Procurement Outsourcing Market - Business Development and Global Forecast 2023
Market Research Future (MRFR) recently analyzed the global procurement outsourcing market and concluded that the market is estimated to witness fast-paced growth over the forecast period. The global procurement outsourcing market is estimated to register a robust CAGR of 15.5%, reaching a market revenue valuation of USD 4.19 billion by the end of 2023. Procurement outsourcing refers to the transfer of specified key procurement activities that are related to sourcing and supplier management to a third party. This method is generally deployed for the reduction of miscellaneous costs and to enable higher focus of the organization on its core competencies. Procurement categorization and vendor management of indirect materials and services are expected to be the most popularly outsourced activities. Such a process is expected to exhibit high demand for the procurement of indirect materials and services like IT-related services, marketing, HR, facility management, among others. Get Free Samp...