Procurement as-a-Service Market to Grow at a CAGR of 6.4% to reach US$ 4,741.1 million from 2020 to 2027

Procurement as-a-Service Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Component (Strategic Sourcing, Spend Management, Category Management, Process Management, Contract Management, and 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)

Publication Month: May 2020 | Report Code: TIPRE00005963 | No. of Pages: 150 | Category: Technology, Media and Telecommunications | Status: Published
Covid

The Procurement as-a-Service Market was valued at US$ 3,137.7 million in 2019 and is projected to reach US$ 4,741.1 million by 2027; it is expected to grow at a CAGR of 6.4%from 2020 to 2027.

 

Procurement as-a-service is an outsourced procurement business model that combines staff, technology, and expertise to manage a portion or complete user organization procurement functions. Technology supports the service providers to examine what their customers are spending money on, and where they are likely to find potential savings. Procurement as-a-service offerings support the endusers to select the categories for sourcing and allocate category experts to manage purchasing for those categories. These services rely on technology to do the sourcing and procurement, tracking payments and purchases, and handle three-way matching to ensure that the users are only paying for what they get. Several procurements as-a-service providers make the entire process visible to the enterprises they work with, usually through the reporting portals. Through this portal the users get the access to analytics and the procurement tool so that they can work on their own reports, record their inventory, and upload payments. Procurement as-a-service is similar to SaaS (software as a service) but manages procurement services. Thus, selecting a comprehensive procurement platform that is developed with various technology solutions to offer users with category management, supplier management, and more will ensure user’s organization with efficient performance as well as substantial cost savings.

 

The global procurement as-a-service market is anticipated to witness impressive growth during the forecast period. 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 global procurement as-a-service market. Additionally, significant technological development initiatives by several leading companies are also expected to drive the demand during the forecast period. However, concerns associated to data security may restrain the growth. Despite of this limitation, the lucrative opportunities from emerging economies is expected to offer ample growth opportunities for the players operating in the procurement as-a-service market during the forecast period.

 

North America held the largest share of the procurement as-a-servicemarket in 2019. It has contributed more than 30% to the overall revenue of procurement as-a-servicemarket in the year 2019. Asia Pacific and Europe held the second and third position respectively in the global procurement as-a-servicemarket in 2019. The market in APAC is anticipated to grow ata CAGR of 7.6% from 2020 to 2027.

 

Impact of COVID-19 Pandemic on Procurement as-a-Service Market

COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread across the globe at a rapid pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among countries that have been the worst affected by this pandemic, in terms of confirmed cases and reported deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The overall procurement as-a-service marketbreakdown due to COVID-19 is also affecting the growth of the procurement as-a-service marketdue to shutting down of factories, discontinuation of supply chain, and downturn in the world economy.Though the complete impact of COVID-19 is still unidentified, the impact across the electronics value chain will probably be far-reachingand strongly affecting parties involved with semiconductor manufacturing. COVID-19 is underlining the possible risks and vulnerability of present electronics and semiconductor value chain model as well as challenging the semiconductor industry to consider altering its global supply chain model.

 

Lucrative Regions for Procurement as-a-Service Market

Lucrative Regions for Procurement as-a-Service Market

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Market Insights

Positive impact of BPO evolution on procurement outsourcing

The BPO (business process outsourcing) industry is well matured and focuses on providing major cost benefits without hampering the value provided to the business stakeholders, and thus focusing on partnership with service providers. At present, various service providers are increasingly moving their focus from Full Time Equivalent (FTE) to transaction-based pricing models, from a vendor relationship to a strategic partnership, and from evaluating processing efficiency metrics to business metrics. Pertaining to the potential capabilities and cost savings from BPO solutions, various service providers focused on investing on procurement services and outsourcing them to various industry verticals. Though, the procurement BPO has made a late entry to the outsourcing market, it has made a significant transformation from initial development phase to mature development phase. The procurement outsourcing has moved from spend analysis and reporting to the global category and spend management; from allowing supplier management back-end analytics to actually handling tail-end suppliers. Further, various procurement service providers are focusing on catering fully customizable services to their customers in order to meet their unique requirements and thereby optimize their procurement functions. Scalable, customized procurement operations outsourcing offerings, where the resources go where they are required and are not longer-term fixed expenditures, deliver higher return on investments (ROI) in terms of costs as well as overall savings. These flexible, on-demand procurement outsourcing models are also typically more associated with a customer’s requirements, and offer access to real-time, on-demand market insight and the capability to rapidly deploy third-party sourcing resources where they are required the most. Thus, the evolution of BPO and rising focus on offering customizable services are driving the growth of the market.

