PUBLISHER: Acute Market Reports | PRODUCT CODE: 1132378
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1132378
Procurement Outsourcing Services Market - Growth, Future Prospects and Competitive Analysis, 2022 - 2030
Increasing adoption of IT to Boost the Procurement outsourcing services Market
The procurement outsourcing services market worldwide is expected to grow with a CAGR of 15% during the forecast period from 2022 to 2030. Procurement outsourcing services refers to a process in which a company appoints an external service provider to manage the primary and secondary or other transactions of the company. Therefore, it helps the company to reduce its operational costs, increase savings and thereby improve business. The growth of the procurement outsourcing services market is driven by the demand for the same in manufacturing, BFSI, retail, healthcare, IT & telecom and various other segments. Due to all these factors, we are expecting rapid growth in the procurement outsourcing services market during the forecast period.
Manufacturing to Continue Dominating the Market
The manufacturing sector is a prominent user of procurement outsourcing services all around the globe. Owing to increased adoption of IT solutions, changes in modern consumer trends and emphasis on business process automation shall increase the demand for procurement outsourcing services market. Backed by low capital expenditure and reduced operational costs, manufacturing segment shall be the fastest growing segment in the procurement outsourcing services. On the other hand, BFSI sector shall be the second segment after manufacturing to grow significantly. Thus, electronic circuits segment would continue leading the market throughout the forecast period.
Asia Pacific to Register the Fastest Growth
Procurement outsourcing services market is led by North America. The US and Canada led the procurement services market in the region. Asia Pacific is set to expand at the highest rate in the market in years to come. The region has been witnessing industrial sector growth along with new technological advancements, which further supports the demand for procurement outsourcing services. Growth in the economies of China, India and other south Asian countries shall be further drive the Procurement outsourcing services market. Considering these factors, Asia Pacific is projected to grow with the highest CAGR throughout the forecast period.
Some of the prominent players operating in the procurement outsourcing services market include Accenture PLC, Genpact Ltd., GEP, HCL Technologies, IBM Corporation, Infosys Ltd., WNS Aquanima, Optimum Procurement, Corbus LLC among others.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Procurement Outsourcing Services market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report
Micro and macro environment factors that are currently influencing the Procurement Outsourcing Services market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE DETAILS
Research Period 2020-2030
Base Year 2021
Forecast Period 2022-2030
Historical Year 2020
Unit USD Million
Segmentation
Product
Business Process Outsourcing
Consulting
End-User
Manufacturing
BFSI
Rretail
IT & Telecom
Region Segment (2020-2030; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Million )
Pre COVID-19 situation
Post COVID-19 situation
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Procurement Outsourcing Services market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Procurement Outsourcing Services market?
Which is the largest regional market for Procurement Outsourcing Services market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Procurement Outsourcing Services market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Procurement Outsourcing Services market worldwide?
Table of Contents
1. Preface
- 1.1. Report Description
- 1.1.1. Purpose of the Report
- 1.1.2. Target Audience
- 1.1.3. Key Offerings
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.3.1. Phase I - Secondary Research
- 1.3.2. Phase II - Primary Research
- 1.3.3. Phase III - Expert Panel Review
- 1.3.4. Assumptions
- 1.3.5. Approach Adopted
2. Executive Summary
- 2.1. Market Snapshot: Global Procurement Outsourcing Services Market
- 2.2. Global Procurement Outsourcing Services Market, By Product, 2021 (US$ Million)
