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Global Procurement Outsourcing Market Set to Grow at 11.7% CAGR | Key Players: IBM, Accenture, Infosys | Valuates Reports

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BENGALURU, India, April 12, 2025 /PRNewswire/ –Procurement Outsourcing Market is Segmented by Type (Direct Procurement, Indirect Procurement), by Application (CPG and Retail, BFSI Sector).

The Procurement Outsourcing Market was valued at USD 5577 Million in the year 2024 and is projected to reach a revised size of USD 11970 Million by 2031, growing at a CAGR of 11.7% during the forecast period.

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Major Factors Driving the Growth of Procurement Outsourcing Market:

The Procurement Outsourcing Market is shifting from tactical staff‑augmentation contracts to outcome‑based partnerships that encompass category strategy, supplier‑innovation programmes, and integrated payables. Competitive landscapes blend global business‑process‑outsourcing giants, boutique category specialists, and consultancies bundling advisory with managed services. Consolidation through mergers and strategic alliances aims to create end‑to‑end source‑to‑pay platforms, while emerging players exploit niche verticals and mid‑market gaps. Sustained double‑digit growth appears likely as economic uncertainty, ESG imperatives, and talent constraints converge, positioning procurement outsourcing as a cornerstone of enterprise resilience and value creation.

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TRENDS INFLUENCING THE GROWTH OF THE PROCUREMENT OUTSOURCING MARKET:

Large manufacturers and retailers increasingly entrust the purchase of raw materials, components, and packaging to specialised outsourcing partners, transforming direct procurement into a growth engine for the Procurement Outsourcing Market. Service providers leverage aggregated demand across multiple clients to negotiate bulk discounts on metals, resins, and agricultural commodities, often securing double‑digit price reductions that would be difficult for a single buyer to achieve. They also run vendor‑managed inventory programmes that compress working‑capital cycles and minimise stock‑outs on high‑value production lines. By embedding commodity‑price hedging and supplier‑risk analytics into their playbooks, outsourcers stabilise margins for clients facing volatile input costs, turning procurement from a cost centre into a strategic lever that frees cash for innovation and expansion initiatives.

Travel, facilities management, marketing, and IT services account for a fragmented tail of low‑value, high‑volume purchases that drain internal resources. Outsourcing firms apply category expertise, standardised contract templates, and automated spend controls to rationalise thousands of suppliers into curated panels, delivering savings through consolidated volumes and process efficiencies. They also implement compliance checkpoints that prevent maverick spending, ensuring negotiated rates flow through to purchase orders and invoices. For finance leaders under pressure to unlock quick wins, indirect procurement outsourcing offers rapid payback without disrupting core operations. As success stories spread, organisations expand scopes from office supplies to complex professional services, driving recurring revenue for providers and deepening the market’s penetration across mid‑market and enterprise segments.

Banks, insurers, and capital‑market firms embrace procurement outsourcing to navigate stringent regulatory scrutiny, multilayered vendor‑risk assessments, and rising cost‑to‑income ratios. Providers familiar with financial‑services governance frameworks build dedicated centres of excellence that map supplier data to anti‑money‑laundering, data‑privacy, and resiliency requirements, accelerating vendor onboarding while maintaining audit‑ready documentation. By outsourcing procurement of software licences, facilities, and professional services, BFSI institutions redirect scarce internal talent toward digital banking initiatives and risk modelling. Fee‑based revenue structures align provider incentives with measurable outcomes such as cost‑per‑transaction reduction and cycle‑time compression. This alignment, coupled with board‑level mandates to shrink operating expenses, positions the BFSI vertical as a long‑term anchor for market growth.

Escalating inflation and shareholder demands for leaner operations push enterprises to extract savings beyond traditional sourcing tactics. Procurement outsourcers deploy advanced should‑cost modelling, global rate‑card benchmarking, and zero‑based budgeting disciplines to uncover hidden inefficiencies. Their ability to pool client spend unlocks volume rebates and early‑payment discounts unavailable to individual firms, translating into tangible EBITDA uplift that justifies multi‑year contracts and fuels steady market expansion.

