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Procurement Outsourcing Market By Component (Solution, Service), By Deployment (On-premise, Cloud) By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises) By Industry Vertical (Banking Financial Services & Insurance (BFSI), Healthcare, IT & Telecommunication) : Global Opportunity Analysis and Industry Forecast, 2024-2032

June 2024 | 303 pages | ID: P4BD9614AF39EN
Allied Market Research

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The procurement outsourcing market was valued at $6,395.03 million 2023 and is estimated t%li%reach $16,113.24 million by 2032, exhibiting a CAGR of 11.0% from 2024 t%li%2032.

Procurement outsourcing is the practice of assigning certain procurement responsibilities, including sourcing, category management, and transaction management, t%li%a procurement BPO provider. This involves choosing an external third-party partner t%li%manage and provide procurement services. Initially, procurement outsourcing only covered transactional purchase-to-pay processes, now businesses outsource complete category management of non-core spending areas t%li%a third party. By adopting procurement outsourcing, companies streamline their workforce without major disruptions t%li%their daily operations.

The expansion of the global procurement outsourcing sector is attributed t%li%various factors, including rise in demand for enhanced efficiency & productivity and utilization of AI & ML. In recent time, procurement solutions utilizing AI algorithms are trending as they analyze supplier data, optimize sourcing strategies, and predict market trends, thereby revolutionizing the procurement dynamics with smart automation and data-driven insights.

However, loss of control and visibility poses a significant challenge for the procurement outsourcing market. When companies delegate their procurement processes t%li%external providers, they lack direct supervision, leading t%li%a range of concerns. These concerns encompass transparency, accountability, and alignment with organizational goals. Contrarily, surge in demand for strategic sourcing is expected t%li%provide ample opportunities for market growth during the forecast period. Strategic sourcing involves a systematic and forward-thinking strategy for identifying, evaluating, and selecting suppliers t%li%improve cost-efficiency, quality, and overall performance. For instance, in February 2024, Accenture acquired Insight Sourcing, a well-known strategic sourcing and procurement services provider. This acquisition is expected t%li%broaden Accenture's offerings in sourcing and procurement services for private equity firms and the consumer goods, retail, technology, and industrial sectors.

Segmentation Overview

The procurement outsourcing market is segmented int%li%component, deployment, organization size, industry vertical, and region. Depending on the component, the market is bifurcated int%li%solution and services. According t%li%deployment, it is segregated int%li%on-premise and cloud. As per organization size, the market is divided int%li%large enterprises and small and medium-sized enterprises. By industry vertical, it is classified int%li%BFSI, healthcare, IT & telecommunication, and manufacturing. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Key Findings

By component, the solution segment acquired the highest market share in 2023.

Depending on deployment, the cloud segment held the largest share in the market in 2023.

According t%li%organization size, the large enterprises segment has captured the major share in the market in 2023.

As per industry vertical, the BFSI segment held the largest market share in 2023.

Region wise, North America dominated the procurement outsourcing market in 2023.

Competitive Scenario

The major players operating in the procurement outsourcing market include Accenture, IBM Corporation, Infosys, Capgemini, Genpact, Wipr%li%Limited, WNS, Corbus LLC, HCL Technologies Limited, and Tata Consultancy Services. These market players have adopted several strategies t%li%maintain their foothold in the market, including mergers & acquisitions, collaborations, partnerships, new product development, and R&D.

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Possible Customization with this report (with additional cost and timeline, please talk t%li%the sales executive t%li%know more)
  • End user preferences and pain points
  • Industry life cycle assessment, by region
  • Product Life Cycles
    • Scenari%li%Analysis & Growth Trend Comparison
  • Supply Chain Analysis & Vendor Margins
  • Technology Trend Analysis
      • G%li%T%li%Market Strategy
  • Market share analysis of players by products/segments
  • Pain Point Analysis
  • Regulatory Guidelines
  • Strategic Recommendations
    • Additional company profiles with specific t%li%client's interest
  • Additional country or region analysis- market size and forecast
  • Brands Share Analysis
  • Criss-cross segment analysis- market size and forecast
  • Expanded list for Company Profiles
  • Historic market data
  • Market share analysis of players at global/region/country level
  • SWOT Analysis
Key Market Segments

By Component
  • Solution
  • Service
By Deployment
  • On-premise
  • Cloud
By Organization Size
  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises
By Industry Vertical
  • Banking Financial Services Insurance (BFSI)
  • Healthcare
  • IT Telecommunication
By Region
  • North America
  • U.S.
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • Latin America
  • Argentina
  • Brazil
  • Colombia
  • Rest of Latin America
  • Middle East Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East Africa
  • Key Market Players
  • Accenture
  • IBM Corporation
  • Infosys
  • Capgemini
  • Genpact
    • Wipr%li%Limited
  • WNS
  • HCL Technologies Limited
  • Tata Consultancy Services
  • GEP
CHAPTER 1: INTRODUCTION