- 2.3. Global Procurement Outsourcing Services Market, By End-User, 2021 (US$ Million)
- 2.4. Global Procurement Outsourcing Services Market, By Geography, 2021 (US$ Million)
- 2.5. Impact of Covid 19
- 2.6. Attractive Investment Proposition by Geography, 2021
- 2.7. Competitive Analysis
- 2.7.1. Market Positioning of Key Procurement Outsourcing Services Market Vendors
- 2.7.2. Strategies Adopted by Procurement Outsourcing Services Market Vendors
- 2.7.3. Key Industry Strategies
3. Procurement Outsourcing Services Market: Business Outlook & Market Dynamics
- 3.1. Introduction
- 3.2. Global Procurement Outsourcing Services Market Value, 2020 - 2030, (US$ Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers
- 3.3.2. Market Restraints
- 3.3.3. Key Challenges
- 3.3.4. Key Opportunities
- 3.4. Impact Analysis of Drivers and Restraints
- 3.5. See-Saw Analysis
- 3.6. Porter's Five Force Model
- 3.6.1. Supplier Power
- 3.6.2. Buyer Power
- 3.6.3. Threat Of Substitutes
- 3.6.4. Threat Of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTEL Analysis
- 3.7.1. Political Landscape
- 3.7.2. Economic Landscape
- 3.7.3. Technology Landscape
- 3.7.4. Legal Landscape
- 3.7.5. Social Landscape
4. Procurement Outsourcing Services Market: By Product, 2020-2030, USD (Million)
- 4.1. Market Overview
- 4.2. Growth & Revenue Analysis: 2021 Versus 2030
- 4.3. Market Segmentation
- 4.3.1. Business Process Outsourcing
- 4.3.2. Consulting
5. Procurement Outsourcing Services Market: By End-User, 2020-2030, USD (Million)
- 5.1. Market Overview
- 5.2. Growth & Revenue Analysis: 2021 Versus 2030
- 5.3. Market Segmentation
- 5.3.1. Manufacturing
- 5.3.2. BFSI
- 5.3.3. Rretail
- 5.3.4. IT & Telecom
6. North America Procurement Outsourcing Services Market, 2020-2030, USD (Million)
- 6.1. Market Overview
- 6.2. Procurement Outsourcing Services Market: By Product, 2020-2030, USD (Million)
- 6.3. Procurement Outsourcing Services Market: By End-User, 2020-2030, USD (Million)
- 6.4.Procurement Outsourcing Services Market: By Region, 2020-2030, USD (Million)
- 6.4.1.North America
- 6.4.1.1. U.S.
- 6.4.1.2. Canada
- 6.4.1.3. Rest of North America
- 6.4.1.North America
7. UK and European Union Procurement Outsourcing Services Market, 2020-2030, USD (Million)
- 7.1. Market Overview
- 7.2. Procurement Outsourcing Services Market: By Product, 2020-2030, USD (Million)
- 7.3. Procurement Outsourcing Services Market: By End-User, 2020-2030, USD (Million)
- 7.4.Procurement Outsourcing Services Market: By Region, 2020-2030, USD (Million)
- 7.4.1.UK and European Union
- 7.4.1.1. UK
- 7.4.1.2. Germany
- 7.4.1.3. Spain
- 7.4.1.4. Italy
- 7.4.1.5. France
- 7.4.1.6. Rest of Europe
- 7.4.1.UK and European Union
8. Asia Pacific Procurement Outsourcing Services Market, 2020-2030, USD (Million)
- 8.1. Market Overview
- 8.2. Procurement Outsourcing Services Market: By Product, 2020-2030, USD (Million)
- 8.3. Procurement Outsourcing Services Market: By End-User, 2020-2030, USD (Million)
- 8.4.Procurement Outsourcing Services Market: By Region, 2020-2030, USD (Million)
- 8.4.1.Asia Pacific
- 8.4.1.1. China
- 8.4.1.2. Japan
- 8.4.1.3. India
- 8.4.1.4. Australia
- 8.4.1.5. South Korea
- 8.4.1.6. Rest of Asia Pacific
- 8.4.1.Asia Pacific
9. Latin America Procurement Outsourcing Services Market, 2020-2030, USD (Million)
- 9.1. Market Overview
- 9.2. Procurement Outsourcing Services Market: By Product, 2020-2030, USD (Million)
- 9.3. Procurement Outsourcing Services Market: By End-User, 2020-2030, USD (Million)
- 9.4.Procurement Outsourcing Services Market: By Region, 2020-2030, USD (Million)
- 9.4.1.Latin America
- 9.4.1.1. Brazil
- 9.4.1.2. Mexico
- 9.4.1.3. Rest of Latin America
- 9.4.1.Latin America
10. Middle East and Africa Procurement Outsourcing Services Market, 2020-2030, USD (Million)
- 10.1. Market Overview
- 10.2. Procurement Outsourcing Services Market: By Product, 2020-2030, USD (Million)
- 10.3. Procurement Outsourcing Services Market: By End-User, 2020-2030, USD (Million)
- 10.4.Procurement Outsourcing Services Market: By Region, 2020-2030, USD (Million)
- 10.4.1.Middle East and Africa
- 10.4.1.1. GCC
- 10.4.1.2. Africa
- 10.4.1.3. Rest of Middle East and Africa
- 10.4.1.Middle East and Africa
11. Company Profile
- 11.1. Accenture LLC
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Portfolio
- 11.1.4. Strategic Initiatives
- 11.2. Genpact Ltd.