 

Component -Based MarketInsights

Based on component, the procurement as-a-service markethas been segmented into strategic sourcing, spend management, category management, process management, contract management, and transaction management. The spend management segment accounted for the largest share of the market in 2019.Spend comprises analyzing companies spending patterns, spend data management, spend classification/spend categorization, and spend performance management. An effective spend management facilitates a company to guarantee that the supplier data is kept up to date so that procurement executives are provided with the right information. The spend management service also includes recognizing the existing procurement inefficiencies and thereby correcting these inefficiencies. Key activities within spend management include spend planning and disbursement, spend monitoring and analysis, and buyer management.

 

Procurement as-a-Service Market, by Component– 2019 and 2027

Procurement as-a-Service Market, by Component– 2019and 2027

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Enterprise Size -Based MarketInsights

Based on enterprise size, the procurement as-a-service marketis segmentedinto SMEs and large enterprises.In 2019, the large enterprisessegment accounted for the largest share ofthe market. The implementation of the procurement as-a-service in large enterprises is higher  compared to SMEs. Large enterprises deal with complex contracts, such as IT systems, military hardware, and public infrastructure projects, which take a longer duration to deliver services and need better expertise. Owing to this, large enterprises worldwide are focused on cost optimization and increasing the overall productivity of the businesses.

 

EndUser-Based MarketInsights

Based on end user,the procurement as-a-service marketis segmented into IT and telecom, consumer goods and retail, manufacturing, energy and utility, healthcare, hospitality and tourism, and others.In 2019, the manufacturing segment dominated the global procurement as-a-service. Manufacturing companies highly focus on delivering newer features, better-quality at lower prices, and shorter production times while sustaining market presence and handling costs adequately. Owing to this fact, the manufacturing companies across the globe are significantly adopting technology-driven and procurement outsourcing solutions, which facilitate them to modernize their manufacturing processes and attain substantial cost savings. This, in turn facilitates them to concentrate on their core competence areas, such as production, manufacturing skills, and on-time delivery.

 

Strategic Insights

Product developmentis the commonly adopted strategyby companies to expand their product portfolio. Accenture, Infosys Ltd., CAPGEMINI SE, and IBM Corporationare among the market players implementing this strategyto enlarge the customer base and gain significant market share globally, which in turn permits themto maintain their brand name in the global procurement as-a-service market.

 


Procurement as-a-Service Market Segmentation:

By Component

  • Strategic Sourcing
  • Spend Management
  • Category Management
  • Process Management
  • Contract Management
  • Transaction Management


By Enterprise Size

  • SMEs
  • Large Enterprises


By End User

 

  • IT and Telecom
  • Consumer Goods and Retail
  • Manufacturing
  • Energy and Utility
  • Healthcare
  • Hospitality and Tourism
  • Others

 

Company Profiles

  • Accenture
  • CAPGEMINI SE
  • Corbus, LLC
  • Genpact Ltd.
  • GEP
  • HCL Technologies
  • IBM Corporation
  • Infosys Ltd.
  • Wipro Limited
  • WNS (Holdings) Limited

