Global Procurement Outsourcing Services Market Analysis to 2027 Lead By Accenture, Capgemini SE, DXC Technology, Genpact, GEP, HCL Technologies, IBM, Infosys, Wipro, WNS

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global procurement outsourcing services market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The procurement outsourcing services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

Some of the leading players in global market are Accenture plc, Capgemini SE, DXC Technology Company, Genpact Ltd, GEP, HCL Technologies Limited, IBM Corporation, Infosys Limited, Wipro Limited, WNS (Holdings) Ltd.

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The demand for procurement outsourcing services is gaining traction with the increasing global competition and cost-effectiveness of the service. Technological advancements and rising digitization are further projected to expand the growth of the procurement outsourcing services market. The key market players are adopting advanced analytics and integrating machine learning and artificial intelligence to achieve intelligent operations. This scenario creates a favorable industry outlook for the key market players during the forecast period.

The procurement outsourcing services market is anticipated to flourish in the forecast period owing to driving factors such as demand from enterprises to streamline the procurement process and an increasing need to handle compliance policies and contracts. However, data security and privacy issues hinder the growth of the procurement outsourcing services market during the forecast period. On the other hand, the adoption of technologies like artificial intelligence and machine learning are exacted to offer significant growth prospects to the players operating in the procurement outsourcing services market in the future.

The global procurement outsourcing services market is segmented on the basis of component and industry vertical. Based on component, the market is segmented as source management, supplier management, procurement management, transactions management, and others. On the basis of the industry vertical, the market is segmented as manufacturing, healthcare, IT & telecom, BFSI, retail and consumer goods, and others.

The report analyzes factors affecting procurement outsourcing services market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the procurement outsourcing services market in these regions. The reports cover key developments in the procurement outsourcing services market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from procurement outsourcing services market are anticipated to lucrative growth opportunities in the future with the rising demand for procurement outsourcing services in the global market.

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