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Portfolio
- 11.2.4. Strategic Initiatives
- 11.3. GEP
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Portfolio
- 11.3.4. Strategic Initiatives
- 11.4. HCL Technologies
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Portfolio
- 11.4.4. Strategic Initiatives
- 11.5. IBM Corporation
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Portfolio
- 11.5.4. Strategic Initiatives
- 11.6. Infosys Ltd.
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Portfolio
- 11.6.4. Strategic Initiatives
- 11.7. WNS Aquanima
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Portfolio
- 11.7.4. Strategic Initiatives
- 11.8. Optimum Procurement
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Portfolio
- 11.8.4. Strategic Initiatives
- 11.9. Corbus LLC
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Portfolio
- 11.9.4. Strategic Initiatives
List of Tables
- TABLE 1 Global Procurement Outsourcing Services Market By Product, 2020-2030, USD (Million)
- TABLE 2 Global Procurement Outsourcing Services Market By End-User, 2020-2030, USD (Million)
- TABLE 3 North America Procurement Outsourcing Services Market By Product, 2020-2030, USD (Million)
- TABLE 4 North America Procurement Outsourcing Services Market By End-User, 2020-2030, USD (Million)
- TABLE 5 UK and European Union Procurement Outsourcing Services Market By Product, 2020-2030, USD (Million)
- TABLE 6 UK and European Union Procurement Outsourcing Services Market By End-User, 2020-2030, USD (Million)
- TABLE 7 Asia Pacific Procurement Outsourcing Services Market By Product, 2020-2030, USD (Million)
- TABLE 8 Asia Pacific Procurement Outsourcing Services Market By End-User, 2020-2030, USD (Million)
- TABLE 9 Latin America Procurement Outsourcing Services Market By Product, 2020-2030, USD (Million)
- TABLE 10 Latin America Procurement Outsourcing Services Market By End-User, 2020-2030, USD (Million)
- TABLE 11 Middle East and Africa Procurement Outsourcing Services Market By Product, 2020-2030, USD (Million)
- TABLE 12 Middle East and Africa Procurement Outsourcing Services Market By End-User, 2020-2030, USD (Million)
List of Figures
- FIG. 1 Global Procurement Outsourcing Services Market: Market Coverage
- FIG. 2 Research Methodology and Data Sources
- FIG. 3 Market Size Estimation - Top Down & Bottom-Up Approach
- FIG. 4 Global Procurement Outsourcing Services Market: Quality Assurance
- FIG. 5 Global Procurement Outsourcing Services Market, By Product, 2021
- FIG. 6 Global Procurement Outsourcing Services Market, By End-User, 2021
- FIG. 7 Global Procurement Outsourcing Services Market, By Geography, 2021
- FIG. 8 Global Procurement Outsourcing Services Market, By Product, 2021 Vs 2030, %
- FIG. 9 Global Procurement Outsourcing Services Market, By End-User, 2021 Vs 2030, %
- FIG. 10 U.S. Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 11 Canada Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 12 Rest of North America Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 13 UK Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 14 Germany Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 15 Spain Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 16 Italy Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 17 France Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 18 Rest of Europe Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 19 China Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 20 Japan Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 21 India Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 22 Australia Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 23 South Korea Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 24 Rest of Asia Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 25 Brazil Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 26 Mexico Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 27 Rest of Latin America Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 28 GCC Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 29 Africa Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
- FIG. 30 Rest of Middle East and Africa Procurement Outsourcing Services Market (US$ Million), 2020 - 2030
