Procurement Outsourcing Trends and Forecast
The future of the global procurement outsourcing market looks promising with opportunities in the marketing related services, IT related services, HR related services, and facilities management & office services markets. The global procurement outsourcing market is expected to reach an estimated $6.8 billion by 2030 with a CAGR of 10.4% from 2024 to 2030. The major drivers for this market are growing requirement for new IT solutions in line with current consumer trends and increased requirement to handle compliance laws and agreements and increased demand from businesses to streamline the procurement process .Procurement Outsourcing by Segment
The study includes a forecast for the global procurement outsourcing by services, component, application, end use, and region.Procurement Outsourcing Market by Services [Shipment Analysis by Value from 2018 to 2030]
- Business Process Outsourcing Services
- Consulting Services
Procurement Outsourcing Market by Component [Shipment Analysis by Value from 2018 to 2030]
- Solution
- Services
Procurement Outsourcing Market by Application [Shipment Analysis by Value from 2018 to 2030]
- Marketing Related Services
- It Related Services
- Hr Related Services
- Facilities Management & Office Services
- Others
Procurement Outsourcing Market by End Use [Shipment Analysis by Value from 2018 to 2030]
- BFSI
- Energy & Utilities
- Healthcare
- IT & Telecom
- Professional Services
- Manufacturing
- Retail
- Logistics
- Others
Procurement Outsourcing Market by Region [Shipment Analysis by Value from 2018 to 2030]
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Procurement Outsourcing Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies procurement outsourcing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the procurement outsourcing companies profiled in this report include-- International Business Machines
- Accenture
- GEP
- WNS
- Wipro
- Genpact
- Tata Consultancy Services
- Infosys
- Capgemini
- Dxc Technology Company
Procurement Outsourcing Market Insights
The publisher forecasts that business process outsourcing services will remain the larger segment over the forecast period due to efficiency improving and reduce costs.Within this market, HR related services will remain the largest segment due to strong pool of hr outsourcing service providers.
North America will remain the largest region over the forecast period due to high adoption of advanced technology.
Features of the Global Procurement Outsourcing Market
- Market Size Estimates: Procurement outsourcing market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Procurement outsourcing market size by various segments, such as by services, component, application, end use, and region in terms of value ($B).
- Regional Analysis: Procurement outsourcing market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different services, component, application, end use, and regions for the procurement outsourcing market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the procurement outsourcing market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the procurement outsourcing market size?Answer: The global procurement outsourcing market is expected to reach an estimated $6.8 billion by 2030.
Q2. What is the growth forecast for procurement outsourcing market?
Answer: The global procurement outsourcing market is expected to grow with a CAGR of 10.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the procurement outsourcing market?
Answer: The major drivers for this market are growing requirement for new IT solutions in line with current consumer trends and increased requirement to handle compliance laws and agreements and increased demand from businesses to streamline the procurement process .
Q4. What are the major segments for procurement outsourcing market?
Answer: The future of the procurement outsourcing market looks promising with opportunities in the marketing related services, IT related services, HR related services, and facilities management & office services markets.
Q5. Who are the key procurement outsourcing market companies?
Answer: Some of the key procurement outsourcing companies are as follows:
- International Business Machines
- Accenture
- GEP
- WNS
- Wipro
- Genpact
- Tata Consultancy Services
- Infosys
- Capgemini
- Dxc Technology Company
Answer: The publisher forecasts that business process outsourcing services will remain the larger segment over the forecast period due to efficiency improving and reduce costs.
Q7. In procurement outsourcing market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to high adoption of advanced technology.
Q8. Do we receive customization in this report?
Answer: Yes,the publisher provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the procurement outsourcing market by services (business process outsourcing services and consulting services), component (solution and services), application (marketing related services, IT related services, HR related services, facilities management & office services, and others), end use (BFSI, energy & utilities, healthcare, IT & telecom, professional services, manufacturing, retail, logistics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global Procurement Outsourcing Market: Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- International Business Machines
- Accenture
- GEP
- WNS
- Wipro
- Genpact
- Tata Consultancy Services
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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