Service Procurement Market - Current Scenario and Forecast 2017 - 2022

Press Release   •   Jan 31, 2018 01:01 EST

Study papers on Service Procurement market and regional forecast. Service Procurement market players are SAP Fieldglass (US), Beeline (US), DCR Workforce (US), PRO Unlimited (US), PeopleFluent (US), Provade (US), PIXID (France), Upwork (US), Field Nation (US), Work Market (US), Superior Group (US),Enlighta (US), and Target Recruit (US).

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Service procurement market size is expected to grow from USD 579.5million in 2017 to USD 1,011.6million by 2022, at a Compound Annual Growth Rate (CAGR) of 11.8% during the forecast period. This market is driven by growing impetus on workforce analytics, and opportunities created with technological advancements for temporary workers to grow in the services sector. On the other hand, a temporary worker’s access to corporate facilities and systems and lack of online order management are major restraints for the service procurement market growth.

Target Audience:

  • Services procurement solutions providers
  • Workforce management providers
  • Freelancer service providers
  • Human resources providers
  • Analytics vendors
  • Project accounting solution providers
  • Supplier Relationship Management providers
  • Supplier Contract Management providers
  • Value-added resellers

North America has the first-mover advantage in the adoption of new technologies, such as analytics, big data, and cloud platforms. Companies are willingly investing in North America. The factors driving the growth of the service procurement market in North America are stable economy, technology enhancements, and infrastructure costs. APAC consists of growing economies and has a favorable market for vendors of services procurement solutions. India, China, Australia, and Japan are major contributors to the growth of service procurement market in APAC.

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A contingent workforce consists of people such as consultants, professors, and independent contractors which are not on the hiring company’s payroll. Contingent workforce management includes competencies, such as rate cards, analytics, reporting and cost benchmarking. Contingent workforce management has many benefits, such as cost savings, low administrative costs, and no mandate to pay payroll taxes and health insurance subscriptions.

The on-premises deployment refers to the installation of application on an organization’s premises, rather than at are mote facility. On-premises solutions are delivered on a one-time license fee, along with a service agreement. As this deployment requires huge infrastructure and its own data center, organizations that can afford this cost usually deploy on-premises solutions. Therefore, Small and Medium-sized Enterprises (SMEs) often face the dilemma of choosing between hosted and on-premises solutions. With advantages, such as control over the system and data, and dedicated staff for maintenance and support, it also comes with some drawbacks, such as high deployment cost and good infrastructure requirements, which are not always possible for every organization to invest in. However, the growth of on-premises deployment type is being affected by the rapid development of cloud computing solutions.

Competitive Landscape

1 Overview
2 Market Ranking
3 Competitive Scenario
3.1 New Product Launches
3.2 Business Expansions
3.3 Acquisitions
3.4 Partnerships

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The report includes in-depth competitive analysis of these key players in the service procurement market, with company profiles, recent developments, and key market strategies. The research report segments the service procurement market by solution, service, deployment type, organization size, vertical, and region.

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