North America Procurement as-a-Service Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Strategic Sourcing, Spend Management, Category Management, Process Management, Contract Management, Transaction Management); Enterprise Size (SMEs, Large Enterprises); End-User Industry (IT and Telecom, Consumer Goods and Retail, Manufacturing, Energy and Utility, Healthcare, Hospitality and Tourism, Others); and Country
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.
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Market Overview and Dynamics
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
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Procurement As-a-Service Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Ecosystem Analysis
4.3 Expert Opinion
5. Procurement As-a-Service Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Industries focusing on outsourcing their procurement operations to reduce operational costs involved in procurement activities
5.1.2 Positive impact of BPO evolution and rising focus on offering customizable services
5.2 Market Restraint
5.2.1 Increase in cyber crimes
5.3 Market Opportunity
5.3.1 Enhance procurement performance and reduce operational costs to provide lucrative business opportunities for the market
5.4 Future Trend
5.4.1 Advent of artificial intelligence (AI) in the procurement
5.5 Impact Analysis of Drivers and Restraints
6. Procurement As-a-Service – North America Market Analysis
6.1 Procurement As-a-Service Market Overview
6.1.1 North America: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)
7. Procurement As-a-Service Market Analysis – By Component
7.1 Overview
7.2 Procurement As-a-Service Market, By Component (2019 and 2027)
7.3 Strategic Sourcing
7.3.1 Overview
7.3.2 Strategic Sourcing: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Spend Management
7.4.1 Overview
7.4.2 Spend Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
7.5 Category Management
7.5.1 Overview
7.5.2 Category Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
7.6 Process Management
7.6.1 Overview
7.6.2 Process Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
7.7 Contract Management
7.7.1 Overview
7.7.2 Contract Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
7.8 Transaction Management
7.8.1 Overview
7.8.2 Transaction Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
8. Procurement As-a-Service Market Analysis – By Enterprise Size
8.1 Overview
8.2 Procurement As-a-Service Market, By Enterprise Size (2019 and 2027)
8.3 SMEs
8.3.1 Overview
8.3.2 SMEs: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Large Enterprises
8.4.1 Overview
8.4.2 Large Enterprises: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
9. Procurement as-a-Service Market Analysis – By End-User Industry
9.1 Overview
9.2 Procurement as-a-Service Market, By End-User Industry (2019 and 2027)
9.3 IT and Telecom
9.3.1 Overview
9.3.2 IT and Telecom: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.4 Consumer Goods and Retail
9.4.1 Overview
9.4.2 Consumer Goods and Retail: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.5 Manufacturing
9.5.1 Overview
9.5.2 Manufacturing: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.6 Energy and Utility
9.6.1 Overview
9.6.2 Energy and Utility: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.7 Healthcare
9.7.1 Overview
9.7.2 Healthcare: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.8 Hospitality and Tourism
9.8.1 Overview
9.8.2 Hospitality and Tourism: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.9 Others
9.9.1 Overview
9.9.2 Others: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
10. Procurement as-a-Service Market – Country Analysis
10.1.1 North America: Procurement as-a-Service Market, by Key Country
10.1.1.1 US: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 US: Procurement as-a-Service Market, by Component
10.1.1.1.2 US: Procurement as-a-Service Market, by Enterprise Size
10.1.1.1.3 US: Procurement as-a-Service Market, by End-User Industry
10.1.1.2 Canada: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 Canada: Procurement as-a-Service Market, by Component
10.1.1.2.2 Canada: Procurement as-a-Service Market, by Enterprise Size
10.1.1.2.3 Canada: Procurement as-a-Service Market, by End-User Industry
10.1.1.3 Mexico: Procurement as-a-Service Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Mexico: Procurement as-a-Service Market, by Component
10.1.1.3.2 Mexico: Procurement as-a-Service Market, by Enterprise Size
10.1.1.3.3 Mexico: Procurement as-a-Service Market, by End-User Industry
11. Impact of COVID-19 Pandemic on North America Procurement as-a Service Market
11.1.1 North America: Impact Assessment of COVID-19 Pandemic
12. North America Procurement as-a-Service Market-Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
13. Company Profiles
13.1 Accenture
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 CAPGEMINI SE
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Corbus, LLC
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Genpact Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 GEP
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 HCL Technologies
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 IBM Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Infosys Ltd.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Wipro Limited
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 WNS (Holdings) Limited
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. North America : Procurement as-a-Service Market, by Country – Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 4. US: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)
Table 5. US: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)
Table 8. Canada: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico: Procurement as-a-Service Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 10. Mexico: Procurement as-a-Service Market, by Enterprise Size –Revenue and Forecast to 2027 (US$ Million)
Table 11. Mexico: Procurement as-a-Service Market, by End-User Industry –Revenue and Forecast to 2027 (US$ Million)
Table 12. Glossary of Term: Procurement as-a-Service Market
LIST OF FIGURES
Figure 1. Procurement as-a-Service Market Segmentation
Figure 2. Procurement as-a-Service Market Segmentation – By Country
Figure 3. North America Procurement As-a-Service Market Overview
Figure 4. North America Procurement As-a-Service Market – Component Analysis
Figure 5. North America Procurement As-a-Service Market – Enterprise Size Analysis
Figure 6. North America – PEST Analysis
Figure 7. Procurement As-a-Service Market – Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Procurement As-a-Service Market Impact Analysis of Drivers And Restraints
Country Overview of Procurement As-a-Service Market
Figure 1. North America: Procurement as-a-Service Market – Revenue and Forecast To 2027 (US$ Million)
Figure 2. Procurement As-a-Service Market Revenue Share, by Component (2019 and 2027)
Figure 3. Strategic Sourcing: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 4. Spend Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 5. Category Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 6. Process Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 7. Contract Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 8. Transaction Management: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 9. Procurement As-a-Service Market Revenue Share, by Enterprise Size (2019 and 2027)
Figure 10. SMEs: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 11. Large Enterprises: Procurement As-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 12. Procurement as-a-Service Market Revenue Share, by End-User Industry (2019 and 2027)
Figure 13. IT and Telecom: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. Consumer Goods and Retail: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. Manufacturing: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. Energy and Utility: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 17. Healthcare: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. Hospitality and Tourism: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. Others: Procurement as-a-Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. North America: Procurement as-a-Service Market Revenue Share, By Key Country (2019 and 2027)
Figure 21. US: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)
Figure 22. Canada: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)
Figure 23. Mexico: Procurement as-a-Service Market – Revenue And Forecast To 2027 (US$ Million)
Figure 24. Impact of COVID-19 Pandemic In North American Country Markets
- Accenture
- CAPGEMINI SE
- Corbus, LLC
- Genpact Ltd
- GEP
- HCL Technologies
- IBM Corporation
- Infosys Ltd
- Wipro Limited
- WNS (Holdings) Limited
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America procurements as-a-service market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America procurements as-a-service market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution