Procurement As A Service Market size to grow from USD 5.4 billion in 2019 to USD 7.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 7% during the forecast period. Increasing demand from enterprises to streamline the procurement processes provide growth opportunities for Procurement as-a-Service market. Procurement as a service encapsulates the gamut of procurement services delivered via 'as a service' model. Global Procurement as a Service Market to reach USD 10.04 billion by 2027.Global Procurement as a service Market is valued approximately USD 5.78 billion in 2020 and is anticipated to grow with a . All enterprises utilize procurement services and have traditionally managed them in-house. Download PDF. Europe, on the other hand, dominated the procurement-as-a-service market in 2020, with the highest revenue share. The global Procurement as a Service market size is expected to reach close to US$ 13.3 Bn by 2029 with an annualized growth rate of 7% through the projected period. The global procurement-as-a-service market is expected to be worth $9.3bn by 2025, according to a report. The global procurement as a service market is expected to reach USD 10.29 billion by 2028, and is anticipated to expand at a CAGR of 8.2% from 2021 to 2028. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. It has badly affected China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US in terms of confirmed cases and reported deaths as of March 2020. Procurement teams are typically faced with two ongoing challenges: time dedicated to non-value-add activities and responding to unplanned business needs. October 10, 2022 Latest: Surgical Instrument Tracking Systems Market Industry Analysis To Witness Huge Growth Between 2022-2030 The global Procurement as a service market has been segmented on the basis of Component, Organization Size, Industry Vertical, and key regions. When done right, procurement can position the organization smartly in the market, achieve best possible conditions, and maximize opportunities. The global procurement as a service market size is expected to reach USD 13.58 billion by 2030, registering a CAGR of 10.4% over the forecast period, according to a new report by Grand View Research, Inc. The demand for Internet-of-Things (IoT) technology and services are growing globally, especially around applications within the healthcare, energy, transport, public . It is the key contributor for Global Procurement as a Service Market. The study contains a . 4.Global Procurement as a Service Market, By Component Market 2019-2024 (Volume/Units) 4.1 Strategic Sourcing Market 2019-2024 (Volume/Units) - Global Industry Research 4.1.1 Increasing Need to Manage the Network of Suppliers Among Enterprises to Draw the Demand for Strategic Sourcing Market 2019-2024 (Volume/Units) The market is set to expand by 7.3% per year from 2019 to 2025, according to the report by Grand View Research, which will be mainly due to the rapid proliferation of digital technologies.These are redesigning business supply chains and are set to transform the way the procurement function . Although the COIVD-19 pandemic posed a minor hiccup to the otherwise positive . The proliferation of digital technology and the need to address supply chain risks have contributed to market growth. The key elements of the 'Procurement as a Service' (PRAAS) model would be: Service Layer: 'The heart'; comprising of business processes designed with best-in-class standards, operating models, people element and Service Portfolio/ modules, backed by automation and domain expertise. The new report from Quince Market Insights, titled "Global Service Procurement Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2032," offers a detailed analysis of the . Strategic procurement requires effective contract management, which covers the creation and execution of agreements to their analysis and review and everything in between. 5. Procurement as a Service - Overview. Procurement as a Service Market from Consainsights analyses the Procurement as a Service Market in the Technology & Media industry over the forecast period to 2026. Procurement as a Service allows organizations to develop business relationships and service levels, focus on critical competencies and categories, and provide. The Procurement as a Service Market report focuses on the requirements of the clients from several global Market regions such as North America, Latin America, Asia-Pacific, Europe, and India.. North America is leading the market with more than 40% of the shares. Technology helps them see what you're spending money on, and where you will likely be able to find savings. In this complex economic environment, we published the Global Procurement as a Service (PaaS) Market Status, Trends and COVID-19 Impact