Press release
Global Procurement as a Service (Paas) Market Size And Forecast 2023-2030|With Top Key Players IBM, Genpact, WNS
The Procurement as a Service (PaaS) Market is expected to grow at a significant growth rate, and the analysis period is 2023-2030, considering the base year as 2022.
Procurement as a Service (PaaS) is a procurement model where organizations outsource their procurement functions. It consists of several components, including a service layer, technology layer, intelligence and analytics, and compliance and risk management. PaaS offers numerous advantages for organizations, such as assisting with category selection and assigning category experts to handle procurement arrangements. It enables proactive supplier management, and predictive strategic sourcing, and reduces operational costs. PaaS provides flexibility and value, making it increasingly common for businesses of all sizes to handle their procurement activities. Integrated suites that include sourcing, contract management, supplier management, and risk management are in high demand among strategic procurement organizations.
Key Players Mentioned In The Global Procurement As A Service (Paas) Market Research Report:
IBM,WNS,Infosys,HCL Technologies,Capgemini,Proxima,Wipro,Genpact,GEP,Xchanging (DXC Technology),Aegis,CA Technologies,Corbus,TCS
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Market Dynamics:
Driver:
The Procurement as a Service (PaaS) market is experiencing significant growth due to organizations' increasing acceptance of the PaaS model. This adoption is driven by the recognition of the comprehensive solution offered by PaaS, which encompasses service expertise, technology, analytics, and risk management. By leveraging PaaS, businesses can optimize procurement processes, reduce costs, and gain operational flexibility, regardless of their size. The global trend of digitalization has further fueled the demand for PaaS, as it provides cost-effective solutions and development tools that cater to evolving organizational needs.
Opportunities:
The emergence of advanced technologies like AI and IoT provides a significant opportunity for the Procurement as a Service (PaaS) market. By leveraging AI, PaaS can automate tasks, improve decision-making, and optimize supplier selection, resulting in more strategic and efficient procurement processes. Furthermore, the utilization of IoT enables real-time inventory tracking and proactive inventory management, minimizing supply chain disruptions. The integration of AI and IoT into PaaS solutions enhances operational efficiency, cost savings, and overall value for organizations, fueling the growth and adoption of PaaS in the market.
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Market Segmentation
By Product Type
• Strategic Sourcing
• Spend Management
• Category Management
• Process Management
• Contract Management/Transactions Management
By Organization Size
• Large Enterprises
• SMEs
By Industry Vertical
• Manufacturing
• BFSI
• Retail & Consumer Goods
• IT & Telecom
• Energy & Utilities/Healthcare
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Geographic Segment Covered in the Report
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
Key Industry Developments in the Procurement as a Service (PaaS) Market
In May 2021, Comdata, a leading global service provider in customer management BPO, selected GEP SMART procurement software for transforming and unifying procurement.
Report includes Competitor's Landscape:
• Major trends and growth projections by region and country
• Key winning strategies followed by the competitors
• Who are the key competitors in this industry?
• What shall be the potential of this industry over the forecast tenure?
• What are the factors propelling the demand for the Action Figures And Statues?
• What are the opportunities that shall aid in significant proliferation of the market growth?
• What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures And Statues?
• How has the covid-19 impacted the growth of the market?
• Has the supply chain disruption caused changes in the entire value chain?
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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assisting our clients to grow and have a successful impact on the market. Our team at IMR is ready to assist our clients to flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, that specializes in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
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