Procurement Outsourcing Market Size- By Component, By Service Type, By Deployment Model, By Enterprise Size, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Description

Global Procurement Outsourcing Market Overview

According to SPER Market Research, the Global Procurement Outsourcing Market is estimated to reach USD 11.89 billion by 2032 with a CAGR of 14.43%.

A method of obtaining and managing the raw materials required for the production of a good or the provision of a certain service is known as procurement outsourcing. It makes it easier to communicate important information to the outside vendor. The information also includes the order and payment details for the goods and services. The outsourcing of certain crucial procurement functions, such as vendor management, to a third party lowers total costs and enables businesses to concentrate on their core capabilities. The most common actions for which the company enters into an agreement are often procurement categorization and vendor management of raw materials and services. One advantage of procurement outsourcing is that it frees up internal staff members' time to concentrate on the core functions of the company.

The adoption of cutting-edge technologies to streamline business processes will fuel the growth of the procurement outsourcing market throughout the anticipated time period. Businesses are eager to use these technologies to improve their scalability, flexibility, and cut overall operating expenses. Additionally, commercial operations are becoming automated as a result of machine learning and artificial intelligence.

In order to focus on their core competencies, businesses are embracing software as a service to outsource their business processes to a third-party provider. This will lower the handling and maintenance costs for the businesses, which would accelerate the market's growth rate sharply higher. This further has the effect of lowering procurement operation costs and streamlining the procurement process.

Other significant market drivers throughout the projection period include growing urbanization, industrialization, and the requirement to extract benchmarking results. Furthermore, it is projected that the expanding availability of raw materials combined with the rising demand to monitor compliance agreements and regulations will propel the market's growth rate.

Impact of COVID-19 on the Global Procurement Outsourcing Market

Due to lockdowns and travel restrictions imposed by the government, the COVID-19 pandemic has been impacting the economies and companies in various countries. The closure of a number of manufacturing facilities has had a negative impact on market sales, production, shipment plans, and worldwide supply networks. Only a few companies have warned of potential delays in product shipments and drops in future product sales. The market for procurement outsourcing has benefited from the use of cutting-edge technologies during the epidemic to increase operational efficiency and cut costs. To automate the procurement process, the businesses are incorporating artificial intelligence and machine learning. Additionally, by concentrating on their core strengths rather than unrelated operations, the organizations benefit from this approach.

Scope of the Report:

Report Metric Details

Market size available for years 2019-2032

Base year considered 2021

Forecast period 2022-2032

Segments covered By Component, By Service Type, By Deployment Model, By Enterprise Size, By Application, By End User

Regions covered Asia-Pacific, Europe, Middle East and Africa, North America, Latin America

Companies Covered

Accenture, AEGIS Company, Aquanima S.A., Broadcom, Capgemini, Corbus, LLC, DXC Technology Company, Genpact, GEP, HCL Technologies Limited, IBM, Infosys Limited, Oracle, Proxima, Tata Consultancy Services Limited, Wipro Limited, WNS

Global Procurement Outsourcing Market Segmentation:

By Component: Based on the Component, Global Procurement Outsourcing Market is segmented as; Services, Solution.

By Service Type: Based on the Service Type, Global Procurement Outsourcing Market is segmented as; Business Process Outsourcing Services, Category Management, Consulting Services, Procure to Pay, Procurement Management, Source Management, Supplier Management.

By Enterprise Size: Based on the Enterprise Size, Global Procurement Outsourcing Market is segmented as; Large Enterprises, Small & Medium Enterprises.

By Application: Based on the Application, Global Procurement Outsourcing Market is segmented as; Facilities Management & Office Services, HR Related Services, IT Related Services, Marketing Related Services, Others.

By End User: Based on the End User, Global Procurement Outsourcing Market is segmented as; Automotive, BFSI, Biotechnology, Consumer Goods, Electronics, Energy and Utilities, Healthcare, Industrial, IT & Telecom, Logistics, Manufacturing, Oil & Gas, Pharmaceuticals, Power Generation, Retail, Water, Others.

By Region: Due to the rising usage of procurement outsourcing services across numerous industry verticals, including healthcare, energy and utilities, life sciences, and others, Asia-Pacific is anticipated to dominate the market throughout the forecast period. The manufacturing industry is probably going to implement procurement outsourcing at the fastest rate in the area.

Product Code: IACT2313

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1 Research data source
- 2.1.1 Secondary data
- 2.1.2 Primary data
- 2.1.3 SPER's internal database
- 2.1.4 Premium insight from KOL's
2.2 Market size estimation
- 2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1 Drivers
- 4.1.2 Restraints
- 4.1.3 Opportunities
- 4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Procurement Outsourcing Market

5. Market variables and outlook

5.1. SWOT analysis
- 5.1.1 Strengths
- 5.1.2 Weaknesses
- 5.1.3 Opportunities
- 5.1.4 Threats
5.2. PESTEL analysis
- 5.2.1 Political landscape
- 5.2.2 Economic landscape
- 5.2.3 Social landscape
- 5.2.4 Technological landscape
- 5.2.5 Environmental landscape
- 5.2.6 Legal landscape
5.3. PORTER'S five forces analysis
- 5.3.1 Bargaining power of suppliers
- 5.3.2 Bargaining power of Buyers
- 5.3.3 Threat of Substitute
- 5.3.4 Threat of new entrant
- 5.3.5 Competitive rivalry
5.4. Heat map analysis

