Global Business Process as a Service (BPaaS) Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
"Global Business Process as a Service (BPaaS) Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global business process as a service market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global business process as a service market report has been segmented on the basis of business process, organization, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Business process as a service (BPaaS) is a software solution package offered by cloud service providers to enable business process outsourcing (BPO) over a cloud computing service model. BPaaS provides fast time to market (TTM) and enhanced customer experience across various platform which aid business processes by estimating and optimizing capital investments and improvising operational expenditures.
Increasing adoption for cloud based platform services and solutions among diverse enterprises is expected to be a key factor to drive growth of the global BPaaS market. Cloud based platforms services offer vital benefits such as, virtual clinical operations, order management as a service, digital asset management, utilization management and care management solutions, customer experience centers and business reporting. Furthermore, BPaaS services trend in cloud computing technology owing to gain several benefits such as, to reduce operational cost, reduce total cost of ownership (TCO), and to optimize time to market (TTM) delivery.
Increasing prominence of cloud-based business process managements in operation management processes at diverse horizontals of an organizations is expected to proliferate growth of global BPaaS market exponentially. These is attributed to features of BPaaS, such as to account management facilities, for administration of finance database, human resource, and capital management, and customer services and support responsive systems. Adoption of BPaaS application leverages maximum agility and responsiveness in cloud-based ecosystem by integrating services, processes, applications, and infrastructure. This in turn expected to propel growth of the global target market.
Increasing need for enhancements of business processes to reduce overall cost expenditure is expected to be the key factor to boost growth of global BPaaS market. Rise in business process analytics owing to benefits provided by BPaaS model such as optimized end-to-end delivery outcomes, human resource management, customer services, sales, and marketing management is estimated to support growth of the global BPaaS market.
In addition, flexible business models that help to optimize capital expenditure (CAPEX), manage operational expenses (OPEX), and to predict revenue for long period of time is expected to proliferate growth of the global BPaaS market in the near future. Moreover, rising demand for virtualization and automation tools in platform as a service (PaaS) and in cloud business process management (BPM) is expected to anticipate growth of global BPaaS market.
However, rising concerns related to data violation threats and digital fraud is a major factor expected to restraint growth of global targeted market. In addition, existing conventional IT infrastructure scalability is another factor expected to hamper growth of the global BPaaS market to a certain extent.
Analysis by region:
The North America market is expected to dominate the global market in terms of revenue owing to high adoption rate for cloud based networks which helps to lower TCO. This high adoption of cloud infrastructure has led to drive revenue growth in terms of revenue factors, such as to lower capital expenditures. Asia Pacific region is expected to witness lucrative growth of global BPaaS market in terms of revenue owing to crunch in resources to generate in-house facilities by adopting cloud based platform services. The Latin America and Middle East and Africa regions are expected to anticipate advent growth owing to increasing investment by the government and private sector organizaitions for sophisticated cloud infrastructure and services. In Europe, growing awareness about BPaaS among divers organizations is key factor anticipated to propel growth of the global BPaaS market.
Global Business Process as a Service (BPaaS) Market Segmentation:
Segmentation by business process:
- Human Resource Management
- Accounting and Finance
- Sales and Marketing
- Customer Service and Support
- Procurement and Supply Chain
Segmentation by organization:
- Small and Medium Enterprises (SME’s)
- Large Enterprises
Segmentation by application:
- Telecom and Information Technology (IT)
- Banking, Financial Services and Insurance (BFSI)
- Automotive and Manufacturing
- Ecommerce and retail
- Healthcare and Pharmaceutical
- Government and Private Enterprises
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Wipro Limited
- TCS Limited
- Capgemini LLC
- Accenture plc
- IBM Corporation
- Fujitsu Limited
- Genpact Ltd
- Tech Mahindra, Inc.
- Cognizant Technology Solutions Corporation
- Oracle Corporation
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