Procurement as a Service Market Research Report - Global Forecast till 2027

Global Procurement as a Service Market Research Report: By Component (Strategic Sourcing, Spend Management, Category Management, Process Management, Transaction Management), By Organization Size (Large Enterprises, SMEs) and By Vertical (BFSI, Government & Defense, IT & Telecom, Healthcare, Retail, Manufacturing, Others) – Forecast to 2027

ID: MRFR/ICT/6821-HCR | February, 2021 | Region : Global

Market Forecast


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and a concurrent loss in profitability of the enterprise, especially for large businesses as this static model is outdated in today’s dynamic economic landscape.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.


Market USP


Pan-industry applicability with unique solutions for all business verticals and components.


Segmentation


By Component



  • Strategic Sourcing: The largest market in this segment, efficient strategic sourcing benefits all industries, particularly SMEs.

  • Spend Management: The fastest-growing segment. Mid-sized and large-scale enterprises can enhance profitably by doing away with redundant and inefficient spending. This is driving this segment.

  • Category Management: Extremely beneficial to the retailing industry, category management is crucial for the efficient development of retailers, especially e-based retailers.

  • Process Management: Process management becomes critical in direct proportion to the size of the enterprise. Realigning core products and services offered by a business is essential in the dynamic market of today.

  • Transaction Management: A very important segment considering that virtually the entire business community places huge reliance on IT and this segment organizes the IT from a business perspective.


By Organization Size



  • Large Enterprises: The largest segment due to the sheer size of large-scale businesses and the amount of overhaul that procurement services can provide for them.

  • SMEs: the fastest-growing segment, SMEs stand to benefit due to the procurement service’s unique solutions offered for each individual enterprise.


By Vertical



  • BFSI: This segment benefits hugely from the implementation of transactions management and strategic sourcing.

  • Government & Defense: Government and defense can be considered as huge enterprises, and consequently, they will benefit hugely from optimal process and spending management. Budget development is another key area.

  • IT & Telecom: dynamic industry, IT & telecom stand to benefit from the flexibility that efficient procurement services can afford them. A very large market segment.

  • Healthcare: Healthcare and pharmaceuticals enhance their profitability with efficient category and spend management.

  • Retail: The second-largest market share in this segment, the retail sector benefits from category and spend management.

  • Manufacturing: The largest segment due to the intrinsic industry requirement to have a very dynamic spend and category management system. Manufacturers of multiple products also benefit from updated strategic sourcing.

  • Energy & Utilities: Strategic sourcing and budgeting are areas where procurement services can aid this sector.

  • Travel & Hospitality: This segment relies on excellent competitive analysis.

  • Others: Virtually all enterprises can benefit from an efficient and unique procurement service.


By Region



  • North America: The largest regional market due to a very well-developed IT sector.

  • Europe: The second-largest market due to the percolation of procurement services through all industry verticals and enterprises of all sizes.

  • Asia-Pacific: The fastest emerging market due to rapid economic development.

  • Rest of the World: A small market segment, replete with islands of aggressive growth, especially in Latin America and the Middle East.


