Previously, automated workflows were reserved only for rich organizations that were eager to invest highly in complex ERP and CRM systems but the advent of cloud technology has changed this concept on its head. As the technology changed, people started leveraging its energy to automate their complex workflow processes to achieve process integration. Therefore, BPaaS is used for streamlining the many workflows by scheduling them in an automated manner, creating an opportunity for market growth.
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Data Bridge Market Research analyses that the business process as a service (BPaaS) market is expected to reach USD 153,022.55 million by 2030 from USD 57,155.05 million in 2022, growing with the healthy CAGR of 13.1% in the forecast period of 2023 to 2030. Increasing integration of BPaaS with RPA will completely automate the volumetric tasks and increase the service offerings. This factor is expected to provide potential opportunities for the business process as a service (BPaaS) market growth in the forecast period.
Growing demand for digital skills in underdeveloped economies is expected to drive the market's growth rate
Demand for digitals skills is growing exponentially because digitalization is increasing rapidly. This is further boosted by the advent of the coronavirus pandemic where an enormous skill gap has been generated. Recruiters are demanding for online courses and applied skills that cannot fill that gap. The demand for developers is at an all-time high and industries are paying handsomely to them. However, this demand is more severe in backward countries such as Africa. Some of the most highly demanding skills such as JIRA, Cyber-security, Cloud computing, Spark, Azure and Big Data are commanding six figure salaries. As a result of this, some of the most sought after positions are Cloud Architect and Enterprise Infrastructure Manager, Chief Information Officer among others. There is a substantial demand supply gap and the demand for the technical skills is much higher. Therefore, increasing digital literacy leads to digital transformation of BPO services to BPaaS in underdeveloped economies, which is acting as a major factor and create an opportunity for market growth.
Report Scope and Market Segmentation
Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2015 - 2020)
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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, Israel, Egypt, South Africa, 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.
In 2022, the 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.
In 2022, the 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.
Major Players
Data Bridge Market Research recognizes the following companies as the major business process as a service (BPaaS) (BPaaS) market players in business process as a service (BPaaS) market 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.).
Market Development
Regional Analysis
Geographically, the countries covered in the business process as a service (BPaaS) 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, Israel, Egypt, South Africa, 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 business process as a service (BPaaS) market during the forecast period 2023 to 2030
North America dominates the business process as a service (BPaaS) (BPaaS) market because the healthcare sector and government in this region have widely adopted the business process as a service due to the rising adoption of cloud computing. Furthermore, The U.S. dominates the North America business process as a service (BPaaS) market due to the high adoption rate of cloud computing and presence of top business process as a service (BPaaS) service providers based on platform segment across the region.
Asia-Pacific is estimated to be the fastest-growing region in business process as a service (BPaaS) market the forecast period 2023 to 2030
Asia-Pacific is expected to grow during the forecast period of 2023 to 2030 due to the growing number of startups coming up in the consumer goods and retail sectors in countries such as India, a China and Japan. Furthermore, China is witnessing growth of broadband penetration and platform based enterprise sector in the Asia-Pacific business market which is highly contributing to the growth of the country.
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Global Business Process as a Service (BPaaS) Market – Industry Trends and Forecast to 2028
Asia-Pacific Business Process as a Service (BPaaS) Market – Industry Trends and Forecast to 2028
North America Business Process as a Service (BPaaS) Market – Industry Trends and Forecast to 2028
Europe Business Process as a Service (BPaaS) Market – Industry Trends and Forecast to 2028
Middle East and Africa Business Process as a Service (BPaaS) Market - Industry Trends and Forecast to 2028
Japan Business Process as a Service (BPaaS) Market – Industry Trends and Forecast to 2030
FUJITSU, NTT DATA, Inc. and Oracle are dominating the Japan Business Process as a Service (BPaaS) Market in 2021