The Latin America, Middle East and Africa Procurement Outsourcing Market is expected to witness market growth of 13.2% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Procurement Outsourcing Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD242.2 million by 2031. The Argentina market is capturing a CAGR of 14.2% during 2024-2031. Additionally, the UAE market would register a CAGR of 12.3% during 2024-2031.
Adoption is increasingly motivated by a desire for total value delivery rather than cost savings. Organizations recognize that outsourcing can lead to better supplier relationships, improved quality, and enhanced innovation, contributing to overall business success. Several key trends are shaping the procurement outsourcing landscape. Organizations are increasingly prioritizing sustainability in their procurement practices, driving demand for outsourcing partners who can provide sustainable sourcing solutions and ensure that suppliers adhere to environmental and ethical standards.
Companies are moving from transactional relationships with outsourcing providers to more collaborative, strategic partnerships. This shift emphasizes shared goals, innovation, and long-term value creation rather than simply cost savings. As businesses face fluctuating market conditions, there is a growing trend toward flexible procurement outsourcing models.
Organizations seek partners to scale services up or down based on demand, enabling agile responses to market changes. There is a rising emphasis on supplier diversity within procurement outsourcing. Companies are progressively attempting to engage with diverse suppliers to promote inclusivity and access a wider variety of innovative solutions and offerings.
The focus on sustainability and technological advancements within the logistics industry will drive the adoption of innovative procurement practices. Procurement outsourcing firms will be crucial in helping businesses implement sustainable sourcing strategies, optimize inventory management, and integrate digital procurement solutions. As the logistics and transportation industry in Saudi Arabia continues to evolve and grow, the procurement outsourcing market is set to experience significant expansion, driven by the need for efficient, cost-effective, and technologically advanced procurement solutions. Hence, the rising healthcare budget and expansion of the logistics & transportation industry are driving the market's growth.
The Brazil market dominated the LAMEA Procurement Outsourcing Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD242.2 million by 2031. The Argentina market is capturing a CAGR of 14.2% during 2024-2031. Additionally, the UAE market would register a CAGR of 12.3% during 2024-2031.
Adoption is increasingly motivated by a desire for total value delivery rather than cost savings. Organizations recognize that outsourcing can lead to better supplier relationships, improved quality, and enhanced innovation, contributing to overall business success. Several key trends are shaping the procurement outsourcing landscape. Organizations are increasingly prioritizing sustainability in their procurement practices, driving demand for outsourcing partners who can provide sustainable sourcing solutions and ensure that suppliers adhere to environmental and ethical standards.
Companies are moving from transactional relationships with outsourcing providers to more collaborative, strategic partnerships. This shift emphasizes shared goals, innovation, and long-term value creation rather than simply cost savings. As businesses face fluctuating market conditions, there is a growing trend toward flexible procurement outsourcing models.
Organizations seek partners to scale services up or down based on demand, enabling agile responses to market changes. There is a rising emphasis on supplier diversity within procurement outsourcing. Companies are progressively attempting to engage with diverse suppliers to promote inclusivity and access a wider variety of innovative solutions and offerings.
The focus on sustainability and technological advancements within the logistics industry will drive the adoption of innovative procurement practices. Procurement outsourcing firms will be crucial in helping businesses implement sustainable sourcing strategies, optimize inventory management, and integrate digital procurement solutions. As the logistics and transportation industry in Saudi Arabia continues to evolve and grow, the procurement outsourcing market is set to experience significant expansion, driven by the need for efficient, cost-effective, and technologically advanced procurement solutions. Hence, the rising healthcare budget and expansion of the logistics & transportation industry are driving the market's growth.
List of Key Companies Profiled
- Infosys Limited
- TATA Consultancy Services Ltd.
- HCL Technologies Ltd.
- WNS (Holdings) Ltd.
- NB Ventures, Inc. (Global eProcure)
- Wipro Limited
- IBM Corporation
- Accenture PLC
- Genpact Limited
- Capgemini SE
Market Report Segmentation
By Component
- Services
- Solutions
By Deployment
- Cloud
- On-Premise
By Industry Vertical
- BFSI
- IT & Telecommunication
- Healthcare
By Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Procurement Outsourcing Market by Component
Chapter 6. LAMEA Procurement Outsourcing Market by Deployment
Chapter 7. LAMEA Procurement Outsourcing Market by Industry Vertical
Chapter 8. LAMEA Procurement Outsourcing Market by Organization Size
Chapter 9. LAMEA Procurement Outsourcing Market by Country
Chapter 10. Company Profiles
Companies Mentioned
Some of the key companies in the LAMEA Procurement Outsourcing Market include:- Infosys Limited
- TATA Consultancy Services Ltd.
- HCL Technologies Ltd.
- WNS (Holdings) Ltd.
- NB Ventures, Inc. (Global eProcure)
- Wipro Limited
- IBM Corporation
- Accenture PLC
- Genpact Limited
- Capgemini SE
Methodology
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