SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Construction Professional Services Category Procurement Market Intelligence Report.
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Global Construction Professional Services Category Procurement Market Intelligence Report. (Graphic: Business Wire)
The global market for construction professional services (CPS) is fast emerging as a hyper-competitive arena, where most of the CPS firms are adopting advanced technologies such as 3D modeling and design virtualization to give themselves an edge above the competitors. These technologies are known to simplify the project implementation process and also minimize costs. This is promoting the demand for the construction professional services across several significant economies across the world. Of the different category segments, the growing demand for customized design and consulting services will influence the category spend growth rate during the forecast period. However, the spiraling labor costs pose as one of the biggest cons of this market which is resulting in skyrocketing procurement spend incurred by buyers.
Get the Free Sample copy of this construction professional services sourcing and procurement report to explore the expert-recommended category pricing strategies and track the exact year-over-year spend growth potential.
The residential construction sector in the US, including the private and public housing, is expected to undergo an exponential growth, which, in turn, will be the primary growth driver for the category spend momentum in the region. Prevalence of energy infrastructure assets will also drive the demand for construction professional services in the area. Favorable government policies and increasing expenditure in the construction sector will drive the category growth in APAC. This region is expected to emerge as one of the fastest growing markets in the years to come.
Insights offered in this construction professional services sourcing and procurement report include supply market forecasts, critical cost drivers, and category management insights. Such insights are relevant for both the buyers and the suppliers who seek a risk-free and a cost-effective procurement strategy. The category spend segmentation done in this market intelligence report will guide the investors in identifying the best investment areas as well as help them in identifying cost-saving opportunities in the market. Get free customization of this procurement market intelligence report on construction professional services to get information tailored to your every requirement.
"We advise buyers to collaborate with regional service providers who can help attain a high negotiation power due to spend consolidation,"says SpendEdge procurement expert Sumit Yadav. "They can offer low billing rates and can also lock prices even during fluctuations in currency exchange rates in that region," added Sumit.
This construction professional services sourcing and procurement report has estimated the following cost drivers to influence the category pricing strategies in the coming years:
- Adoption of tactical levers offers higher costs savings than strategic levers
- Rising labor cost poses significant risks for the CPS category
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SpendEdge's procurement market intelligence reports for the professional services category provide detailed supply market forecasts and cost drivers that impact category growth. Such information will help procurement managers as well as the suppliers to determine the total cost of ownership and change their procurement strategies accordingly. Additionally, SpendEdge's reports provide category management insights and information on the procurement best practices for the category.
Report scope snapshot: Construction professional services
Category pricing insights
- Pricing outlook
- Total cost of ownership analysis
- Supplier cost structure
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Cost-Saving Opportunities
- Supplier-side levers
- Buyer-side levers
- Quantifying cost savings by negotiation strategies
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Category ecosystem
- Competitiveness index for suppliers
- Buyer power
- Supplier power score
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About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal
View source version on businesswire.com: https://www.businesswire.com/news/home/20190205005578/en/
Contacts:
SpendEdge
Anirban Choudhury
Marketing Manager
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UK: +44 148 459 9299
https://www.spendedge.com/contact-us
