North America Procurement as-a-Service Market

Market Introduction

Management of indirect spending is complicated and labor-intensive and comprises the sourcing of complex goods and services such as IT, facilities management, marketing, and professional services. Advanced analytics, digital technologies, and reimagined business processes are being used in order to enhance the procurement and supply chain experience, boost customer satisfaction, and free up working capital. Procurement as a service includes a combination of people, technology, and expertise to purchase part of an enterprise's procurement operations.

North America Procurement as-a-Service Strategic Insights

Strategic insights for the North America Procurement as-a-Service provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Procurement as-a-Service Report Scope

North America Procurement as-a-Service Regional Insights

The geographic scope of the North America Procurement as-a-Service refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The North America procurement as-a-service market is expected to reach US$ 1430.4 million by 2027 from US$ 1059.4 million in 2019, at a CAGR of 4.94% from 2020 to 2027. The procurement departments of enterprises across the North America are presently focusing to explore the area of procurement outsourcing in order to achieve the business goals. Additionally, the evolution of BPO and rising focus on offering customizable services are driving the growth of the market.

However, due to COVID-19 outbreak economic and industrial growth of North America countries has been affected negatively in the past few months. The North America comprises of many growing economies which are prospective markets for procurement as-a-service vendors. Hence, any impact on the region’s economy or growth of industries is expected to have a negative impact on the companies operating in this region. Hence, the ongoing COVID-19 crisis and critical situation is going to impact the procurement as-a-service market growth in North America region in a negative manner.

Key Market Segments

In terms of component, the spend management segment accounted for a larger share of the North America procurement as-a-service market in 2019. In terms of enterprise size, the large enterprise segment held the largest market share of in 2019. Further, the manufacturing segment accounted for the largest share of the market based on end user in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the procurement as-a-service market in North America are company websites, annual reports, financial reports, national government documents, and statistical database. Major companies listed in the report are Accenture.; CAPGEMINI SE; Corbus, LLC; Genpact Ltd, and IBM Corporation among others.

Reasons to Buy Report

• Understand the North America procurement as-a-service market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive market landscape
• Efficiently plan merger and acquisition, and partnership deals in the North America procurement as-a-service market by identifying market segments with the most promising probable sales
• Make knowledgeable business decisions from perceptive and comprehensive analysis of the performance of various market segment
• Obtain revenue forecast for the North America procurement as-a-service market based on various segments for the period 2020–2027

NORTH AMERICA PROCUREMENT AS-A-SERVICE MARKET SEGMENTATION

North America Procurement as-a-Service Market – by Component

• Strategic Sourcing
• Spend Management
• Category Management
• Process Management
• Contract Management
• Transaction Management

North America Procurement as-a-Service Market – by Enterprise Size

• SMEs
• Large Enterprises

North America Procurement as-a-Service Market – by End User Industry

• IT and Telecom
• Consumer Goods and Retail
• Manufacturing
• Energy and Utility
• Healthcare
• Hospitality and Tourism
• Others

North America Procurement as-a-Service Market – by Country

• United States
• Canada
• Mexico

Company Profiles

• Accenture
• CAPGEMINI SE
• Corbus, LLC
• Genpact Ltd
• GEP
• HCL Technologies
• IBM Corporation
• Infosys Ltd
• Wipro Limited
• WNS (Holdings) Limited