The global market for Procurement Outsourcing was valued at US$8 Billion in 2024 and is projected to reach US$17.6 Billion by 2030, growing at a CAGR of 13.9% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Procurement Outsourcing - Key Trends and Drivers
The growth in the procurement outsourcing market is driven by several factors. One of the primary drivers is the increasing pressure on businesses to reduce costs and improve operational efficiency amidst rising competition and economic uncertainty. Technological advancements, particularly in automation and data analytics, have made procurement outsourcing more efficient and effective, enabling service providers to deliver greater value to their clients. The globalization of supply chains has also contributed to market growth, as companies seek to manage complex, multi-tiered supplier networks and mitigate risks associated with geopolitical instability and regulatory changes. Additionally, the growing emphasis on sustainability and ethical sourcing has prompted businesses to seek the expertise of procurement firms that can help them navigate these challenges and achieve their corporate social responsibility (CSR) goals. These factors, combined with the rising demand for strategic procurement capabilities and the need for agility in a rapidly changing business environment, are propelling the expansion of the procurement outsourcing market.
In recent years, the procurement outsourcing industry has evolved significantly, driven by advancements in technology and changing business needs. Modern procurement outsourcing firms utilize sophisticated software platforms and data analytics to optimize procurement processes and drive better decision-making. The integration of artificial intelligence (AI) and machine learning (ML) in procurement solutions has enabled more accurate demand forecasting, risk management, and supplier performance evaluation. Additionally, procurement service providers are increasingly offering end-to-end solutions that cover the entire procurement lifecycle, from strategy development to execution and continuous improvement. This comprehensive approach allows businesses to achieve greater visibility and control over their procurement activities, fostering stronger supplier relationships and improving supply chain resilience.
Procurement outsourcing involves the delegation of a company's procurement functions to a third-party service provider. This practice allows businesses to focus on their core competencies while leveraging the expertise, technology, and global networks of specialized procurement firms. Procurement outsourcing encompasses a wide range of activities, including strategic sourcing, supplier management, contract negotiation, and purchase order management. Companies adopt procurement outsourcing to achieve cost savings, improve procurement efficiency, and gain access to market intelligence and best practices. By outsourcing procurement, businesses can streamline their supply chains, reduce operating expenses, and enhance overall operational effectiveness, all while ensuring compliance with industry regulations and standards.
Report Scope
The report analyzes the Procurement Outsourcing market, presented in terms of market value (USD). The analysis covers the key segments and geographic regions outlined below.
Segments
Service Type (Business Process Outsourcing Services, Consulting Services); End-User (BFSI End-User, Manufacturing End-User, Retail End-User, IT & Telecom End-User, Other End-Users).
Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Business Process Outsourcing Services segment, which is expected to reach US$10.4 Billion by 2030 with a CAGR of a 13.1%. The Consulting Services segment is also set to grow at 15.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $2.2 Billion in 2024, and China, forecasted to grow at an impressive 18.5% CAGR to reach $3.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Procurement Outsourcing Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Procurement Outsourcing Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Procurement Outsourcing Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Accenture PLC, Capgemini, Corbus, LLC, e-Business International Inc., Everest Global, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 61 companies featured in this Procurement Outsourcing market report include:
- Accenture PLC
- Capgemini
- Corbus, LLC
- e-Business International Inc.
- Everest Global, Inc.
- Genpact
- GEP
- IBM Corporation
- Infosys BPM Limited
- LBMC Family of Companies
- Premier BPO LLC
- Refteck Solutions USA Inc.
- Tata Consultancy Services Ltd.
- The Hackett Group, Inc.
- Wipro Limited
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Accenture PLC
- Capgemini
- Corbus, LLC
- e-Business International Inc.
- Everest Global, Inc.
- Genpact
- GEP
- IBM Corporation
- Infosys BPM Limited
- LBMC Family of Companies
- Premier BPO LLC
- Refteck Solutions USA Inc.
- Tata Consultancy Services Ltd.
- The Hackett Group, Inc.
- Wipro Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 301 |
| Published | February 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 8 Billion |
| Forecasted Market Value ( USD | $ 17.6 Billion |
| Compound Annual Growth Rate | 13.9% |
| Regions Covered | Global |
