Procurement As A Service Market to Portray $12 Billion by 2028: Says Adroit Market Research
The increasing need to save costs on technology deployment and increasing awareness about procurement services is boosting the market growth in enterprise size segment.
Dallas, United States – April 20, 2021 /MarketersMedia/ —
Various rage of organizations deals with a challenge of reducing the procurement operations costs along with the procurement processes streamlined easing the management activities which is a driving factor escalating the growth of the procurement services market. The global procurement as a service market disintegrates based on the types of components offered such as spend management, strategic sourcing, process management, category management, transactions management and contract management. Among the variety of product component offerings, the strategic sourcing component type is considered to be of major significant as an essential part of all businesses irrespective of the industry nature.
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Strategic sourcing involves the management and analysis of crucial procurement stages such as analysis of the organization’s purchase identifying what a particular organization buys, sourcing referring to from whom the purchase products are bought, and very importantly at the price range of the purchase and purchase volume. In addition to this, strategic sourcing also includes a set of activities involved in the identification of company’s external expenditure, negotiation of prices with suppliers and building contracts considered to be one of the most crucial stages of procurement procedures and conducting requests for proposal process or request for quotation process.
The massive global competitive environment coupled with manufacturers witnessing a rise in demand drives the companies to adopt strategic innovations to sustain the competition. Currently manufacturers are required to provide technology equipped services with new features, higher quality delivery at lower rates and shorter production rate while maintaining effective customer satisfaction and management of costs hence driving the manufacturing companies to successfully adopt technology driven solutions and procurement outsourcing focusing on cost savings.
The purpose of maintaining a smooth procurement process is to focus on key competencies of a company such as the production, manufacturing skills and on-time delivery. North America portrays largest market size of the procurement as a service market owing to the fact that this region a major hub for high technology innovations adopting new technologies earliest. Enterprises concentrated in this region are particularly centering their focus on improvising procurement procedures and operations thereby increasing efficiency and maintaining a competitive edge.
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Table of Content:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Procurement as a Service Market by Type
Chapter 6 Procurement as a Service Market by Enterprise Size
Chapter 7 Procurement as a Service Market by End Users
Chapter 8 Procurement as a Service Market By Region
8.1 Introduction
8.2 North America
8.3 Europe
8.4 Asia Pacific
8.5 Middle East & Africa
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
10.1 Accenture
10.2 Aegis
10.3 CA Technologies
10.4 Capgemini
10.5 Corbus
10.6 Genpact
10.7 GEP
10.8 HCL Technologies
10.9 IBM
10.10 Infosys
10.11 Other Companies
About Us
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code – Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
Contact Info:
Name: Ryan Johnson
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Organization: Adroit Market Research
Website: https://www.adroitmarketresearch.com/industry-reports/procurement-as-a-service-market
Source: MarketersMedia
Release ID: 89006213
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