middle east and africa procurement as-a-service Market

The Procurement as-a-Service market in Middle East and Africa is expected to grow from US$ 108.4 million in 2019 to US$ 165.9 million by 2027; it is estimated to grow at a CAGR of 6.60 % from 2020 to 2027.

Procurement service providers are focused on driving down costs; also, advanced technologies and advanced analytics are used to enhance the procurement and supply chain experience, accelerate customer satisfaction, and free up working capital. For instance, AI-based procurement solutions are using machine learning technologies and are using probabilistic models.

Middle East and Africa is active in adopting the latest technologies and implementing it in various industries. These technologies need accurate data sources in order to learn from and be effective. AI-based procurement solutions developed recently, and several companies in the region are looking to start automating their core processes to offer a developed base framework for AI to surge. AI helps to increase procurement control; thus, it’s a huge opportunity for procurement service providers to adopt such advanced technologies to ease the business process.

However, the continuous growth of infected individuals due to corona virus has led the government to impose lockdown across the nation’s borders and the majority of the manufacturing plants are shut down, which is negatively impacting on the Procurement as-a service market.

The overall Middle East and Africa procurement as-a-service market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Middle East and Africa procurement as-a-service market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Middle East and Africa procurement as-a-service market are Accenture; Genpact Ltd; GEP; HCL Technologies; IBM Corporation; Infosys Ltd; Wipro Limited; and WNS (Holdings) Limited are among the major players in the market in this region.

The continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders and the majority of the manufacturing plants are shut down, which is negatively impacting on the Procurement as-a service market