Global Procurement Outsourcing Market 2018-2022 to Post a CAGR of 17% | Technavio

Technavio has published a new market research report on the global procurement outsourcing market from 2018-2022. (Graphic: Business Wire)

LONDON--()--Technavio analysts forecast the global procurement outsourcing market to grow at a CAGR of over 17% during the forecast period, according to their latest market research report.

The emergence of nearshore and offshore outsourcing locations is one of the major trends being witnessed in the global procurement outsourcing market 2018-2022. APAC is the preferred outsourcing center because of the presence of key outsourcing countries in the region such as India, China, Australia, Malaysia, the Philippines, and Vietnam. India has traditionally been a favored destination for the outsourcing of business processes because it has a good combination of key factors such as skilled labor and proficiency in the English language among the workforce. Moreover, it is also a low-cost location. The increase in nearshore destinations for BPO services in Europe has attracted companies to outsource their BPO services to locations such as Poland, Romania, and Hungary due to cultural and language proximity.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

According to Technavio analysts, one of the key factors contributing to the growth of the global procurement outsourcing market is the need to adhere to regulatory guidelines and ensure compliance:

Global procurement outsourcing market: Need to adhere to regulatory guidelines and ensure compliance

Regulatory compliances are increasingly being implemented across industries. Therefore, industries are adopting procurement outsourcing services to improve operational efficiencies and help businesses align their processes in a better manner. The services facilitate end-users to focus on internet and mobile banking strategies, enhance customer experience for competitive differentiation, and create new business opportunities to reach the unbanked population. Some of the compliance standards are International Organization for Standardization (ISO), Federal Information Security Management Act (FISMA), and the National Institute of Standards and Technology (NIST). These organizations seek to ensure transparency and security among organizations. Companies must follow the guidelines of regulatory bodies while securing their confidential data using the network security processes.

“Regulatory bodies also make it compulsory for organizations to keep a record of the log data from digital devices and other sources for auditing purposes. Companies face severe consequences if they fail to follow the protocol for their auditing and other business processes. Therefore, most organizations are adopting procurement outsourcing services which is expected to drive the growth of the market during the forecast period,” says a senior analyst at Technavio for research on ITO and BPO.

Global procurement outsourcing market: Segmentation analysis

The global procurement outsourcing market research report provides market segmentation by end-user (manufacturing, BFSI, Retail, IT and Telecom, others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The manufacturing segment held the largest share of the market in 2017, accounting for close to 29% share, followed by the BFSI and retail segment respectively. Although the manufacturing segment held the highest share of the market, the BFSI segment is expected to witness the maximum increase in its market share, followed by the retail segment.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

Technavio analysts forecast the global procurement outsourcing market to grow at a CAGR of over 17% during the forecast period, 2018-2022.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200