The Procurement as-a-Service market in Middle East and Africa is expected to grow from US$ 108.4 Million in 2019 to US$ 165.9 Million by 2027; it is estimated to grow at a CAGR of 6.60 % from 2020 to 2027.
The region is expected to see a rapid rise in marketing and industrialization, which would further improve the diverse industries. The Gulf countries are economically advanced, while the African countries still have to balance the economic conditions of the Gulf countries. Organizations in the region are working internationally for raw materials and product procurements from several suppliers and countries. Procurement services in supply chain aids finished goods delivery, and it also supports the business’s competitive advantage, which requires a huge effective supply chain operation. The procurement service professionals in the Middle East have to optimize their procurement know-how as the company environment has been changed, and the competition is surging.
There is a rising focus on developing procurement capabilities and embracing new technologies in order to gain benefit of the opportunity to handle growing threats to the supply chain. Advanced technologies offer an opportunity for procurement and supply specialists to re-evaluate the skills, which are needed, and which tasks are important and what activities can be better undertaken by the technology.
The growing advanced technology tools enable procurement service providers to focus on strategic objectives targeted at producing a competitive advantage for an organization. The increasing demand from enterprises to streamline the procurement processes and positive impact of BPO evolution on procurement outsourcing are the major driving factors for the Middle East and Africa procurement as-a-service market
Saudi Arabia has the largest COVID-19 cases in the Middle East and Africa region and is followed by Iran, South Africa, and UAE, among others. UAE was the first country in the Middle East and Africa to report a confirmed case of coronavirus. MEA countries are still combating the virus, and are exercising lockdown, which is a critical factor towards the slowdown in the growth of procurement as-a service market.
Middle East and Africa Procurement as-a-Service Market Segmentation
Middle East and Africa Procurement as-a-Service Market – by Component
- Strategic Sourcing
- Spend Management
- Category Management
- Process Management
- Contract Management
- Transaction Management
Middle East and Africa Procurement as-a-Service Market – by Enterprise Size
Middle East and Africa Procurement as-a-Service Market – by End-User Industry
- IT and Telecom
- Consumer Goods and Retail
- Manufacturing
- Energy and Utility
- Healthcare
- Hospitality and Tourism
- Others
Middle East and Africa Procurement as-a-Service Market – by Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
Middle East and Africa Procurement as-a-Service Market-Companies Mentioned
- Accenture
- Genpact Ltd
- GEP
- HCL Technologies
- IBM Corporation
- Infosys Ltd
- Wipro Limited
- WNS (Holdings) Limited
Middle East and Africa Procurement as-a-Service Report Scope
| Report Attribute |
Details |
| Market size in 2019 |
US$ 108.4 Million |
| Market Size by 2027 |
US$ 165.9 Million |
| Global CAGR (2020 - 2027) |
6.60 % |
| Historical Data |
2017-2018 |
| Forecast period |
2020-2027 |
| Segments Covered |
By Component - Strategic Sourcing
- Spend Management
- Category Management
- Process Management
- Contract Management
- Transaction Management
By Enterprise Size By End-User Industry - IT and Telecom
- Consumer Goods and Retail
- Manufacturing
- Energy and Utility
- Healthcare
- Hospitality and Tourism
|
| Regions and Countries Covered |
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
|
| Market leaders and key company profiles |
Accenture
Genpact Ltd
GEP
HCL Technologies
IBM Corporation
Infosys Ltd
Wipro Limited
WNS (Holdings) Limited |