Procurement Outsourcing Services Market to Reflect Impressive Expansion During 2026
According to Stratistics MRC, the Global Procurement Outsourcing Services market is accounted for $2856.72 billion in 2017 and is expected to reach $9437.63 billion by 2026 growing at a CAGR of 14.2% during the forecast period. The need to adhere to regulatory guidelines and ensure compliance and emergence of nearshore and offshore outsourcing locations are some key factors propelling the growth of the market. However, the augmented gap between growing customer need and association capability are hampering the market.
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Procurement outsourcing services is a process wherein a company engages an external service provider to manage its core and non-core purchase transactions and expenditures. This helps the company allocate important resources to work on strategic initiatives and handling important business activities. Procurement outsourcing services help companies reduce operational costs, increase savings on investments, and improve businesses.
Based on the type, the consulting services segment is likely to develop at a major pace due to an increase in acceptance of procurement services across customers. This process helps companies save on significant capital. By Geography, North America held a well-known contributor to the global procurement outsourcing services market due to the elevated response about the services among users and an increasing number of service providers in the region.
Some of the key players profiled in the Procurement Outsourcing Services include Xchanging, WNS, Wipro Limited, Optimum Procurement, LLC, Infosys Ltd., IBM Corporation, HCL Technologies, GEP, Genpact Ltd., Corbus, Aquanima, and Accenture Plc.
Types Covered:
• Consulting Services
• Business Process Outsourcing Services
End Users Covered:
• Consumer Goods & Retail
• Media & Entertainment
• Logistics
• Energy & Utilities
• Building, Construction & Real Estate
• Healthcare
• Travel & Hospitality
• Education
• Automotive
• Manufacturing
• Professional Services
• Banking, Financial Services and Insurance (BFSI)
• IT & Telecom
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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– Market share assessments for the regional and country level segments
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– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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