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Service Procurement Market 2025: Exclusivity – by Recent Growth Status, Revenue, Size Augmentation, key Development Ideas by Worldwide Market Reports with Top Players: SAP Fieldglass (US), Beeline (US), DCR Workforce (US), PRO Unlimited (US), PeopleFlue

05-14-2019 04:35 PM CET | IT, New Media & Software

Press release from: Worldwide Market Reports 

Service Procurement Market

Service Procurement Market

The term “services procurement” comes loaded with a great deal of ambiguity. For many procurement practitioners, especially those who have been primarily focused on the procurement of materials and goods, “services procurement” is what is happening “in the room down the hall,” where folks are dealing with procurement of temp workers supplied by staffing and possibly some services from the McKinseys and Accentures of the world — that is to say, they are procuring contingent workforce AND services.

For some practitioners, the term “services procurement” may refer to both the procurement of contingent workers (e.g., floral arrangers used at an event) and services (e.g., florist businesses that provide a service). Moreover, since, until fairly recently, so-called “services procurement” has been almost exclusively focused on contingent workforce, the term “services procurement” has tended to be equated with just procurement of contingent workforce.

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Objectives of the Study:
The main objective of this report is to define, describe, and forecast the service procurement market on the basis of segments (component, deployment type, organization size, vertical, and region). The report provides detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report forecasts the market size with respect to 5 main geographic regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The report profiles key players and comprehensively analyzes their core competencies. This report also tracks and analyzes competitive developments, such as mergers and acquisitions, new product developments, and R&D activities in the global market.

The research methodology used to estimate and forecast service procurement market begins with the collection and analysis of data on key vendor product offerings and business strategies from secondary sources, such as OneSource Business Browser, D&B Hoovers, 10K Wizard, Bloomberg, Thomson StreetEvents, Factiva, IT service providers, technology providers, press releases and investor presentations of companies, white papers, technology journals, certified publications, articles from recognized authors, directories, and databases. The vendor offerings have also been taken into consideration to determine the market segmentation.

The bottom-up procedure was employed to arrive at the total market size of the market from the revenue of the key market software tool providers and service providers. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives.

The service procurement market is expected to grow from USD XX Million in 2017 to USD XX Million by 2022, at a Compound Annual Growth Rate (CAGR) of XX% during the forecast period. Several factors such as the increasing number of freelancers in the job market, growing impetus on workforce analytics, and effective management of spending on contractual workers, are driving the growth of the market. Moreover, an increasing adoption rate of services procurement solutions by several industry verticals, such as telecom, manufacturing, BFSI, and information technology, is expected to boost the market growth.

Services procurement solutions facilitate organizations to hire human resources and automate various service governance activities in managing the life cycle of external workforce. The solutions help organizations better manage spend and gain control of its operations. The trend of services procurement from Managed Service Providers (MSP) is growing among most of the industry verticals, and the usage of mobile devices and cloud deployment is transforming the service procurement market.

Services procurement solutions help organizations make decisions using a comprehensive analysis and reporting of information generated throughout the life cycle of the external workforce. The growing requirement for automation, need for data-driven businesses, and the increasing use of social media and smartphones for enhanced collaboration and spend management are expected to drive the demand for services procurement solutions.

The evolution of services procurement technologies has transformed various MSP and vendor management for organizations that depend on considerable external workforce for carrying out various projects. The automation of various processes, such as timesheet approval and generation of statement of work procurement. The services procurement solutions help organizations to control and reduce expenditure by helping them increase the employee visibility and MSP management.

The service procurement market is expected to gain more traction, due to more opportunities, with the advancement of mobile devices and workforce analytics. Organizations are offering services procurement solutions empowered with mobile applications to approve timesheets for managers and govern resources to gain control over the spend. Organizations across the world are expected to adopt these solutions to hire contractors, consultants, and other external workforce.

Top players in global market: SAP Fieldglass (US), Beeline (US), DCR Workforce (US), PRO Unlimited (US), PeopleFluent (US), Provade (US), PIXID (France), Upwork (US), Field Nation (US), WorkMarket (US), Superior Group (US), Enlighta (US), TargetRecruit (US).

Market segment by Type, the product can be split into: Contingent Workforce Management, Freelancer Management, Statement of Work Procurement, Services Governance and MSA Management, Analytics and Reporting, Resource Sourcing and Tracking.

Market segment by Application, Service Procurement can be split into: Banking, Financial Services, and Insurance, Telecom and IT, Manufacturing, Retail and Consumer goods, Government, Healthcare and Life Sciences, Transportation and Logistics, Energy and Utilities, Others,.

Table of Contents
1 Industry Overview of Service Procurement
2 Global Service Procurement Competition Analysis by Players
3 Company (Top Players) Profiles
3.1 SAP Fieldglass (US)
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services and Solutions
3.1.4 Service Procurement Revenue (Million USD) (2013-2018)
3.1.5 Recent Developments
4 Global Service Procurement Market Size by Type and Application (2013-2018)
5 United States Service Procurement Development Status and Outlook
6 EU Service Procurement Development Status and Outlook
7 Japan Service Procurement Development Status and Outlook
8 China Service Procurement Development Status and Outlook
9 India Service Procurement Development Status and Outlook
10 Southeast Asia Service Procurement Development Status and Outlook
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About WMR

Worldwide Market Reports is your one-stop repository of detailed and in-depth market research reports compiled by an extensive list of publishers from across the globe. We offer reports across virtually all domains and an exhaustive list of sub-domains under the sun. The in-depth market analysis by some of the most vastly experienced analysts provide our diverse range of clients from across all industries with vital decision making insights to plan and align their market strategies in line with current market trends.

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