Procurement Intelligence Study Report

Employee relocation encompasses the comprehensive process of transferring one or multiple employees from one geographical location to another. Such relocations may involve a move within the same city, to a different urban center, or even to a foreign country. These transitions can occur either voluntarily or involuntarily. In voluntary relocations, employees initiate the request for the move, which employers may choose to support. On the other hand, involuntary relocations are instigated by the employer, necessitating the employee's acceptance of the relocation terms to maintain their employment within the organization. Employee Relocation - Procurement Intelligence The employee relocation sector is poised for gradual growth, projected to achieve a Compound Annual Growth Rate (CAGR) of 1.2% from 2023 to 2030. With the post-pandemic period witnessing a return to normalcy, an increasing number of employees are expressing willingness to relocate for suitable career opportunities. Pr...

Do you know, Zest's recent research reveals a significant trend: nearly half of all employers, accounting for 48%, have reported an uptick in their investments towards enhancing their benefits packages within the past year, a strategic maneuver prompted by the dynamic shifts in the economic landscape. This insightful research brings to light the formidable challenges confronting businesses amid today's fiercely competitive job market, with a substantial 42% of enterprises contending with recruitment obstacles. The intensifying competition for talent has cast a shadow of concern over a notable portion of employers, with more than a third—specifically 36%—expressing apprehension about their capacity to keep pace with rivals' salary escalations. This palpable worry stems from a fear of falling short in both attracting and retaining the right talent, underscoring the pivotal role of comprehensive benefits packages in the ever-evolving realm of talent acquisition and retention ...

The global waste management category is anticipated to grow at a CAGR of 5.4% from 2023 to 2030. Factors that influence the growth include stringent government regulations for effective management of waste, rising global population, increased commercialization and industrialization, continuous development in urban & rural transportation, and rise in e-waste due to technological advancements. Waste production tends to grow with urbanization due to higher consumption of packaging materials. Consequently, there's a greater demand for the services offered in the category. In addition, technological advancements have increased the effectiveness of waste management practices thereby reducing their harmful environmental impact. However, the absence of necessary infrastructure for waste collection and separation can hinder the category’s growth. With the increase in construction projects across the globe, urban localities are utilizing more materials for construction and demolition.I...

Blockchain Category - Procurement Intelligence The   blockchain category is anticipated to expand at a CAGR of 87.7% from 2023 to 2030. North America accounts for the largest share of the category. The increasing demand for digital processes in the business is boosting growth. Companies are focusing on adopting technology for smooth transaction processes and data transparency. For instance, in January 2022 Walmart used blockchain technology to improve its supply chain by tracing storage of goods within seconds using the technology. DeFi is a financial system that is built on top of blockchain technology. It allows users to access financial services without the need for a central authority, such as a bank. DeFi is still in its early stages, but it has the potential to revolutionize the way individuals and/or businesses think about finance. Order your copy of the   Blockchain Procurement Intelligence Report, 2023 - 2030 , published by Grand View Research, to get more det...

Fasteners Category Overview The fasteners market is poised for substantial growth, with a projected CAGR of 4.42% from 2023 to 2030. Among regions, APAC stands out with a commanding share of over 40%, expected to maintain its status as the fastest-growing region in the forecast period. The surge in demand within the construction and automotive sectors is a key driver propelling the rapid expansion of the fasteners category. These essential components, offering semi-permanent or occasionally permanent solutions, are witnessing heightened traction due to various factors including advancements in construction industry practices, ongoing research and development endeavors, expansion in urban real estate infrastructure, and technological innovations geared towards producing lightweight materials for automotive and industrial applications. Additionally, the introduction of inventive industrial fasteners further amplifies the growth trajectory of this category. In the construction realm, fa...

