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PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1529929
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1529929
Procurement As a Service Market, By Component, By Enterprise Size, By Vertical, By Geography
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PAGES: 160 Pages
DELIVERY TIME: 2-3 business days
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Global Procurement As a Service Market is estimated to be valued at US$ 7.03 Bn in 2024 and is expected to reach US$ 15.12 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.6% from 2024 to 2031.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 7.03 Bn |
| Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
| Forecast Period 2024 to 2031 CAGR: | 11.60% | 2031 Value Projection: | US$ 15.12 Bn |
Figure. Procurement As a Service Market Share (%), By Region 2024
Procurement as a service (PaaS) is an outsourced service wherein procurement activities are handled by third-party service providers. PaaS helps companies focus on their core business operations by outsourcing procurement functions. It allows organizations to leverage expertise of procurement service providers to achieve efficiency, reduce costs, manage supply chain complexity and ensure compliance. Key benefits of PaaS include access to category management expertise, improved compliance with regulatory guidelines, centralized spend management and analytics-driven decision-making. With growing focus on optimizing costs and streamlining operational processes, the adoption of procurement as a service solution is projected to rise significantly over the coming years.
Market Dynamics:
The global procurement as a service market is driven by the need for spend optimization and cost reduction among organizations. Outsourcing procurement processes helps lower operating costs by increasing process efficiency and rationalizing supplier base. Rising complexities in supply chain management also necessitate adopting PaaS solutions to better manage inventory, transportation and supplier relationships. Growing emphasis on compliance and regulatory mandates forces companies to have centralized oversight of procurement activities, fostering market opportunities. However, reluctance to lose control over critical business functions and data security concerns impede the complete adoption of PaaS. Market players need to offer customizable solutions with robust security features. Focusing on specific industry capabilities will help cater to emerging opportunities.
Key features of the study:
- This report provides in-depth analysis of the global procurement as a service market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 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 as a service 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, Aegis One Consults Ltd, CA Technologies, Capgemini, Corbus India LLP, F-code, GEP, Genpact, HCL Technologies Limited, IBM Corporation, Infosys Limited, Proxima Group, Simfoni Limited, Tata Consultancy Services (TCS), Wipro.
- 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 as a service 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 as a service market.
Detailed Segmentation:
- By Component
- Strategic Sourcing
- Spend Management
- Process Management
- Category Management
- Contract Management
- Transaction Management
- By Enterprise Size
- SMEs
- Large Enterprises
- By Vertical
- Manufacturing
- Retail
- IT & Telecom
- BFSI
- Healthcare
- Others
- By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Key Players Insights
- Accenture plc
- Aegis One Consults Ltd
- CA Technologies
- Capgemini
- Corbus India LLP
- F-code
- GEP
- Genpact
- HCL Technologies Limited
- IBM Corporation
- Infosys Limited
- Proxima Group
- Simfoni Limited
- Tata Consultancy Services (TCS)
- Wipro
Product Code: CMI7164
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Component
- Market Snippet, By Enterprise Size
- Market Snippet, By Vertical
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New System Launches/Approvals
- Impact of COVID-19 Pandemic
4. Global Procurement As a Service Market, By Component, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
- Strategic Sourcing
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Spend Management
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Process Management
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Category Management
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Contract Management
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Transaction Management
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
5. Global Procurement As a Service Market, By Enterprise Size, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
- SMEs
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Large Enterprises
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
6. Global Procurement As a Service Market, By Vertical, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
- Manufacturing
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Retail
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- IT & Telecom
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- BFSI
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Healthcare
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
7. Global Procurement As a Service Market, By Region, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- North America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Enterprise Size, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Vertical, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
- U.S.
- Canada
- Europe
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Enterprise Size, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Vertical, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
- U.K.
- Spain
- Italy
- Germany
- France
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Enterprise Size, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Vertical, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Enterprise Size, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Vertical, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Enterprise Size, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Vertical, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
- South Africa
- Israel
- GCC Countries
- Rest of the Middle East & Africa
8. Competitive Landscape
- Company Profiles
- Accenture plc
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Aegis One Consults Ltd
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- CA Technologies
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Capgemini
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Corbus India LLP
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- F-code
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- GEP
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Genpact
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- HCL Technologies Limited
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- IBM Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Infosys Limited
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Proxima Group
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Simfoni Limited
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Tata Consultancy Services (TCS)
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Wipro
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Accenture plc
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. Research Methodology
- References
- Research Methodology
- About us and Sales Contact
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