1.             Introduction

1.1       Study Scope

1.2       The Insight Partners Research Report Guidance

1.3       Market Segmentation

2.             Key Takeaways

3.             Research Methodology

3.1       Coverage

3.2       Secondary Research

3.3       Primary Research

4.             Procurement As-a-Service Market Landscape

4.1       Market Overview

4.2       PEST Analysis

4.2.1        North America – PEST Analysis

4.2.2        Europe – PEST Analysis

4.2.3        Asia Pacific – PEST Analysis

4.2.4        Middle East and Africa – PEST Analysis

4.2.5        South America – PEST Analysis

4.3       Ecosystem Analysis

4.4       Expert Opinion

5.             Procurement As-a-Service Market – Key Market Dynamics

5.1       Market Drivers

5.1.1        Increasing demand from enterprises to streamline the procurement processes

5.1.2        Positive impact of BPO evolution on procurement outsourcing

5.2       Market Restraint

5.2.1        Concerns associated to data security

5.3       Market Opportunity

5.3.1        Lucrative opportunities from Emerging Economies

5.4       Future Trend

5.4.1        Integration of AI in procurement as-a-service offerings

5.5       Impact Analysis of Drivers and Restraints

6.             Procurement As-a-Service – Global Market Analysis

6.1       Procurement As-a-Service Market Overview

6.2       Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

6.3       Market Positioning – Global Market Players Ranking

7.             Procurement As-a-Service Market Analysis –  By Component

7.1       Overview

7.2       Procurement As-a-Service Market, By Component (2019 and 2027)

7.3       Strategic Sourcing

7.3.1        Overview

7.3.2        Strategic Sourcing: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

7.4       Spend Management

7.4.1        Overview

7.4.2        Spend Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

7.5       Category Management

7.5.1        Overview

7.5.2        Category Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

7.6       Process Management

7.6.1        Overview

7.6.2        Process Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

7.7       Contract Management

7.7.1        Overview

7.7.2        Contract Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

7.8       Transaction Management

7.8.1        Overview

7.8.2        Transaction Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027  (US$ Million)

8.             Procurement As-a-Service Market Analysis –  By Enterprise Size

8.1       Overview

8.2       Procurement As-a-Service Market, By Enterprise Size (2019 and 2027)

8.3       SMEs

8.3.1        Overview

8.3.2        SMEs: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

8.4       Large Enterprises

8.4.1        Overview

8.4.2        Large Enterprises: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

9.             Procurement as-a-Service Market Analysis –  By End-User Industry

9.1       Overview

9.2       Procurement as-a-Service Market, By End-User Industry (2019 and 2027)

9.3       IT and Telecom

9.3.1        Overview

9.3.2        IT and Telecom: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

9.4       Consumer Goods and Retail

9.4.1        Overview

9.4.2        Consumer Goods and Retail: Procurement as-a-Service Market – Revenue, and Forecast to 2027  (US$ Million)

9.5       Manufacturing

9.5.1        Overview

9.5.2        Manufacturing: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

9.6       Energy and Utility

9.6.1        Overview

9.6.2        Energy and Utility: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

9.7       Healthcare

9.7.1        Overview

9.7.2        Healthcare: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

9.8       Hospitality and Tourism

9.8.1        Overview

9.8.2        Hospitality and Tourism: Procurement as-a-Service Market – Revenue, and Forecast to 2027  (US$ Million)

9.9       Others

9.9.1        Overview

9.9.2        Others: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

10.          Procurement as-a-Service Market – Geographic Analysis

10.1    Overview

10.2    North America: Procurement as-a-Service Market

10.2.1     North America: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.2.2     North America: Procurement as-a-Service Market, by Component

10.2.3     North America: Procurement as-a-Service Market, by Enterprise Size

10.2.4     North America: Procurement as-a-Service Market, by End-User Industry

10.2.5     North America: Procurement as-a-Service Market, by Key Country

10.2.5.1    US: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.2.5.1.1    US: Procurement as-a-Service Market, by Component

10.2.5.1.2    US: Procurement as-a-Service Market, by Enterprise Size

10.2.5.1.3    US: Procurement as-a-Service Market, by End-User Industry

10.2.5.2    Canada: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.2.5.2.1    Canada: Procurement as-a-Service Market, by Component

10.2.5.2.2    Canada: Procurement as-a-Service Market, by Enterprise Size

10.2.5.2.3    Canada: Procurement as-a-Service Market, by End-User Industry

10.2.5.3    Mexico: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.2.5.3.1    Mexico: Procurement as-a-Service Market, by Component

10.2.5.3.2    Mexico: Procurement as-a-Service Market, by Enterprise Size

10.2.5.3.3    Mexico: Procurement as-a-Service Market, by End-User Industry

10.3    Europe: Procurement as-a-Service Market

10.3.1     Europe: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.3.2     Europe: Procurement as-a-Service Market, by Component

10.3.3     Europe: Procurement as-a-Service Market, by Enterprise Size

10.3.4     Europe: Procurement as-a-Service Market, by End-User Industry

10.3.5     Europe: Procurement as-a-Service Market, by Key Country

10.3.5.1    Germany: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.1.1    Germany: Procurement as-a-Service Market, by Component

10.3.5.1.2    Germany: Procurement as-a-Service Market, by Enterprise Size

10.3.5.1.3    Germany: Procurement as-a-Service Market, by End-User Industry

10.3.5.2    France: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.2.1    France: Procurement as-a-Service Market, by Component

10.3.5.2.2    France: Procurement as-a-Service Market, by Enterprise Size

10.3.5.2.3    France: Procurement as-a-Service Market, by End-User Industry

10.3.5.3    Italy: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.3.1    Italy: Procurement as-a-Service Market, by Component