Energy-as-a-Service (EaaS) represents a transformative approach wherein customers gain seamless access to energy management solutions devoid of any initial investments. These customizable services encompass a spectrum of offerings ranging from asset management to optimized energy consumption strategies, all meticulously designed to align with each customer's unique energy objectives. Underpinned by contractual agreements with specialized service providers, EaaS operates akin to the software-as-a-service model, liberating clients from capital-intensive outlays such as equipment procurement and maintenance costs. Instead, clients simply pay for the uninterrupted delivery of services, fostering a sustainable and cost-effective energy management paradigm. Energy-as-a-Service Category Overview The energy-as-a-service sector is poised for significant expansion, projected to achieve a robust Compound Annual Growth Rate (CAGR) of 9.20% from 2023 to 2030. North America emerges as the prim...

Tube Packaging Category Overview The global tube packaging category is projected to grow at a CAGR of 5.7% from 2024 to 2030. Key factors driving the growth of the global category include growing consumption of personal care products, rising use of flexible packaging formats, advancements in packaging technology, increasing demand from emerging markets, and a surge in requirement within the pharmaceutical sector. Some of the major trends in the market include rise in usage of biodegradable and sustainable products, growing prioritization of consumer safety, increase in product innovations, emergence of paper-based tube packaging, and rising adoption of minimalist design. For instance ,  paper-based tube packaging is increasingly being used for food items, cosmetics, personal care products, textiles, and apparels, as it offers a natural and eco-friendly alternative to traditional plastic packaging. Paper-based tubes are lightweight and cost-effective and are durable and c...

  Polyethylene (PE) Film Category Overview The polyethylene (PE) film category is anticipated to grow at a CAGR of 4% from 2024 to 2030. The demand for the category is driven by its application in various industries such as packaging, agriculture, and construction. The growth is also fueled by its cost-effectiveness, durability, and versatility. The increasing global awareness about sustainability and environmental issues is having a positive impact on category expansion. Additionally, the demand for bio-PET film is being propelled by various factors, including the growing preference for bioplastics, supportive government regulations, and the expanding utilization of bio-PET film across packaging, printing, electrical & electronics, pharmaceutical, and cosmetic industries. Most of the suppliers are focusing on manufacturing sustainable packaging to meet growing demand. For instance, in November 2023, Smurfit Kappa developed a recyclable PE film in the U.S. that can substitut...

Heavy Mining Equipment Category Overview Anticipated to experience steady growth, the heavy mining equipment category is projected to achieve a Compound Annual Growth Rate (CAGR) of 3.5% from 2023 to 2030. This segment holds significant sway, accounting for approximately 50% to 60% of the overall mining equipment industry. The dominance of the Asia Pacific region in mining activities is a key factor propelling the expansion of this category, driven by robust global demand for metals and minerals across various sectors. Key Factors Driving Growth: The relentless expansion of mining activities in the Asia Pacific region, fueled by burgeoning demand for metals and minerals, underscores the pivotal role this region plays in driving growth. Moreover, the foundational support provided by the mining industry itself contributes to the buoyancy of the heavy mining equipment category. Industries such as power and cement are instrumental in bolstering demand, courtesy of rapid infrastructure e...

Corporate cards are the game-changer, seamlessly integrating into your ecosystem. Empower employees to make authorized purchases instantly, eliminating bureaucratic headaches and boosting productivity. Enjoy real-time expense tracking, automatic reconciliation, and valuable data insights at your fingertips. Negotiate better supplier deals with bulk purchasing power, and watch your bottom line flourish. Corporate cards – the key to unlocking agility, control, and cost savings in your procurement journey. Corporate Cards Category Overview The corporate cards sector anticipates a steady expansion, projecting a compound annual growth rate (CAGR) of 7.3% from 2023 through 2030. Notably, merchants in emerging economies exhibit a notable embrace of corporate cards, largely owing to the convenience facilitated by major network providers such as Visa, MasterCard, and Amex. This heightened acceptance is propelled by the allure of streamlined payment processing and enhanced financial manag...