1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
  1.4.1. Primary Research
  1.4.2. Secondary Research
  1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope
3.2. Key Findings
  3.2.1. Top Investment Pockets
  3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
  3.3.1. Bargaining Power of Suppliers
  3.3.2. Threat of New Entrants
  3.3.3. Threat of Substitutes
  3.3.4. Competitive Rivalry
  3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
  3.4.1. Drivers
  3.4.2. Restraints
  3.4.3. Opportunities

CHAPTER 4: ALUMINUM WIRE BATTERY MARKET, BY TYPE

4.1. Market Overview
  4.1.1 Market Size and Forecast, By Type
4.2. Single-use Batteries
  4.2.1. Key Market Trends, Growth Factors and Opportunities
  4.2.2. Market Size and Forecast, By Region
  4.2.3. Market Share Analysis, By Country
4.3. Rechargeable Batteries
  4.3.1. Key Market Trends, Growth Factors and Opportunities
  4.3.2. Market Size and Forecast, By Region
  4.3.3. Market Share Analysis, By Country

CHAPTER 5: ALUMINUM WIRE BATTERY MARKET, BY APPLICATION

5.1. Market Overview
  5.1.1 Market Size and Forecast, By Application
5.2. Building And Construction
  5.2.1. Key Market Trends, Growth Factors and Opportunities
  5.2.2. Market Size and Forecast, By Region
  5.2.3. Market Share Analysis, By Country
5.3. Automotive And Transportation
  5.3.1. Key Market Trends, Growth Factors and Opportunities
  5.3.2. Market Size and Forecast, By Region
  5.3.3. Market Share Analysis, By Country
5.4. Electrical And Electronics
  5.4.1. Key Market Trends, Growth Factors and Opportunities
  5.4.2. Market Size and Forecast, By Region
  5.4.3. Market Share Analysis, By Country
5.5. Telecommunication
  5.5.1. Key Market Trends, Growth Factors and Opportunities
  5.5.2. Market Size and Forecast, By Region
  5.5.3. Market Share Analysis, By Country
5.6. Power And Energy
  5.6.1. Key Market Trends, Growth Factors and Opportunities
  5.6.2. Market Size and Forecast, By Region
  5.6.3. Market Share Analysis, By Country
5.7. Others
  5.7.1. Key Market Trends, Growth Factors and Opportunities
  5.7.2. Market Size and Forecast, By Region
  5.7.3. Market Share Analysis, By Country

CHAPTER 6: ALUMINUM WIRE BATTERY MARKET, BY REGION

6.1. Market Overview
  6.1.1 Market Size and Forecast, By Region
6.2. North America
  6.2.1. Key Market Trends and Opportunities
  6.2.2. Market Size and Forecast, By Type
  6.2.3. Market Size and Forecast, By Application
  6.2.4. Market Size and Forecast, By Country
  6.2.5. U.S. Aluminum Wire Battery Market
    6.2.5.1. Market Size and Forecast, By Type
    6.2.5.2. Market Size and Forecast, By Application
  6.2.6. Canada Aluminum Wire Battery Market
    6.2.6.1. Market Size and Forecast, By Type
    6.2.6.2. Market Size and Forecast, By Application
  6.2.7. Mexico Aluminum Wire Battery Market
    6.2.7.1. Market Size and Forecast, By Type
    6.2.7.2. Market Size and Forecast, By Application
6.3. Europe
  6.3.1. Key Market Trends and Opportunities
  6.3.2. Market Size and Forecast, By Type
  6.3.3. Market Size and Forecast, By Application
  6.3.4. Market Size and Forecast, By Country
  6.3.5. France Aluminum Wire Battery Market
    6.3.5.1. Market Size and Forecast, By Type
    6.3.5.2. Market Size and Forecast, By Application
  6.3.6. Germany Aluminum Wire Battery Market
    6.3.6.1. Market Size and Forecast, By Type
    6.3.6.2. Market Size and Forecast, By Application
  6.3.7. Italy Aluminum Wire Battery Market
    6.3.7.1. Market Size and Forecast, By Type
    6.3.7.2. Market Size and Forecast, By Application
  6.3.8. Spain Aluminum Wire Battery Market
    6.3.8.1. Market Size and Forecast, By Type
    6.3.8.2. Market Size and Forecast, By Application
  6.3.9. UK Aluminum Wire Battery Market
    6.3.9.1. Market Size and Forecast, By Type
    6.3.9.2. Market Size and Forecast, By Application
  6.3.10. Rest of Europe Aluminum Wire Battery Market
    6.3.10.1. Market Size and Forecast, By Type
    6.3.10.2. Market Size and Forecast, By Application
6.4. Asia-Pacific
  6.4.1. Key Market Trends and Opportunities
  6.4.2. Market Size and Forecast, By Type
  6.4.3. Market Size and Forecast, By Application
  6.4.4. Market Size and Forecast, By Country
  6.4.5. China Aluminum Wire Battery Market
    6.4.5.1. Market Size and Forecast, By Type
    6.4.5.2. Market Size and Forecast, By Application
  6.4.6. Japan Aluminum Wire Battery Market
    6.4.6.1. Market Size and Forecast, By Type
    6.4.6.2. Market Size and Forecast, By Application
  6.4.7. India Aluminum Wire Battery Market
    6.4.7.1. Market Size and Forecast, By Type
    6.4.7.2. Market Size and Forecast, By Application
  6.4.8. South Korea Aluminum Wire Battery Market
    6.4.8.1. Market Size and Forecast, By Type
    6.4.8.2. Market Size and Forecast, By Application
  6.4.9. Australia Aluminum Wire Battery Market
    6.4.9.1. Market Size and Forecast, By Type
    6.4.9.2. Market Size and Forecast, By Application
  6.4.10. Rest of Asia-Pacific Aluminum Wire Battery Market
    6.4.10.1. Market Size and Forecast, By Type
    6.4.10.2. Market Size and Forecast, By Application
6.5. LAMEA
  6.5.1. Key Market Trends and Opportunities
  6.5.2. Market Size and Forecast, By Type
  6.5.3. Market Size and Forecast, By Application
  6.5.4. Market Size and Forecast, By Country
  6.5.5. Brazil Aluminum Wire Battery Market
    6.5.5.1. Market Size and Forecast, By Type
    6.5.5.2. Market Size and Forecast, By Application
  6.5.6. South Africa Aluminum Wire Battery Market
    6.5.6.1. Market Size and Forecast, By Type
    6.5.6.2. Market Size and Forecast, By Application
  6.5.7. Saudi Arabia Aluminum Wire Battery Market
    6.5.7.1. Market Size and Forecast, By Type
    6.5.7.2. Market Size and Forecast, By Application
  6.5.8. Rest of LAMEA Aluminum Wire Battery Market
    6.5.8.1. Market Size and Forecast, By Type
    6.5.8.2. Market Size and Forecast, By Application