Report 2022, which provides a comprehensive analysis of the . Acumen Research and Consulting has recently published a research report on the Procurement-As-A-Service Market for the forecast period of 2022-2030, wherein, Skip to content. Procurement as a service is an outsourced procurement . Procurement as a Service (PaaS) is a cloud-based application that enables organizations to manage and automate their procurement processes. The latest 117+ page survey report on Procurement as a Service (PaaS) Market is released by HTF MI covering various players of the industry selected from global geographies like North America . The ventures in the North America are concentrating on . Business consulting services, business development plan, market intelligence, competitor monitoring, landscape analysis, market opportunity assessment, customer satisfaction . The global procurement as a service market will expand from $ 5.4 billion in 2019 to $ 7.8 billion in 2025, at a compound annual growth rate (CAGR) of 7.6% over the foreseen period. The proliferation of digital technology and the need to address supply chain risks have contributed to market growth. Procurement as a service is an outsourced procurement model that combines technology, staff, and expertise to handle a portion, if not all, of your organization's procurement function. What is the application segment? Service procurement is the procurement of services. Contract management is key to keeping costs low while ensuring a high level of performance from suppliers. Procurement as a service refers to a third-party procurement that ideally blends expertise, employee, and technology with an aim to manage the procurement requirement of a company. Procurement as-a-Service Market was valued US$ 3,065.0 million in 2020 and is expected to reach US$ 4,741.1 million by 2027 with a CAGR of 8.3% during 2020-2027 segmented into Component, Enterprise Size and End-User Industry. Procurement Purchasing. The global procurement as a service market size is expected to reach USD 9.3 billion by 2025, expanding at a CAGR of 7.3% from 2019 to 2025, according to a new report by Grand View Research, Inc. Service Procurement Market size was valued at USD 771.58 Million in 2020 and is projected to reach USD 1,864.49 Million by 2028, growing at a CAGR of 11.66% from 2021 to 2028. According to Quince Market Insights (QMI), the global Procurement as a Service market is projected to grow at USD bn at a CAGR of between 2023 and 2032 (forecast period). We have studied the Procurement as a Service (PaaS) Market in 360 degrees via. both primary & secondary research methodologies. The procurement as a service market was valued at USD 5.5 billion in 2019 and is expected to grow with a CAGR of 7.4% during the forecast period. The growing need among enterprises to reduce the costs associated with procurement operations and streamline . Global Procurement as a Service market size was ** billion USD in 2021, and will expand at a CAGR of **% from 2022 to 2026, according to the report. Procurement as a service is an outsourced procurement business model that combines staff, technology, and expertise to manage a portion, or complete, of user's organization's procurement functions. Procurement Co helps businesses when it comes to the complexity of . Procurement as a service in the manufacturing industry takes care of processes, such as spend analysis, sourcing and category management, supplier management, Procure-to-Pay (P2P) and Source-to-Pay (S2P) process management (while ensuring execution compliance), and planning and managing the supply chain costs. The Global Procurement As A Service Market size was estimated at USD 5,827.43 Million in 2020 and expected to reach USD 6,300.92 Million in 2021, at a Compound Annual Growth Rate (CAGR) 8.46%. Tap into an amazing Talent network to find and hire procurement consultants, sourcing agents, quality engineers and more | ProcurementFreelancers.com is a curated marketplace supporting businesses to find, hire, work with, procurement consultants and freelancers for any project. Positive impact of BPO evolution on procurement outsourcing provide growth opportunities for Procurement as-a-Service market.. Procurement as-a-service is an outsourced procurement business model that combines staff, technology, and expertise to manage a . The global procurement as a service market expanded at a CAGR of 7.7% over the last seven years. Global procurement outsourcing services market is expected to show a value of USD 7.86 billion by 2029. BPaaS Market by Business Process (HRM, Accounting and Finance, Sales and Marketing, Customer Service and Support, Procurement and Supply Chain, Operations, and Legal and R&D), Organization Size . It is a grossing market with high revenue. Procurement as a