Portland, OR , Nov. 02, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global procurement-as-a-service market generated $6.2 billion in 2021, and is projected to reach $20.0 billion by 2031, growing at a CAGR of 12.5% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
Download Free Sample Report (343 Pages PDF with Insights, Charts, Tables, Figures):
https://www.alliedmarketresearch.com/request-sample/9508
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $6.2 billion |
| Market Size in 2031 | $20.0 billion |
| CAGR | 12.5% |
| No. of Pages in Report | 315 |
| Segments Covered | Component, Organization Size, Industry Vertical, and Region. |
| Drivers | Increase in the standard of living |
| Better visibility and with cross functional access among to organizations | |
| Opportunities | Increase in need for effective demand and supply management solutions |
| Significant surge in need to improve supply chain visibility | |
| Restrains | Data privacy and sharing risks associated with third-party procurement as service vendors |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global procurement-as-a-service market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various commercial work places and businesses due to the stringent social distancing restrictions imposed by the government.
- Thus, people and companies across the globe were increasingly inclining towards remote working and work-from-home standards, which significantly boosted the growth of the market.
- Moreover, with the outbreak of COVID-19, businesses have been forced to shift their attention and increase their online presence, needing to rely on digital solutions more than ever post the pandemic. Therefore, the market is expected to grow exponentially in the coming years.
The report offers detailed segmentation of the global procurement-as-a-service market based on component, organization size, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on component, the strategic sourcing segment held the largest market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The transaction management segment, on the other hand, is expected to cite the fastest CAGR of 16.0% during the forecast period.
Based on organization size, the large enterprise segment held the dominating market share in 2021, holding more than half of the global market. The small and medium enterprises segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 13.8% during the forecast period.
Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/9508
Based on industry vertical, the manufacturing segment held the lion’ share in 2021, holding nearly one-fourth of the global market. The retail segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 14.8% during the forecast period.
Based on region, the market across North America held the dominating market share in 2021, holding around two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 16.8% during the forecast period.
The key players analyzed in the global procurement-as-a-service market report include Accenture, Plc, Aegis One Consults Ltd, CA Technologies, Capgemini, Corbus India LLP, F-code, Genpact, HCL Technologies Limited, IBM Corporation, Infosys Limited, Proxima Group, TATA Consultancy Services, Wipro, WNS Global, X Changing Solutions, GEP, Simfoni Limited.
The report analyses these key players in the global procurement-as-a-service market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analysing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
Buy this Report at:
https://www.alliedmarketresearch.com/checkout-final/68bcf1c6b9c7e408842e1ec07d9c871a
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
