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Procurement Outsourcing Services Market analysis (Report 2019-2027): Growing CAGR 15%

February 3, 2020 GMT

Sanjose, CA USA, February, 2020 (Wired Release) Credence Research The overall market for outsourcing procurement services worldwide is set to grow with a CAGR of 15% over the forecast period. The overall market for outsourcing procurement services is strongly driven by a rapidly increasing focus on better customer experience worldwide. Due to increased regulatory compliance across different industries, companies are widely adopting outsourcing procurement services. Procurement outsourcing services enable industries and enterprises to better align their processes and thus improve their operational efficiency. In addition, the services help companies increase customer experience, work on strategic ingenuities and other business activities. Growing demand for outsourcing procurement services in different segments around the globe will drive growth in outsourcing procurement services throughout the forecast period.

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Based on the product, the outsourcing business process segment led the market with a significant contribution to the outsourcing services procurement market revenue. The segment offers services across different end-user segments. Backed by the introduction of new technologies and cost-effective solutions, the outsourcing segment of the business process continues to grow. In addition, the demand-driven business process outsourcing segment will increase with the adoption of developing technologies such as cloud computing, process automation, CRM outsourcing and human resource outsourcing. This shall further drive the growth of procurement outsourcing services market. On the basis of all these factors, we expect the outsourcing segment of the business process to continue to lead the outsourcing services procurement market throughout the forecast period.

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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction to the Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also included]

With the large base of customers using these services in the region, North America is expected to contribute significantly to the growth of the global procurement outsourcing services market in the near future. The European and South American procurement outsourcing services market is expected to follow a similar trend between 2018 and 2026. In addition, the procurement outsourcing services market in APAC and Middle East Africa is likely to expand to a robust CAGR in the coming years.

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Attracted by market success and underlying embryonic demand, many small and large-scale enterprises are taking outsourcing services for procurement. Procurement outsourcing services providers are engaging in new methods of offering services, technology and tools, research and development upgrades, and partnerships with other firms to expand their business. For example, in January 2017, WNS entered into a final agreement to acquire Denali Sourcing Services, a strategic procurement provider for BPM solutions.

Browse Full Report Originally Published by Credence Research at: https://www.credenceresearch.com/report/procurement-outsourcing-services-market

Geographic Coverage

North America Procurement Outsourcing Services Market Revenue and Forecast

Europe Procurement Outsourcing Services Market Revenue and Forecast

Asia Pacific Procurement Outsourcing Services Market Revenue and Forecast

Latin America Procurement Outsourcing Services Market Revenue and Forecast

Middle East and Africa Procurement Outsourcing Services Market Revenue and Forecast

List of Companies Covered:

Accenture PLC, Genpact Ltd., GEP, HCL Technologies, IBM Corporation, Infosys Ltd., WNS Aquanima, Optimum Procurement, Corbus LLC, and others.

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Key questions answered in this report

What was the market size of procurement outsourcing services in 2018 and forecast up to 2027?

Which is the largest regional market for procurement outsourcing services?

What are the major trends followed in overall procurement outsourcing services across different regions?

Who are the key procurement outsourcing services companies leading the market?

What are the key strategies adopted by the leading procurement outsourcing services companies in market?

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Research methodology devised for this study:

Our methodology comprises a blend of primary and secondary research for engineering the market size, shares and estimations for global Procurement Outsourcing Services market specific to key segments, and regional segmentation.

A. Secondary Research

Some of the basic, but most important sources referred during the study included company annual reports, press releases, and relevant documents throwing light upon the recent developments in the global Procurement Outsourcing Services market. Reliable sources such as scientific journals, university research papers and government websites were equally referred for recognizing business opportunities in various geographical markets and market penetration of various products/services. In addition, paid databases were referred to collect information useful for extensive commercial study of the key players operating in Procurement Outsourcing Services market. In case where no data was available on the public domain, we used modeling and estimates to arrive at comprehensive data sets. Secondary research helped to prepare a base for Procurement Outsourcing Services market study.

B. Primary Research

The extensive secondary research carried out was complemented by extensive primary research to validate data and analysis. Primary research involved telephonic interviews, e-mail interactions as well as face-to-face interviews with the leading industry experts.

The participants tracked for primary interviews include:

Vice President/ CEOs

Marketing/product managers

Market intelligence managers

National sales managers

Purchasing managers

Distributors

Other stakeholders

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About Credence Research:

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, nonlegislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, weve manufactured a firm extraordinarily prepared to this task.

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