Growing adoption of Procurement Outsourcing Market 2015-2019

“The Report Global Procurement Outsourcing Market 2015-2019 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. – MarketResearchReports.biz”

Global Procurement Outsourcing Market: Research Study 2015-2019

Covering: This report covers the growth prospects of the global procurement outsourcing market in the power industry. It includes market segmentation based on procurement outsourcing services. It also discusses standalone procurement outsourcing and procurement outsourcing as a part of BPO services offered until 2019. The major geographies included in this report are the Americas, APAC, and EMEA. Accenture, Capgemini, Genpact, GEP, IBM, and Xchanging are the major market vendors.

Market overview of procurement outsourcing

Growing adoption of IT in BPO effectively drives the adoption of procurement outsourcing services, and the market is likely to reach a CAGR of approximately 14.97% by 2019. There is a visible inclination toward automating BPO operations, which allows service providers to significantly improve their sustainability in the market. Importance is being given to building reusable service delivery platforms and increasing scalability and automation by leveraging new software tools that quantify, manage, and control the implementation of a process within as well as between organizations.

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Technavios research analysts predict, due to volatile economic conditions, companies often have to deal with declining budgets and CPOs are often forced to accomplish more with fewer resources. Budgetary restrictions are thus moving more CPOs to seek low-cost delivery solutions such as outsourcing. Procurement outsourcing service providers have invested significantly in their procurement offerings, enhancing their capabilities in a number of areas including new offerings such as risk analytics and value engineering, contract drafting, spend analytics, and SCM such as logistics support and inventory analysis.

Market segmentation of procurement outsourcing by type

Standalone procurement outsourcing

Procurement outsourcing as a part of BPO services offered

The majority of the market is occupied by the standalone procurement outsourcing segment with a market share of 52%, and the remaining 48% of the market is held by the procurement outsourcing as a portion of BPO services offered segment. It is expected that the standalone procurement outsourcing segment will witness rapid growth during the forecast period.

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Market segmentation of procurement outsourcing by end-user

Manufacturing sector

BFSI sector

Consumer packaged goods sector

Software and telecom sector

Energy and chemicals sector

Automotive sector

Pharmaceuticals sector

Hospitality sector

Others

The manufacturing and BFSI sectors are the early adopters of procurement outsourcing services, followed by the rest of the industry verticals. Global uncertain economic pressure requires organization to adapt cost-efficient solutions to boost up their procurement process. Strategic procurement management system can help an organization achieve the following: cost control, increased procurement approach, visibility in the entire procurement process, and process innovation.

Geographical segmentation of the procurement outsourcing market

Americas

APAC

EMEA

The Americas is the largest contributor in terms of overall spending on the procurement outsourcing market, followed by EMEA and APAC. Based on overall spending, the US is the dominant country in this market, and procurement outsourcing spending on its states is expected to increase further during the forecast period. The UK is the largest market in EMEA for procurement outsourcing.

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Vendor landscape of the procurement outsourcing market

There are numerous enterprises in the marketplace that have been providing procurement outsourcing services for a long time. Some of the large companies dominate the market with their innovative and high-quality services. In the current scenario, companies are opting for the automation of processes, simplification of IT environment, and development of an economical cost structure, which suggests that there will be a favorable spending environment for the procurement outsourcing market during the forecast period.

The top six leading vendors of the market:

Accenture

Capgemini

Genpact

GEP

IBM

Xchanging

The other prominent vendors of the market include Aegis, ATS Group, CGI, Corpus, CSC, DSSI, HCL, HP, Infosys, Optimum Procurement, Proxima, Synise, TCS, TechMahindra , Wipro, WNS and Xerox .

Key questions answered in the report

What are the key factors driving the procurement outsourcing market?

What are the key market trends impacting the growth of the procurement outsourcing market?

What are the various opportunities and threats faced by the procurement outsourcing market?

Trending factors influencing the market shares for EMEA, APAC, and Americas?

Key outcome of the five forces analysis on the procurement outsourcing market?

Growth forecast of the procurement outsourcing market until 2019?

Technavio also offers customization on reports based on specific client requirement.

Related reports

Global Procurement Outsourcing Market 2014-2018

Global S2P Outsourcing Market 2015-2019

Global CRM Outsourcing Market 2015-2019

Global Data Center Outsourcing Market 2015-2019

Global Data Analytics Outsourcing Market 2015-2019

Table of Contents

PART 01: Executive summary

Highlights

PART 02: Scope of the report

Market overview

Top-vendor offerings

PART 03: Market research methodology

Research methodology

Economic indicators

PART 04: Introduction

Key market highlights

PART 05: Market landscape

Market overview

Market size and forecast

Five forces analysis

PART 06: Market segmentation

Market segmentation

PART 07: Market segmentation by End-user

PART 08: Geographical segmentation

Global procurement outsourcing market by geographical segmentation 2014

PART 09: Market drivers

PART 10: Impact of drivers

PART 11: Market challenges

PART 12: Impact of drivers and challenges

PART 13: Market trends

PART 14: Vendor landscape

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