Procurement-as-a-Service Market to reach USD 5.30 Bn by 2029, emerging at a CAGR of 6.5 percent and forecast 2023-2029

Procurement-as-a-Service Market Report Scope and Research Methodology:

Report Scope:

The report delves into the Procurement-as-a-Service business model, which combines employees, technology, and experience to manage procurement responsibilities for user firms. It covers the advantages of choosing a comprehensive procurement platform with technological solutions such as category management and supplier management to enhance efficiency and cost savings.

Research Methodology:

Our report employs a rigorous research methodology to provide accurate and up-to-date information, including market trends and opportunities. We have analyzed key players in the Procurement-as-a-Service Market, including GEP, IBM Corporation, Infosys Ltd., and more. Additionally, we've studied market initiatives, partnership strategies, and regional dynamics.

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Procurement-as-a-Service Market Dynamics:

Drivers:

The Asia Pacific Procurement-as-a-Service Market is anticipated to witness significant growth during the forecast period due to the increasing need for streamlined procurement operations and the positive impact of Business Process Outsourcing (BPO) on procurement outsourcing. The region also benefits from technological advancements by leading organizations, further boosting demand.

Restraints:

Security updates pose a challenge to market growth, with data security being a major concern. Expensive security retrofits are often inadequate to protect against cyberattacks, especially as procurement processes become more digitally-enabled. These security gaps can result from legacy systems' incompatibility with outsourced solutions.

Procurement-as-a-Service Market Regional Insights:

• Asia Pacific: The Asia Pacific region is expected to dominate the Procurement-as-a-Service Market with a CAGR of 7.60%. It benefits from rapid economic growth, technological advancements, and government initiatives like "Make in India" 2.0, focusing on futuristic segments such as robotics.
• North America: North America, with a CAGR of 4.9%, maintains a strong presence in advanced technologies like AI, machine learning, and robotics. Trade agreements open export opportunities for U.S. companies in foreign government procurement markets.

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Procurement-as-a-Service Market Segmentation:

by Component

1. Strategic Sourcing
2. Spend Management
3. Category Management
4. Process Management
5. Contract Management
6. Transaction Management

by Enterprise Size

1. SMEs
2. Large Enterprises

by End-Use Industry

1. IT & Telecom
2. Consumer Goods & Retail
3. Manufacturing
4. Energy & Utility
5. Healthcare
6. Hospitality & Tourism
7. Others

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Procurement-as-a-Service Market Key Players:

1.Infosys
2.GEP
3.Genpact
4.Proxima
5.WNS Denali
6.Capgemini
7.IBM
8.Wipro
9.HCL Technologies
10.Tata Consultancy Services(TCS)
11.Xchanging
12.Aegis Components Inc.
13.Corbus LLC
14.Bain & Company
15.CA Technologies
16.Hewlett Packard Enterprise Development LP
17.Skybox Security Inc.
18.Palo Alto Networks, Inc
19.Cisco Systems, Inc.

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Table of content for the Procurement-as-a-Service Market includes:

1. Global Procurement-as-a-Service Market: Research Methodology

2. Global Procurement-as-a-Service Market: Executive Summary

• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry

3. Global Procurement-as-a-Service Market: Competitive Analysis

• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact

4. Company Profile: Key players

• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments

Key Offerings:

• Past Market Size and Competitive Landscape
• Past Pricing and price curve by region
• Market Size, Share, Size and Forecast by different segment | 2023-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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