ID: MRFR/ICT/6821-HCR | February 2021 | Region: Global | 111 pages
Global Procurement as a Service Market is expected to reach USD 9 Billion by 2025 at a CAGR of 8.9%.
Currently, most of the global industries rely on procurement models which bundles various services such as supply chain management, budget development, distributive management, quality control, and others into one stream. Most of today’s procurement models are implemented with fixed-cost engagements based on long-term procurement processes. This results in reduced efficiency and a concurrent loss in profitability of the enterprise, especially for large businesses as this static model is outdated in today’s dynamic economic landscape.
An increasing reliance on the e-procurement industry as well as a very dynamic economic landscape has necessitated a complete overhaul of the global procurement market. This overhaul can be applied across industry verticals and components. Now, businesses will pay for what they need and use, with unnecessary bundling of activities being eliminated.
Wal-Mart and Amazon consistently outperform SMEs and local retail outlets due to their cutting-edge global procurement services. The same methodology is being applied to all companies to enhance profits and productivity while simultaneously reducing redundancy.
Pan-industry applicability with unique solutions for all business verticals and components.
By Organization Size
Frequently Asked Questions (FAQ) :
The global market for Procurement as a Service is slated to expand at a substantial CAGR of 8.9% over the review period (2019 to 2025).
The global market for Procurement as a Service is slated to generate revenue of up to USD 9 billion by 2025.
Infosys Ltd, Accenture Plc, GEP, Genpact LLC, WNS Global, Proxima Procurement Ltd, RFCODE, Capgemini SE, IBM Corporation, HCL Technologies Ltd, WIPRO Limited, Xchanging Solutions Ltd, Tata Consultancy Services Limited, and CA Technologies.
The regional analysis of the global Procurement as a Service market has been conducted in five major regions, namely, the Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
The segmentation of the global Procurement as a Service market is done on the basis of component, organization size, and vertical.