Middle East and Africa Procurement as-a-Service Market is expected to reach US$ 165.9 Mn by 2027

Spend Management Segment to Dominate Middle East and Africa Procurement as-a-Service Market during 2020–2027

According to our new market research study on “Middle East and Africa Procurement as-a-Service Market to 2027 – Regional Analysis and Forecast by Component, Enterprise Size, and End User Industry,” the market is expected to reach US$ 165.9 Million by 2027 from US$ 108.4 Million in 2019; it is estimated to grow at a CAGR of 6.60 % from 2020 to 2027. The report provides trends prevailing in the Middle East and Africa procurement as-a-service market along with the drivers and restraints pertaining to the market growth. The growth of the market in this region is attributed owing to the growing focus on outsourcing industrial procurement operations. However, concerns related to cybercrime restrain the growth of the Middle East and Africa procurement as-a-service market.

The procurement as-a-service market, by component, is segmented into Strategic Sourcing, Spend Management, Category Management, Process Management, Contract Management, Transaction Management. From strategic sourcing to payables, the procurement services provide a highly personalized and enriched user experience, which can learn over the time through accessing refined, real-time information. This, in turn, enables for more informed, quicker decision-making and thereby maximizing preferred suppliers.

Accenture; Genpact Ltd; GEP; HCL Technologies; IBM Corporation; Infosys Ltd; Wipro Limited; and WNS (Holdings) Limited are among the leading companies in the procurement as-a-service market in Middle East and Africa. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Infosys announced a joint venture with Hitachi, Panasonic, and Pasona for enhancing its presence in Japan. These companies together are expected to accelerate business process transformation leveraging digital procurement platforms for the local and global needs of Japanese corporations.

However, the majority of the business in these countries have come to a halt and is expected to continue slower than usual pace. The countries are taking significant containment measures to reduce the number of infected patients. This is anticipated to impact market growth in MEA negatively.

Middle East and Africa Procurement as-a-Service Market, by Country, 2019–2027 (%)

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Middle East and Africa Procurement as-a-Service Market 2027

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Middle East and Africa Procurement as-a-Service Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Strategic Sourcing, Spend Management, Category Management, Process Management, Contract Management, Transaction Management); Enterprise Size (SMEs, Large Enterprises); End-User Industry (IT and Telecom, Consumer Goods and Retail, Manufacturing, Energy and Utility, Healthcare, Hospitality and Tourism, Others); and Country

The report segments the Middle East and Africa Procurement as-a-Service Market as follows:

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

• SMEs
• Large Enterprises

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