BPaaS encompasses a wide range of vertically integrated hardware infrastructure, database, middleware, and business application software, as well as optimized processes and people. BPaaS models have proved excellent outcomes for a variety of business processes and are increasingly being used by small and medium-sized organizations (SMEs). Through ongoing software improvements, leading players are devoting substantial resources to find key opportunity areas and keep up with the market's expanding rivalry. Government rules and greater usage of cloud computing have made the sector extremely competitive.
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Data Bridge Market Research analyses that the Business Process as a Service (BPaaS) Market, which was USD 45,816.99 million in 2020, is expected to reach USD 119,238.87 million by 2028, at a CAGR of 12.70% during the forecast period of 2021-2028. The growing need for businesses to comply with information security requirements in order to avoid hefty fines and instill trust in their consumers is a major reason driving the rise of the business process as a service (BPaaS) market. The use of business process as a service (BPaaS) for optimizing various workflows by scheduling them in an automated manner is a major aspect that will create an opportunity for the market to expand.
Growing focus on improving the customer experience is expected to drive the market's growth rate
BPaaS enables a better client experience. Accounting, human resource management, customer support, sales, and marketing are just a few of the business activities that it handles end-to-end. These are adaptable business models that aid in the optimization of capital expenditure (CAPEX) while keeping operational expenses (OPEX) predictable and commensurate to business volume. This will bolster the growth rate of the market in the upward direction.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013- 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Solution (Platform and Services), Deployment Model (Public Cloud, Private Cloud and Hybrid), Business Process (Finance and Accounting, Human Resource (HR & Payroll), Sales and Marketing, Customer Service and Support (Customer Experience), Operations, Analytics, Procurement and Supply Chain Management and Others), Organization Size (Large Enterprises and Small and Medium-Sized Enterprises (SMES)), Application (Supportive, Managerial, Operational and Connected Market Area), Cloud Delivery Model (SaaS Based Business Process Service (SaaS BP Service), PaaS Based Business Process Service (PaaS BP Service) and IaaS Based Business Process Service (IaaS BP Service)), End-User (Banking, Financial Services, and Insurance (BFSI), Government, IT and Telecommunication, Manufacturing, Healthcare, Retail and E-Commerce, Media and Entertainment and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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IBM (U.S.), Oracle (U.S.), Wipro Limited (India), Capgemini (France), Cognizant (U.S.), Accenture (Ireland), Tata Consultancy Services Limited (India), HCL Technologies Limited (India0, NTT DATA, Inc. (Japan), DXC Technology Company (U.S.), Open Text Corporation (Canada), FUJITSU (Japan), Genpact (U.S.), ADP, Inc. (U.S.), Alight (U.s.), UKG Inc. (U.S.), WNS (Holdings) Ltd. (India), Conduent, Inc. (U.S.), Expertel S.A (U.S.), TIBCO Software Inc.(U.S.), Entercoms (U.S.), Avaloq (Switzerland), Scheer PAS Deutschland GmbH (Germany), Ceridian HCM, Inc.(U.S.)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis
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Segment Analysis:
The business process as a service (BPaaS) market is segmented on the basis solution, deployment model, business process, organization size, application, cloud delivery model and end-user.
- On the basis of solution, the business process as a service (BPaaS) market is segmented into platform and services.
Platform segment of solution segment is anticipated to dominate the business process as a service (BPaaS) market
Platform segment is expected to dominate the global business process as a service (BPaaS) market and is expected to reach USD 36,021.45 million in 2022 owing to the increasing concern of organization towards improving customer experience.
- On the basis of deployment model, the business process as a service (BPaaS) market is segmented into public cloud, private cloud and hybrid. Public cloud segment is expected to dominate the global business process as a service (BPaaS) market and is expected to reach USD 30,646.33 million in 2022 owing to the increasing digitalization among industries.
