The Asia Pacific Procurement as a Service Market would witness market growth of 10.2% CAGR during the forecast period (2021-2027).
Procurement as a service refers to an outsource procurement model having the expertise to manage the procurement activities of a company with the help of technology. In modern times, various companies are dependent significantly on digital technology to perform sourcing and procurement functions while monitoring payments and purchases. There is high popularity of the use of digital technologies to automate the different kinds of activities, and this trend will positively impact the growth of the market during the forecast period. The incorporation of technology that allows strategic sourcing and supplier management to become proactive and predictive will play a major role in cutting down the operating costs. As a service vendor, the goal of procurement is to harness the new technology in order to assist companies in predicting better regarding sourcing and procurement will support the demand during the forecast period.
The procurement as a service market would showcase a massive demand throughout the forecast years. One of the major catalysts for the growth of the global market is the growing need among companies to reduce the cost associated with procurement activities and simplify procurement activities. In addition to it, the market would witness massive growth & demand due to the surge in the penetration of advanced technologies like artificial intelligence. With increasing competition at the worldwide level, the supply chains are deploying advanced processes to facilitate productivity and business operations. There has been an advent of customized offerings, which has encouraged the service vendors to switch their business towards the “as-a-service” model.
Asia-Pacific region is proactive in deploying the new technologies and installing them in several industries. Enterprises across many businesses in the region like manufacturing, retail, and utility industries, have started to deploy new technologies like IoT, and AI with an aim to improve business operations and customer services. These factors are set to boost the further development of regional procurement as a service market in the forthcoming years.
Procurement is one of the most essential and complicated business processes in SMEs and large enterprises, as this business function is accountable for several daily operations of the enterprises. The business process outsourcing (BPO) sector is a highly matured industry and it aims at offering significant cost advantages without hindering the value provided to the business stakeholders, and hence, focusing on collaboration with service vendors. Europe is a significant manufacturing and industrial hub for various industrial sectors like aerospace & defense, IT, energy & power, automotive, pharmaceuticals, and food & beverages. Therefore, owing to the COVID-19 scenario, business lockdowns, travel bans, and supply chain disturbances, the economy and industrial development of the region have witnessed a declining trend in the last couple of months. This would slow down the growth of the regional market.
The China market dominated the Asia Pacific BFSI Procurement as a Service Market by Country 2020, thereby, achieving a market value of $98.1 million by 2027. The Japan market is showcasing a CAGR of 10.8% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 12% during (2021 - 2027).
Based on Component, the market is segmented into Strategic Sourcing, Process Management, Category Management, Transaction Management, Spend Management, Contract Management, and Others. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprise. Based on Application, the market is segmented into Manufacturing, Retail, BFSI, Healthcare, IT & Telecom and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Procurement as a Service Market is Projected to reach USD 10.3 Billion by 2027, at a CAGR of 7.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Accenture PLC, Broadcom, Inc., HCL Technologies Ltd. (HCL Enterprises), Genpact Limited, Infosys Limited, Wipro Limited, Tata Consultancy Services Ltd., GEP, and WNS (Holdings) Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Strategic Sourcing
- Process Management
- Category Management
- Transaction Management
- Spend Management
- Contract Management
- Others
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprise
By Application
- Manufacturing
- Retail
- BFSI
- Healthcare
- IT & Telecom
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Accenture PLC
- Broadcom, Inc.
- HCL Technologies Ltd. (HCL Enterprises)
- Genpact Limited
- Infosys Limited
- Wipro Limited
- Tata Consultancy Services Ltd.
