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.
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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
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| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
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| 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 Segmentation:
1. By Component:
2. By Service Type:
- Business Process Outsourcing Services
- Category Management
- Consulting Services
- Procure to Pay
- Procurement Management
3. By Deployment Model:
4. By Enterprise Size:
- Large Enterprises
- Small & Medium Enterprises
5. By Application:
- Facilities Management & Office Services
- HR Related Services
- IT Related Services
- Marketing Related Services
6. By End User:
- Automotive
- BFSI
- Biotechnology
- Consumer Goods
- Electronics
7. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Procurement Outsourcing Market (FY’2019-FY’2032)
- Overview of Global Procurement Outsourcing Market
- Segmentation of Global Procurement Outsourcing Market By Component (Services, Solution)
- Segmentation of Global Procurement Outsourcing Market By Service Type (Business Process Outsourcing Services, Category Management, Consulting Services, Procure to Pay, Procurement Management, Source Management, Supplier Management)
- Segmentation of Global Procurement Outsourcing Market By Deployment Model (Cloud, On-Premises)
- Segmentation of Global Procurement Outsourcing Market By Enterprise Size (Large Enterprises, Small & Medium Enterprises)
- Segmentation of Global Procurement Outsourcing Market By Application (Facilities Management & Office Services, HR Related Services, IT Related Services, Marketing Related Services, Others)
- Segmentation of Global Procurement Outsourcing Market By End User (Automotive, BFSI, Biotechnology, Consumer Goods, Electronics, Energy and Utilities, Healthcare, Industrial, IT & Telecom, Logistics, Manufacturing, Oil & Gas, Pharmaceuticals, Power Generation, Retail, Water, Others)
- Statistical Snap of Global Procurement Outsourcing Market
- Growth Analysis of Global Procurement Outsourcing Market
- Problems and Challenges in Global Procurement Outsourcing Market
- Competitive Landscape in the Global Procurement Outsourcing Market
- Impact of COVID-19 and Demonetization on Global Procurement Outsourcing Market
- Details on Recent Investment in Global Procurement Outsourcing Market
- Competitive Analysis of Global Procurement Outsourcing Market
- Major Players in the Global Procurement Outsourcing Market
- SWOT Analysis of Global Procurement Outsourcing Market
- Global Procurement Outsourcing Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
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
15. List of Abbreviations
16. Reference Links
17. Conclusion
18. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