C‑suites seek to channel managerial bandwidth toward product innovation and customer experience, not purchase‑order administration. Outsourcing non‑differentiating procurement processes transfers transactional workloads, supplier disputes, and audit preparations to specialists operating scalable shared‑service centres. Freed internal teams concentrate on strategic supplier collaboration and category innovation, reinforcing the value proposition and driving repeat engagements across additional business units.

Geopolitical instability, ESG mandates, and tightening trade regulations elevate supply‑chain risk profiles. Procurement outsourcers maintain dedicated compliance teams that track sanctions lists, conflict‑mineral disclosures, and labour‑practice certifications across vast supplier networks. Continuous monitoring and automated alerting shield clients from reputational damage and regulatory fines, making risk mitigation a decisive factor in outsourcing decisions.

Niche categories—such as specialised logistics, contingent labour, or clinical‑trial materials—demand deep market knowledge and supplier relationships that most companies cannot sustain in‑house. Outsourcing partners recruit seasoned category managers and maintain real‑time price indices, enabling rapid response to market swings and innovation pipelines. This depth of expertise delivers performance guarantees that exceed what generalist procurement teams can offer, spurring adoption across sectors.

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PROCUREMENT OUTSOURCING MARKET SHARE: 

Global Procurement Outsourcing main players are IBM, Accenture, GEP, Infosys, etc. Global top four manufacturers hold a share over 60%. North America is the largest market, with a share nearly 45%.

North America leads procurement outsourcing adoption due to mature shared‑service ecosystems and a strong focus on cost optimisation within publicly traded companies. Europe follows, driven by multi‑lingual service hubs in Eastern Europe and regulatory pressures that reward professionalised supplier governance.

Asia‑Pacific registers the fastest growth as multinationals expand regional sourcing offices and local champions in India and China seek global best practices.

Key Companies:

IBMAccenture PlcGEPINFOSYS LIMITEDCapgemini S AGenpact LtdTCSXchangingWNS

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

Service Procurement Market was valued at USD 900 Million in the year 2024 and is projected to reach a revised size of USD 1642 Million by 2031, growing at a CAGR of 9.1% during the forecast period.

– Procurement Consulting Services Market

Procurement Contract Management Tool Market was valued at USD 290 Million in the year 2024 and is projected to reach a revised size of USD 393 Million by 2031, growing at a CAGR of 4.5% during the forecast period.

Business Process Outsourcing (BPO) Services Market

Sourcing and Procurement Transformation Services Market

Digital Procurement Solutions Market was valued at USD 2896 Million in the year 2024 and is projected to reach a revised size of USD 5419 Million by 2031, growing at a CAGR of 9.5% during the forecast period.

Contractor Management Outsourcing (CMO) Market

Back Office Outsourcing Market was valued at USD 291620 Million in the year 2024 and is projected to reach a revised size of USD 471250 Million by 2031, growing at a CAGR of 7.2% during the forecast period.

Indirect Procurement Outsourcing Market was estimated to be worth USD 2481.9 Million in 2023 and is forecast to a readjusted size of USD 3253.5 Million by 2030 with a CAGR of 4.0% during the forecast period 2024-2030.

General and Administrative Outsourcing Market

Procurement Agency Services Market

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LendPro and SPLICE Software Announce Strategic Partnership to Enhance Retail Financing Engagement

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CHARLOTTESVILLE, Va. and CHICAGO, April 26, 2025 /PRNewswire/ — LendPro, a leading provider of cloud-based consumer financing solutions, and SPLICE Software, an award-winning customer engagement platform, are pleased to announce a strategic partnership aimed at transforming the retail financing experience.

This collaboration integrates LendPro’s multi-lender application waterfall system with SPLICE’s Data-Driven Dialogs®, enabling retailers to deliver personalized, timely, and compliant customer communications across multiple channels. The joint solution empowers merchants to increase financing approvals, drive higher ticket sales, and enhance customer satisfaction through seamless, automated engagement.

“Our partnership with SPLICE Software represents a major advancement in how merchants can engage with their customers after the initial financing conversation. By combining LendPro’s multi-lender application waterfall with SPLICE’s intelligent communication platform, we are creating a powerful ecosystem where merchants don’t just capture leads — they nurture them.” Said Matt Dishman CEO of LendPro

“Through this collaboration, merchants will now have the ability to drive Pre-Qualified Offers and Open-to-Buy financing opportunities back to the consumer — all tied directly to the original merchant who created the lead. This means merchants maintain ownership of their customer relationships, create more buying moments, and ultimately increase ticket sizes and lifetime value.”