CHAPTER 7: COMPETITIVE LANDSCAPE

7.1. Introduction
7.2. Top Winning Strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top Player Positioning, 2023

CHAPTER 8: COMPANY PROFILES

8.1. Supreme Batteries Pvt. Ltd.
  8.1.1. Company Overview
  8.1.2. Key Executives
  8.1.3. Company Snapshot
  8.1.4. Operating Business Segments
  8.1.5. Product Portfolio
  8.1.6. Business Performance
  8.1.7. Key Strategic Moves and Developments
8.2. Norsk Hydro ASA
  8.2.1. Company Overview
  8.2.2. Key Executives
  8.2.3. Company Snapshot
  8.2.4. Operating Business Segments
  8.2.5. Product Portfolio
  8.2.6. Business Performance
  8.2.7. Key Strategic Moves and Developments
8.3. Encore Wire Corporation
  8.3.1. Company Overview
  8.3.2. Key Executives
  8.3.3. Company Snapshot
  8.3.4. Operating Business Segments
  8.3.5. Product Portfolio
  8.3.6. Business Performance
  8.3.7. Key Strategic Moves and Developments
8.4. Southwire Company, LLC
  8.4.1. Company Overview
  8.4.2. Key Executives
  8.4.3. Company Snapshot
  8.4.4. Operating Business Segments
  8.4.5. Product Portfolio
  8.4.6. Business Performance
  8.4.7. Key Strategic Moves and Developments
8.5. Alcoa Corporation
  8.5.1. Company Overview
  8.5.2. Key Executives
  8.5.3. Company Snapshot
  8.5.4. Operating Business Segments
  8.5.5. Product Portfolio
  8.5.6. Business Performance
  8.5.7. Key Strategic Moves and Developments
8.6. Phinergy
  8.6.1. Company Overview
  8.6.2. Key Executives
  8.6.3. Company Snapshot
  8.6.4. Operating Business Segments
  8.6.5. Product Portfolio
  8.6.6. Business Performance
  8.6.7. Key Strategic Moves and Developments
8.7. Kaiser Aluminum Corporation
  8.7.1. Company Overview
  8.7.2. Key Executives
  8.7.3. Company Snapshot
  8.7.4. Operating Business Segments
  8.7.5. Product Portfolio
  8.7.6. Business Performance
  8.7.7. Key Strategic Moves and Developments
8.8. GP Batteries International Limited
  8.8.1. Company Overview
  8.8.2. Key Executives
  8.8.3. Company Snapshot
  8.8.4. Operating Business Segments
  8.8.5. Product Portfolio
  8.8.6. Business Performance
  8.8.7. Key Strategic Moves and Developments
8.9. Elkem ASA
  8.9.1. Company Overview
  8.9.2. Key Executives
  8.9.3. Company Snapshot
  8.9.4. Operating Business Segments
  8.9.5. Product Portfolio
  8.9.6. Business Performance
  8.9.7. Key Strategic Moves and Developments
8.10. Nippon Chemical Industrial CO., LTD.
  8.10.1. Company Overview
  8.10.2. Key Executives
  8.10.3. Company Snapshot
  8.10.4. Operating Business Segments
  8.10.5. Product Portfolio
  8.10.6. Business Performance
  8.10.7. Key Strategic Moves and Developments


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