Procurement Outsourcing 2017 Global Market Expected to Grow at CAGR 14.97% and Forecast to 2021

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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.

Technavio’s 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.

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?

 

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 
Competitive scenario 
Other prominent vendors 
PART 15: Key vendor analysis 
Accenture 
Capgemini 
Genpact 
GEP 
IBM 
Xchanging 

 Continued…….

 

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