Procurement as a Service Market 2025 | Latest Update, Trends & International News In One Place — Check Out Now
December 5, 2019 by Market-NewsFlash
The Global Procurement Service Market is valued at USD 4.93 billion in 2018 and is rising at a CAGR of 8.9% with a forecast of USD 9 Billion by 2025.
All enterprises utilize procurement services and have traditionally managed them in-house. The changing economic landscape with its emphasis on e-procurement, supply chain management, and efficient p2p systems has made it more cost-effective to outsource these services to businesses dedicated to providing procurement solutions.
As this industry grows, it becomes more cost-effective for all businesses to avail procurement services and that is a big factor in this market’s growth.
An excellent supporting infrastructure is provided by various IT companies who have expanded their profile to offer procurement services with the largest enterprises setting up their own procurement service units.
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