LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Government Relations Services Market - Procurement Intelligence Report.
Most of the enterprises are struggling to safeguard their business interests with the regulatory bodies increasing their control over the business sectors and enforcing frequent changes in the laws. Factors such as political unrest between nations, meteorological factors, concerns over consumer protection, and technology changes are fanning the frequency of the regulatory changes. This is asserting the importance of government relations services which are expected to observe a spend growth of over USD 6 billion between 2018-2023. With the rapid progress of the global economy, organizations are making efforts to realize their business expansion goals. However, the presence of different regulatory frameworks in regions are hindering the expansion plans. This is further driving the need to invest in the government relations services market to protect business interests. Download the Free Sample of the government relations services market intelligence report here!
The technology sector in the US is constantly being subjected to strict scrutiny by the legislative authorities in the region. Allegations such as enabling Russian interference in the US elections and misusing personal data of users are triggering such scrutinization. This is compelling buyers from this sector to invest in lobbying activities which has increased over 10% since 2017. This is driving the spend growth of the government relations services market in the US. Business sectors in the UK are expected to be subjected to massive regulatory changes post the UK’s decision to exit from the EU. Such changes will limit the UK’s access to the EU single market that limits regulatory obstacles to the free movement of goods and services within the EU. This will assert the importance of government relations by companies who are predicted to engage in activities such as lobbying which will propel the demand for government relations services in the region. Not what you are looking for? Request for free customization.
Buyers can leverage this report to get actionable data on the current and future supply market scenario. Coverage of the US market, including category spend analysis, pricing outlook, supplier cost structure, etc., is also offered in this government relations services market intelligence report. Additional information includes an analysis of the cost and volume drivers, top suppliers, and category management strategies.
“Category managers should ensure that their service providers strictly adhere to regulations of all concerned regions during the contract period,” says SpendEdge procurement expert Tridib Bora.
This government relations services market intelligence report has highlighted the following factors to play critical roles in influencing category spend. They include:
- Technology adoption is improving category service quality
- Exploring category service bundling will maximize buyer’s cost savings.
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SpendEdge’s procurement market intelligence reports for the professional services category offer information on critical cost drivers and category pricing strategies to help the buyers achieve significant cost savings. The supply market forecasts offer information on supplier performance benchmarking criteria to help buyers reduce spend and establish better SLAs. Additionally, SpendEdge’s reports offer category management insights and procurement best practices for the category.
Report scope snapshot: Government relations services
- Market favorability index for suppliers
- Competitiveness index for suppliers
- Threat of new entrants
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Category management enablers
- Procurement organization
- Category enablers
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- Category hierarchy
- Category scope
- Category map
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