- GEP
- WNS (Holdings) Ltd.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Procurement As A Service Market, by Component
1.4.2 Asia Pacific Procurement As A Service Market, by Enterprise Size
1.4.3 Asia Pacific Procurement As A Service Market, by Application
1.4.4 Asia Pacific Procurement As A Service Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2017, Jan – 2021, May) Leading Players
Chapter 4. Asia Pacific Procurement as a Service Market by Component
4.1 Asia Pacific Strategic Sourcing Procurement as a Service Market by Country
4.2 Asia Pacific Process Management Procurement as a Service Market by Country
4.3 Asia Pacific Category Management Procurement as a Service Market by Country
4.4 Asia Pacific Transaction Management Procurement as a Service Market by Country
4.5 Asia Pacific Spend Management Procurement as a Service Market by Country
4.6 Asia Pacific Contract Management Procurement as a Service Market by Country
4.7 Asia Pacific Other Component Procurement as a Service Market by Country
Chapter 5. Asia Pacific Procurement as a Service Market by Enterprise Size
5.1 Asia Pacific Procurement as a Service Large Enterprises Market by Country
5.2 Asia Pacific Procurement as a Service Small & Medium Enterprise Market by Country
Chapter 6. Asia Pacific Procurement as a Service Market by Application
6.1 Asia Pacific Manufacturing Procurement as a Service Market by Country
6.2 Asia Pacific Retail Procurement as a Service Market by Country
6.3 Asia Pacific BFSI Procurement as a Service Market by Country
6.4 Asia Pacific Healthcare Procurement as a Service Market by Country
6.5 Asia Pacific IT & Telecom Procurement as a Service Market by Country
6.6 Asia Pacific Others Procurement as a Service Market by Country
Chapter 7. Asia Pacific Procurement as a Service Market by Country
7.1 China Procurement as a Service Market
7.1.1 China Procurement as a Service Market by Component
7.1.2 China Procurement as a Service Market by Enterprise Size
7.1.3 China Procurement as a Service Market by Application
7.2 Japan Procurement as a Service Market
7.2.1 Japan Procurement as a Service Market by Component
7.2.2 Japan Procurement as a Service Market by Enterprise Size
7.2.3 Japan Procurement as a Service Market by Application
7.3 India Procurement as a Service Market
7.3.1 India Procurement as a Service Market by Component
7.3.2 India Procurement as a Service Market by Enterprise Size
7.3.3 India Procurement as a Service Market by Application
7.4 South Korea Procurement as a Service Market
7.4.1 South Korea Procurement as a Service Market by Component
7.4.2 South Korea Procurement as a Service Market by Enterprise Size
7.4.3 South Korea Procurement as a Service Market by Application
7.5 Singapore Procurement as a Service Market
7.5.1 Singapore Procurement as a Service Market by Component
7.5.2 Singapore Procurement as a Service Market by Enterprise Size
7.5.3 Singapore Procurement as a Service Market by Application
7.6 Malaysia Procurement as a Service Market
7.6.1 Malaysia Procurement as a Service Market by Component
7.6.2 Malaysia Procurement as a Service Market by Enterprise Size
7.6.3 Malaysia Procurement as a Service Market by Application
7.7 Rest of Asia Pacific Procurement as a Service Market
7.7.1 Rest of Asia Pacific Procurement as a Service Market by Component
7.7.2 Rest of Asia Pacific Procurement as a Service Market by Enterprise Size
7.7.3 Rest of Asia Pacific Procurement as a Service Market by Application
Chapter 8. Company Profiles
8.1 IBM Corporation
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional & Segmental Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 Accenture PLC
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.6 SWOT Analysis
8.3 Broadcom, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 SWOT Analysis
8.4 HCL Technologies Ltd. (HCL Enterprises)
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Acquisition and Mergers:
8.4.6 SWOT Analysis
8.5 Genpact Limited
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Recent strategies and developments:
8.5.4.1 Partnerships, Collaborations, and Agreements:
8.5.4.2 Acquisition and Mergers:
8.6 Infosys Limited
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Partnerships, Collaborations, and Agreements:
8.6.5.2 Acquisition and Mergers:
8.6.6 SWOT Analysis
8.7 Wipro Limited
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research and Development Expense
8.7.5 Recent strategies and developments:
8.7.5.1 Partnerships, Collaborations, and Agreements:
8.7.5.2 Acquisition and Mergers:
8.7.6 SWOT Analysis
8.8 Tata Consultancy Services Ltd.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Recent strategies and developments:
8.8.4.1 Partnerships, Collaborations, and Agreements:
8.8.5 SWOT Analysis
8.9 GEP
8.9.1 Company Overview
8.9.2 Recent strategies and developments:
8.9.2.1 Partnerships, Collaborations, and Agreements:
8.10. WNS (Holdings) Ltd.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Recent strategies and developments:
8.10.4.1 Partnerships, Collaborations, and Agreements:
8.10.4.2 Acquisition and Mergers:
TABLE 1 Asia Pacific Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 2 Asia Pacific Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Procurement as a Service Market
TABLE 4 Acquisition and Mergers– Procurement as a Service Market
TABLE 5 Asia Pacific Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 6 Asia Pacific Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 7 Asia Pacific Strategic Sourcing Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 8 Asia Pacific Strategic Sourcing Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 9 Asia Pacific Process Management Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 10 Asia Pacific Process Management Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 11 Asia Pacific Category Management Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 12 Asia Pacific Category Management Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 13 Asia Pacific Transaction Management Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 14 Asia Pacific Transaction Management Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 15 Asia Pacific Spend Management Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 16 Asia Pacific Spend Management Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 17 Asia Pacific Contract Management Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 18 Asia Pacific Contract Management Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 19 Asia Pacific Other Component Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 20 Asia Pacific Other Component Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 21 Asia Pacific Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 22 Asia Pacific Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 23 Asia Pacific Procurement as a Service Large Enterprises Market by Country, 2017 - 2020, USD Million
