What is Service Procurement Solution?
Service procurement solutions are used for the e-procurement of services. The increasing use of technological advancements and the growing need to reduce sales-related costs has accelerated the adoption of service procurement solutions after the pandemic situation. The solution helps to automate various organizational processes including sourcing and negotiation, invoicing, payments, contingent staffing, etc. Contingent workforce management is becoming more popular among the end-use industries as they include an extended workforce for many business operational activities.
The market study is broken down by Type (Freelancers Management, Contingent Workforce Management (CWM), Statement of Work (SOW) Services Management and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Service Procurement Solution market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
SAP (Germany), Beeline (United States), Allegis Group (United States), Oracle Corporation (United States), Reed (United Kingdom), Upwork Inc. (United States), TargetRecruit (Mountview Partners LLC) (United States), PRO Unlimited (United States), Randstad Sourceright (Netherlands), Accenture (Ireland), GEP (United States), Basware (Finland) and Zycus (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Service Procurement Solution market by Type, Application and Region.
On the basis of geography, the market of Service Procurement Solution has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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). If we see Market by Vertical, the sub-segment i.e. Manufacturing will boost the Service Procurement Solution market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise Size, the sub-segment i.e. Small & Medium Enterprise will boost the Service Procurement Solution market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud will boost the Service Procurement Solution market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In March 2021, Beeline, a leading contingent workforce, and services technology solution provider introduced its extended workforce platform to meet the increased demand for VMS solutions across various industries. The extended workforce solution is a cloud-based platform and has been built with new technologies, functional capabilities, and advanced analytical and algorithmic capabilities for organizations.
- Integration of AI Technology and High Growth of Cloud-based Solutions for Service Procurement
- Surging Demand for Service Procurement Solutions to Automate the Business Process
- Increased Demand for Contingent Workforce As Gig Economy Constitutes Increasing Component in the GDP
- Increased Demand for Outsourcing Service Procurements after Pandemic to Reduce Cost and Efficient Output
- Heavy Investment Costs and Rigidity to Adapt Such Variety
- Growing Popularity of B2B Service Marketplaces Among the Service Industries
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Service Procurement Solution Providers, Service Procurement Outsourcing Service Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-User Industries and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as SAP (Germany), Beeline (United States), Allegis Group (United States), Oracle Corporation (United States), Reed (United Kingdom), Upwork Inc. (United States), TargetRecruit (Mountview Partners LLC) (United States), PRO Unlimited (United States), Randstad Sourceright (Netherlands), Accenture (Ireland), GEP (United States), Basware (Finland) and Zycus (United States) etc.
2. Can we have customized study for Service Procurement Solution Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Service Procurement Solution Market by 2026?
Analysts at AMA estimates Service Procurement Solution Market to reach USD Million by 2026.