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Global Indirect Procurement Outsourcing Market Growth (Status and Outlook) 2024-2030
Product Code:808809
Published Date: Jan 02,2024
Pages: 90
Region: Global
Category: Service & Software
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According to our LPI (LP Information) latest study, the global Indirect Procurement Outsourcing market size was valued at US$ 2428 million in 2023. With growing demand in downstream market, the Indirect Procurement Outsourcing is forecast to a readjusted size of US$ 3227.3 million by 2030 with a CAGR of 4.1% during review period.
The research report highlights the growth potential of the global Indirect Procurement Outsourcing market. Indirect Procurement Outsourcing are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Indirect Procurement Outsourcing. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Indirect Procurement Outsourcing market.
Procure to pay (purchase to pay or P2P) is the process of obtaining and managing the raw materials needed for manufacturing a product or providing a service. It involves the transactional flow of data that is sent to a supplier as well as the data that surrounds the fulfillment of the actual order and payment for the product or service, the transfer of specified key procurement activities relating to sourcing and supplier management to a third party — perhaps to reduce overall costs or maybe to tighten the company's focus on its core competencies. Procurement categorisation and vendor management of indirect materials and services (commonly referred to as Indirect procurement) are typically the most popular outsourced activity.
Indirect categories are all the goods and services that are bought by the company to enable its activity. This entails a wide scope, including marketing related services (media buying, agencies), IT related services (hardware, software), HR related services (recruitment agencies, training), facilities management and office services (Telecoms, furniture, cleaning, catering, printers), or utilities (gas, electricity, water)...etc.
Key Features:
The report on Indirect Procurement Outsourcing market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Indirect Procurement Outsourcing market. It may include historical data, market segmentation by Type (e.g., Marketing Related Services, IT Related Services), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Indirect Procurement Outsourcing market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Indirect Procurement Outsourcing market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Indirect Procurement Outsourcing industry. This include advancements in Indirect Procurement Outsourcing technology, Indirect Procurement Outsourcing new entrants, Indirect Procurement Outsourcing new investment, and other innovations that are shaping the future of Indirect Procurement Outsourcing.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Indirect Procurement Outsourcing market. It includes factors influencing customer ' purchasing decisions, preferences for Indirect Procurement Outsourcing product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Indirect Procurement Outsourcing market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Indirect Procurement Outsourcing market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Indirect Procurement Outsourcing market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Indirect Procurement Outsourcing industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Indirect Procurement Outsourcing market.
Market Segmentation:
Indirect Procurement Outsourcing market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.
Segmentation by type
Marketing Related Services
IT Related Services
HR Related Services
Facilities Management & Office Services
Others
Segmentation by application
CPG & Retail
BFSI Sector
Manufacturing Sector
Energy & Utilities
Hi-Tech & Telecom
Healthcare & Pharma
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
IBM
Accenture
GEP
Infosys
Capgemini
Genpact
TCS
Xchanging
WNS