Procure to pay (purchase to pay or P2P) is the process of obtaining and managing the raw materials needed for manufacturing a product or providing a service. It involves the transactional flow of data that is sent to a supplier as well as the data that surrounds the fulfillment of the actual order and payment for the product or service, the transfer of specified key procurement activities relating to sourcing and supplier management to a third party ? perhaps to reduce overall costs or maybe to tighten the company’s focus on its core competencies. Procurement categorisation and vendor management of indirect materials and services (commonly referred to as Indirect procurement) are typically the most popular outsourced activity.
Global Procurement Outsourcing main players are IBM, Accenture, GEP, Infosys, etc. Global top four manufacturers hold a share over 60%. North America is the largest market, with a share nearly 45%.
Market Analysis and Insights: Global Procurement Outsourcing Market
The global Procurement Outsourcing market size is projected to reach US$ 8696.9 million by 2027, from US$ 4008.6 million in 2020, at a CAGR of 11.7% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Procurement Outsourcing market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Procurement Outsourcing market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Procurement Outsourcing market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Procurement Outsourcing market.
Global Procurement Outsourcing Scope and Market Size
Procurement Outsourcing market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Procurement Outsourcing market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.
Segment by Type
- Direct Procurement
- Indirect Procurement
Segment by Application
- CPG and Retail
- BFSI Sector
- North America
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
Reasons to Purchase Our Research Report:
- Analyzing the outlook of the market with the recent trends and SWOT analysis
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- Regional and country-level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- Analyst support, along with the data support in excel format.
Table of content
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Procurement Outsourcing Market Size Growth Rate by Type: 2016 VS 2021 VS 2027
1.2.2 Direct Procurement
1.2.3 Indirect Procurement
1.3 Market by Application
1.3.1 Global Procurement Outsourcing Market Share by Application: 2016 VS 2021 VS 2027
1.3.2 CPG and Retail
1.3.3 BFSI Sector
1.4 Study Objectives
1.5 Years Considered
2 Global Growth Trends
2.1 Global Procurement Outsourcing Market Perspective (2016-2027)
2.2 Procurement Outsourcing Growth Trends by Regions
2.2.1 Procurement Outsourcing Market Size by Regions: 2016 VS 2021 VS 2027
2.2.2 Procurement Outsourcing Historic Market Share by Regions (2016-2021)
2.2.3 Procurement Outsourcing Forecasted Market Size by Regions (2022-2027)
2.3 Procurement Outsourcing Industry Dynamic
2.3.1 Procurement Outsourcing Market Trends
2.3.2 Procurement Outsourcing Market Drivers
2.3.3 Procurement Outsourcing Market Challenges
2.3.4 Procurement Outsourcing Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Procurement Outsourcing Players by Revenue
3.1.1 Global Top Procurement Outsourcing Players by Revenue (2016-2021)
3.1.2 Global Procurement Outsourcing Revenue Market Share by Players (2016-2021)
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