Procurement as a Services Market Begins to Take Bite out of Versioned Long Term Growth
May 23, 2023 at 11:44 AM EDT
NJ New Jersey, USA -- (SBWIRE) -- 05/23/2023 -- Advance Market Analytics added research publication document on Worldwide Procurement as a Services Market breaking major business segments and highlighting wider level geographies to get deep dive analysis on market data. The study is a perfect balance bridging both qualitative and quantitative information of Worldwide Procurement as a Services market. The study provides valuable market size data for historical (Volume** & Value) from 2018 to 2022 which is estimated and forecasted till 2028*. Some are the key & emerging players that are part of coverage and have being profiled are IBM (United States), Accenture (Ireland), GEP (United States), Capgemini (France), Genpact (United States), Wipro (India), Pcura (India), Corbus (United States), WNS (India), Infosys (India).
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Procurement as a service is a procurement model which outsources procurement that combines technology, staff, and expertise to handle a portion of the procurement function. Technology helps determine what the organization is spending on and where it's likely to find savings. Service procurement companies are those that deliver people-based services to an organization. A procurement service provider can provide a rapid analysis of an organization's spend and implement changes, negotiate with suppliers, and use proven industry best practices. The Global Procurement as a Services Market size was valued at $6.11 billion in 2021, and is projected to reach $19.95 billion by 2031, growing at a CAGR of 12.44% from 2022 to 2031.
Key Market Developments:
Although the industry can be said to have a market leader like IBM and Accenture, Wipro; the industry is not captured by them. It has small players as well as medium and big players. The industry does not have any major barrier to entry. Reputation and good past work are the keys to attract new first-time customers in this industry.
Influencing Market Trend
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Analysis by Type (Direct Procurement as a Services, Indirect Procurement as a Services, Services Procurement as a Services), Services (Source to Pay, Source to Contract, Procure to Pay, Rapid Sourcing, Others), End Use Industry (IT and Telecommunication, FMCG Companies, Manufacturing, Energy and Utilities, Healthcare, Others)
Competitive landscape highlighting important parameters that players are gaining along with the Market Development/evolution
- % Market Share, Segment Revenue, Swot Analysis for each profiled company [IBM (United States), Accenture (Ireland), GEP (United States), Capgemini (France), Genpact (United States), Wipro (India), Pcura (India), Corbus (United States), WNS (India), Infosys (India)]
The regional analysis of Global Procurement as a Services Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world. Whereas, owing to rising no. of research activities in countries such as China, India, and Japan, Asia Pacific region is also expected to exhibit higher growth rate the forecast period 2023-2028.
Table of Content
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Highlights of the Report
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