Procurement Outsourcing Market is expected to see growth rate of 10.98% | Accenture, Genpact, GEP

Procurement outsourcing refers to the transfer of specific procurement activities regarding supplier and sourcing management to a third party in order to reduce overall costs and increasing operational efficiency. Rise in spending by the organization for business process automation and growth in the IT sector driving the demand for procurement outsourcing. Further, technological advancement in the procurement outsourcing services and increasing adoption by numerous industry verticals such as BFSI, energy & utilities, healthcare, IT & telecom, professional services, manufacturing, and others expected to drive the demand for procurement outsourcing market over the forecasted period. According to AMA, the Global Procurement Outsourcing market is expected to see growth rate of 10.98%.

Global Procurement Outsourcing Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, players market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.

Major Players in This Report Include,
Accenture Plc (Ireland), GEP (United States), Genpact Ltd. (United States), Wipro Limited (India), Infosys Ltd. (India), HCL Technologies (India), Aquanima (Spain), WNS (India), IBM Corporation (United States) and Xchanging (United Kingdom)

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Market Trend
• Growing Focus on Business Process Automation
• Emphasizing On the Technological Advancement in the Procurement Outsourcing

Market Drivers
• Rising Adoption of New IT Solutions
• Growing Digitization in Numerous Industries

Opportunities
• Growth in the IT Sector in Emerging Economies
• Increasing Demand for Procurement Outsourcing From the Manufacturing and BFSI Industry

Restraints
• Stringent Government Regulations Regarding Data and Network Security Process

Challenges
• Lack of Awareness in the Low and Middle Income Group Countries
• Balancing Client Need and Organization Capability

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In this research study, the prime factors that are impelling the growth of the Global Procurement Outsourcing market report have been studied thoroughly in a bid to estimate the overall value and the size of this market by the end of the forecast period. The impact of the driving forces, limitations, challenges, and opportunities has been examined extensively. The key trends that manage the interest of the customers have also been interpreted accurately for the benefit of the readers.

The Procurement Outsourcing market study is being classified by Type, Applications and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).

The Global Procurement Outsourcing is segmented by Industry Vertical (BFSI, Energy & utilities, Healthcare, IT & telecom, Professional services, Manufacturing, Retail, Logistics, Others), Component (Business Process Outsourcing Services (Category Management, Source Management, Procurement Management, Supplier Management, Procure to Pay))

The report concludes with in-depth details on the business operations and financial structure of leading vendors in the Global Procurement Outsourcing market report, Overview of Key trends in the past and present are in reports that are reported to be beneficial for companies looking for venture businesses in this market. Information about the various marketing channels and well-known distributors in this market was also provided here. This study serves as a rich guide for established players and new players in this market.

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Current Scenario Analysis for Decision Framework
Key Strategic Developments in Procurement Outsourcing Market:
The research includes the key strategic activities such as Research & Development (R&D) initiatives, Merger & Acquisition (M&A) completed, agreements, new launches, collaborations, partnerships & (JV) Joint ventures, and regional growth of the key competitors operating in the market at global and regional scale to overcome current slowdown due to COVID-19.

Key Market Features in Global Procurement Outsourcing Market
The report highlights Procurement Outsourcing market features, including revenue size, weighted average regional price, capacity utilization rate, production rate, gross margins, consumption, import & export, demand & supply, cost bench-marking in Procurement Outsourcing, market share and annualized growth rate (Y-o-Y) and Periodic CAGR.

Extracts from Table of Contents
Global Procurement Outsourcing Market Research Report
Chapter 1 Global Procurement Outsourcing Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Revenue (Value, Volume*) by Region
Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions
Chapter 6 Global Revenue (Value, Volume*), Price* Trend by Type
Chapter 7 Global Market Analysis by Application
………………….continued

This report also analyzes the regulatory framework of the Global Markets Procurement Outsourcing Market Report to inform stakeholders about the various norms, regulations, this can have an impact. It also collects in-depth information from the detailed primary and secondary research techniques analyzed using the most efficient analysis tools. Based on the statistics gained from this systematic study, market research provides estimates for market participants and readers.

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