Industry Analysis & Industry Trends
The industry has expanded over the past five years. This is primarily because businesses chose to outsource procurement sourcing activities in order to improve cost efficiencies. Demand from public-sector organisations also increased because of pressures on public spending. In addition, rising IT and telecommunications adoption made it easier to outsource activities to industry operators. Improvements in business capital spending also increased business capacity levels, which in turn increased the need for industry services. However, weak manufacturing activity and the closure of many retail stores constrained growth, as they a key market for the industry. Industry revenue is projected to grow at a compound annual rate of 4.1% over the five years through 2016-17 to £1.6 billion... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Procurement Outsourcing Services industry is estimated to be in the growth stage of its life cycle. The industry's contribution to the economy, which is also known as its value added, is forecast to increase at a compound annual rate of 3.8% over the 10 years through 2021-22. The UK economy is expected to grow at a compound annual rate of 2.3% over the same period. This indicates that the industry will account for a growing share of the economy.
The number of firms operating in the industry is forecast to rise further over the coming five years. Firms in various different industries are expected to acquire services from industry participants when they decide to focus on their core functions and once they realise the benefits that can be obtained. Wid.. purchase to read more