An outsourced procurement function model that utilizes the power of staff, technology, and expertise together for optimizing the procurement function in the best possible way is defined as procurement as a service (PaaS). With the usage of procurement as a service model, the businesses are h and ed with better control over their assets and other operations. Businesses are provided with subject matter expertise and latest technology product on-dem and . The procurement as a service model has led to significant cost savings for businesses. Moreover, PaaS offers flexibility to businesses for scaling up and down the support as and when needed. Also, PaaS allows sharing of procurement complexities with businesses.
Growing procurement complexities coupled with increased regulations and resource constraints are anticipated to boost the dem and s for a flexible and cost-effective procurement as a service model for business thereby driving the procurement as a service market globally. Lack of awareness about the model is one of the major restraining factors in the procurement as a service market. Growing utilization of procurement as a service model by emerging applications such as consumer goods and retail is anticipated to further provide good opportunities to the players operating in the procurement as a service market.
The "Global Procurement as a Service Market Analysis to 2027" is a specialized and in-depth study of technology, media, and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Procurement as a service market with detailed market segmentation by component, enterprise size, end-user industry, and geography. The global procurement as a service market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading procurement as a service market players and offers key trends and opportunities in the market.
The global procurement as a service market is segmented on the basis of component, enterprise size, and end-user industry. On the basis of component, the procurement as a service market is segmented into strategic sourcing, spend management, category management, process management, contract management, and transaction management. The procurement as a service market on the basis of the enterprise size is classified into SMEs and large enterprises. Based on end-user industry, the procurement as a service market is segmented into IT and Telecom, consumer goods and retail, manufacturing, energy and utility, healthcare, hospitality and tourism, and others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global procurement as a service market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The procurement as a service market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of eighteen countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the procurement as a service market from both dem and and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the procurement as a service market in these regions.
The reports cover key developments in the procurement as a service market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from procurement as a service market are anticipated to lucrative growth opportunities in the future with the rising dem and for procurement as a service in the global market. Below mentioned is the list of few companies engaged in the procurement as a service market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the procurement as a service market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the key development in the past five years.
- Corbus, LLC
- HCL Technologies
- IBM Corporation
- Infosys Limited
- Wipro Limited
- WNS (Holdings) Ltd.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.