Service procurement is a strategic outsourcing process of procuring operational services from external sources. Service procurement solutions facilitate organizations in improving their human resource recruitment process, resulting in a positive impact on work quality and productivity. Further, it is also useful for organizations in automatizing several governance activities essential for the management of the external workforce. Thereby, automatizing of governance activities aids an organization in enhancing their productivity along with helping in the workforce expansion.
Some of the factors propelling the growth of the service procurement market include effective management of expenditure on contractual workers, rising demand for freelancers, and increasing focus on workforce analytics. However, complexity in the selection of services process as well as access to corporate systems to temporary workers may hinder the service procurement market to a certain extent. Also, the growing number of temporary workers, particularly in the services sector, offers lucrative growth opportunity to the service procurement market.
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The “Global Service Procurement Market Analysis to 2027” is a specialized and in-depth study of the service procurement industry with a special focus on the global market trend analysis. The report aims to provide an overview of the service procurement market with detailed market segmentation by product type, industry, and geography. The global service procurement market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading service procurement market players and offers key trends and opportunities in the market.
The report also includes the profiles of key service procurement companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
-Acara Solutions, Inc.
-Beeline
-Coupa Software
-Field Nation, LLC
-Pro Unlimited Inc.
-SAP SE
-Smart ERP Solutions Inc.
-Upwork
-VectorVMS
-WorkMarket, Inc.
The global service procurement market is segmented on the basis of product type and industry. Based on the product type, the market is classified into contingent workforce management, freelancer management, statement of work procurement, services governance and master service agreement, analytics and reporting, and resource sourcing and tracking. Further, the industry segment of service procurement market is categorized into BFSI, telecom and IT, manufacturing, retail and consumer goods, government, and others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global service procurement market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). The service procurement market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the service procurement market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and SAM after evaluating political, economic, social and technological factors affecting the service procurement market in these regions.
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