Key Players



  • Accenture Plc

  • Infosys Ltd

  • GEP

  • Genpact LLC

  • Proxima Procurement Ltd

  • RFCODE

  • WNS Global

  • Capgemini SE

  • IBM Corporation

  • WIPRO Limited

  • HCL Technologies Ltd

  • Tata Consultancy Services Limited

  • Xchanging Solutions Ltd

  • CA Technologies

Table of Contents

1. Executive Summary

2. Scope of the Report

2.1. Market Definition

2.2. Scope of the Study

2.2.1. Research Objectives

2.2.2. Assumptions & Limitations

2.3. Market Structure

3. Market Research Methodology

3.1. Research Process

3.2. Secondary Research

3.3. Primary Research

3.4. Forecast Model

4. Market L&scape

4.1. Porter’s Five Forces Analysis

4.1.1. Threat of New Entrants

4.1.2. Bargaining Power of Buyers

4.1.3. Threat of Substitutes

4.1.4. Intensity of Rivalry

4.1.5. Bargaining Power of Suppliers

4.2. Value Chain/Supply Chain of the Global Procurement as a Service Market

5. Market Overview of the Global Procurement as a Service Market

5.1. Introduction

5.2. Growth Drivers

5.3. Impact Analysis

5.4. Market Challenges

6. Market Trends

6.1. Introduction

6.2. Growth Trends

6.3. Impact analysis

7. Global Procurement as a Service Market, by Component

7.1. Introduction

7.2. Strategic Sourcing

7.2.1. Market Estimates & Forecast, 2020–2027

7.2.2. Market Estimates & Forecast, by Region, 2020–2027

7.3. Spend Management

7.3.1. Market Estimates & Forecast, 2020–2027

7.3.2. Market Estimates & Forecast, by Region, 2020–2027

7.4. Category Management

7.4.1. Market Estimates & Forecast, 2020–2027

7.4.2. Market Estimates & Forecast, by Region, 2020–2027

7.5. Process Management

7.5.1. Market Estimates & Forecast, 2020–2027

7.5.2. Market Estimates & Forecast, by Region, 2020–2027

7.6. Transactions Management

7.6.1. Market Estimates & Forecast, 2020–2027

7.6.2. Market Estimates & Forecast, by Region, 2020–2027

7.6.3.

8. Global Procurement as a Service Market, by Organization Size

8.1. Introduction

8.2. Large Enterprise

8.2.1. Market Estimates & Forecast, 2020–2027

8.2.2. Market Estimates & Forecast, by Region, 2020–2027

8.3. SMEs

8.3.1. Market Estimates & Forecast, 2020–2027

8.3.2. Market Estimates & Forecast, by Region, 2020–2027

9. Global Procurement as a Service Market, by Vertical

9.1. Introduction

9.2. BFSI

9.2.1. Market Estimates & Forecast, 2020–2027

9.2.2. Market Estimates & Forecast, by Region, 2020–2027

9.3. Government & Defense

9.3.1. Market Estimates & Forecast, 2020–2027

9.3.2. Market Estimates & Forecast, by Region, 2020–2027

9.4. IT & Telecom

9.4.1. Market Estimates & Forecast, 2020–2027

9.4.2. Market Estimates & Forecast, by Region, 2020–2027

9.5. Healthcare

9.5.1. Market Estimates & Forecast, 2020–2027

9.5.2. Market Estimates & Forecast, by Region, 2020–2027

9.6. Retail

9.6.1. Market Estimates & Forecast, 2020–2027

9.6.2. Market Estimates & Forecast, by Region, 2020–2027

9.7. Manufacturing

9.7.1. Market Estimates & Forecast, 2020–2027

9.7.2. Market Estimates & Forecast, by Region, 2020–2027

9.8. Energy & Utilities

9.8.1. Market Estimates & Forecast, 2020–2027

9.8.2. Market Estimates & Forecast, by Region, 2020–2027

9.9. Travel & Hospitality

9.9.1. Market Estimates & Forecast, 2020–2027

9.9.2. Market Estimates & Forecast, by Region, 2020–2027

9.10. Others

9.10.1. Market Estimates & Forecast, 2020–2027

9.10.2. Market Estimates & Forecast, by Region, 2020–2027

10. Global Procurement as a Service Market, by Region

10.1. Introduction

10.2. North America

10.2.1. Market Estimates & Forecast, by Country, 2020–2027

10.2.2. Market Estimates & Forecast, by Component, 2020–2027

10.2.3. Market Estimates & Forecast, by Organization Size, 2020–2027

10.2.4. Market Estimates & Forecast, by Vertical 2020–2027

10.2.5. US

10.2.5.1. Market Estimates & Forecast, by Component, 2020–2027

10.2.5.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.2.5.3. Market Estimates & Forecast, by Vertical 2020–2027

10.2.6. Canada

10.2.6.1. Market Estimates & Forecast, by Component, 2020–2027

10.2.6.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.2.6.3. Market Estimates & Forecast, by Vertical 2020–2027

10.2.7. Mexico

10.2.7.1. Market Estimates & Forecast, by Component, 2020–2027

10.2.7.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.2.7.3. Market Estimates & Forecast, by Vertical 2020–2027

10.3. Europe

10.3.1. Market Estimates & Forecast, by Country, 2020–2027

10.3.2. Market Estimates & Forecast, by Component, 2020–2027

10.3.3. Market Estimates & Forecast, by Organization Size, 2020–2027

10.3.4. Market Estimates & Forecast, by Vertical 2020–2027

10.3.5. UK

10.3.5.1. Market Estimates & Forecast, by Component, 2020–2027

10.3.5.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.3.5.3. Market Estimates & Forecast, by Vertical 2020–2027

10.3.6. Germany

10.3.6.1. Market Estimates & Forecast, by Component, 2020–2027

10.3.6.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.3.6.3. Market Estimates & Forecast, by Vertical 2020–2027