“At LendPro, our goal has always been to empower merchants to serve more customers and close more sales. This partnership ensures that no opportunity is left behind — it brings financing full circle, from initial application to ongoing personalized engagement.”

“We are excited for what this means not only for our retailers, but for the future of embedded consumer financing and customer-centric marketing.”

“Our partnership with LendPro brings a new level of personalization and efficiency to retail financing communications,” said Tara Kelly, President & CEO of SPLICE Software. “Our combined technologies will enable retailers to engage customers more effectively, fostering stronger relationships and driving business growth.”

Come visit us Furniture Market in the Resource Center booth #12

About LendPro

Founded in 2011, LendPro offers a cloud-based lending platform designed to facilitate consumer applications for retail finance programs. The company’s platform enables consumers to apply for financing from multiple lender partners integrated into the Open-to-Buy ecosystem, covering a wide range of credit profiles. LendPro’s solutions are utilized across various industries, including home furnishings, medical and dental, mobile electronics, automotive, and jewelry.

About SPLICE Software

SPLICE Software is a leading customer engagement company focused on insurance, retail, financial services, and healthcare. SPLICE’s Data-Driven Dialogs® enable businesses to send proactive notifications and engage in two-way dialogues via their channels of choice, including text, chat, call, email, and voice-first, with full opt-in and opt-out management.

Media Contacts:

SPLICE Software

Email: PR@SPLICESoftware.com

403 720 – TEAM

LendPro         

Email: CEO@mylendpro.com                                   

Phone: (434) 202-0137     

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Meizu Dazzled at Geely Global Intelligent Mobility Expo, Showcasing the Appeal of Its Integrated AI Ecosystem in the World

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HANGZHOU, China, April 26, 2025 /CNW/ — Meizu participated in the Geely Global Intelligent Mobility Expo on April 25, 2025. Meizu set up an exhibition booth at the Geely Building Plaza in Hangzhou and delivered a keynote speech during the workshop session, introducing its smartphones, AR smart glasses, smart cockpit and other products to global consumers and demonstrating the appeal of its integrated AI ecosystem in the world.

As a key part of Geely’s promotion campaigns for Auto Shanghai 2025, the Geely Global Intelligent Mobility Expo attracted over 400 guests. Through diverse interactive activities, the event showcased Geely’s cutting-edge achievements and its ecosystem strategy in the smart mobility sector.

At Meizu’s booth, smartphones and wearable devices designed for overseas markets drew significant attention. Several foreign journalists experienced products such as AR smart glasses, showing particular interest in StarV View and StarV Air2. StarV View, utilizing a BirdBath solution, offers users an immersive 188-inch virtual screen equivalent to a 6-meter viewing distance, enabling on-the-go immersive entertainment. It is also the only smart glasses in its price range featuring 0-600° myopia adjustment. During a recent Dubai launch event, local attendees excitedly pointed at the StarV View and exclaimed, “I have to buy this!”

The StarV Air2 also attracted the attention of foreign journalists. When witnessing real-time translation of Chinese presentations into English displayed directly on the glasses, many guests exclaimed “Amazing!” and captured the amazing moment on camera. Currently supporting 14 languages for bidirectional translation, StarV Air2’s “multilingual AI-powered real-time translation” feature has been used for over 390,000 hours, accompanying users to travel across more than 30 countries and regions. It facilitates seamless communication in business meetings and travel.

Beyond translation, StarV Air2 integrates functions like teleprompter, AR navigation, meeting assistance, music, etc. Its voice-to-text feature also bridges communication gaps for hearing-impaired users by converting speech into text in real time.

During the workshop, Peng Bo, Meizu’s Product Director, delivered a keynote speech titled “Empowering Smart Glasses: How AI Technology Drives Innovation and Practical Applications”. Peng Bo emphasized that AI-enabled smart glasses extend human senses, transforming them into versatile terminals integrated into daily life, and smart glasses may emerge as the next-generation personal computing devices and AI terminals to unlock a huge market worth hundreds of billions of yuan. Moving forward, Meizu will continue innovating AR smart glasses by enhancing product performance and battery life through AI integration, while collaborating with more partners to expand application scenarios of AR smart glasses.

