Analysis By Component (Strategic Sourcing, Spend Management, Category Management, Process Management, Contract Management, Transaction Management); Enterprise Size (SMEs, Large Enterprises); End-User Industry (IT and Telecom, Consumer Goods and Retail, Manufacturing, Energy and Utility, Healthcare, Hospitality and Tourism, Others); and Country
No. of Pages:113
Report Code:
TIPRE00013312
Category:
Technology, Media and Telecommunications
The region is a significant hub for all local as well as international trade; procurement in Europe is crucial for businesses. Procurement includes purchasing the goods and services that allow an enterprise to operate. Europe is digitizing swiftly and becoming progressively connected, widespread terms such as IoT and Industry 4.0 reflect this. Traditionally, the procurement sector falls behind in digital transformations, which results in inefficiencies and high redundant costs. However, this situation is changing; modern procurement solutions such as cloud solutions provide various opportunities for every business in both direct and indirect procurement.
Market Overview and Dynamics
The Europe procurement as-a-service market is expected to reach US$ 958.2 million by 2027 from US$ 609.5 million in 2019, at a CAGR of 6.96% from 2020 to 2027. the various procurement service providers are increasingly focusing on catering fully customizable services to their customers in order to meet their unique requirements and thereby optimize their procurement functions. Additionally, increasingly focusing on streamlining their procurement processes with adoption of procurement as-a-service model, which in turn is driving the growth of the market.
The huge presence of industries in this region and adoption of advanced technologies makes Europe one of the prominent markets for Procurement as-a-Service. Hence, the COVID-19 impact on region’s economy is also expected to affect the growth of Procurement as-a-Service market in coming few quarters.
Key Market Segments
In terms of component, the spend management segment accounted for a larger share of the Europe procurement as-a-service market in 2019. In terms of enterprise size, the large enterprise segment held the largest market share of in 2019. Further, the manufacturing segment accounted for the largest share of the market based on end user in 2019. It is anticipated that by 2020 end, the situation in the region will improve substantially and procurement as-a-service demand will increase at a steady pace.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the procurement as-a-service market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database. Major companies listed in the report are Accenture.; CAPGEMINI SE; Corbus, LLC; Genpact Ltd, and IBM Corporation among others.
Reasons to Buy Report
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Obtain revenue forecast for the Europe procurement as-a-service market based on various segments for the period 2020–2027
EUROPE PROCUREMENT AS-A-SERVICE MARKET SEGMENTATION
Europe Procurement as-a-Service Market – by Component
Strategic Sourcing
Spend Management
Category Management
Process Management
Contract Management
Transaction Management
Europe Procurement as-a-Service Market – by Enterprise Size
SMEs
Large Enterprises
Europe Procurement as-a-Service Market – by End User Industry
IT and Telecom
Consumer Goods and Retail
Manufacturing
Energy and Utility
Healthcare
Hospitality and Tourism
Others
Europe Procurement as-a-Service Market – by Country
Germany
France
Italy
United Kingdom
Russia
Rest of Europe
Company Profiles
Accenture
CAPGEMINI SE
Corbus, LLC
Genpact Ltd
GEP
HCL Technologies
IBM Corporation
Infosys Ltd
Wipro Limited
WNS (Holdings) Limited
Europe Procurement as-a-Service Market Strategic Insights
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Europe Procurement as-a-Service Market Segmentation Analysis
Europe Procurement as-a-Service Market Report Highlights
Europe Procurement as-a-Service Report Scope
Report Attribute
Details
Market size in 2019
US$ 609.5 Million
Market Size by 2027
US$ 958.2 Million
CAGR (2020 - 2027)
6.96%
Historical Data
2017-2018
Forecast period
2020-2027
Segments Covered
By Component
Strategic Sourcing
Spend Management
Category Management
Process Management
Contract Management
Transaction Management
By Enterprise Size
SMEs
Large Enterprises
By End-User Industry
IT and Telecom
Consumer Goods and Retail
Manufacturing
Energy and Utility
Healthcare
Hospitality and Tourism
Regions and Countries Covered
Europe
UK
Germany
France
Russia
Italy
Rest of Europe
Market leaders and key company profiles
Accenture
CAPGEMINI SE
Corbus, LLC
Genpact Ltd
GEP
HCL Technologies
IBM Corporation
Infosys Ltd
Wipro Limited
WNS (Holdings) Limited
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Europe Procurement as-a-Service Market Country and Regional Insights
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Identical Market Reports with other Region/Countries
The List of Companies - Europe Procurement as-a-Service Market
The List of Companies - Europe Procurement as-a-Service Market
Accenture
CAPGEMINI SE
Corbus, LLC
Genpact Ltd
GEP
HCL Technologies
IBM Corporation
Infosys Ltd
Wipro Limited
WNS (Holdings) Limited
Frequently Asked Questions
How big is the Europe Procurement as-a-Service Market?
The Europe Procurement as-a-Service Market is valued at US$ 609.5 Million in 2019, it is projected to reach US$ 958.2 Million by 2027.
What is the CAGR for Europe Procurement as-a-Service Market by (2020 - 2027)?
As per our report Europe Procurement as-a-Service Market, the market size is valued at US$ 609.5 Million in 2019, projecting it to reach US$ 958.2 Million by 2027. This translates to a CAGR of approximately 6.96% during the forecast period.
What segments are covered in this report?
The Europe Procurement as-a-Service Market report typically cover these key segments-
End-User Industry (IT and Telecom, Consumer Goods and Retail, Manufacturing, Energy and Utility, Healthcare, Hospitality and Tourism)
What is the historic period, base year, and forecast period taken for Europe Procurement as-a-Service Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Procurement as-a-Service Market report:
Historic Period : 2017-2018
Base Year : 2019
Forecast Period : 2020-2027
Who are the major players in Europe Procurement as-a-Service Market?
The Europe Procurement as-a-Service Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
Accenture
CAPGEMINI SE
Corbus, LLC
Genpact Ltd
GEP
HCL Technologies
IBM Corporation
Infosys Ltd
Wipro Limited
WNS (Holdings) Limited
Who should buy this report?
The Europe Procurement as-a-Service Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Europe Procurement as-a-Service Market value chain can benefit from the information contained in a comprehensive market report.
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