Global Procurement Outsourcing Market is likely to reach a CAGR of approximately 14.97% by 2019

Albany, NY, Feb 22, 2017: This report covers the growth prospects of the global procurement outsourcing market in the power industry. It includes market segmentation based on procurement outsourcing services. It also discusses standalone procurement outsourcing and procurement outsourcing as a part of BPO services offered until 2019. The major geographies included in this report are the Americas, APAC, and EMEA. Accenture, Capgemini, Genpact, GEP, IBM, and Xchanging are the major market vendors.

Market overview of procurement outsourcing
Growing adoption of IT in BPO effectively drives the adoption of procurement outsourcing services, and the market is likely to reach a CAGR of approximately 14.97% by 2019. There is a visible inclination toward automating BPO operations, which allows service providers to significantly improve their sustainability in the market. Importance is being given to building reusable service delivery platforms and increasing scalability and automation by leveraging new software tools that quantify, manage, and control the implementation of a process within as well as between organizations.

Technavios research analysts predict, due to volatile economic conditions, companies often have to deal with declining budgets and CPOs are often forced to accomplish more with fewer resources. Budgetary restrictions are thus moving more CPOs to seek low-cost delivery solutions such as outsourcing. Procurement outsourcing service providers have invested significantly in their procurement offerings, enhancing their capabilities in a number of areas including new offerings such as risk analytics and value engineering, contract drafting, spend analytics, and SCM such as logistics support and inventory analysis.

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Market segmentation of procurement outsourcing by type
- Standalone procurement outsourcing
- Procurement outsourcing as a part of BPO services offered

The majority of the market is occupied by the standalone procurement outsourcing segment with a market share of 52%, and the remaining 48% of the market is held by the procurement outsourcing as a portion of BPO services offered segment. It is expected that the standalone procurement outsourcing segment will witness rapid growth during the forecast period.

Market segmentation of procurement outsourcing by end-user
- Manufacturing sector
- BFSI sector
- Consumer packaged goods sector
- Software and telecom sector
- Energy and chemicals sector
- Automotive sector
- Pharmaceuticals sector
- Hospitality sector
- Others

The top six leading vendors of the market:
- Accenture
- Capgemini
- Genpact
- GEP
- IBM
- Xchanging

The other prominent vendors of the market include Aegis, ATS Group, CGI, Corpus, CSC, DSSI, HCL, HP, Infosys, Optimum Procurement, Proxima, Synise, TCS, TechMahindra , Wipro, WNS and Xerox .

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Key questions answered in this report:-
- What are the key factors driving the procurement outsourcing market?
- What are the key market trends impacting the growth of the procurement outsourcing market?
- What are the various opportunities and threats faced by the procurement outsourcing market?
- Trending factors influencing the market shares for EMEA, APAC, and Americas?
- Key outcome of the five forces analysis on the procurement outsourcing market?
- Growth forecast of the procurement outsourcing market until 2019?

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