Procurement Outsourcing Market

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.

Procurement Outsourcing Market contains market size and forecasts of Procurement Outsourcing in Global, including the following market information:

Global Procurement Outsourcing Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global top five companies in 2021 (%)

The global Procurement Outsourcing market was valued at 4607.2 million in 2021 and is projected to reach US$ 9684.7 million by 2028, at a CAGR of 11.2% during the forecast period.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

Direct Procurement Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Procurement Outsourcing include IBM, Accenture, GEP, Infosys, Capgemini, Genpact, TCS, Xchanging and WNS. etc. In 2021, the global top five players have a share approximately % in terms of revenue.

We surveyed the Procurement Outsourcing companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Procurement Outsourcing Market, by Type, 2017-2022, 2023-2028 ($ millions)

Global Procurement Outsourcing Market Segment Percentages, by Type, 2021 (%)

Direct Procurement

Indirect Procurement

Global Procurement Outsourcing Market, by Application, 2017-2022, 2023-2028 ($ millions)

Global Procurement Outsourcing Market Segment Percentages, by Application, 2021 (%)

CPG and Retail

BFSI Sector

Global Procurement Outsourcing Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)

Global Procurement Outsourcing Market Segment Percentages, By Region and Country, 2021 (%)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Benelux

Rest of Europe

Asia

China

Japan

South Korea

Southeast Asia

India

Rest of Asia

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Turkey

Israel

Saudi Arabia

UAE

Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Procurement Outsourcing revenues in global market, 2017-2022 (estimated), ($ millions)

Key companies Procurement Outsourcing revenues share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players include:

IBM

Accenture

GEP

Infosys

Capgemini

Genpact

TCS

Xchanging

WNS