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Global Procurement-as-a-Service Market Research Report to 2027 - Adoption of Analytics Solutions to Improve the Procurement Process Presents Opportunities - ResearchAndMarkets.com

By Business Wire

Business Wire
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DUBLIN--(BUSINESS WIRE)--The "Procurement-as-a-Service Market Research Report by Component (Category Management, Contract Management, and Process Management), Vertical, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.

The Global Procurement-as-a-Service Market size was estimated at USD 6,300.92 million in 2021, USD 6,828.63 million in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.55% to reach USD 10,309.45 million by 2027.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Procurement-as-a-Service Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Procurement-as-a-Service Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Procurement-as-a-Service Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Procurement-as-a-Service Market?

4. What is the competitive strategic window for opportunities in the Global Procurement-as-a-Service Market?

5. What are the technology trends and regulatory frameworks in the Global Procurement-as-a-Service Market?

6. What is the market share of the leading vendors in the Global Procurement-as-a-Service Market?

7. What modes and strategic moves are considered suitable for entering the Global Procurement-as-a-Service Market?

Market Dynamics

Drivers

  • Increasing demand in the organisations to streamline the procurement process
  • Need of the service to handle compliance policies and contracts

Restraints

  • Issues regarding data security and privacy

Opportunities

  • Introduction of machine learning and artificial intelligence for enhanced procurement process
  • Adoption of analytics solutions to improve the procurement process

Challenges

  • Integration issues with the legacy system

Companies Mentioned

  • Accenture PLC
  • Aegis Components Inc.
  • Bain & Company
  • CA Technologies
  • Capgemini SE
  • Corbus, LLC.
  • Coupa Software Inc.
  • DXC Technology
  • Efficio Limited
  • Genpact
  • GEP
  • HCL Technologies Limited
  • Infor, Inc.
  • Infosys Limited
  • International Business Machines Corporation
  • JAGGAER
  • NTT DATA, Inc.
  • Proxima Group
  • Tata Consultancy Services Limited
  • Wipro Group
  • WNS Global Services
  • Xchanging Solutions Limited

For more information about this report visit https://www.researchandmarkets.com/r/767n71


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First published on Thu, Jul 14, 2022

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