North America Business Process as a Service (BPaaS) Market, By 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 (SAASBP Service), PAAS Based Business Process Service (PAASBP 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), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2028
Market Analysis and Insights: North America Business Process as a Service (BPaaS) Market
The business process as a service (BPaaS) market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 13.7% in the forecast period of 2021 to 2028 and expected to reach USD 41,420.61 million by 2028. Increasing requirement for time effectiveness and lower total cost of ownership is driving growth of the market.
- On top of the SaaS model, a new model called business process as a service can be stacked using all the layers below to provide enterprises with predefined, ready to scale, best-practice processes. A business process is a collection of activities and tasks connected together to accomplish an organisational purpose such as supplying an internal or external customer with a product, service, information or decision. The method is in a continuous control loop that measures whether the desired result has been achieved and how it can be achieved. The business process as a service (BPaaS) market is on growth phase rapidly due to growing use of internet of things and increasing adoption of analytics tools amongst retailers.
The growth of the business process as a service (BPaaS) market has been highly boosted by rising adoption of industry 4.0 in retail sector. Growing number of smartphones and increasing use of m-commerce is boosting the growth of the business process as a service (BPaaS) market. The business process as a service (BPaaS) tools requires high capital requirement for installation, maintenance, testing, licensing and other technical labor costs which acts as major restraint factor for the business process as a service (BPaaS) market.
This business process as a service (BPaaS) market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America Business Process as a Service (BPaaS) Market Scope and Market Size
Business process as a service (BPaaS) market is segmented into seven notable segments which are based on the solution, deployment model, business process, organization size, application, cloud delivery model and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of solution, the business process as a service (BPaaS) market is segmented into platform and services. In 2021, platform segment is dominating due to the growing concern of organization towards enhancing the 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. In 2021, public cloud segment has been accounted for the largest market share due to the growing 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. In 2021, human resources (HR & payroll) segment holds the largest market share due to the growing concern for improving employee productivity has increase 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). In 2021, large enterprises segment holds the largest market share owing to the growing amount of unstructured data which increases 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. In 2021, managerial segment dominates the market owing to growing digitalization in the organization among 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). In 2021, SAAS based business process service (SAASBP service) segment is holding the largest market share for the cloud delivery model owing to growing BYOD trend in the organization has result in increasing the 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. In 2021, banking, financial services, and insurance (BFSI) segment holds the largest market share due to growing adoption of big data and internet penetration has result in increasing the BPaaS.
Business Process as a Service (BPaaS) Market Country Level Analysis
Business process as a service (BPaaS) market is analysed and market size information is provided by country, solution, deployment model, business process, organization size, application, cloud delivery model and end user as referenced above.
The countries covered in North America business process as a service (BPaaS) market report are U.S., Canada and Mexico.
The U.S. is dominating the North America business process as a service (BPaaS) market and is expected to grow with highest GAGR during the forecast period owing to the presence of top BPaaS service providers and the high adoption rate of cloud computing across the country which is contributing to the growth of the market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Adoption Trend of BPaaS among Small and Medium Businesses
Business process as a service (BPaaS) market also provides you with detailed market analysis for every country growth in installed base of different kind of products for business process as a service (BPaaS), impact of technology using life line curves and changes regulatory scenarios and their impact on the business process as a service (BPaaS) market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Business Process as a Service (BPaaS) Market Share Analysis
Business process as a service (BPaaS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to business process as a service (BPaaS) market.
The major players covered in the report are IBM Corporation, Capgemini, Cognizant, Oracle, Wipro Limited, Accenture, Tata Consultancy Services Limited, HCL Technologies Limited, NTT DATA, Inc., DXC Technology Company, Open Text Corporation, FUJITSU, Genpact, ADP, Inc., Alight, UKG Inc., WNS (Holdings) Ltd., Conduent, Inc., TIBCO Software Inc., Entercoms, and Ceridian HCM, Inc. among others global or domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of business process as a service (BPaaS) market.
For instance,
- In July 2020, Oracle has announced new upgraded Oracle Fusion Cloud Enterprise Resource Planning (ERP), Supply Chain & Manufacturing (Oracle Cloud SCM) and Enterprise Performance Management (EPM) which will help organisations to create business resiliency with digital acceleration. This upgradation tools will help company to increase their business.
- In July 2019, IBM Corporation announced about their complete acquisition of Red Hat which will significantly change the IBM’s cloud landscape and will accelerate company’s high value business model by offering next generation hybrid, multicloud platform to their customers. This acquisition has strengthened and expanded IBM Corporation’s product line.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for business process as a service (BPaaS).
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