PUBLISHER: SkyQuest | PRODUCT CODE: 1244284
PUBLISHER: SkyQuest | PRODUCT CODE: 1244284
Global Procurement As A Service Market Size, Share, Growth Analysis, By Component(Category Management, Strategic Sourcing), By Vertical(BFSI, Manufacturing) - Industry Forecast 2022-2028
Global procurement as a service market was valued at USD 2.70 billion in 2021 and is expected to reach a value of USD 6.88 billion by 2028, at a CAGR of 14.29% over the forecast period (2022-2028).
The global market for procurement as a service is predicted to undergo significant expansion as a result of the growing implementation of advanced digitalization and automation technologies in crucial business processes such as procurement and sourcing. The integration of technology into procurement functions is enhancing the efficiency of strategic sourcing and supplier management, resulting in cost savings and increased profitability for enterprises. Rather than solely negotiating contracts, global procurement service providers are now focused on forming exclusive business partnerships and strategic agreements to guarantee short- and long-term business continuity. For example, in 2020, Proactis partnered with Agilyx Group to provide a wide range of management solutions and services to Agilyx customers. The procurement industry's service providers are also being aided by cloud technology, which is lowering data storage costs and enabling them to improve business operations and develop customized solutions for end-users. Additionally, artificial intelligence (AI) is gaining traction in the procurement service industry, offering a unique selling proposition of data analytics while enhancing operations. As a result, the global procurement as a service market is well-positioned to benefit from the advancement of these technologies, facilitating proactive and efficient management of procurement functions to drive growth and profitability for businesses.
Segments covered in report
Global procurement as a service market is segmented on the basis of component and vertical. By component, the market is segmented into category management, strategic sourcing, contract management, spend management, and others. By vertical, the market is categorized into BFSI, manufacturing, retail, healthcare, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
Drivers
The projected period is expected to see a rise in the global procurement as a service market due to the growing number of small and medium-sized enterprises worldwide. Notably, the BFSI, education, energy and utilities, healthcare and life sciences, manufacturing, retail, e-commerce, and IT industries are playing a significant role in driving the demand and expansion of this market. This trend is forecasted to persist in the foreseeable future.
Restrains
The market's growth may be hindered within the predicted timeframe due to limited technical proficiency and inadequate understanding of procurement software. Furthermore, some industries remain unaware of this technology, which limits the potential for market expansion. It is crucial to address these issues to achieve sustained growth in the procurement software industry.
Trends
Due to the growing trends of urbanisation, globalisation, and modernisation, the world market is expanding. .Additionally, this expansion is being fueled by the use of analytical services and the integration of machine learning and artificial intelligence by small and medium-sized businesses, particularly in developing countries.
Table of Contents
Executive Summary
Market overview
- Exhibit: Executive Summary - Chart on Market Overview
- Exhibit: Executive Summary - Data Table on Market Overview
- Exhibit: Executive Summary - Chart on Global Global procurement as a service market Characteristics
- Exhibit: Executive Summary - Chart on Market by Geography
- Exhibit: Executive Summary - Chart on Market Segmentation
- Exhibit: Executive Summary - Chart on Incremental Growth
- Exhibit: Executive Summary - Data Table on Incremental Growth
- Exhibit: Executive Summary - Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy-scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Global procurement as a service market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
- Global Global procurement as a service market by Component
- Market segments
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Data table on Market share 2021-2027 (%)
- Category Management
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Strategic Sourcing
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spend Management
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Contract Management
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- others
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Global Global procurement as a service market by Vertical
- Market segments
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Data table on Market share 2021-2027 (%)
- BFSI
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Manufacturing
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Retail
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Healthcare
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- others
- Market Estimates & Forecast, 2020-2027
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Cisco Systems Inc. (US)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Skybox Security Inc. (US)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- HCL Technologies (India)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Tata Consultancy Services Limited (India)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Capgemini (France)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Accenture (Ireland)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- CA Technologies (US)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- WNS Holdings Ltd. (India)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Xchanging (UK)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Genpact (US)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Palo Alto Networks (US)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Proxima (UK)
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
