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Procurement Outsourcing Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports
Procurement Outsourcing Market SizeThe global market for Procurement Outsourcing was valued at US$ 5577 million in the year 2024 and is projected to reach a revised size of US$ 11970 million by 2031, growing at a CAGR of 11.7% during the forecast period.
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Procure to pay (purchase to pay or P2P) is the process of obtaining and managing the raw materials needed for manufacturing a product or providing a service. It involves the transactional flow of data that is sent to a supplier as well as the data that surrounds the fulfillment of the actual order and payment for the product or service, the transfer of specified key procurement activities relating to sourcing and supplier management to a third party - perhaps to reduce overall costs or maybe to tighten the company"s focus on its core competencies. Procurement categorisation and vendor management of indirect materials and services (commonly referred to as Indirect procurement) are typically the most popular outsourced activity.
Global Procurement Outsourcing main players are IBM, GEP, Infosys, etc. Global top four manufacturers hold a share over 60%. North America is the largest market, with a share nearly 45%.
This report aims to provide a comprehensive presentation of the global market for Procurement Outsourcing, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Procurement Outsourcing.
The Procurement Outsourcing market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Procurement Outsourcing market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Procurement Outsourcing companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
By Type
• Direct Procurement
• Indirect Procurement
By Application
• CPG and Retail
• BFSI Sector
Key Companies
IBM, GEP, Infosys, Capgemini, Genpact, TCS, Xchanging, WNS
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