PUBLISHER: Allied Market Research | PRODUCT CODE: 1193057
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193057
Procurement as a service (PaaS) offers advanced tools for inventory and procurement management to business enterprises. Furthermore, procurement as a service (PaaS) can provide a systematic strategy for optimizing the output of a company's supply chain network in order to achieve peak performance.
The growth in market competition and the demand for work from home & remote working policies during the period of the COVID-19 pandemic aided in propelling the growth of the global remote and automated solutions such as procurement solutions and services during the period, hence empowering the demand for procurement as a service industry. Moreover, the sudden economic imbalance and supply chain challenges during the period positively impacted the need for procurement as a service industry. However, data privacy and sharing risks associated with third-party procurement as service vendors can hamper the procurement as a service market forecast. On the contrary, the integration of advanced tools such as machine learning and data analytics with procurement management suite is expected to offer remunerative opportunities for expansion of the procurement as a service market during the forecast period.
The procurement as a service (PaaS) market is segmented on the basis of component, organization size, industry vertical, and region. On the basis of component, the industry is divided into strategic sourcing, spend management, process management, category management, contract management, and transaction management. Based on organization size, the market is bifurcated into large enterprises and small and medium enterprises. The industry vertical covered in the study include BFSI, manufacturing, retail, IT and telecom, healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the procurement as a service (PaaS) market analysis are Accenture, Plc, Aegis One Consults Ltd, CA Technologies, Capgemini, Corbus India LLP, F-code, Genpact, HCL Technologies Limited, IBM Corporation, Infosys Limited, Proxima Group, TATA Consultancy Services, Wipro, WNS Global, X Changing Solutions, GEP, Simfoni Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
By Component
By Organization Size
By Industry Vertical
By Region