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Shaping the Procurement Outsourcing Market in 2025: Acquire BPO Launches Acquire.AI to Drive AI-Powered Efficiency and Customer Experience in Procurement Outsourcing
Procurement Outsourcing Market
The procurement outsourcing market has expanded rapidly in recent years. It will grow from $4.78 billion in 2024 to $5.52 billion in 2025, at a CAGR of 15.5%. This growth is driven by the need for cost efficiency, the focus on core competencies, globalization, improved risk management, and flexible resource allocation.
The procurement outsourcing market is expected to grow rapidly, reaching $9.02 billion by 2029 with a CAGR of 13.1%. This growth is driven by strategic sourcing, sustainability and CSR initiatives, resilience planning, the demand for specialized skills, and data security and compliance. Trends include digital transformation, technological advancements, the adoption of agile and flexible procurement models, data analytics and business intelligence, and a focus on strategic sourcing.
What Are the Primary Growth Drivers for the Procurement Outsourcing Market?
The expansion of the e-commerce industry is anticipated to drive the growth of the procurement outsourcing market in the coming years. E-commerce involves the buying and selling of products and services through online platforms and electronic networks. Procurement outsourcing plays a key role in e-commerce by managing supplier contracts, ensuring regulatory compliance, and optimizing procurement processes. For instance, in October 2023, Boston Consulting Group Inc., a US-based management consulting firm, reported that e-commerce sales in Europe grew by 3%, while the US and Asia saw a 7% increase in 2022. Additionally, global e-commerce sales are expected to rise at a 9% annual growth rate by 2027. Therefore, the expansion of the e-commerce industry is propelling the procurement outsourcing market.
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Who Are the Dominant Companies Influencing Procurement Outsourcing Market Trends?
Major companies operating in the procurement outsourcing market report are Microsoft Corporation, Siemens AG, General Electric Company, accenture* PLC, International Business Machines Corporation, Ernst & Young LLP, SAP SE, Tata Consultancy Services Limited, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, DXC Technology Company, Wipro Limited, HCL Technologies Limited, Rockwell Automation Inc., CGI Inc., Concentrix Services India Private Limited (CSIPL), GEP Worldwide, WNS Denali, JAGGAER, Corbus LLC, Aquanima SA, Xchanging Solutions Limited, Intetics Inc., Aegis One Consults Ltd.
How Is the Procurement Outsourcing Market Evolving?
Major companies in the procurement outsourcing market are leveraging technological advancements, including artificial intelligence (AI), to improve procurement processes, enhance decision-making, and achieve cost efficiency. AI involves creating machines capable of performing tasks that require human intelligence, such as learning, problem-solving, and pattern recognition. For example, in July 2024, Acquire BPO, an Australia-based business process outsourcing company, introduced Acquire.AI. This AI-driven solution is designed to improve business efficiency and customer experiences, enabling AI adoption across industries while driving growth and operational improvements.
What Are the Different Segmentations in the Procurement Outsourcing Market?
The procurement outsourcing market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment: On-Premises, Cloud
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprise
4) By Industry Verticals: Banking, Financial Services, And Insurance (BFSI), Energy And Utilities, Healthcare, IT And Telecom, Professional Services, Manufacturing, Retail, Logistics, Other Industry Verticals
Subsegments:
1) By Solution: Procurement Software Solutions, Supplier Management Solutions, E-Sourcing And E-Procurement Solutions, Procurement Analytics And Reporting Tools, Spend Management Solutions
2) By Services: Strategic Sourcing Services, Supplier Relationship Management Services, Procurement Operations Management, Purchase Order And Invoice Management Services, Procurement Consulting And Advisory Services, Contract Management Services, Procurement Process Outsourcing (PPO)
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Which Region Is at the Forefront of the Procurement Outsourcing Market?
North America was the largest region in the procurement outsourcing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the procurement outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Procurement Outsourcing Global Market Report?
- Market Size Analysis: Analyze the Procurement Outsourcing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Procurement Outsourcing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Procurement Outsourcing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Procurement Outsourcing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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