10.3.5.3.2    Italy: Procurement as-a-Service Market, by Enterprise Size

10.3.5.3.3    Italy: Procurement as-a-Service Market, by End-User Industry

10.3.5.4    UK: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.4.1    UK: Procurement as-a-Service Market, by Component

10.3.5.4.2    UK: Procurement as-a-Service Market, by Enterprise Size

10.3.5.4.3    UK: Procurement as-a-Service Market, by End-User Industry

10.3.5.5    Russia: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.5.1    Russia: Procurement as-a-Service Market, by Component

10.3.5.5.2    Russia: Procurement as-a-Service Market, by Enterprise Size

10.3.5.5.3    Russia: Procurement as-a-Service Market, by End-User Industry

10.3.5.6    Rest of Europe: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.3.5.6.1    Rest of Europe: Procurement as-a-Service Market, by Component

10.3.5.6.2    Rest of Europe: Procurement as-a-Service Market, by Enterprise Size

10.3.5.6.3    Rest of Europe: Procurement as-a-Service Market, by End-User Industry

10.4    APAC: Procurement as-a-Service Market

10.4.1     APAC: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.4.2     APAC: Procurement as-a-Service Market, by Component

10.4.3     APAC: Procurement as-a-Service Market, by Enterprise Size

10.4.4     APAC: Procurement as-a-Service Market, by End-User Industry

10.4.5     APAC: Procurement as-a-Service Market, by Key Country

10.4.5.1    China: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.1.1    China: Procurement as-a-Service Market, by Component

10.4.5.1.2    China: Procurement as-a-Service Market, by Enterprise Size

10.4.5.1.3    China: Procurement as-a-Service Market, by End-User Industry

10.4.5.2    India: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.2.1    India: Procurement as-a-Service Market, by Component

10.4.5.2.2    India: Procurement as-a-Service Market, by Enterprise Size

10.4.5.2.3    India: Procurement as-a-Service Market, by End-User Industry

10.4.5.3    Japan: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.3.1    Japan: Procurement as-a-Service Market, by Component

10.4.5.3.2    Japan: Procurement as-a-Service Market, by Enterprise Size

10.4.5.3.3    Japan: Procurement as-a-Service Market, by End-User Industry

10.4.5.4    South Korea: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.4.1    South Korea: Procurement as-a-Service Market, by Component

10.4.5.4.2    South Korea: Procurement as-a-Service Market, by Enterprise Size

10.4.5.4.3    South Korea: Procurement as-a-Service Market, by End-User Industry

10.4.5.5    Australia: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.5.1    Australia: Procurement as-a-Service Market, by Component

10.4.5.5.2    Australia: Procurement as-a-Service Market, by Enterprise Size

10.4.5.5.3    Australia: Procurement as-a-Service Market, by End-User Industry

10.4.5.6    Rest of APAC: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.4.5.6.1    Rest of APAC: Procurement as-a-Service Market, by Component

10.4.5.6.2    Rest of APAC: Procurement as-a-Service Market, by Enterprise Size

10.4.5.6.3    Rest of APAC: Procurement as-a-Service Market, by End-User Industry

10.5    MEA: Procurement as-a-Service Market

10.5.1     MEA: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.5.2     MEA: Procurement as-a-Service Market, by Component

10.5.3     MEA: Procurement as-a-Service Market, by Enterprise Size

10.5.4     MEA: Procurement as-a-Service Market, by End-User Industry

10.5.5     MEA: Procurement as-a-Service Market, by Key Country

10.5.5.1    South Africa: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.5.5.1.1    South Africa: Procurement as-a-Service Market, by Component

10.5.5.1.2    South Africa: Procurement as-a-Service Market, by Enterprise Size

10.5.5.1.3    South Africa: Procurement as-a-Service Market, by End-User Industry

10.5.5.2    Saudi Arabia: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.5.5.2.1    Saudi Arabia: Procurement as-a-Service Market, by Component

10.5.5.2.2    Saudi Arabia: Procurement as-a-Service Market, by Enterprise Size

10.5.5.2.3    Saudi Arabia: Procurement as-a-Service Market, by End-User Industry

10.5.5.3    UAE: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.5.5.3.1    UAE: Procurement as-a-Service Market, by Component