service is an outsourced procurement model that combines technology, staff, and expertise to handle various procurement functions of the organization. North America is foreseen to emerge as the biggest market in size, in the global procurement as a service market, since the region is a key hub for advanced technological developments, and adopts the technologies pretty faster. The prices are outlined to rise by 14%-17% during the forecast period and suppliers will have moderate bargaining power in this market. The global procurement as a service market size is expected to reach USD 13.58 billion by 2030, registering a CAGR of 10.4% over the forecast period. According to a comprehensive research report by Market Research Future (MRFR), " Global Procurement as a Service Market information by Organization Size, by Components, by Vertical and Region . The industry is projected to be driven by the growing need for enhancing procurement function and is expected to reach USD 7 billion by 2026. The global Services Procurement Solutions Market is expected to reach US$ Million by 2027, with a CAGR of $$% from 2020 to 2027, based on Report Ocean newly published report. In 2021, the global market size of procurement as a service was valued at US$ 6.3 Bn and estimated to reach a valuation of US$ 6.7 Bn in 2022. What is the growth rate of the procurement outsourcing services market? Global Procurement As A Service Market Global Procurement As A Service Market Dublin, May 30, 2022 (GLOBE NEWSWIRE) -- The "Procurement As A Service Market Size, Share & Trends Analysis Report by Vertical (BFSI, Retail), by Component (Strategic Sourcing, Transaction Management), by Organization (Large, SMEs), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's . The global procurement as a service market size is expected to reach USD 13.58 billion by 2030, registering a CAGR of 10.4% The proliferation of digital technology and the need to address supply. The global procurement as a service market size was valued at USD 5.94 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 10.4% from 2022 to 2030. The increased emphasis on workforce analytics, as well as the emergence of new possibilities as a result of technical advancements, has driven market expansion. Supplier management. The desktop as a service procurement category is projected to grow at a CAGR of 16.52% during 2022-2026. Based on Component, the market is segmented into Strategic Sourcing, Spend Management, Category Management, Process Management, Contract Management, and Transactions Management. MARKET SYNOPSIS The Global Procurement Service Market is valued at USD 4.93 billion in 2018 and is rising at a CAGR of 8.9% with a forecast of USD 9 Billion by 2025. In the context of China-US trade war and COVID-19 epidemic, it will have a big influence on this market. It is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 7.8%. Procurement as a Service research report from Consainsights outlines the detailed strategic analysis, trends, market opportunities, growth prospects, industry and market challenges . Such factors have a positive impact on regional market growth, ultimately contributing to the expansion of the global procurement-as-a-service market. +1-800-792-5285 (TOLL-FREE) We provide top-notch matching service for organizations . The rapid proliferation of digital technologies is redesigning business supply chains, and is poised to transform the way procurement function delivers Procurement as a service Market: Geographical Analysis. Procurement As A Service Market Analysis and Forecast to 2031: By Component (Strategic Sourcing, Spend Management, Contract Management, Others), Organization Size (Large Enterprises . US: +1-833-761-1700 . Global Procurement as a Service (PaaS) market size is estimated to be worth USD 6494.3 million in 2021 and is forecast to a readjusted size of USD 10000 million by 2028 with a CAGR of 6.4 Percent during the review period. Global Forecast to 2025 is a professional and comprehensive research . Technology supports the service providers to see what their customers are spending money on, and where they are likely to find potential savings. As the world slowly recovers from the COVID-19 pandemic, there is a greater demand for digital, agile . Impact of COVID-19 Pandemic on Procurement as-a-Service Market COVID-19 outbreak, which began in Wuhan (China) in December 2019, has rapidly spread across the globe. Procurement as a Service Market Regional Analysis: The procurement as a service market is fragmented into Asia Pacific, Europe and North America. Who are the major players operating in the market? Procurement As A Service Market Size is Estimated To Be Valued at US$ 6.88 Bn With a CAGR Of 14.29% By 2028 SAN FRANCISCO, Nov. 25, 2019 /PRNewswire/ -- The global