The rise in the number of freelancers, effective expenditure management on contractual workers, and elevated emphasis on workforce analytics are boosting the service procurement market. 

The global service procurement market is forecast to reach USD 1,494.9 Million by 2026, according to a new report by Reports and Data. Significant growth in the service procurement market is forecasted to be observed during the forecast period. The growth and expansion of the service procurement market is the result of the combination of several factors. Continuous emphasis on increasing productivity among end-user industries, increased demand for human resources, the rise in the number of freelancers, and elevated focus on workforce analytics are some of the factors contributing to the growth of the market. 

There are various advantages associated with service procurement solutions that are increasing its acceptance and incorporation among end-user industries. Integration of service procurement solutions, provide the client-companies with comprehensive research on value and cost along with effective negotiation with independent contractors. Such in-depth analysis turns out to be beneficial for them in increasing their profitability and cost-savings. These benefits of service procurement solutions have increased its incorporation in the operation of end-user industries. Different initiatives taken by the industry players positively impact the market expansion. As an instance, in 2018, Coupa had launched Services Maestro and had acquired DCR Workforce, a key player of the market. Such initiatives by industry players result in the market presence of new players and subsequent expansion of the market.

 The global information and communications technology (ICT) market registered steady revenue growth in 2020, and market size is expected to increase further over the forecast period. Factors contributing to the global ICT market revenue growth are growing penetration of smart mobile devices such as smartphones, tablets, and smart watches, rapid adoption of state-of-the-art technologies such as AI, machine learning, Internet of Things (IoT), big data analytics, and cloud computing, and rapid digitalization across numerous  industries including the banking & finance, education, healthcare, automotive, oil & gas, agriculture, buildings & construction, and power & energy industries. Increasing accessibility of the Internet across the globe, emergence of the 5G technology, growing need for faster Internet services for rapid data transfer & processing, introduction of advanced Wi-Fi systems, and rising data security and user safety concerns among consumers are some of the other factors expected to drive the ICT market revenue growth.  

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Table of Contents:

 

1. Report Overview 
1.1 Research Scope
1.2 Key Service Procurement market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline

 

2. Global Growth Trends 
2.1 Global Service Procurement market size
2.2 Latest regional market trends
2.3 Emerging growth trends

 

3. Competitive Outlook 
3.1 Global Service Procurement market key players
3.2 Global Service Procurement size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Service Procurement market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances

 

Regional Markets Highlighted in the Global Service Procurement Market Report:

 

·       North America

o   U.S.

o   Canada

o   Mexico

·       Europe

o   Germany

o   U.K.

o   Italy

o   France

o   BENELUX

o   Rest of Europe

·       Asia Pacific

o   China

o   India

o   Japan

o   South Korea

o   Rest of Asia Pacific

·       Latin America

o   Brazil

o   Rest of Latin America

·       Middle East & Africa

o   Saudi Arabia

o   U.A.E.

o   South Africa

o   Rest of Middle East & Africa

Top Companies Profiled in the Report:

PRO Unlimited, Beeline, DCR Workforce, Upwork, Peoplefluent, Provade, Workmarket, Field Nation, Superior Group, and Pixid.

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