Procurement As A Service Market Is Likely To Up Demand At A USD 10.29 Billion By 2028
San Francisco, 8 July 2021: The Report Procurement As A Service Market Size, Share & Trends Analysis Report By Component (Strategic Sourcing, Category Management), By Organization, By Vertical, By Region, And Segment Forecasts, 2021 - 2028 The global procurement as a service market size is expected to reach USD 10.29 billion by 2028 and is anticipated to expand at a CAGR of 8.2% from 2021 to 2028, according to a new report by Grand View Research, Inc. The proliferation of digital technology and the need to address supply chain risks have contributed to market growth. Although the COIVD-19 pandemic posed a minor hiccup to the otherwise positive market outlook, the industry may reach pre-covid levels by 2022. On average, over 60 percent of the organization's spending is captured by sourcing and procurement-related functions. Therefore the demand for providers that help reduce this cost will drive market growth over the forecast period. Digital transformation has resulted in