6. Competitive Landscape

6.1 Global Procurement Outsourcing Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Procurement Outsourcing Market

7. Global Procurement Outsourcing Market, By Component, 2019-2032 (USD Million)

7.1 Services
7.2 Solution

8. Global Procurement Outsourcing Market, By Service Type, 2019-2032 (USD Million)

8.1 Business Process Outsourcing Services
8.2 Category Management
8.3 Consulting Services
8.4 Procure to Pay
8.5 Procurement Management
8.6 Source Management
8.7 Supplier Management

9. Global Procurement Outsourcing Market, By Deployment Model, 2019-2032 (USD Million)

9.1 Cloud
9.2 On-Premises

10. Global Procurement Outsourcing Market, By Enterprise Size, 2019-2032 (USD Million)

10.1 Large Enterprises
10.2 Small & Medium Enterprises

11. Global Procurement Outsourcing Market, By Application, 2019-2032 (USD Million)

11.1 Facilities Management & Office Services
11.2 HR Related Services
11.3 IT Related Services
11.4 Marketing Related Services
11.5 Others

12. Global Procurement Outsourcing Market, By End User, 2019-2032 (USD Million)

12.1 Automotive
12.2 BFSI
12.3 Biotechnology
12.4 Consumer Goods
12.5 Electronics
12.6 Energy and Utilities
12.7 Healthcare
12.8 Industrial
12.9 IT & Telecom
12.10 Logistics
12.11 Manufacturing
12.12 Oil & Gas
12.13 Pharmaceuticals
12.14 Power Generation
12.15 Retail
12.16 Water
12.17 Others

13. Global Procurement Outsourcing Market, By Region, 2019-2032 (USD Million)

13.1 Global Procurement Outsourcing Market and Market Share by Region (2019-2025)
13.2 Global Procurement Outsourcing Market and Market Share by Region (2026-2032)
13.3 Asia-Pacific
- 13.3.1 Australia
- 13.3.2 China
- 13.3.3 India
- 13.3.4 Japan
- 13.3.5 South Korea
- 13.3.6 Rest of Asia-Pacific
13.4 Europe
- 13.4.1 France
- 13.4.2 Germany
- 13.4.3 Italy
- 13.4.4 Spain
- 13.4.5 United Kingdom
- 13.4.6 Rest of Europe
13.5 Middle East and Africa
- 13.5.1 Kingdom of Saudi Arabia
- 13.5.2 United Arab Emirates
- 13.5.3 Rest of Middle East & Africa
13.6 North America
- 13.6.1 Canada
- 13.6.2 Mexico
- 13.6.3 United States
13.7 Latin America
- 13.7.1 Argentina
- 13.7.2 Brazil
- 13.7.3 Rest of Latin America

14. Company Profiles

14.1 Accenture
- 14.1.1 Company details
- 14.1.2 Financial outlook
- 14.1.3 Product summary
- 14.1.4 Recent developments
14.2 AEGIS Company
- 14.2.1 Company details
- 14.2.2 Financial outlook
- 14.2.3 Product summary
- 14.2.4 Recent developments
14.3 Aquanima S.A.
- 14.3.1 Company details
- 14.3.2 Financial outlook
- 14.3.3 Product summary
- 14.3.4 Recent developments
14.4 Broadcom
- 14.4.1 Company details
- 14.4.2 Financial outlook
- 14.4.3 Product summary
- 14.4.4 Recent developments
14.5 Capgemini
- 14.5.1 Company details
- 14.5.2 Financial outlook
- 14.5.3 Product summary
- 14.5.4 Recent developments
14.6 Corbus, LLC
- 14.6.1 Company details
- 14.6.2 Financial outlook
- 14.6.3 Product summary
- 14.6.4 Recent developments
14.7 DXC Technology Company
- 14.7.1 Company details
- 14.7.2 Financial outlook
- 14.7.3 Product summary
- 14.7.4 Recent developments
14.8 Genpact
- 14.8.1 Company details
- 14.8.2 Financial outlook
- 14.8.3 Product summary
- 14.8.4 Recent developments
14.9 GEP
- 14.9.1 Company details
- 14.9.2 Financial outlook
- 14.9.3 Product summary
- 14.9.4 Recent developments
14.10 HCL Technologies Limited
- 14.10.1 Company details
- 14.10.2 Financial outlook
- 14.10.3 Product summary
- 14.10.4 Recent developments
14.11 IBM
- 14.11.1 Company details
- 14.11.2 Financial outlook
- 14.11.3 Product summary
- 14.11.4 Recent developments
14.12 Infosys Limited
- 14.12.1 Company details
- 14.12.2 Financial outlook
- 14.12.3 Product summary
- 14.12.4 Recent developments
14.13 Oracle
- 14.13.1 Company details
- 14.13.2 Financial outlook
- 14.13.3 Product summary
- 14.13.4 Recent developments
14.14 Proxima
- 14.14.1 Company details
- 14.14.2 Financial outlook
- 14.14.3 Product summary
- 14.14.4 Recent developments
14.15 Tata Consultancy Services Limited
- 14.15.1 Company details
- 14.15.2 Financial outlook
- 14.15.3 Product summary
- 14.15.4 Recent developments
14.16 Wipro Limited
- 14.16.1 Company details
- 14.16.2 Financial outlook
- 14.16.3 Product summary
- 14.16.4 Recent developments
14.17 WNS
- 14.17.1 Company details
- 14.17.2 Financial outlook
- 14.17.3 Product summary
- 14.17.4 Recent developments