- On the basis of business process, the business process as a service (BPaaS) market is segmented into finance and accounting, human resource (HR & payroll), sales and marketing, customer service and support (customer experience), operations, analytics, procurement and supply chain management and others. Human resources (HR & payroll) segment is expected to dominate the global business process as a service (BPaaS) market and is expected to reach USD 15,258.02 million in 2022 due to increasing concern for enhancing employee productivity which surges the demand for BPaaS.
- On the basis of organization size, the business process as a service (BPaaS) market is segmented into large enterprises and small and medium-sized enterprises (SMES).
Large enterprises segment of organization size segment is anticipated to dominate the business process as a service (BPaaS) market
Large enterprises segment is expected to dominate the global business process as a service (BPaaS) market and is expected to reach USD 33759.48 million in 2022 due to the increasing amount of unstructured data which resulted in high demand of BPaaS.
- On the basis of application, the business process as a service (BPaaS) market is segmented into supportive, managerial, operational and connected market area. Managerial segment is expected to dominate the global business process as a service (BPaaS) market and is expected to reach USD 23989.28 million in 2022 due to the increasing digitalization which is leading towards the high demand of the managerial role in the organization.
- On the basis of cloud delivery model, the business process as a service (BPaaS) market is segmented into SAAS based business process service (SAASBP service), PAAS based business process service (PAASBP service) and IAAS based business process service (IAAS BP service).. SAAS based business process service (SAASBP service) segment is expected to dominate the global business process as a service (BPaaS) market and is expected to reach USD 25426.77 million in 2022 due to increasing BYOD trend in the organization that has further resulted in growing demand for BPaaS.
- On the basis of end user, the business process as a service (BPaaS) market is segmented into banking, financial services, and insurance (BFSI), government, IT and telecommunication, manufacturing, healthcare, retail and e-commerce, media and entertainment and others. Banking, financial services, and insurance (BFSI) segment is expected to dominate the global business process as a service (BPaaS) market and is expected to reach USD 17026.41 million in 2022 owing to increasing adoption of internet penetration and big data which has further resulted in growing the demand of BPaaS.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: IBM (U.S.), Oracle (U.S.), Wipro Limited (India), Capgemini (France), Cognizant (U.S.), Accenture (Ireland), Tata Consultancy Services Limited (India), HCL Technologies Limited (India0, NTT DATA, Inc. (Japan), DXC Technology Company (U.S.), Open Text Corporation (Canada), FUJITSU (Japan), Genpact (U.S.), ADP, Inc. (U.S.), Alight (U.S.), UKG Inc. (U.S.), WNS (Holdings) Ltd. (India), Conduent, Inc. (U.S.), Expertel S.A (U.S.), TIBCO Software Inc.(U.S.), Entercoms (U.S.), Avaloq (Switzerland), Scheer PAS Deutschland GmbH (Germany), Ceridian HCM, Inc.(U.S.).
Market Development
- In 2020, Wipro Limited announced the launch of finance and accounting business-process-as-a-service in conjunction with NetSuite in May. This F&A BPaaS is a complete business process solution that improves corporate agility, user experience, and process efficiency. Customers may manage and control their finance and accounting processes on a standardised platform with BPaaS. This has aided the corporation in expanding its product portfolio in the market.
- In 2020, TIBCO Software Inc. announced a deal to buy Information Builders, Inc., a data and analytics software firm, in October. With this acquisition, the firm will augment TIBCO's Connected Intelligence platform with the company's analytics and data management capabilities to better meet the demands of its customers. This will help the company expand their footprint.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the business process as a service (BPaaS) market during the forecast period 2021-2028
The market is dominated by North America. The United States dominates the North American business process as a service (BPaaS) market due to the presence of major BPaaS service providers based on platform segment and the region's high adoption rate of cloud computing.
Asia-Pacific is estimated to be the fastest growing region in the business process as a service (BPaaS) market in the forecast period 2021-2028
Asia-Pacific, on the other hand, is predicted to grow at a rapid pace during the forecast period. China's platform-based enterprise sector is expanding, as is broadband penetration in the Asia-Pacific business process as a service (BPaaS) market, which is contributing to the country's growth.
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