10.5.5.3.2    UAE: Procurement as-a-Service Market, by Enterprise Size

10.5.5.3.3    UAE: Procurement as-a-Service Market, by End-User Industry

10.5.5.4    Rest of MEA: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.5.5.4.1    Rest of MEA: Procurement as-a-Service Market, by Component

10.5.5.4.2    Rest of MEA: Procurement as-a-Service Market, by Enterprise Size

10.5.5.4.3    Rest of MEA: Procurement as-a-Service Market, by End-User Industry

10.6    SAM: Procurement as-a-Service Market

10.6.1     SAM: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.6.2     SAM: Procurement as-a-Service Market, by Component

10.6.3     SAM: Procurement as-a-Service Market, by Enterprise Size

10.6.4     SAM: Procurement as-a-Service Market, by End-User Industry

10.6.5     SAM: Procurement as-a-Service Market, by Key Country

10.6.5.1    Brazil: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.6.5.1.1    Brazil: Procurement as-a-Service Market, by Component

10.6.5.1.2    Brazil: Procurement as-a-Service Market, by Enterprise Size

10.6.5.1.3    Brazil: Procurement as-a-Service Market, by End-User Industry

10.6.5.2    Argentina: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.6.5.2.1    Argentina: Procurement as-a-Service Market, by Component

10.6.5.2.2    Argentina: Procurement as-a-Service Market, by Enterprise Size

10.6.5.2.3    Argentina: Procurement as-a-Service Market, by End-User Industry

10.6.5.3    Rest of SAM: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

10.6.5.3.1    Rest of SAM: Procurement as-a-Service Market, by Component

10.6.5.3.2    Rest of SAM: Procurement as-a-Service Market, by Enterprise Size

10.6.5.3.3    Rest of SAM: Procurement as-a-Service Market, by End-User Industry

11.          Impact of COVID-19 Pandemic on Global Procurement as-a Service Market

11.1.1     North America: Impact Assessment of COVID-19 Pandemic

11.1.2     Europe: Impact Assessment of COVID-19 Pandemic

11.1.3     Asia-Pacific: Impact Assessment of COVID-19 Pandemic

11.1.4     RoW: Impact Assessment of COVID-19 Pandemic

12.          Global Payment Machine Mounting System Market-Industry Landscape

12.1    Market Initiative

12.2    Merger and Acquisition

13.          Company Profiles

13.1    Accenture

13.1.1     Key Facts

13.1.2     Business Description

13.1.3     Products and Services

13.1.4     Financial Overview

13.1.5     SWOT Analysis

13.1.6     Key Developments

13.2    CAPGEMINI SE

13.2.1     Key Facts

13.2.2     Business Description

13.2.3     Products and Services

13.2.4     Financial Overview

13.2.5     SWOT Analysis

13.2.6     Key Developments

13.3    Corbus, LLC

13.3.1     Key Facts

13.3.2     Business Description

13.3.3     Products and Services

13.3.4     Financial Overview

13.3.5     SWOT Analysis

13.3.6     Key Developments

13.4    Genpact Ltd.

13.4.1     Key Facts

13.4.2     Business Description

13.4.3     Products and Services

13.4.4     Financial Overview

13.4.5     SWOT Analysis

13.4.6     Key Developments

13.5    GEP

13.5.1     Key Facts

13.5.2     Business Description

13.5.3     Products and Services

13.5.4     Financial Overview

13.5.5     SWOT Analysis

13.5.6     Key Developments

13.6    HCL Technologies

13.6.1     Key Facts

13.6.2     Business Description

13.6.3     Products and Services

13.6.4     Financial Overview

13.6.5     SWOT Analysis

13.6.6     Key Developments

13.7    IBM Corporation

13.7.1     Key Facts

13.7.2     Business Description

13.7.3     Products and Services

13.7.4     Financial Overview

13.7.5     SWOT Analysis

13.7.6     Key Developments

13.8    Infosys Ltd.

13.8.1     Key Facts

13.8.2     Business Description

13.8.3     Products and Services

13.8.4     Financial Overview

13.8.5     SWOT Analysis

13.8.6     Key Developments

13.9    Wipro Limited

13.9.1     Key Facts

13.9.2     Business Description

13.9.3     Products and Services

13.9.4     Financial Overview

13.9.5     SWOT Analysis

13.9.6     Key Developments

13.10 WNS (Holdings) Limited

13.10.1   Key Facts

13.10.2   Business Description

13.10.3   Products and Services

13.10.4   Financial Overview

13.10.5   SWOT Analysis

13.10.6   Key Developments

14.          Appendix

14.1    About The Insight Partners

14.2    Glossary of Terms

LIST OF TABLES

Table 1.             Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Table 2.             North America: Procurement as-a-Service Market, by Component – Revenue and Forecast to 2027  (US$ Million)

