Global Procurement Outsourcing Services Market – Industry Trends and Forecast to 2028

  • ICT
  • Upcoming Report
  • Jun 2021
  • Global
  • 350 Pages
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Global Procurement Outsourcing Services Market, By Service Type (Business Process Outsourcing Services, Consulting Services), End User (Banking, Financial Services, and Insurance (BFSI), Energy and Utilities, Healthcare, IT and Telecom, Professional Services, Manufacturing, Retail, Logistics, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.

Procurement Outsourcing Services Market Market Analysis and Insights : Global Procurement Outsourcing Services Market     

Procurement outsourcing services market size is valued at USD 10,508.5 billion by 2028 is expected to grow at a compound annual growth rate of 14.25% in the forecast period of 2021 to 2028. Data Bridge Market Research report on procurement outsourcing services provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.

Procurement outsourcing services is a procedure in which a company keeps an external service provider to supervise their purchase transactions and expenses. These services also help the companies lessen operational costs, improve savings on investments and progress businesses. Procurement outsourcing services also helps to allot important resources to work on strategic initiatives and managing important business activities. 

The increase in the need to adopt new IT solutions with modern consumer trends across the world is expected to influence the growth of procurement outsourcing services market over the forecast period of 2021 to 2028. Also the high demand from enterprises to streamline the procurement process and rise in the need to handle compliance policies and contracts are also anticipated to flourish the growth of the procurement outsourcing services market. Furthermore, the necessity to stick to the guidelines and ensure conformity is also likely to positively impact the growth of the market. Moreover, the rise in the need to drive efficiencies and effectiveness in the supply chain and the power external sourcing expertise and technology are also expected create a huge demand for procurement outsourcing services as well as lifting the growth of the procurement outsourcing services market.

However, the high risk related with outsourcing and various complexity associated with the category management are expected to act as the major limitations for the growth of procurement outsourcing services in the above mentioned forecasted period, whereas the data privacy and integrity can challenge the procurement outsourcing services market growth in the forecast period of 2021 to 2028.

Likewise, the rapid technological advancements, rise in demand for procurement outsourcing services from the manufacturing and financial sectors and high adoption of AI and big data technologies are expected to create various new opportunities that will lead to the growth of the procurement outsourcing services market in the above mentioned forecasted period.

This procurement outsourcing services market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on procurement outsourcing services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Procurement Outsourcing Services Market Scope and Market Size

Procurement outsourcing services market is segmented on the basis of service type and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

  • Procurement outsourcing services market is segmented on the basis of service type into business process outsourcing services and consulting services. Business process outsourcing services have further been segmented into category management, source management, procurement management, supplier management and procure to pay.
  • The end user segment of the procurement outsourcing services market is segmented into banking, financial services, and insurance (BFSI), energy and utilities, healthcare, IT and telecom, professional services, manufacturing, retail, logistics and others. Energy and utilities have further been segmented into oil and gas, power generation and water. Healthcare has further been segmented into pharmaceuticals and biotechnology. Manufacturing has further been segmented into automotive, consumer goods, industrial and electronics. Others have further been segmented into defense and paper and pulp.

Procurement Outsourcing Services Market Country Level Analysis

Procurement outsourcing services market is analyzed and market size, volume information is provided by country, service type and end user as referenced above.

The countries covered in the procurement outsourcing services market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).

North America leads the procurement outsourcing services market because of the presence of the large base of customers using these services. Asia-Pacific is expected to expand at a significant growth rate of over the forecast period of 2021 to 2028 owing to high adoption in the manufacturing vertical as well as the high growth in the industrial sector and rapid technological advancements.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Procurement Outsourcing Services Market Share Analysis

Procurement outsourcing services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to procurement outsourcing services market.

The major players covered in the procurement outsourcing services market report are Accenture, Aegis One Consults Ltd., Alorica, Capita plc, Concentrix Corporation, Conduent, Inc., Genpact, Hexaware Technologies Limited, Tata Consultancy Services Limited, Teleperformance, Wipro Limited, TTEC, Corbus, LLC, Infosys Limited, IBM, WNS (Holdings) Ltd., Capgemini, HCL Technologies Limited, Outsourcing Procurement Ltd., and GEP among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Customization Available : Global Procurement Outsourcing Services Market

Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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