10.3.7. France

10.3.7.1. Market Estimates & Forecast, by Component, 2020–2027

10.3.7.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.3.7.3. Market Estimates & Forecast, by Vertical 2020–2027

10.3.8. UK

10.3.8.1. Market Estimates & Forecast, by Component, 2020–2027

10.3.8.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.3.8.3. Market Estimates & Forecast, by Vertical 2020–2027

10.3.9. Italy

10.3.9.1. Market Estimates & Forecast, by Component, 2020–2027

10.3.9.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.3.9.3. Market Estimates & Forecast, by Vertical 2020–2027

10.3.10. Rest of Europe

10.3.10.1. Market Estimates & Forecast, by Component, 2020–2027

10.3.10.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.3.10.3. Market Estimates & Forecast, by Vertical 2020–2027

10.4. Asia-Pacific

10.4.1. Market Estimates & Forecast, by Country, 2020–2027

10.4.2. Market Estimates & Forecast, by Component, 2020–2027

10.4.3. Market Estimates & Forecast, by Organization Size, 2020–2027

10.4.4. Market Estimates & Forecast, by Vertical 2020–2027

10.4.5. China

10.4.5.1. Market Estimates & Forecast, by Component, 2020–2027

10.4.5.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.4.5.3. Market Estimates & Forecast, by Vertical 2020–2027

10.4.6. Japan

10.4.6.1. Market Estimates & Forecast, by Component, 2020–2027

10.4.6.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.4.6.3. Market Estimates & Forecast, by Vertical 2020–2027

10.4.7. India

10.4.7.1. Market Estimates & Forecast, by Component, 2020–2027

10.4.7.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.4.7.3. Market Estimates & Forecast, by Vertical 2020–2027

10.4.8. Singapore

10.4.8.1. Market Estimates & Forecast, by Component, 2020–2027

10.4.8.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.4.8.3. Market Estimates & Forecast, by Vertical 2020–2027

10.4.9. Rest of Asia-Pacific

10.4.9.1. Market Estimates & Forecast, by Component, 2020–2027

10.4.9.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.4.9.3. Market Estimates & Forecast, by Vertical 2020–2027

10.5. Rest of the World

10.5.1. Market Estimates & Forecast, by, Country, 2020–2027

10.5.2. Market Estimates & Forecast, by Component, 2020–2027

10.5.3. Market Estimates & Forecast, by Organization Size, 2020–2027

10.5.4. Market Estimates & Forecast, by Vertical 2020–2027

10.5.5. Middle East & Africa

10.5.5.1. Market Estimates & Forecast, by Component, 2020–2027

10.5.5.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.5.5.3. Market Estimates & Forecast, by Vertical 2020–2027

