Dublin, March 28, 2025 (GLOBE NEWSWIRE) -- The "Procurement Outsourcing - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Procurement Outsourcing was valued at US$8 Billion in 2024 and is projected to reach US$17.6 Billion by 2030, growing at a CAGR of 13.9% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the procurement outsourcing market is driven by several factors. One of the primary drivers is the increasing pressure on businesses to reduce costs and improve operational efficiency amidst rising competition and economic uncertainty. Technological advancements, particularly in automation and data analytics, have made procurement outsourcing more efficient and effective, enabling service providers to deliver greater value to their clients.
The globalization of supply chains has also contributed to market growth, as companies seek to manage complex, multi-tiered supplier networks and mitigate risks associated with geopolitical instability and regulatory changes. Additionally, the growing emphasis on sustainability and ethical sourcing has prompted businesses to seek the expertise of procurement firms that can help them navigate these challenges and achieve their corporate social responsibility (CSR) goals. These factors, combined with the rising demand for strategic procurement capabilities and the need for agility in a rapidly changing business environment, are propelling the expansion of the procurement outsourcing market.
In recent years, the procurement outsourcing industry has evolved significantly, driven by advancements in technology and changing business needs. Modern procurement outsourcing firms utilize sophisticated software platforms and data analytics to optimize procurement processes and drive better decision-making.
The integration of artificial intelligence (AI) and machine learning (ML) in procurement solutions has enabled more accurate demand forecasting, risk management, and supplier performance evaluation. Additionally, procurement service providers are increasingly offering end-to-end solutions that cover the entire procurement lifecycle, from strategy development to execution and continuous improvement. This comprehensive approach allows businesses to achieve greater visibility and control over their procurement activities, fostering stronger supplier relationships and improving supply chain resilience.
Procurement outsourcing involves the delegation of a company's procurement functions to a third-party service provider. This practice allows businesses to focus on their core competencies while leveraging the expertise, technology, and global networks of specialized procurement firms. Procurement outsourcing encompasses a wide range of activities, including strategic sourcing, supplier management, contract negotiation, and purchase order management.
Companies adopt procurement outsourcing to achieve cost savings, improve procurement efficiency, and gain access to market intelligence and best practices. By outsourcing procurement, businesses can streamline their supply chains, reduce operating expenses, and enhance overall operational effectiveness, all while ensuring compliance with industry regulations and standards.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Accenture PLC, Capgemini, Corbus, LLC, e-Business International Inc., Everest Global, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Segments
- Service Type (Business Process Outsourcing Services, Consulting Services)
- End-User (BFSI End-User, Manufacturing End-User, Retail End-User, IT & Telecom End-User, Other End-Users)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 301 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $8 Billion |
| Forecasted Market Value (USD) by 2030 | $17.6 Billion |
| Compound Annual Growth Rate | 13.9% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Economic Frontiers: Trends, Trials & Transformations
- Procurement Outsourcing - Global Key Competitors Percentage Market Share in 2025 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E)
MARKET TRENDS & DRIVERS
- Increasing Focus on Cost Reduction Drives Market Growth
- Technological Advancements in Procurement Solutions Propel Market
- Rising Demand for Efficient Supply Chain Management Expands Addressable Market
- Growth in Adoption of Strategic Sourcing Strengthens Business Case
- Expansion of Globalization and Trade Generates Demand
- Development of AI and ML-Driven Procurement Solutions Enhances Market Appeal
- Stringent Compliance and Regulatory Requirements Drive Market
- Advances in Cloud-Based Procurement Platforms Propel Market Growth
- Rising Use in Risk Management and Supplier Relationship Management Spurs Demand
- Increasing Focus on Operational Efficiency and Process Optimization Drives Adoption
- Growth in E-Commerce and Digital Procurement Expands Market Opportunities
- Development of Customizable and Scalable Procurement Solutions Enhances Market Appeal
- Rising Adoption in Healthcare and Pharmaceutical Sectors Expands Market
- Growth in Manufacturing and Automotive Industries Generates New Opportunities
FOCUS ON SELECT PLAYERS:Some of the 61 companies featured in this report
- Accenture PLC
- Capgemini
- Corbus, LLC
- e-Business International Inc.
- Everest Global, Inc.
- Genpact
- GEP
- IBM Corporation
- Infosys BPM Limited
- LBMC Family of Companies
- Premier BPO LLC
- Refteck Solutions USA Inc.
- Tata Consultancy Services Ltd.
- The Hackett Group, Inc.
- Wipro Limited
For more information about this report visit https://www.researchandmarkets.com/r/a4a9as
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