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North America Procurement Outsourcing Market Size, Share & Trends Analysis Report By Component (Services and Solutions), By Deployment (Cloud and On-Premise), By Industry Vertical, By Organization Size, By Country and Growth Forecast, 2024 - 2031

Publisher Knowledge Based Value (KBV) Research
Published Sep 30, 2024
Length 131 Pages
SKU # KBV19215406

Description

North America Procurement Outsourcing Market Size, Share & Trends Analysis Report By Component (Services and Solutions), By Deployment (Cloud and On-Premise), By Industry Vertical, By Organization Size, By Country and Growth Forecast, 2024 - 2031


The North America Procurement Outsourcing Market would witness market growth of 10.2% CAGR during the forecast period (2024-2031).

The US market dominated the North America Procurement Outsourcing Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,294.5 million by 2031. The Canada market is experiencing a CAGR of 12.5% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 11.6% during (2024 - 2031).

The procurement outsourcing market is the industry segment that delegates procurement functions and processes to external service providers. Organizations partner with these providers to manage various aspects of procurement, such as sourcing, purchasing, contract management, supplier management, and spend analysis, allowing them to focus on core business activities. Procurement outsourcing is utilized across various sectors and industries, including manufacturing, retail, healthcare, finance, and technology.

Procurement outsourcing allows organizations to access a broader supplier base, enabling diversification and reducing dependency on single suppliers. This diversification is crucial for mitigating risks associated with supply chain disruptions, geopolitical issues, or financial instability in specific regions.

Outsourcing procurement can foster innovation in the IT industry by facilitating access to the latest technologies and solutions. Specialized procurement firms stay abreast of industry trends and emerging technologies, ensuring that IT companies are equipped with the most advanced tools available. This access to innovation is crucial for maintaining a competitive edge in the fast-paced tech industry. Ultimately, the goal of procurement outsourcing in the USA’s IT sector is to enhance service delivery. By ensuring that IT companies have access to the best technologies and services, procurement outsourcing contributes to improved product development, greater customer satisfaction, and overall better service delivery. This aligns with the broader objectives of the IT industry to provide high-quality and innovative solutions to consumers and businesses. In conclusion, expansion of the IT industry and rising telecom sector in the region is driving the growth of the market.

Based on Component, the market is segmented into Services and Solutions. Based on Deployment, the market is segmented into Cloud and On-Premise. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecommunication, and Healthcare. Based on Organization Size, the market is segmented into Large Enterprises and Small and Medium-sized Enterprises (SMEs). Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

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
North America Procurement Outsourcing 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
  • US
  • Canada
  • Mexico
  • Rest of North America

Table of Contents

131 Pages
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Procurement Outsourcing Market, by Component
1.4.2 North America Procurement Outsourcing Market, by Deployment
1.4.3 North America Procurement Outsourcing Market, by Industry Vertical
1.4.4 North America Procurement Outsourcing Market, by Organization Size
1.4.5 North America Procurement Outsourcing Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.3 Market Share Analysis, 2023
4.4 Top Winning Strategies
4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
4.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2020, Jul – 2024, Jul) Leading Players
4.5 Porter Five Forces Analysis
Chapter 5. North America Procurement Outsourcing Market by Component
5.1 North America Services Market by Region
5.2 North America Solutions Market by Region
Chapter 6. North America Procurement Outsourcing Market by Deployment
6.1 North America Cloud Market by Country
6.2 North America On-Premise Market by Country
Chapter 7. North America Procurement Outsourcing Market by Industry Vertical
7.1 North America BFSI Market by Country
7.2 North America IT & Telecommunication Market by Country
7.3 North America Healthcare Market by Country
Chapter 8. North America Procurement Outsourcing Market by Organization Size
8.1 North America Large Enterprises Market by Country
8.2 North America Small and Medium-sized Enterprises (SMEs) Market by Country
Chapter 9. North America Procurement Outsourcing Market by Country
9.1 US Procurement Outsourcing Market
9.1.1 US Procurement Outsourcing Market by Component
9.1.2 US Procurement Outsourcing Market by Deployment
9.1.3 US Procurement Outsourcing Market by Industry Vertical
9.1.4 US Procurement Outsourcing Market by Organization Size
9.2 Canada Procurement Outsourcing Market
9.2.1 Canada Procurement Outsourcing Market by Component
9.2.2 Canada Procurement Outsourcing Market by Deployment
9.2.3 Canada Procurement Outsourcing Market by Industry Vertical
9.2.4 Canada Procurement Outsourcing Market by Organization Size
9.3 Mexico Procurement Outsourcing Market
9.3.1 Mexico Procurement Outsourcing Market by Component
9.3.2 Mexico Procurement Outsourcing Market by Deployment
9.3.3 Mexico Procurement Outsourcing Market by Industry Vertical
9.3.4 Mexico Procurement Outsourcing Market by Organization Size
9.4 Rest of North America Procurement Outsourcing Market
9.4.1 Rest of North America Procurement Outsourcing Market by Component
9.4.2 Rest of North America Procurement Outsourcing Market by Deployment
9.4.3 Rest of North America Procurement Outsourcing Market by Industry Vertical
9.4.4 Rest of North America Procurement Outsourcing Market by Organization Size
Chapter 10. Company Profiles
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.6 SWOT Analysis
10.2 Infosys Limited
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expense
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.6 SWOT Analysis
10.3 Wipro Limited
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expenses
10.3.5 SWOT Analysis
10.4 Genpact Limited
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Recent strategies and developments:
10.4.4.1 Partnerships, Collaborations, and Agreements:
10.5 Capgemini SE
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Regional Analysis
10.5.4 Recent strategies and developments:
10.5.4.1 Acquisition and Mergers:
10.5.5 SWOT Analysis
10.6 HCL Technologies Ltd. (HCL Enterprises)
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expenses
10.6.5 Recent strategies and developments:
10.6.5.1 Product Launches and Product Expansions:
10.6.5.2 Acquisition and Mergers:
10.6.6 SWOT Analysis
10.7 WNS (Holdings) Ltd.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Recent strategies and developments:
10.7.4.1 Acquisition and Mergers:
10.8 NB Ventures, Inc. (Global eProcure)
10.8.1 Company Overview
10.9 IBM Corporation
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Regional & Segmental Analysis
10.9.4 Research & Development Expenses
10.9.5 Recent strategies and developments:
10.9.5.1 Partnerships, Collaborations, and Agreements:
10.9.6 SWOT Analysis
10.10. Accenture PLC
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Segmental Analysis
10.10.4 Research & Development Expenses
10.10.5 Recent strategies and developments:
10.10.5.1 Acquisition and Mergers:
10.10.6 SWOT Analysis

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