Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Global Procurement Outsourcing Services Market 2030 by Services, Deployment Mode, Organization Size, End-use Verticals, and Region - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.
With expectations of expansion from USD 2.81 Billion to a staggering USD 7.99 Billion by 2030, the global procurement outsourcing services market is projected to grow at a robust Compound Annual Growth Rate (CAGR) of 13.95% from 2023 to 2030.
Focus on Core Competencies to Propel Market Expansion
The market is experiencing transformative change fueled by corporations' focus on their primary expertise. By outsourcing secondary procurement tasks to specialized service providers, businesses are not only enhancing efficiency but are also making strides in strategic decision-making.
The expertise offered by procurement service providers is empowering companies to leverage market trends and sourcing methods for better purchasing decisions.
Cost Minimization Strategies Drive Adoption of Services
In the relentless pursuit of operational efficiency, firms across the globe are channeling their resources towards cost minimization. The procurement outsourcing specialists are pivotal in supporting businesses to realize substantial savings without compromising quality.
Firms are harnessing the potential of automated solutions and expertise offered by these service providers to attain a competitive edge in their respective markets.
Regional Developments and Technological Integration
The strategic movements within the North American market signify a robust inclination towards procurement outsourcing services. The expanding adoption of digital technology and corporate environmental initiatives continue to bolster market growth within this region. These trends emphasize the progressive shift corporate structures are making towards more agile and cost-effective procurement practices.
Key Market Segmentation Insights
The report details an array of market segments that are shaping the procurement outsourcing landscape, including:
- Savings-Focused and Operations-Focused Services
- Cloud-Based and On-Premises Deployment
- Services applicable to SMEs and Large Enterprises
- End-use Verticals from BFSI to Manufacturing and beyond
- Regional developments with a focus on growth in North America, Asia Pacific, Europe, and other territories
Industry players operating within the spectrum of the Procurement Outsourcing Services Market, from GEP and IBM to Accenture and Capgemini, are redefining market norms through diverse strategies and innovations. The report delves deep into these companies' market shares, strategies, and potential to influence the global platform.
Report Segmentation
By Services
- Savings-Focused
- Category Management
- Tail-Spend Management
- Spend Analysis
- Others
- Operations-Focused
- Transactions Management
- Contract Management
- Sourcing Process Management
- Tracking & Compliance
By Deployment Mode
- On-Premises
- Cloud-Based
By Organization Size
- SMEs
- Large Enterprises
By End-use Verticals
- BFSI
- Energy & Utilities
- Healthcare
- IT & Telecom
- Professional Services
- Manufacturing
- Retail
- Logistics
- Others
Companies Profiled
- GEP
- IBM
- Broadcom
- Oracle
- Accenture
- Infosys Limited
- Genpact
- Proxima
- WNS
- Capgemini
- Wipro Limited
- HCL Technologies Limited
- Tata Consultancy Services
- DXC Technology
- AEGIS Company
- Corbus
- Aquanima
For more information about this report visit https://www.researchandmarkets.com/r/ad2qsj
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