Table 3.             North America: Procurement as-a-Service Market, by Enterprise Size – Revenue and Forecast to 2027  (US$ Million)

Table 4.             North America: Procurement as-a-Service Market, by End-User Industry– Revenue and Forecast to 2027  (US$ Million)

Table 5.             North America : Procurement as-a-Service Market, by Country – Revenue and Forecast to 2027 (US$ Million)

Table 6.             US: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 7.             US: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 8.             US: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)

Table 9.             Canada: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 10.          Canada: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 11.          Canada: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)

Table 12.          Mexico: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 13.          Mexico: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 14.          Mexico: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)

Table 15.          Europe: Procurement as-a-Service Market, by Component – Revenue and Forecast to 2027 (US$ Million)

Table 16.          Europe: Procurement as-a-Service Market, by Enterprise Size – Revenue and Forecast to 2027 (US$ Million)

Table 17.          Europe: Procurement as-a-Service Market, by End-User Industry – Revenue and Forecast to 2027 (US$ Million)

Table 18.          Europe: Procurement as-a-Service Market, by Country – Revenue and Forecast to 2027 (US$ Million)

Table 19.          Germany: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 20.          Germany: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 21.          Germany: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027  (US$ Million)

Table 22.          France: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 23.          France: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 24.          France: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)

Table 25.          Italy: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 26.          Italy: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 27.          Italy: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)

Table 28.          UK: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 29.          UK: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 30.          UK: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)

Table 31.          Russia: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 32.          Russia: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 33.          Russia: Procurement as-a-Service Market, by End-User Industry–Revenue and Forecast to 2027 (US$ Million)

Table 34.          Rest of Europe: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 35.          Rest of Europe: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027  (US$ Million)

Table 36.          Rest of Europe: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027  (US$ Million)

Table 37.          APAC: Procurement as-a-Service Market, by Component – Revenue and Forecast to 2027 (US$ Million)

Table 38.          APAC: Procurement as-a-Service Market, by Enterprise Size – Revenue and Forecast to 2027 (US$ Million)

Table 39.          APAC: Procurement as-a-Service Market, by End-User Industry – Revenue and Forecast to 2027 (US$ Million)

Table 40.          APAC: Procurement as-a-Service Market, by Country – Revenue and Forecast to 2027 (US$ Million)

Table 41.          China: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 42.          China: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 43.          China: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)

Table 44.          India: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 45.          India: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 46.          India: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)

Table 47.          Japan: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 48.          Japan: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 49.          Japan: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)

Table 50.          South Korea: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 51.          South Korea: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027  (US$ Million)

Table 52.          South Korea: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027  (US$ Million)

Table 53.          Australia: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 54.          Australia: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 55.          Australia: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027  (US$ Million)

Table 56.          Rest of APAC: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 57.          Rest of APAC: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027  (US$ Million)

Table 58.          Rest of APAC: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027  (US$ Million)

Table 59.          Middle East and Africa Procurement as-a-service, by Component – Revenue and Forecast to 2027 (USD Million)

Table 60.          MEA: Procurement as-a-Service Market, by Enterprise Size – Revenue and Forecast to 2027 (US$ Million)

Table 61.          MEA: Procurement as-a-Service Market, by End-User Industry – Revenue and Forecast to 2027 (US$ Million)

Table 62.          MEA: Procurement as-a-Service Market, by Country – Revenue and Forecast to 2027 (US$ Million)

Table 63.          South Africa: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 64.          South Africa: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027  (US$ Million)

Table 65.          South Africa: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027  (US$ Million)

Table 66.          Saudi Arabia: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 67.          Saudi Arabia: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027  (US$ Million)

Table 68.          Saudi Arabia: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027  (US$ Million)

Table 69.          UAE: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 70.          UAE: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 71.          UAE: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)

Table 72.          Rest of MEA: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 73.          Rest of MEA: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027  (US$ Million)

Table 74.          Rest of MEA: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027  (US$ Million)

Table 75.          SAM: Procurement as-a-Service Market, by Component – Revenue and Forecast to 2027 (US$ Million)

Table 76.          SAM: Procurement as-a-Service Market, by Enterprise Size – Revenue and Forecast to 2027 (US$ Million)

