The North America Procurement as a Service Market would witness market growth of 7.3% CAGR during the forecast period (2021-2027).
Procurement as a service is considered as an outsourced procurement tool that blends employee, technology, and knowledge with an aim to better manage some parts, if not all, of your company's procurement tasks. Technology is effective and helpful for a company to keep a check on where the money is being spent and where it can save its resources. It assists them to choose the categories for sourcing and allocate category experts to manage purchasing tasks for those categories. It completely depends on the technology to do the procurement and sourcing, monitor purchases and payments and manages three-way matching to ensure a company is paying for the right thing.
The majority of the procurement as service vendors allow the visibility of the process for the companies they collaborate with, commonly using a reporting portal. With this, it becomes feasible to gain access to the procurement and analytics tools in order to allow a company to run its own reports, monitor inventory, and upload payments. It is quite similar to SaaS, or software as a service, but manages procurement services.
North America is considered as one of the critical regions for the growth & demand of several products & services due to supportive government policies to fuel innovation, the existence of a massive industrial base, and massive adoption of industrial automation services in well-established nations like the US and Canada. The North American region is a significant hub for technological developments and always remained at the forefront to adopt the latest technologies.
The companies in the North American region are aiming to enhance their procurement operations and installing the best practices for procurement operations. Procurement outsourcing assists businesses in improving the effectiveness of procurement activities. It also helps them to obtain a competitive edge over other key players operating in the regional market. The existence of leading players in the region is likely to accelerate the growth rate of the regional market. The growth of the regional market would be fueled by the optimistic landscape of BPO evolution and increasing focus on providing personalized solutions.
The US market dominated the North America Category Management Procurement as a Service Market by Country 2020, thereby, achieving a market value of $283.2 million by 2027. The Canada market is experiencing a CAGR of 10.3% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 9.4% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Procurement as a Service Market is Estimated 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., NB Ventures, Inc. (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
- US
- Canada
- Mexico
- Rest of North America
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.
- NB Ventures, Inc. (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 North America Procurement As A Service Market, by Component
1.4.2 North America Procurement As A Service Market, by Enterprise Size
1.4.3 North America Procurement As A Service Market, by Application
1.4.4 North America 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. North America Procurement as a Service Market by Component
4.1 North America Strategic Sourcing Procurement as a Service Market by Country
4.2 North America Process Management Procurement as a Service Market by Country
4.3 North America Category Management Procurement as a Service Market by Country
4.4 North America Transaction Management Procurement as a Service Market by Country
4.5 North America Spend Management Procurement as a Service Market by Country
4.6 North America Contract Management Procurement as a Service Market by Country
4.7 North America Other Component Procurement as a Service Market by Country
Chapter 5. North America Procurement as a Service Market by Enterprise Size
5.1 North America Procurement as a Service Large Enterprises Market by Country
5.2 North America Procurement as a Service Small & Medium Enterprise Market by Country
Chapter 6. North America Procurement as a Service Market by Application
6.1 North America Manufacturing Procurement as a Service Market by Country
6.2 North America Retail Procurement as a Service Market by Country
6.3 North America BFSI Procurement as a Service Market by Country
6.4 North America Healthcare Procurement as a Service Market by Country
6.5 North America IT & Telecom Procurement as a Service Market by Country
6.6 North America Others Procurement as a Service Market by Country
Chapter 7. North America Procurement as a Service Market by Country
7.1 US Procurement as a Service Market
7.1.1 US Procurement as a Service Market by Component
7.1.2 US Procurement as a Service Market by Enterprise Size
7.1.3 US Procurement as a Service Market by Application
7.2 Canada Procurement as a Service Market
7.2.1 Canada Procurement as a Service Market by Component
7.2.2 Canada Procurement as a Service Market by Enterprise Size
7.2.3 Canada Procurement as a Service Market by Application
7.3 Mexico Procurement as a Service Market
7.3.1 Mexico Procurement as a Service Market by Component
7.3.2 Mexico Procurement as a Service Market by Enterprise Size
7.3.3 Mexico Procurement as a Service Market by Application
7.4 Rest of North America Procurement as a Service Market
7.4.1 Rest of North America Procurement as a Service Market by Component
7.4.2 Rest of North America Procurement as a Service Market by Enterprise Size
7.4.3 Rest of North America 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 NB Ventures, Inc. (Global eProcure)
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 North America Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 2 North America 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 North America Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 6 North America Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 7 North America Strategic Sourcing Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 8 North America Strategic Sourcing Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 9 North America Process Management Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 10 North America Process Management Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 11 North America Category Management Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 12 North America Category Management Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 13 North America Transaction Management Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 14 North America Transaction Management Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 15 North America Spend Management Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 16 North America Spend Management Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 17 North America Contract Management Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 18 North America Contract Management Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 19 North America Other Component Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 20 North America Other Component Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 21 North America Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 22 North America Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 23 North America Procurement as a Service Large Enterprises Market by Country, 2017 - 2020, USD Million
TABLE 24 North America Procurement as a Service Large Enterprises Market by Country, 2021 - 2027, USD Million
TABLE 25 North America Procurement as a Service Small & Medium Enterprise Market by Country, 2017 - 2020, USD Million
TABLE 26 North America Procurement as a Service Small & Medium Enterprise Market by Country, 2021 - 2027, USD Million
TABLE 27 North America Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 28 North America Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 29 North America Manufacturing Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 30 North America Manufacturing Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 31 North America Retail Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 32 North America Retail Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 33 North America BFSI Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 34 North America BFSI Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 35 North America Healthcare Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 36 North America Healthcare Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 37 North America IT & Telecom Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 38 North America IT & Telecom Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 39 North America Others Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 40 North America Others Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 41 North America Procurement as a Service Market by Country, 2017 - 2020, USD Million
TABLE 42 North America Procurement as a Service Market by Country, 2021 - 2027, USD Million
TABLE 43 US Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 44 US Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 45 US Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 46 US Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 47 US Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 48 US Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 49 US Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 50 US Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 51 Canada Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 52 Canada Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 53 Canada Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 54 Canada Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 55 Canada Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 56 Canada Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 57 Canada Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 58 Canada Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 59 Mexico Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 60 Mexico Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 61 Mexico Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 62 Mexico Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 63 Mexico Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 64 Mexico Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 65 Mexico Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 66 Mexico Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 67 Rest of North America Procurement as a Service Market, 2017 - 2020, USD Million
TABLE 68 Rest of North America Procurement as a Service Market, 2021 - 2027, USD Million
TABLE 69 Rest of North America Procurement as a Service Market by Component, 2017 - 2020, USD Million
TABLE 70 Rest of North America Procurement as a Service Market by Component, 2021 - 2027, USD Million
TABLE 71 Rest of North America Procurement as a Service Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 72 Rest of North America Procurement as a Service Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 73 Rest of North America Procurement as a Service Market by Application, 2017 - 2020, USD Million
TABLE 74 Rest of North America Procurement as a Service Market by Application, 2021 - 2027, USD Million
TABLE 75 Key information – IBM Corporation
TABLE 76 Key information – Accenture PLC
TABLE 77 Key Information – Broadcom, Inc.
TABLE 78 Key Information – HCL Technologies Ltd.
TABLE 79 Key Information – Genpact Limited
TABLE 80 Key Information – Infosys Limited
TABLE 81 Key Information – Wipro Limited
TABLE 82 Key Information – Tata Consultancy Services Ltd.
TABLE 83 key information – GEP
TABLE 84 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.