Procurement As a Service Market to reach $15 Bn by 2032, Says Global Market Insights Inc.
Major procurement as a service market participants include Accenture plc, Capgemini, Corbus, LLC., Genpact, GEP, HCL Technologies Ltd, IBM Corporation, Infosys Limited, Proxima Group, Tata Consultancy Services Limited, Wipro Limited, WNS (Holdings) Ltd., Simfoni Limited, Pcura Consulting Pvt. Ltd., Sastrify & Vizient Inc.
Selbyville, Delaware, April 19, 2023 (GLOBE NEWSWIRE) —
The procurement as a service market valuation is predicted to cross USD 15 billion by 2032, as reported in a
Asia Pacific procurement as a service (PaaS) market is poised to witness over 10% CAGR from 2023 to 2032, due to the surging demand for digital solutions capable of streamlining and managing supply chain operations. Increasing internet usage in highly populated countries such as India and China will proliferate the use of advanced digital technologies. Moreover, several government are initiating efforts to accelerate the digitization of the transportation, food & beverage, and manufacturing sectors. For instance, in August 2022 the Government of Assam, India unveiled a State Public Procurement Portal (SPPP), offering Assam Government Departments access to all tender-related data.
Prominent participants operating across the PaaS market include Accenture plc, Capgemini, Corbus, LLC., Genpact, GEP, HCL Technologies Ltd, IBM Corporation, Infosys Limited, Proxima Group, Tata Consultancy Services Limited, Wipro Limited, WNS (Holdings) Ltd., Simfoni Limited, Pcura Consulting Pvt. Ltd., Sastrify & Vizient Inc. These companies are focusing on strategic partnerships, mergers, and acquisitions as key strategies to consolidate their competitive lead. For instance, in May 2022, Bain & Company acquired a UK-based supply chain and procurement consultancy firm, Proxima, to provide cost-effective, and differentiated solutions catering to end-to-end procurement needs right from strategy to implementation.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Procurement as a service industry 3600synopsis, 2018-2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Component trends
2.5 Organization size trends
2.6 End-use trend
Chapter 3 Procurement As a Service Market Insights
3.1 Impact of COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem
3.3.1 Platform provider
3.3.2 Service provider
3.3.3 Cloud-service provider
3.3.4 Distributor
3.3.5 End-user
3.3.6 Vendor matrix
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key initiative and news
3.7 Regulatory landscape
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 Growing digitalization in business operations
3.8.1.2 Rising inclination towards outsourcing
3.8.1.3 Supply chain risk mitigation
3.8.1.4 Helps in cost reduction
3.8.1.5 Industry specific services by market players
3.8.2 Industry pitfalls & challenges
3.8.2.1 Lack of awareness regarding procurement as a service
3.8.2.2 Shortage of skilled professional
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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