Procurement Outsourcing Services Market is a process in which a company hires an external so that they can manage their company activities like transaction, purchases etc. This helps the company to focus more on their competitions and manage important business activities. This reduces the overall production cost and improves the business. The procurement activity is divided into two types- direct procurement and indirect procurement. They are used in wide number of industries like healthcare, pharmaceutical, IT and telecom, oil and gas etc. Rising popularity of IT solutions is fuelling the growth of this market.
Global procurement outsourcing services market is set to witness a healthy CAGR of 15.05% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand of procurement outsourcing services from manufacturing and financial industry is major factor for the growth of this market.
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Competitive Analysis: Global Procurement Outsourcing Services Market
Few of the major competitors currently working in Global Procurement Outsourcing Services Market are Accenture, Aegis, Alorica Inc., Capita plc., Concentrix Corporation, Conduent, Inc., Convergys Corporation, Genpact, Hexaware Technologies, TATA CONSULTING SERVICES, Teleperformance, Wipro Limited, TTEC., Corbus, LLC., Infosys Limited, IBM Corporation., WNS (Holdings) Ltd., GEP, McKinsey & Company and others.
Key Pointers Covered in the Global Procurement Outsourcing Services Market Trends and Forecast to 2026
- Global Procurement Outsourcing Services Market New Sales Volumes
- Global Procurement Outsourcing Services Market Replacement Sales Volumes
- Global Procurement Outsourcing Services Market Installed Base
- Global Procurement Outsourcing Services Market By Brands
- Global Procurement Outsourcing Services Market Size
- Global Procurement Outsourcing Services Market Procedure Volumes
- Global Procurement Outsourcing Services Market Product Price Analysis
- Global Procurement Outsourcing Services Market Healthcare Outcomes
- Global Procurement Outsourcing Services Market Cost of Care Analysis
- Global Procurement Outsourcing Services Market Regulatory Framework and Changes
- Global Procurement Outsourcing Services Market Prices and Reimbursement Analysis
- Global Procurement Outsourcing Services Market Shares in Different Regions
- Recent Developments for Global Procurement Outsourcing Services Market Competitors
- Global Procurement Outsourcing Services Market Upcoming Applications
- Global Procurement Outsourcing Services Market Innovators Study
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Key Developments in the Market:
- In January 2018, Inprova Group announced that they have acquired Energy & Carbon Management Ltd. The main aim of the acquisition is to increase the efficiency and decrease the operational cost. This will also help the company to expand them in the energy sector
- In January 2017, WNS Ltd announced that they are going to acquire Denali Sourcing Services so that they can add critical attainment capability to their finance and accounting solutions. This acquisition will help the WNS to enhance their solutions and strengthen themselves in financial and accounting
Market Drivers:
- Increasing prevalence of IT solutions is driving the growth of this market
- Technological development and advancement is another factor driving the market growth.
- Growing demand of procurement outsourcing service from manufacturing and financial industry will also enhance the market
- Increasing requirement to stick to the guidelines and ensure conformity will also propel growth.
Market Restraints:
- Rising space growing between client requirements and organization capability is restraining the growth of this market
- High risk related with outsourcing is restraining the growth of this market
- Complexity associated with the category management will also restrict the growth
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Key insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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