Procurement Outsourcing Market by and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 120
  • SKU: IRTNTR70731
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 Procurement Outsourcing Market - 2021-2025

The procurement outsourcing market size is expected to reach a value of USD 5.03 billion, at a CAGR of 15.53% during 2021-2025. This research study helps in a deep understanding of the underlying forces driving the market growth and current and potential target customers across segmentations. According to our comprehensive survey, factors such as the need to adhere to regulatory guidelines and ensure compliance is projected to significantly support market growth during the forecast period. View our sample report for insights on the latest trends and challenges that will have a far-reaching effect on the market growth.

Procurement Outsourcing Market Size

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Procurement Outsourcing Market Segments

Navigate through market segmentation by geography (North America, Europe, APAC, South America, and MEA), end-user (BFSI, manufacturing, retail, IT and telecom, and others), and industry type (large enterprises and SMEs) in this procurement outsourcing market report to pursue growth opportunities.

Get actionable insights on the procurement outsourcing market segments to generate successful ROIs and focus your business strategy efforts where they are most likely to be effective. Also, our market research experts have evaluated the impact of COVID-19 across market segments for our clients to understand the long-term business implications and foresee opportunities for subsequent recovery. Want a thorough qualitative and quantitative analysis on the post-pandemic procurement outsourcing market predictions on-demand changes for 2021-2025? You can buy the report now with one easy click.

Procurement Outsourcing Market Vendors and Competitive Analysis

The procurement outsourcing market is fragmented and the vendors are deploying organic and inorganic growth strategies to gain a competitive advantage. Find out about other well-thought-out business planning approaches of key players from our sample report.

The unprecedented outbreak of COVID-19 last year impacted market segments that has had a ripple effect on various stakeholders. To make the most of the opportunities and recover from post COVID-19 impact, the market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Click here to get COVID-19 impact update.

Buy the full procurement outsourcing market forecast report for detailed insights on complete key vendor profiles. The profiles include information on the production, sustainability, prospects of the leading companies, and other crucial vendor landscape analysis.

Procurement Outsourcing Market Vendors

Procurement Outsourcing Market - Region Opportunities 2021-2025

43% of the procurement outsourcing market growth will originate from North America during the forecast period. The US and Canada are the key markets for the procurement outsourcing market in North America. To unlock exclusive information on potential business locations and understand the demographics of current and prospective customers buy the report now!

Procurement Outsourcing Market Share by Geography

North America has been exhibiting a significant growth rate for procurement outsourcing market vendors. Factors such as the strong presence and penetration of top vendors are accelerating the procurement outsourcing market growth in North America. To view our in-depth analytical review on the micro and macroeconomic factors impacting businesses in the regions click here.

The procurement outsourcing market share growth in North America will be slower than the growth of the market in APAC and South America. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

Procurement Outsourcing Market Insights by End-user

Procurement Outsourcing Market Share by Geography

To gain further insights on the market contribution of various segments Request for a FREE Sample!

The procurement outsourcing market share growth by the BFSI segment will be significant during the forecast period. The BFSI segment includes banking, insurance, accounting, and all other financial institutions. The rise in the digitization of core processes and the generation of a considerable amount of data across the sector are the primary factors driving the growth of the BFSI market segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the procurement outsourcing market size.

From the procurement outsourcing market segmentation insights, players can achieve maximum market response by understanding the target consumers. The analytical data on the segmentation will allow vendors to position their services and products among the right audiences and gain significant exposure and growth. Also, get updated actionable market insights on post COVID-19 impact on each segment.

Procurement Outsourcing Market Drivers & Trends

While it is crucial to have a solid understanding of the drivers and trends, it is also imperative that the market challenges are recognized to improvize business planning and sustain market competition. One of the key factors impeding procurement outsourcing market growth is the increased gap between growing client needs and organization capability. Purchase our express report to get exhaustive insights on other industry trends, drivers, and challenges, which will help companies evaluate and develop growth strategies.

Regulatory compliances are increasingly being implemented across industries. Therefore, industries are adopting procurement outsourcing services to improve operational efficiencies and help businesses in aligning their processes better. The services facilitate end-users to focus on Internet and mobile banking strategies, enhancement of customer experience for competitive differentiation, and the creation of new business opportunities within reach of the unbanked population. Companies must follow the guidelines of regulatory bodies while securing their confidential data using the network security process. Regulatory bodies also make it compulsory for organizations to keep a record of the log data from digital devices and other sources for auditing purposes. Therefore, most organizations are adopting procurement outsourcing services. This will drive the procurement outsourcing market growth in 2021-2025.

This procurement outsourcing market analysis report provides detailed information on key trends, drivers, and challenges that is the essence of business planning and strengthening marketing strategies across regions and segmentations.

 

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Procurement Outsourcing Market Report Outlook

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive procurement outsourcing market growth during the next five years
  • Precise estimation of the procurement outsourcing market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the procurement outsourcing market across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of procurement outsourcing market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The procurement outsourcing market growth will increase by $5031.86 million during 2020-2025.
The procurement outsourcing market is expected to grow at a CAGR of 15.53% during 2020-2025.
Technavio has segmented the procurement outsourcing market by geographic (North America, Europe, APAC, South America, and MEA).
Accenture Plc, Aegis One Consults Ltd., Capgemini SE, CGI Inc., DXC Technology Co., Genpact Ltd., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., NB Ventures Inc. are a few of the key vendors in the procurement outsourcing market.
North America will register the highest growth rate of 43.01% among the other regions. Therefore, the procurement outsourcing market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the procurement outsourcing market growth are:
  • Need to adhere to regulatory guidelines and ensure compliance
The procurement outsourcing market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
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