Table 77.          SAM: Procurement as-a-Service Market, by End-User Industry – Revenue and Forecast to 2027 (US$ Million)

Table 78.          SAM: Procurement as-a-Service Market, by Country – Revenue and Forecast to 2027 (US$ Million)

Table 79.          Brazil: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 80.          Brazil: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 81.          Brazil: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)

Table 82.          Argentina: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 83.          Argentina: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)

Table 84.          Argentina: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027  (US$ Million)

Table 85.          Rest of SAM: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)

Table 86.          Rest of SAM: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027  (US$ Million)

Table 87.          Rest of SAM: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027  (US$ Million)

Table 88.          Glossary of Term: Procurement as-a-Service Market

 

 

LIST OF FIGURES

Figure 1.           Procurement as-a-Service Market Segmentation

Figure 2.           Procurement as-a-Service Market Segmentation – By Geography

Figure 3.           Global Procurement As-a-Service Market Overview

Figure 4.           Global Procurement As-a-Service Market – Geography Analysis

Figure 5.           Global Procurement As-a-Service Market – Component Analysis

Figure 6.           Global Procurement As-a-Service Market – Enterprise Size Analysis

Figure 7.           North America – PEST Analysis

Figure 8.           Europe – PEST Analysis

Figure 9.           Asia Pacific – PEST Analysis

Figure 10.        Middle East and Africa – PEST Analysis

Figure 11.        SAM – PEST Analysis

Figure 12.        Procurement As-a-Service Market – Ecosystem Analysis

Figure 13.        Expert Opinion

Figure 14.        Procurement As-a-Service Market Impact Analysis of Drivers And Restraints

Figure 15.        Geographic Overview of Procurement As-a-Service Market

Figure 16.        Global: Procurement As-a-Service Market – Revenue and Forecast to 2027 (US$ Million)

Figure 17.        Procurement As-a-Service Market Revenue Share, by Component (2019 and 2027)

Figure 18.        Strategic Sourcing: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 19.        Spend Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 20.        Category Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 21.        Process Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 22.        Contract Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 23.        Transaction Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 24.        Procurement As-a-Service Market Revenue Share, by Enterprise Size (2019 and 2027)

Figure 25.        SMEs: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 26.        Large Enterprises: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 27.        Procurement as-a-Service Market Revenue Share, by End-User Industry (2019 and 2027)

Figure 28.        IT and Telecom: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 29.        Consumer Goods and Retail: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 30.        Manufacturing: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 31.        Energy and Utility: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 32.        Healthcare: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 33.        Hospitality and Tourism: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 34.        Others: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)

Figure 35.        Procurement as-a-Service Market Revenue Share, By Region (2019 and 2027)

Figure 36.        North America: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 37.        North America: Procurement as-a-Service Market Revenue Share, By Component (2019 and 2027)

Figure 38.        North America: Procurement as-a-Service Market Revenue Share, By Enterprise Size (2019 and 2027)

Figure 39.        North America: Procurement as-a-Service Market Revenue Share, By End-User Industry (2019 and 2027)

Figure 40.        North America: Procurement as-a-Service Market Revenue Share, By Key Country (2019 and 2027)

Figure 41.        US: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 42.        Canada: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 43.        Mexico: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 44.        Europe: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 45.        Europe: Procurement as-a-Service Market Revenue Share, By Enterprise Size (2019 and 2027)

Figure 46.        Europe: Procurement as-a-Service Market Revenue Share, By End-User Industry (2019 and 2027)

Figure 47.        Europe: Procurement as-a-Service Market Revenue Share, By Key Country (2019 and 2027)

Figure 48.        Germany: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 49.        France: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 50.        Italy: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 51.        UK: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 52.        Russia: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 53.        Rest of Europe: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 54.        APAC: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 55.        APAC: Procurement as-a-Service Market Revenue Share, By Component (2019 and 2027)

Figure 56.        APAC: Procurement as-a-Service Market Revenue Share, By Enterprise Size (2019 and 2027)

Figure 57.        APAC: Procurement as-a-Service Market Revenue Share, By End-User Industry (2019 and 2027)

Figure 58.        APAC: Procurement as-a-Service Market Revenue Share, By Key Country (2019 and 2027)

Figure 59.        China: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 60.        India: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 61.        Japan: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 62.        South Korea: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 63.        Australia: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 64.        Rest of APAC: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 65.        MEA: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 66.        MEA: Procurement as-a-Service Market Revenue Share, By Component (2019 and 2027)

