Procurement Outsourcing Market, By Service Type, By End User, By Organization Size, By Geography

Description

Global procurement outsourcing market size is estimated to be valued at US$ 5.15 billion in 2023, and is expected to exhibit a CAGR of 11.7% during the forecast period, reaching US$ 11.17 billion by 2030.

Report Coverage		Report Details
Base Year:	2022	Market Size in 2023:	US$ 5.15 Bn
Historical Data for:	2018 to 2021	Forecast Period:	2023 - 2030
Forecast Period 2023 to 2030 CAGR:	11.70%	2030 Value Projection:	US$ 11.17 Bn

Figure 1. Global Procurement Outsourcing Market Share (%), By Region, 2022

Procurement outsourcing is the process of assigning procurement-related tasks to a third-party service provider. This can involve shifting all procurement-related responsibilities or just a few of these. The main goal of outsourcing procurement is to reduce costs and free up resources within a company for other purposes. Purchasing experts have access to a larger supplier database than a business does. These people can also use their market power to negotiate better deals on customer's behalf. This allows businesses to get the best price on all the materials and services customers need. Another benefit of outsourcing procurement is that it lets consumer focus on their core competencies. There are two types of procurement: direct and indirect. Direct procurement includes the purchase of raw materials and tools for a company's core activities. Outsourcing procurement activities allows companies to focus on their core competencies while leveraging the expertise of specialized third-party providers

Market Dynamics:

Rising inclination of industrial sector toward procurement outsourcing services is expected to drive growth of the global procurement outsourcing market during the forecast period. This is mainly to reduce the cost of purchasing raw materials and other inputs. This will also lead to the increased efficiency of the supply chain network, thereby, enabling companies to provide products and services at competitive prices. Rising need for managing and storing raw materials is creating growth opportunities in the market. On the upside, rising adoption of managed procurement services (MPS) and spend analytics presents significant growth opportunities for market players.

However, lack of skilled professionals and security concerns are likely to hinder growth of the global procurement outsourcing market over the forecast period.

Key features of the study:

This report provides in-depth analysis of the global procurement outsourcing market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global procurement outsourcing market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Accenture Plc., IBM Corporation, GEP Worldwide, Infosys Limited, Capgemini SE, Genpact Ltd., WNS (Holdings) Limited, HCL Technologies Ltd., Wipro Limited, Tata Consultancy Services Limited, Xchanging Solutions Limited, Corbus, LLC, Proxima Group, Aquanima, and CA Technologies (Broadcom Inc.)
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global procurement outsourcing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global procurement outsourcing market

Detailed Segmentation:

By Service Type:
- Business Process Outsourcing Services
- Consulting Services
By End User:
- Manufacturing
- Retail and Consumer Goods
- Healthcare
- IT and Telecom
- BFSI (Banking, Financial Services, and Insurance)
- Energy and Utilities
- Transportation and Logistics
- Others
By Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Company Profile:
- Accenture Plc.
- IBM Corporation
- GEP Worldwide
- Infosys Limited
- Capgemini SE
- Genpact Ltd.
- WNS (Holdings) Limited
- HCL Technologies Ltd.
- Wipro Limited
- Tata Consultancy Services Limited
- Xchanging Solutions Limited
- Corbus, LLC
- Proxima Group
- Aquanima
- CA Technologies (Broadcom Inc.)

Product Code: CMI5889

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Service Type
- Market Snippet, By Organization Size
- Market Snippet, By End User
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
Rising inclination of industrial sector toward procurement outsourcing services
Growing focus on cost reduction
- Restraints
Lack of skilled professionals
Security concerns
- Opportunities
Rising need for managing and storing raw materials
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario

4. Global Procurement Outsourcing Market- Impact of Coronavirus (COVID-19) Pandemic

COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact

5. Global Procurement Outsourcing Market, By Service Type, 2018-2030, (US$ Bn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
Business Process Outsourcing Services
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Consulting Services
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)

6. Global Procurement Outsourcing Market, By End User, 2018-2030, (US$ Bn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018- 2030
- Segment Trends
Manufacturing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Retail and Consumer Goods
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Healthcare
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
IT and Telecom
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
BFSI (Banking, Financial Services, and Insurance)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Energy and Utilities
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Transportation and Logistics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)

7. Global Procurement Outsourcing Market, By Organization Size, 2018-2030,(US$ Bn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018- 2030
- Segment Trends
Small and Medium-sized Enterprises (SMEs)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)
Large Enterprises
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Bn)

8. Global Procurement Outsourcing Market, By Region, 2018-2030,(US$ Bn)

Introduction
- Market Share Analysis, By Region, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Region, 2018-2030
- Country Trends
North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2018-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Organization Size, 2018-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030, (US$ Bn)
- Market Share Analysis, By Country, 2017 and 2030(%)
U.S.
Canada
Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2018-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Organization Size, 2018-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030, (US$ Bn)
- Market Share Analysis, By Country, 2017 and 2030(%)
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2018-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Organization Size, 2018-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030, (US$ Bn)
- Market Share Analysis, By Country, 2017 and 2030(%)
China
India
Japan
Australia
South Korea
ASEAN
Rest Of Asia Pacific
Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2018-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Organization Size, 2018-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030, (US$ Bn)
- Market Share Analysis, By Country, 2017 and 2030(%)
Brazil
Mexico
Rest Of Asia Pacific
Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2018-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Organization Size, 2018-2030, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030, (US$ Bn)
- Market Share Analysis, By Country, 2017 and 2030 (%)
South Africa
GCC Countries
Rest of the Middle East and Africa

9. Competitive Landscape

Accenture Plc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
IBM Corporation
GEP Worldwide
Infosys Limited
Capgemini SE
Genpact Ltd.
WNS (Holdings) Limited
HCL Technologies Ltd.
Wipro Limited
Tata Consultancy Services Limited
Xchanging Solutions Limited
Corbus, LLC
Proxima Group
Aquanima
CA Technologies (Broadcom Inc.)
Analyst Views

10. Section

Research Methodology
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