What is Service Procurement Market?
The services procurement consist of activities which is directly involved in purchasing and sourcing commercial services which allow a company to promote itself, and its products and services in the market. From strategic sourcing through payables, procurement services can help transform your business into a cognitive organization. By accessing refined, real-time data it deliver a highly personalized user experience that can learn over time. The global service procurement market is expected to witness a significant growth owing to increasing growth in the number of freelancers in the market.
The market study is being classified by Type (Solutions [Contingent Workforce Management, Freelancer Management, Statement of Work Procurement, Analytics and Reporting and Other] and Services [Deployment and Integration, Support and Maintenance, Consulting]), by Application (Banking, Financial Services, and Insurance, IT and Telecom, Retail and Consumer Goods, Healthcare Industry, Energy and Utilities and Others) and major geographies with country level break-up.
SAP Fieldglass (United States), Beeline (United States), DCR Workforce (United States), Apsolut GmbH (Germany), PRO Unlimited (United States), PeopleFluent (United States), Provade (United States), PIXID (France), Upwork (United States) and Field Nation (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are WorkMarket (United States), Enlighta (United States) and TargetRecruit (United States).
The players are exploring the market in new regions by adopting mergers & acquisitions, expansions, new service and solution launches and collaborations as their preferred strategies. Key players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Service Procurement market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Service Procurement market by Type, Application and Region.
On the basis of geography, the market of Service Procurement has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Effective Management of Expenditure on Contractual Workers
- Growth in the Number of Freelancers in the Market
Market Trend
- Increasing Focus on Workforce Analytics
Restraints
- Dearth of Online Order Management
Opportunities
- Increasing Number of Provisional Workers in the Services Industry
- Increasing Solution Adoption by Service Providers
Challenges
- Complexity in Selection Process of Services
Key Target Audience
Providers of Services procurement solutions, Providers of Workforce management, Providers of Freelancer services, Providers of Supplier Relationship Management, IT Industry and Governmental Bodies