10.5.6. South America

10.5.6.1. Market Estimates & Forecast, by Component, 2020–2027

10.5.6.2. Market Estimates & Forecast, by Organization Size, 2020–2027

10.5.6.3. Market Estimates & Forecast, by Vertical 2020–2027

11. Company Profiles

11.1. Accenture Plc

11.1.1. Company Overview

11.1.2. Product/Business Segment Overview

11.1.3. Financial Updates

11.1.4. Key Developments

11.1.5. SWOT Analysis

11.1.6. Key Strategies

11.2. Infosys Limited

11.2.1. Company Overview

11.2.2. Product/Business Segment Overview

11.2.3. Financial Updates

11.2.4. Key Developments

11.2.5. SWOT Analysis

11.2.6. Key Strategies

11.3. GEP

11.3.1. Company Overview

11.3.2. Product/Business Segment Overview

11.3.3. Financial Updates

11.3.4. Key Developments

11.3.5. SWOT Analysis

11.3.6. Key Strategies

11.4. Genpact LLC

11.4.1. Company Overview

11.4.2. Product/Business Segment Overview

11.4.3. Financial Updates

11.4.4. Key Developments

11.4.5. SWOT Analysis

11.4.6. Key Strategies

11.5. Proxima Procurement Ltd

11.5.1. Company Overview

11.5.2. Product/Business Segment Overview

11.5.3. Financial Updates

11.5.4. Key Developments

11.5.5. SWOT Analysis

11.5.6. Key Strategies

11.6. RFCODE

11.6.1. Company Overview

11.6.2. Product/Business Segment Overview

11.6.3. Financial Updates

11.6.4. Key Developments

11.6.5. SWOT Analysis

11.6.6. Key Strategies

11.7. WNS Global

11.7.1. Company Overview

11.7.2. Product/Business Segment Overview

11.7.3. Financial Updates

11.7.4. Key Developments

11.7.5. SWOT Analysis

11.7.6. Key Strategies

11.8. Capgemini SE

11.8.1. Company Overview

11.8.2. Product/Business Segment Overview

11.8.3. Financial Updates

11.8.4. Key Developments

11.8.5. SWOT Analysis

11.8.6. Key Strategies

11.9. IBM Corporation

11.9.1. Company Overview

11.9.2. Product/Business Segment Overview

11.9.3. Financial Updates

11.9.4. Key Developments

11.9.5. SWOT Analysis

11.9.6. Key Strategies

11.10. Wipro Limited

11.10.1. Company Overview

11.10.2. Product/Business Segment Overview

11.10.3. Financial Updates

11.10.4. Key Developments

11.10.5. SWOT Analysis

11.10.6. Key Strategies

11.11. HCL Technologies Limited

11.11.1. Company Overview

11.11.2. Product/Business Segment Overview

11.11.3. Financial Updates

11.11.4. Key Developments

11.11.5. SWOT Analysis

11.11.6. Key Strategies

11.12. Tata Consultancy Services Limited

11.12.1. Company Overview

11.12.2. Product/Business Segment Overview

11.12.3. Financial Updates

11.12.4. Key Developments

11.12.5. SWOT Analysis

11.12.6. Key Strategies

11.13. Xchanging Solutions Ltd

11.13.1. Company Overview

11.13.2. Product/Business Segment Overview

11.13.3. Financial Updates

11.13.4. Key Developments

11.13.5. SWOT Analysis

11.13.6. Key Strategies

11.14. CA Technologies

11.14.1. Company Overview

11.14.2. Product/Business Segment Overview

11.14.3. Financial Updates

11.14.4. Key Developments

11.14.5. SWOT Analysis

11.14.6. Key Strategies

12. Conclusion


LIST OF TABLES

Table1 Global Procurement as a Service Market, by Country, 2020-2027

Table2 North America: Procurement as a Service Market, by Country, 2020–2027

Table3 Europe: Procurement as a Service Market, by Country, 2020–2027

Table4 Asia-Pacific: Procurement as a Service Market, by Country, 2020–2027

Table5 Latin America: Procurement as a Service Market, by Country, 2020–2027

Table6 North America: Procurement as a Service Market, by Country

Table7 North America: Procurement as a Service Market, by Component

Table8 North America: Procurement as a Service Market, by Organization Size

Table9 North America: Procurement as a Service Market, by Vertical

Table10 Europe: Procurement as a Service Market, by Country

Table11 Europe: Procurement as a Service Market, by Component

Table12 Europe: Procurement as a Service Market, by Organization Size

Table13 Europe: Procurement as a Service Market, by Vertical

Table14 Asia-Pacific: Procurement as a Service Market, by Country

Table15 Asia-Pacific Procurement as a Service Market, by Component

Table16 Asia-Pacific Procurement as a Service Market, by Organization Size

Table17 Asia-Pacific Procurement as a Service Market, by Vertical

Table18 Middle East & Africa: Procurement as a Service Market, by Country

Table19 Middle East & Africa: Procurement as a Service Market, by Component

Table20 Middle East & Africa: Procurement as a Service Market, by Organization Size

Table21 Middle East & Africa: Procurement as a Service Market, by Vertical

Table22 Latin America: Procurement as a Service Market, by Country

Table23 Latin America: Procurement as a Service Market, by Component

Table24 Latin America: Procurement as a Service Market, by Organization Size

Table25 Latin America: Procurement as a Service Market, by Vertical


LIST OF FIGURES

Figure 1 Global Procurement as a Service Market Segmentation

Figure 2 Forecast Methodology

Figure 3 Porter’s Five Forces Analysis of the Global Procurement as a Service Market

Figure 4 Value Chain of the Global Procurement as a Service Market

Figure 5 Share of the Global Procurement as a Service Market in 2020, by Country (in %)

Figure 6 Global Procurement as a Service Market, 2020–2027

Figure 7 Share of the Global Procurement as a Service Market, by Industry, 2020–2027

Figure 8 Global Procurement as a Service Market Size, by Component, 2020

Figure 9 Share of the Global Procurement as a Service Market, by Component, 2020–2027

Figure 10 Global Procurement as a Service Market Size, by Organization Size, 2020

Figure 11 Share of the Global Procurement as a Service Market, by Organization Size, 2020–2027

Figure 12 Global Procurement as a Service Market Size, by Vertical, 2020

Figure 13 Share of the Global Procurement as a Service Market, by Vertical, 2020–2027

Procurement Service Market