HTF MI introduces new research on Procurement as a Service covering the micro level of analysis by competitors and key business segments (2023-2029). The Procurement as a Service explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing.
Some of the major key players profiled in the study are HCL Technologies Ltd, Aegis Company, GEP, International Business Machines Corporation, Infosys Limited, Genpact, Wipro Limited, WNS (Holdings) Ltd., Tata Consultancy Services Limited, HPE, Woodstock IT, Insight, Virtunet, OPS Communication, Helixstorm, Softchoice, Ava Tech, CloudTech24, Blue Frontier, FusionComputing, Cardonet.
The global Procurement as a Service market size is expanding at robust growth of 10%, sizing up market trajectory from USD 6.1 Billion in 2023 to USD 11.19 Billion by 2029.
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Definition:
Procurement as a Service (PaaS) is a business model where companies outsource various aspects of their procurement process to third-party service providers.
On the off chance that you are engaged with the industry or expect to be, at that point this investigation will give you a complete perspective. It’s crucial you stay up with the latest sectioned by Applications [SMEs, Large Enterprises], Product Types [Strategic Sourcing, Spend Management, Process Management, Category Management, Contract Management, Transaction Management] and some significant parts of the business.
Market Trends:
Digital transformation: Increasing adoption of digital tools and technologies to streamline procurement proceØsses.
Market Drivers:
Cost savings through efficiency and economies of scale.Ø
Market Opportunities:
Small and medium-sized enterprises (SMEs) seeking cost-effective procurement solutions.Ø
Market Restraints:
Small and medium-sized enterprises (SMEs) seeking cost-effective procurement solutions.Ø
Market Challenges:
Small and medium-sized enterprises (SMEs) seeking cost-effective procurement solutions.Ø
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Procurement as a Service Market by Key Players: HCL Technologies Ltd, Aegis Company, GEP, International Business Machines Corporation, Infosys Limited, Genpact, Wipro Limited, WNS (Holdings) Ltd., Tata Consultancy Services Limited, HPE, Woodstock IT, Insight, Virtunet, OPS Communication, Helixstorm, Softchoice, Ava Tech, CloudTech24, Blue Frontier, FusionComputing, Cardonet
Procurement as a Service Market by Geographical Analysis:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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