Category Spend Intelligence
This new procurement report, which is an integral part of Technavio’s category spend intelligence portfolio, analyzes the growth prospects for global translation and localization services for the next four years and provides insights into how they can derive benefits from the current market scenario. It also follows a triangulated research approach of primary and secondary research to assist procurement heads and category managers through webinars and analyzing internal databases.
Translation services involve the conversion of content from one language to another. The different types include sign language services for the hearing impaired, paper-based document or digital documentation translation, and software and website translation. Localization involves adaptation of products for new markets to meet national or regional preferences and ensure their successful adoption. It also includes the use of local, cultural, and linguistic traits along with different keyword trends as tools for product sales and marketing.
Our comprehensive data collection process follows a scrupulous approach of stakeholder insights, information review, data analysis, and information validation to offer suppliers a holistic overview of the future market landscape.
Inside the report
A must-read market intelligence report for all procurement and supply chain professionals looking to drive higher value from the use of
Category overview of in-store promotions market
Extensive procurement analysis carried out by the team of specialists at Technavio has shown that the procurement managers choose to partner with suppliers who have proficiency in the retail domain, and can create highly innovative in-store promotion strategies. This procurement market intelligence report also reveals that the global in-store promotions supply market is moving from customized offerings to proprietary solutions as there is an increase in the number of patents and trademarks. An intricate study of the demand-supply shifts in this market indicates that the there is increased demand for effective promotional campaigns that address all elements such as promotional forecasting, cannibalization effects, and halo effects. Retailers and consumer packaged goods (CPG) manufacturers are the ssmajor end-users of in-store promotions and increasingly depend on creative campaigns to increase volume sales, enhance brand awareness, and better customer engagements. On the other hand, the global in-store promotions supply market comprises of full-service agencies that offer in-store promotions among a broad portfolio of marketing services making it beneficial for buyers who are looking for omnichannel marketing campaigns to deliver consistent content across all channels
Category overview of risk management service market
This procurement market intelligence report, which is an essential part of Technavio’s category spend intelligence portfolio, reveals that the category managers engage with technology-based solution providers who are capable of innovating with new tools to identify and mitigate the risks. Extensive analysis of the demand-supply shifts in this market shows that there is an increased global demand for risk management services owing to a significant growth in industries such as health care and banking services, especially in the BRICS nations. The suppliers in the risk management services industry focus on catering to changing requirements when there are sudden changes in regulations and legislation related to their industry are adopting technologies such as analytics and risk management software (RMS) as these tools help the buyers to monitor and identify financial risks faced by companies easily.
To procure the best risk management services, buyers should engage with suppliers who offer risk scoring methodology, an algorithm for evaluating a vendor and ranking them on a scale of 1 to 1,000 where higher numbers denote higher risk as this practice can easily quantify threats and deficiency associated with vendors. A key procurement strategy followed by procurement managers in this market space is the selection of risk management service providers who continually keep
Category overview for order fulfillment services
This procurement market intelligence report reveals that the category managers prefer to partner with service providers who provide consistent communication to customers such as picking, packing, and dispatching. This report also highlights the fact that the global order fulfillment services market is highly fragmented where most firms offer the same type of services, which has led to a competitive market scenario with the top 10 order fulfillment suppliers accounting for less than one-fifth of the total market share. Extensive analysis of the demand-supply shifts in the order fulfillment services market shows that the global demand for order fulfillment services is primarily driven by growing opportunities in emerging markets. It is also observed that most large players are serving multiple clients across different industry verticals while the small suppliers are increasingly investing in technologies to counter the growing capabilities of large order fulfillment firms.
While analyzing the procurement best practices for category heads, it is witnessed that the buyers should adopt organized procurement practices that allow them to gain a firm control over their suppliers, irrespective of the prevalent market forces to be able to attain better management of expenses and quality of service delivery. A prominent procurement strategy followed by the buyers in the global order fulfillment services market is a selection of those suppliers who have adopted integrated
Category overview for smart building technologies market
Extensive procurement analysis carried out by the team of specialists at Technavio has shown that the category managers choose to partner with suppliers who can offer optimal solutions to improve building performance and reduce energy and operating expenses. According to this procurement market intelligence report, the global smart building technologies market is immensely fragmented with suppliers competing by introducing new technologies. However, there is an increased demand from residential buildings compared with commercial buildings during the forecasted period. An intricate study of the demand-supply shifts in this market indicates that the growing need to reduce the overall energy costs is increasing the demand for smart building technologies. On the other end of the spectrum, suppliers are getting involved in various (merger and acquisition) M&A activities and heavily investing in research and development (R&D) to develop new technologies and products that can accurately identify the inputs and provide data for analyzing various processes and avoid energy wastage in buildings.
Category overview for energy auditing services
This procurement market intelligence report on the global energy services market brings to light the fact that the category managers choose to partner with service providers who have a specifically tailored set of recommendations for their energy management needs. This market intelligence report also reveals that the buyers in the energy auditing services industry prefer analyzing the industry experience, variety of audits, and relevant certifications to evaluate the service provider that best fits their requirements. Energy auditing service providers differentiate themselves through their report and recommendations while each buyer has a unique set of solutions. Extensive analysis of the demand-supply shifts by our team of procurement intelligence analysts exhibits the fact that the global demand for energy auditing services is increasing due to the significant growth in the share of energy spending, which is a major contributor to organizations, especially industrial companies. On the other hand, the suppliers conduct detailed site inspections and provide reports that include a cost-benefit analysis with energy and cost saving opportunities for the buyers.
A detailed observation of the procurement best practices for category managers indicates that the buyers prefer to partner with service providers after evaluating them on parameters such as accountability, transparency, quality of the report, the openness of communication channels, and relevant industry certifications of their consultants. A prominent procurement practice followed by the procurement managers in the energy auditing services market is ensuring that the