The demand for business process as a service (BPaaS) is expected to reach US$ 55,542.7 million in 2022 and is projected to increase at a CAGR of 11.0% to reach US$ 157,505.5 million from 2022 to 2032. Rising end-user industry adoption is credited with growth. The business process-as-a-service (BPaaS) market experienced a CAGR of 9.0% from 2016 to 2021.
Business Process as a Service (BPaaS) Market – Global industry segment analysis, regional outlook, share, growth; business process as a service (bpaas) market forecast 2016 to 2026 by future market insights. Business process as a service (BPaaS) is providing business processing outsourcing (BPO) service through cloud services. BPaaS can cater various business process including horizontal and vertical business services. Now-a-days, the companies are looking for service oriented approach to fulfill their BPO services need which is one of the reasons cloud services has witnessed traction in its adoption globally. Companies are adopting BPaaS solutions to obtain competitive edge and distinguish themselves from their competitors by focusing on their core business.
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Growing acceptance of technologies such as cloud computing, business analytics, social media platforms, and process automation software are contributing to the growth of the market. BPaaS solutions assist in reducing cost and increasing operational efficiency by restructuring the system background, hence, providing a technological environment on a unified centralized platform.
Features of BPaaS
- It includes all the three fundamental cloud services: SaaS, PaaS, and IaaS
- It contains well deigned set of application programming interface (API)
- It is able to handle massive scaling of process
Business Process as a Service (BPaaS) Market: Drivers and Challenges
The main driver of BPaaS market is growing need to improve business process agility at minimum cost. The growing adoption of service models with suitable payment options is also contributing in the growth of the market, with service providers offering pay per use pricing options. Factors such as globalization of markets, prominence of cloud technology, increasing adoption trend of BPaas in SMBs, and increased IT spending are also driving the growth of global BPaaS market.
Currently several cloud based applications are available in BPaaS market. The biggest challenge is identifying the most suitable business process service plan to cater the need of particular organizational function, and deploying it smoothly in current work scenario. In business organization, the existence of problem with IT integration is prevalent. Lack of understanding of cloud and integration of BPaaS solutions within the existing infrastructure results in different business process outcomes, this is another challenge global BPaaS market is facing.
Business Process as a Service (BPaaS) Market: Segmentation
Segmentation of business process as a service (BPaaS) market on the basis of process:
- Human Resource
- Finance and Accounting
- Marketing and Sales
- Regional Overview
North America presents largest market opportunity for BPaaS service providers, in countries such as the U.S. and Canada, the growing desire to reduce the capital expenditure and improve operational efficiency is driving business organization to adopt BPaaS solutions.
In Asia-Pacific region, the growth of market is driven by expanding enterprise sector and broadband penetration in countries such as China and India. In Europe region, there is a growing need among the business organizations to deploy a holistic solutions that would address the total cost of service delivery rather than just operational cost. Business enterprises in Latin America and Middle East and Africa regions are adopting BPaaS solutions in order to overcome outdated technological glitches that reduce the effectiveness of business process.
Accenture, Cognizant Technology Solutions, Cap Gemini S.A., Computer Science Corporation (CSC), and Fujitsu Limited are the key players of global BPaaS market.
The report covers exhaustive analysis on
Business Process as a Service (BPaaS) Market Segments
- Business Process as a Service (BPaaS) Market Dynamics
- Historical Actual Market Size, 2013 – 2015
- Business Process as a Service (BPaaS) Market Size & Forecast 2016 to 2026
- Supply & Demand Value Chain
- Business Process as a Service (BPaaS) Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
- Business Process as a Service (BPaaS) Market Drivers and Restraints
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Regional analysis for Business Process as a Service (BPaaS) Market includes development of these systems in the following regions
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- France
- Germany
- Italy
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Key Segments Profiled in the Business Process-as-a-Service (BPaaS) Industry Survey
Business Process-as-a-Service (BPaaS) Market by Process:
- Human Resource
- Finance and Accounting
- Marketing and Sales
Business Process-as-a-Service (BPaaS) Market by Region:
- North America Business Process-as-a-Service (BPaaS) Market
- Latin America Business Process-as-a-Service (BPaaS) Market
- Europe Business Process-as-a-Service (BPaaS) Market
- Asia Pacific Business Process-as-a-Service (BPaaS) Market
- Middle East and Africa Business Process-as-a-Service (BPaaS) Market
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