The market report is a historical overview and in-depth study on the current and future market. The report also offers a basic overview of the market size, share, leading players, top regions with major countries data, and a detailed segmentation description. It investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
The major players in the Procurement as a Service Market include:
• Accenture Plc
• Infosys Ltd.
• IBM Corporation
• GEP
• Genpact
• Capgemini SE
• HCL Technologies
• Proxima Group
• Wipro Ltd.
• WNS Global
Key Drivers of the Procurement as a Service Market:
The primary factor driving the growth of the procurement as a service market is the emerging demand among companies to streamline the procurement processes and decrease operating costs related to procurement operations. Moreover, growing penetration of advanced technologies such as Machine Learning (ML) and Artificial Intelligence (AI), along with analytics solutions in the procurement process and rising digitization, are some of the factors boosting the growth of the procurement as a service market size in the upcoming years. On the other hand, the increasing concern of data security and privacy among companies and the high risk of outsourcing are hampering the procurement as a service market growth.
Based on the region, North America is projected to dominate the market. This is mainly due to the increasing number of new technologies, large customer base, and center of technological advancement in this region. Additionally, the United States expects the largest market size due to the presence of key players in this region and raising awareness among users. The Asia Pacific is anticipated to grow at a higher rate in the upcoming years due to increasing penetration of technology, growing investment to expand and adopt technology which improves efficiency and performance of the overall procurement process. Furthermore, countries like India, Australia, New China, Zealand, and Japan are undisputed leaders in the procurement as a service market.
Segmentation of the Procurement as a Service Market:
The major regions covered in the report are North America, Europe, Asia-Pacific, and the Rest of the world. It also contains regional volume and revenue of the forecast period. Moreover, it helps the reader to understand accurate data on volume sales according to the consumption for the same years.
On the basis of component, this report displays the production, revenue, price, market share, and overall growth rate of each component, primarily split into:
• Strategic Sourcing
• Spend Management
• Category Management
• Process Management
• Contact Management
• Transaction Management
On the basis of organisation size, this report displays the production, revenue, price, market share, and overall growth rate of each organisation size, primarily split into:
• Small and Medium- sized Enterprises
• Large Enterprises
On the basis of vertical, this report displays the production, revenue, price, market share, and overall growth rate of each vertical, primarily split into:
• BFSI
• IT and Telecommunication
• Manufacturing
• Energy and Utilities
• Travel and Hospitality
• Retail
• Healthcare
• Others
On the basis of region, this report displays the production, revenue, price, market share, and overall growth rate of each region, primarily split into:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research:
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