TABLE 24 Asia Pacific Procurement as a Service Large Enterprises Market by Country, 2021 - 2027, USD Million
TABLE 25 Asia Pacific Procurement as a Service Small & Medium Enterprise Market by Country, 2017 - 2020, USD Million
TABLE 26 Asia Pacific Procurement as a Service Small & Medium Enterprise Market by Country, 2021 - 2027, USD Million
TABLE 27 Asia Pacific Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 28 Asia Pacific Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 29 Asia Pacific Manufacturing Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 30 Asia Pacific Manufacturing Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 31 Asia Pacific Retail Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 32 Asia Pacific Retail Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 33 Asia Pacific BFSI Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 34 Asia Pacific BFSI Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 35 Asia Pacific Healthcare Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 36 Asia Pacific Healthcare Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 37 Asia Pacific IT & Telecom Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 38 Asia Pacific IT & Telecom Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 39 Asia Pacific Others Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 40 Asia Pacific Others Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 41 Asia Pacific Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 42 Asia Pacific Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 43 China Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 44 China Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 45 China Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 46 China Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 47 China Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 48 China Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 49 China Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 50 China Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 51 Japan Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 52 Japan Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 53 Japan Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 54 Japan Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 55 Japan Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 56 Japan Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 57 Japan Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 58 Japan Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 59 India Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 60 India Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 61 India Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 62 India Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 63 India Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 64 India Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 65 India Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 66 India Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 67 South Korea Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 68 South Korea Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 69 South Korea Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 70 South Korea Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 71 South Korea Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 72 South Korea Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 73 South Korea Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 74 South Korea Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 75 Singapore Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 76 Singapore Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 77 Singapore Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 78 Singapore Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 79 Singapore Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 80 Singapore Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 81 Singapore Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 82 Singapore Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 83 Malaysia Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 84 Malaysia Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 85 Malaysia Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 86 Malaysia Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 87 Malaysia Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 88 Malaysia Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 89 Malaysia Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 90 Malaysia Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 91 Rest of Asia Pacific Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 92 Rest of Asia Pacific Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 93 Rest of Asia Pacific Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 94 Rest of Asia Pacific Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 95 Rest of Asia Pacific Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 96 Rest of Asia Pacific Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 97 Rest of Asia Pacific Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 98 Rest of Asia Pacific Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 99 Key information – IBM Corporation
TABLE 100 Key information – Accenture PLC
TABLE 101 Key Information – Broadcom, Inc.
TABLE 102 Key Information – HCL Technologies Ltd.
TABLE 103 Key Information – Genpact Limited
TABLE 104 Key Information – Infosys Limited
TABLE 105 Key Information – Wipro Limited
TABLE 106 Key Information – Tata Consultancy Services Ltd.
TABLE 107 key information – GEP
TABLE 108 key information – WNS (Holdings) Ltd.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2016-2020)
FIG 4 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2017, Jan – 2021, May) Leading Players
FIG 5 Recent strategies and developments: IBM Corporation
FIG 6 Swot analysis: IBM Corporation
FIG 7 Swot analysis: Accenture plc
FIG 8 SWOT Analysis: Broadcom, Inc.
FIG 9 Recent strategies and developments: HCL Technologies Ltd.
FIG 10 SWOT Analysis: HCL Technologies Ltd.
FIG 11 Recent strategies and developments: Genpact Limited
FIG 12 Recent strategies and developments: Infosys Limited
FIG 13 SWOT Analysis: Infosys Limited
FIG 14 Recent strategies and developments: Wipro Limited
FIG 15 SWOT Analysis: Wipro Limited
FIG 16 SWOT Analysis: Tata Consultancy Services Ltd.
FIG 17 Recent strategies and developments: WNS (Holdings) Ltd.