Middle East and Africa Procurement as-a-Service Market

Market Introduction

Procurement as-a-service is an outsourced procurement business model that combines staff, technology, and expertise to manage a portion, or complete, of user’s organization’s procurement functions. The direct procurement is a process that is involved in acquiring various raw materials and goods for final product production. The fast-growing economies across the regions are expected to witness a significant surge in demand for various procurement services, including strategic souring, transaction management, spend management, and others. Recently, the MEA region has attracted notable investment towards the development of its critical energy & power infrastructure along with rising investment towards its other industrial sector, such as oil & gas, power generation, and manufacturing to facilitate its growth owing to increasing demand from its fast-growing population.

Market Overview and Dynamics

The Middle East and Africa procurement as-a-service market is expected to reach US$ 165.9 million by 2027 from US$ 108.4 million in 2019, at a CAGR of 6.60 % from 2020 to 2027. The procurement as a service model not only offers cost reduction and flexibility and but also provides a subject matter expertise to the enterprises. As a result, number of enterprises are focusing on streamlining their procurement processes with adoption of procurement as-a-service model, which is there by driving the growth of the market.

However, due to COVID-19 business have come to a halt and is expected to continue slower than usual pace. The countries are enchanting significant containment measures to lessen the number of infected patients. Containment measures is reducing the economic activity in the manufacturing and service sectors. This is anticipated to impact market growth in MEA negatively.

Key Market Segments

In terms of component, the spend management segment accounted for a larger share of the Middle East and Africa 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.

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 Middle East and Africa are company websites, annual reports, financial reports, national government documents, and statistical database. Major companies listed in the report are Accenture.; GEP; HCL Technologies; Genpact Ltd, and IBM Corporation among others.

Reasons to Buy Report

• Understand the Middle East and Africa procurement as-a-service market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive market landscape
• Efficiently plan merger and acquisition, and partnership deals in the Middle East and Africa procurement as-a-service market by identifying market segments with the most promising probable sales
• Make knowledgeable business decisions from perceptive and comprehensive analysis of the performance of various market segment
• Obtain revenue forecast for the Middle East and Africa procurement as-a-service market based on various segments for the period 2020–2027

MIDDLE EAST AND AFRICA PROCUREMENT AS-A-SERVICE MARKET SEGMENTATION

Middle East and Africa Procurement as-a-Service Market – by Component

• Strategic Sourcing
• Spend Management
• Category Management
• Process Management
• Contract Management
• Transaction Management

Middle East and Africa Procurement as-a-Service Market – by Enterprise Size

• SMEs
• Large Enterprises

Middle East and Africa 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

Middle East and Africa Procurement as-a-Service Market – by Country

• Saudi Arabia
• UAE
• South Africa
• Rest of MEA

Company Profiles

• Accenture
• Genpact Ltd
• GEP
• HCL Technologies
• IBM Corporation
• Infosys Ltd
• Wipro Limited
• WNS (Holdings) Limited

Middle East and Africa Procurement as-a-Service Market Strategic Insights

Middle East and Africa Procurement as-a-Service Market Segmentation Analysis

Middle East and Africa Procurement as-a-Service Market Report Highlights

Middle East and Africa Procurement as-a-Service Report Scope

Middle East and Africa Procurement as-a-Service Market Country and Regional Insights