Figure 67.        MEA: Procurement as-a-Service Market Revenue Share, By Enterprise Size (2019 and 2027)

Figure 68.        MEA: Procurement as-a-Service Market Revenue Share, By End-User Industry (2019 and 2027)

Figure 69.        MEA: Procurement as-a-Service Market Revenue Share, By Key Country (2019 and 2027)

Figure 70.        South Africa: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 71.        Saudi Arabia: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 72.        UAE: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 73.        Rest of MEA: Procurement as-a-Service Market – Revenue and Forecast To 2027 (US$ Million)

Figure 74.        SAM: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 75.        SAM: Procurement as-a-Service Market Revenue Share, By Component (2019 and 2027)

Figure 76.        SAM: Procurement as-a-Service Market Revenue Share, By Enterprise Size (2019 and 2027)

Figure 77.        SAM: Procurement as-a-Service Market Revenue Share, By End-User Industry (2019 and 2027)

Figure 78.        SAM: Procurement as-a-Service Market Revenue Share, By Key Country (2019 and 2027)

Figure 79.        Brazil: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 80.        Argentina: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 81.        Rest of SAM: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)

Figure 82.        Impact of COVID-19 Pandemic In North American Country Markets

Figure 83.        Impact of COVID-19 Pandemic In Europe Country Markets

Figure 84.        Impact of COVID-19 Pandemic In Asia Pacific Country Markets

Figure 85.        Impact of COVID-19 Pandemic In Row Markets

 

The List of companies - Procurement as-a-Service Market

  1. Accenture
  2. CAPGEMINI SE
  3. Corbus, LLC
  4. Genpact Ltd
  5. GEP
  6. HCL Technologies
  7. IBM Corporation
  8. Infosys Ltd.
  9. Wipro Limited
  10. WNS (Holdings) Limited
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the globalprocurement as-a-servicemarket.

  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the globalvolumetric videomarket, thereby allowing players across the value chain to develop effective long-term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth globalmarket trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

 

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Frequently Asked Questions

The North America region constitutes developed economies including, US Canada, and Mexico. Across North America, technological advancements have led to a highly competitive market. North America region attracts several technological developments, which consist of economically robust countries. The region has a leverage of continuous technological developments. Growth in technologies assist in stimulating the business of other industries. Procurement solutions include intelligent automation, augmented intelligence, industrial internet of things (IIoT), order management, and supply chain management. In the region, several businesses are working with Artificial intelligence (AI) and sophisticated machine learning algorithms technologies. The potential of such cognitive technologies to make an impact in a business to business (B2B) environment has not fully realized. AI is a major enabler technology; it simulates human decision making by examining data, creating hypotheses, and assessing evidence to make an informed decision. Procurement service providers can look into using these technologies in order to enhance business operations and achieve cost savings through better process efficiency; it helps to identify tail spend suppliers.

Procurement is one of the most important and complex business processes in the both SMEs as well as large enterprises, as this business function is responsible for various day-to-day operations of the enterprises. Procurement are of 2 types, including, direct and indirect procurement. The direct procurement is a process that is involved in acquiring various raw materials and goods for final product production. These acquisitions are conducted frequently and are very essential for key business practices, such as an automaker acquiring steel to produce vehicles. If direct procurement encounters problems or stops functioning, companies will no longer be capable to produce their products and generate revenue. Whereas, in indirect procurement process, the enterprises are involved in purchasing services or supplies that are needed to keep the day-to-day business alive.

Spend comprises analyzing companies spending patterns, spend data management, spend classification/spend categorization, and spend performance management. An effective spend management supports a company to guarantee that the supplier data is kept up to date so that procurement executives are provided with the right information. Further, the supplier databases are integrated throughout the company in order to avoid duplication of the suppliers. The spend management service also includes recognizing the existing procurement inefficiencies and thereby correcting these inefficiencies. Key activities within spend management include spend planning and disbursement, spend monitoring and analysis, and buyer management. For instance, GEP SMART is a combined, procurement software platform that provides complete spend management capabilities, including contract management, spend analysis, supplier management, category management, savings tracking, sourcing, and procure-to-pay. GEP SMART features advanced spend analysis functionality, delivering real-time spend transparency along with historical data for supporting the companies to establish spend trends and conduct opportunity analysis for recognizing cost saving opportunities. Also, this solution turns potential savings opportunities into the structured savings projects, with clearly defined milestones and performance metrics.

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