Procurement As a Service Market, By Component (Strategic Sourcing, Spend Management, Process Management, Category Management, Contract Management, Transaction Management), By Enterprise Size (SMEs, Large Enterprises), By Vertical (Manufacturing, Retail, I
Procurement As a Service Market, By Component (Strategic Sourcing, Spend Management, Process Management, Category Management, Contract Management, Transaction Management), By Enterprise Size (SMEs, Large Enterprises), By Vertical (Manufacturing, Retail, IT & Telecom, BFSI, Healthcare, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)
Procurement as a service (PaaS) is an outsourced service wherein procurement activities are handled by third-party service providers. PaaS helps companies focus on their core business operations by outsourcing procurement functions. It allows organizations to leverage expertise of procurement service providers to achieve efficiency, reduce costs, manage supply chain complexity and ensure compliance. Key benefits of PaaS include access to category management expertise, improved compliance with regulatory guidelines, centralized spend management and analytics-driven decision-making. With growing focus on optimizing costs and streamlining operational processes, the adoption of procurement as a service solution is projected to rise significantly over the coming years.
Market Dynamics:
The global procurement as a service market is driven by the need for spend optimization and cost reduction among organizations. Outsourcing procurement processes helps lower operating costs by increasing process efficiency and rationalizing supplier base. Rising complexities in supply chain management also necessitate adopting PaaS solutions to better manage inventory, transportation and supplier relationships. Growing emphasis on compliance and regulatory mandates forces companies to have centralized oversight of procurement activities, fostering market opportunities. However, reluctance to lose control over critical business functions and data security concerns impede the complete adoption of PaaS. Market players need to offer customizable solutions with robust security features. Focusing on specific industry capabilities will help cater to emerging opportunities.
Key features of the study:
This report provides in-depth analysis of the global procurement as a service market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global procurement as a service market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Accenture plc, Aegis One Consults Ltd, CA Technologies, Capgemini, Corbus India LLP, F-code, GEP, Genpact, HCL Technologies Limited, IBM Corporation, Infosys Limited, Proxima Group, Simfoni Limited, Tata Consultancy Services (TCS), Wipro.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
Global procurement as a service market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global procurement as a service market.
Detailed Segmentation:
By Component
Strategic Sourcing
Spend Management
Process Management
Category Management
Contract Management
Transaction Management
By Enterprise Size
SMEs
Large Enterprises
By Vertical
Manufacturing
Retail
IT & Telecom
BFSI
Healthcare
Others
By Regional
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players Insights
Accenture plc
Aegis One Consults Ltd
CA Technologies
Capgemini
Corbus India LLP
F-code
GEP
Genpact
HCL Technologies Limited
IBM Corporation
Infosys Limited
Proxima Group
Simfoni Limited
Tata Consultancy Services (TCS)
Wipro
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Component
Market Snippet, By Enterprise Size
Market Snippet, By Vertical
Market Snippet, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic
4. Global Procurement As a Service Market, By Component, 2019-2031, (US$ Bn)
Introduction
Market Share Analysis, 2024 and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
Segment Trends
Strategic Sourcing
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Spend Management
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Process Management
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Category Management
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Contract Management
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Transaction Management
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
5. Global Procurement As a Service Market, By Enterprise Size, 2019-2031, (US$ Bn)
Introduction
Market Share Analysis, 2024 and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
Segment Trends
SMEs
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Large Enterprises
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
6. Global Procurement As a Service Market, By Vertical, 2019-2031, (US$ Bn)
Introduction
Market Share Analysis, 2024 and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
Segment Trends
Manufacturing
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Retail
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
IT & Telecom
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
BFSI
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Healthcare
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
Others
Introduction
Market Size and Forecast, 2019–2031, (US$ Bn)
7. Global Procurement As a Service Market, By Region, 2019-2031, (US$ Bn)
Introduction
Market Share Analysis, By Region, 2024 and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
North America
Regional Trends
Market Size and Forecast, By Component, 2019–2031, (US$ Bn)
Market Size and Forecast, By Enterprise Size, 2019–2031, (US$ Bn)
Market Size and Forecast, By Vertical, 2019–2031, (US$ Bn)
Market Size and Forecast, By Country, 2019–2031, (US$ Bn)
U.S.
Canada
Europe
Regional Trends
Market Size and Forecast, By Component, 2019–2031, (US$ Bn)
Market Size and Forecast, By Enterprise Size, 2019–2031, (US$ Bn)
Market Size and Forecast, By Vertical, 2019–2031, (US$ Bn)
Market Size and Forecast, By Country, 2019–2031, (US$ Bn)
U.K.
Spain
Italy
Germany
France
Russia
Rest of Europe
Asia Pacific
Regional Trends
Market Size and Forecast, By Component, 2019–2031, (US$ Bn)
Market Size and Forecast, By Enterprise Size, 2019–2031, (US$ Bn)
Market Size and Forecast, By Vertical, 2019–2031, (US$ Bn)
Market Size and Forecast, By Country, 2019–2031, (US$ Bn)
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Latin America
Regional Trends
Market Size and Forecast, By Component, 2019–2031, (US$ Bn)
Market Size and Forecast, By Enterprise Size, 2019–2031, (US$ Bn)
Market Size and Forecast, By Vertical, 2019–2031, (US$ Bn)
Market Size and Forecast, By Country, 2019–2031, (US$ Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East & Africa
Regional Trends
Market Size and Forecast, By Component, 2019–2031, (US$ Bn)
Market Size and Forecast, By Enterprise Size, 2019–2031, (US$ Bn)
Market Size and Forecast, By Vertical, 2019–2031, (US$ Bn)
Market Size and Forecast, By Country, 2019–2031, (US$ Bn)
South Africa
Israel
GCC Countries
Rest of the Middle East & Africa
8. Competitive Landscape
Company Profiles
Accenture plc
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Aegis One Consults Ltd
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
CA Technologies
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Capgemini
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Corbus India LLP
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
F-code
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
GEP
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Genpact
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
HCL Technologies Limited
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
IBM Corporation
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Infosys Limited
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Proxima Group
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Simfoni Limited
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Tata Consultancy Services (TCS)
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
Wipro
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
9. Analyst Recommendations
Wheel of Fortune
Analyst View
Coherent Opportunity Map
10. Research Methodology
References
Research Methodology
About us and Sales Contact
*Browse 60 market data tables and 40 figures on Procurement As a Service Market - Global forecast to 2031”