Meizu’s booth epitomized its accelerating global expansion. Starting from product development, Meizu has defined products to meet the requirements of users from different countries and regions to support its globalization. These products have been recognized and welcomed by overseas users. With its overseas footprint expanding, Meizu’s ecosystem products have been sold in many countries and regions such as Asia-Pacific, Latin America, the Middle East, Central Asia, and Europe, and cars equipped with Flyme Auto have been exported to the Middle East, Eastern Europe, Asia-Pacific and other regions. Meizu’s overseas AI ecosystem products integrating “people, cars, and homes” have taken shape.

Meizu is the smartphone brand of DreamSmart Group, which carries AI eco-products in three product areas, which are smartphones, XR and smart cars. With deep technological expertise in multiple industries, DreamSmart is recognized as a leader in smart ecosystems.

In 2025, Meizu is advancing its globalization strategy, partnering with Geely to host new product launch and interaction events in Indonesia, Sri Lanka, the Philippines, Vietnam, Australia, the UAE, and other countries. In the future, Meizu will hold more than 10 product events overseas to launch more new products for the global market, and build ecological experience stores presenting smartphones, cars, and glasses overseas. Meizu will also work with Geely to build a premium tech ecosystem brand to export products, technologies, and ecosystems, showcasing the appeal of integrated AI ecosystem to more overseas users.

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ORMCO™ ANNOUNCES THE LAUNCH OF SPARK™ RETAINERS & SPARK BITESYNC™ CLASS II CORRECTOR SYSTEM

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– New Offerings Provide Further Clinical Flexibility and Overall Simplicity to Workflow Within the Spark Software –

BREA, Calif., April 26, 2025 /PRNewswire/ — Ormco Corporation, a leading provider of innovative orthodontic solutions for over 60 years, is excited to announce the official launch of Spark™ Retainers and BiteSync Class II Corrector in the United States. Developed for doctors and patients, Spark Retainers bring a new level of comfort, durability, and clinical flexibility to orthodontic retainers whether treating with Spark™ Clear Aligners, Ormco™ Digital Bonding, or fixed brackets. With the debut of BiteSync, Spark now offers an innovative solution for mandibular advancement for Class II patients in growing stage and for adults, consisting of the Occlusion Guide for mandibular advancement and the SideBar for maxillary distalization, which can be used combined or separate. The BiteSync system allows a flexible workflow customized for each patient’s needs and added simplicity within the Spark software. The official unveiling will take place at AAO (American Association of Orthodontists) in Philadelphia, PA, April 25-27, 2025 (Booth #1015).

“Through Spark technology, I can extend the same premium patient experience from initial treatment through retention. The clinical options with Spark Retainers help me maintain the beautiful smile outcomes I achieve with Spark Clear Aligners, Ormco Digital Bonding, or Damon Ultima™ braces,” said Dr. Colby Gage1. “My Spark Aligner patients continue to love the clarity, comfort, and less staining they enjoyed while in treatment.”

“BiteSync has corrected Class II cases quickly and efficiently in my practice. I’m getting bite correction in less than 6 months2. It has worked great for my teen and adult patients3,” said Dr. Jennifer Messenger.

Key Features & Benefits of Spark Retainers:

Clinical Flexibility: Spark Retainers provide clinical flexibility with customizable options, including bite ramps, pontics, trimlines, and the option to choose your preferred scanner.Single Platform Management: Improve practice efficiency by managing Spark Clear Aligners, Ormco Digital Bonding and Spark Retainer patients all in one place.Streamlined Ordering: Order any number of trays the patient needs and fabricate from a new scan or T2 position of a Spark patient. No subscription required.Premium Materials: Spark Retainers are crafted from the same advanced TruGEN™ XR materials, ensuring the same premium performance customers have come to expect from Spark Clear Aligners.Comfort & Fit: Designed with patient comfort in mind, Spark Retainers can be scalloped or trimmed with extended coverage to ensure an optimal, comfortable fit. The design ensures that patients are at ease while maintaining an effective orthodontic result.Durability and Longevity: Spark Retainers are lab-tested to meet rigorous durability standards, providing long-lasting results and contributing to the overall success of orthodontic treatment4.Stain Resistance: Powered by TruGEN technology, Spark Retainers maintain their clarity and are resistant to staining, offering a clean, aesthetic appearance throughout their use.

