Procurement as a Service Market – Opportunities and Forecast, 2020-2027

 The market report added by GMI Research gives meticulous investigation of the current scenarios in the market, including market size, share, trends, overall demand, growth, leading players, and forecasts for the coming years.

Market Segmentation of the Procurement as a Service Market:

The procurement as a service market is spilt by Component, Organization Size, Vertical, and Region. The given analysis will help you to expand your business by targeting niche markets. For the forecast period, the growth among segments offers accurate calculations and forecasts for sales in terms of volume and valve.

By Component:

·         Strategic Sourcing

·         Spend Management

·         Category Management

·         Process Management

·         Contact Management

·         Transaction Management

By Organization Size:

·         Small and Medium- sized Enterprises

·         Large Enterprises

By Vertical:

·         BFSI

·         IT and Telecommunication

·         Manufacturing

·         Energy and Utilities

·         Travel and Hospitality

·         Retail

·         Healthcare

·         Others

By Region:

·         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)

Key Drivers of the Procurement as a Service Market:

Procurement as a Service is a combination of technology, staff, and expertise which handles a portion of organization functions. It also streamlined the process through cloud-based technology and processes services to decrease the complexity of the procedure. Procurement as a service helps in improving the performance and adds value to the business. It helps the organization to decrease operational cost, enhance performance, and grows saving on investment by managing the organizations’ core and non-core transaction and expenditure purchases.

The significant factor contributing to the growth of procurement as a service market includes the rising demand among companies to streamline the Procurement Processes and to decrease operating costs related to procurement operations. Furthermore, the growing penetration of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML), along with analytics solutions in the Procurement Process and rising digitization, will surge the growth of the procurement as a service market size in the upcoming years. On the other hand, the rising concern of data security and privacy among companies, followed by the increased risk involved in outsourcing will hinder the procurement as a service market growth.

Company coverage of the Procurement as a Service Market:

·         Accenture Plc

·         Infosys Ltd.

·         IBM Corporation

·         GEP

·         Genpact

·         Capgemini SE

·         HCL Technologies

·         Proxima Group

·         Wipro Ltd.

·         WNS Global

About GMI Research:

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