procurement as a service market size is expected to reach USD 9.3 billion by 2025, expanding at a CAGR of 7.3% from 2019 to 2025, according . Infosys Portland offers a suite of flexible Procurement as a Service (PaaS) capabilities, which are tailored to business requirements. Traditionally, the acquisition has been considered behind the scenes, but its professionals have gradually been recognized in recent years. Service Procurement Report by Material, Application, and Geography ? In order to achieve this, we set up the necessary organizational structures and processes - always with regard to your company strategy and financial objects. The employees in small enterprises will gain access to targeted . Procurement as-a-service is an outsourced procurement business model that combines staff, technology, and expertise to manage a portion, or complete, of user's organization's procurement. Global and Chinese Procurement as a Service Market 2022 is a professional and in-depth study on the current state of the global market with a focus on the Global and Chinese market. In the context of China-US trade war and COVID-19 epidemic, it will have a big influence on this market. Microsoft Corp., Cisco Systems Inc., and Citrix Systems Inc. are a few of the key suppliers in the . Technology layer: 'The spine or the base' and includes the . This is primarily estimated by the widespread use of digital technologies. The global procurement as a service market attained a value of USD 5.28 billion in 2020, driven by the rising adoption of advanced technologies. the procurement-as-a-service market expected to grow from us$ 3.06 billion in 2020 to us$ 4.74 billion by 2027; it is estimated to grow at a cagr of 6.4% from 2020 to 2027.new york, july 27, 2022. Growing Need to Streamline the Procurement Process among Organizations. SAN FRANCISCO, Nov. 25, 2019 /PRNewswire/ -- The global procurement as a service market size is expected to reach USD 9.3 billion by 2025, expanding at a CAGR of 7.3% from 2019 to 2025, according . Procurement as a service is a third party procurement model that amalgamates staff, expertise, and technology to manage the procurement function of an organization. Over the past few years, increasing penetration of advanced technologies across different industry verticals is the leading . The Global Procurement as a Service Market size is expected to reach $10.3 billion by 2027, rising at a market growth of 7.9% CAGR during the forecast period. Engaging procurement as a managed service rather than an internal function delivers the expertise, systems, and processes required to implement large scale procurement strategies, as well as delivering on time and more cost effectively than a team of full-time employees. The future of . The study provides in-depth growth factors with future market scenarios Procurement-as-a-service market is projected to reach $20 billion by 2031. What is the future market value for the market? Procurement As A Service Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast - 2022 to 2028 Posted on January 20, 2022 by Ayush Chourey The global procurement as a service market size was valued at USD 5.7 billion in 2018 and is to grow at a compound annual growth rate (CAGR) of 7% from 2022 to 2028. DOWNLOAD PDF. Procurement as a service is constantly growing, but only big companies are capable to put investment in all the features procurement has to provide. Procurement is the process of purchasing goods or services and is usually . [117 Pages Report] The global Procurement as a Service Market size is estimated to grow from USD 5.4 billion in 2019 to USD 7.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period. The Europe Procurement as a Service Market would witness market growth of 6.5% CAGR during the forecast period (2021-2027). The Procurement as a Service (PaaS) Market 2020 report (Germany, United States, Mexico etc) studies global market trends with the historical as well as forecast data. Global Procurement as a Service Market to reach USD 10.04 billion by 2027.Global Procurement as a service Market is valued approximately USD 5.78 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 8.2 % over the forecast period 2021-2027. The global procurement as a service market size was estimated to generate a significant revenue of around USD 6 billion in 2021 and expected to register a significant CAGR of over 10% during the forecast period 2022 to 2028.The increasing consumer demand and the growing number of small and medium-sized enterprises are some of the major factors to drive the market growth. Sales Analysis of Procurement as a Service from 2015 to 2021 Vs Market Outlook for 2022 to 2032. Procurement Freelancers | 10,112 followers on LinkedIn.
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