Key Features & Benefits of BiteSync Class II Corrector System:

Effective: The SideBar and Occlusion Guide are tested for durability and work together to achieve a more desirable bite profile.Efficient: Mandibular advancement can occur simultaneously with dental tooth movement within the same aligner stages.Simple: No additional Class II appliance is needed. Select the Spark BiteSync option within the Spark DTX Portal, design, and approve the case.Flexible: Can be used in both mixed and permanent dentition. The SideBar or Occlusion Guide can be used together or separately, depending on treatment goals.

“We are excited to bring Spark Retainers to our doctors so they can maintain their patients’ new smiles with a retainer designed to be long-lasting and more comfortable. We have advanced our digital efficiencies, giving clinical flexibility and premium product performance our customers have come to expect from Ormco,” said Jay Issa, Vice President Portfolio Management, Ormco. “In addition, with the launch of BiteSync, we can now effectively treat Class II malocclusions eliminating the need for a separate appliance or software by utilizing two modes of Class II correction built into the Spark software and Spark Aligners. This differentiates us from other Class II technology seen from competitive aligner companies,” he continued.

Spark Retainers and the BiteSync Class II Corrector System are now available in the United States and Canada. For more information on Spark Retainers, visit https://ormco.com/en-us/spark-retainers. For information on BiteSync, visit https://ormco.com/en-us/spark-clear-aligner-solution#BiteSync.

About the Spark™ Clear Aligner System
Spark Aligners are manufactured by Ormco, a global leader in innovative orthodontics products, with 60 years of expertise, R & D and high manufacturing standards. Ormco has helped doctors treat more than 20 million patients in more than 140 countries. Spark Approver Software is designed to give doctors more control and flexibility, while Spark’s advanced aligner technology and TruGEN™ material provide more sustained force retention. Compared to the leading aligner brand and when contacting the same tooth, the Spark Aligner has 18% better surface contact with the tooth and is also designed to be more clear and more comfortable than the leading aligner brand, and stain less than the leading aligner material — which may be why 100% of patients recently surveyed said they would recommend Spark Aligners to a friend.5

For more information about Spark Aligners, visit https://ormco.com/en-us/spark.

About Ormco
Envista is a global family of more than 30 trusted dental brands, including Ormco, Nobel Biocare, DEXIS, and Kerr, united by a shared purpose: to partner with professionals to improve lives.  Ormco, headquartered in Brea, Calif., is a global leader and innovator of orthodontic products and solutions to help enhance the lives of its customers and their patients. For more than 60 years, Ormco has partnered with the orthodontic community to help create over 20 million smiles in over 140 countries. Distinguished products range from twin brackets (Symetri™ Clear Brackets, Titanium Orthos™ and Mini Diamond™) to pioneering self-ligating appliances with the Damon™ System (including Damon Ultima™ System and Damon™ Clear2). The Spark™ Clear Aligner System is designed to meet the needs of the orthodontist with the TruGEN™ material and Approver Software. Ormco’s Insignia™ Advanced Smile Design™ provides an all-inclusive customized indirect bonding solution for efficiency through personalization. From personalized service to professional education programs and marketing support, Ormco is committed to helping orthodontists achieve their clinical and practice management objectives. Connect on Facebook at www.facebook.com/myormco and LinkedIn at www.linkedin.com/company/ormco.

_______________________________________

1 Dr. Colby Gage and Dr. Jennifer Messenger are paid consultants for Ormco. The opinions expressed are those of the doctors. Ormco is a medical device manufacturer and does not dispense medical advice. Clinicians should use their own judgment in treating their patients.

2 Results may vary.

3 Adult patients may be treated with the Sidebar feature of BiteSync for distalization.

4 Data on file. Spark Retainers were lab tested to withstand at least 450 insertion/removal cycles.

5 Data on file at Ormco Corporation.

 

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