as-a-Service Market.
Procurement as-a-service is an outsourced procurement business model that combines staff, technology, and expertise to manage a portion or complete user organization procurement functions. Technology supports the service providers to examine what their customers are spending money on, and where they are likely to find potential savings. Procurement as-a-service offerings support the endusers to select the categories for sourcing and allocate category experts to manage purchasing for those categories.
The Procurement as-a-Service Market was valued at US$ 3,137.7 million in 2019 and is projected to reach US$ 4,741.1 million by 2027; it is expected to grow at a CAGR of 6.4%from 2020 to 2027.
Growing procurement complexities coupled with increased regulations and resource constraints are anticipated to boost the demands for a flexible and cost-effective Procurement as-a-Service model for business thereby driving the Procurement as-a-Service market globally. Lack of awareness about the model is one of the major restraining factors in the Procurement as-a-Service market. Growing utilization of Procurement as-a-Service model by emerging applications such as consumer goods and retail is anticipated to further provide good opportunities to the players operating in the Procurement as-a-Service market.
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The reports cover key developments in the Procurement as-a-Service market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Procurement as-a-Service market are anticipated to lucrative growth opportunities in the future with the rising demand for Procurement as-a-Service market in the global market.
Key Players Influencing the Market
- Corbus, LLC
- HCL Technologies
- IBM Corporation
- Infosys Limited
- Wipro Limited
- WNS (Holdings) Ltd.
The “Global Procurement as-a-Service Market Analysis to 2027” is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of Procurement as-a-Service market with detailed market segmentation by component, deployment type, industry vertical, and geography. The global Procurement as-a-Service market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Procurement as-a-Service market players and offers key trends and opportunities in the market.
The global Procurement as-a-Service market is segmented on the basis of component, enterprise size, and end-user industry. On the basis of component, the Procurement as-a-Service market is segmented into strategic sourcing, spend management, category management, process management, contract management, and transaction management. The Procurement as-a-Service market on the basis of the enterprise size is classified into SMEs and large enterprises. Based on end-user industry, the Procurement as-a-Service market is segmented into IT and Telecom, consumer goods and retail, manufacturing, energy and utility, healthcare, hospitality and tourism, and others.
Besides this, the report analyzes factors affecting Procurement as-a-Service market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions considered in the Global Procurement as-a-Service Market report.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Procurement as-a-Service market based on the type and application. It also provides market size and forecast till 2027 for overall Procurement as-a-Service market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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Answers that the report acknowledges:
- Market size and growth rate during forecast period.
- Key factors driving the Procurement as-a-Service Market.
- Key market trends cracking up the growth of the Procurement as-a-Service Market.
- Challenges to market growth.
- Key vendors of Procurement as-a-Service Market.
- Detailed SWOT analysis.
- Opportunities and threats faces by the existing vendors in Global Procurement as-a-Service Market.
- Trending factors influencing the market in the geographical regions.
- Strategic initiatives focusing the leading vendors.
- PEST analysis of the market in the five major regions.
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