Business Process as a Service (BPaaS) market By Solution (Platform, Services), Deployment Model (Finance and Accounting, Human Resource, Analytics, Procurement and Supply Chain Management), Organization Size, Application (Supportive, Operational and Connected Market Area), End-User (Banking, Financial Services, and Insurance (BFSI), Government, Manufacturing, Healthcare, Retail and E-Commerce, Media and Entertainment) and Region, Global Forecast 2021 to 2028

Business Process as a Service (BPaaS) Market Overview

Business process as a service (BPaaS) is termed as the provision of BPO services that are obtained from the cloud and built for multi tenancy. These solutions are often automated that require human process actors with no overtly committed labour pool for each client. BPaaS is catering to several business processes comprising vertical and horizontal business services. Nowadays, organizations are looking for a service-oriented method to accomplish their BPO services need which is amongst the reasons cloud services brokerage have observed traction in its adoption worldwide. Businesses are adopting BPaaS solutions to achieve a competitive edge and distinguish themselves from the market competitors by aiming at their core business.

The global Business Process as a Service (BPaaS) market worth USD 119,238.87 million by 2028, growing at a CAGR of 12.7%.

Rising acceptance of technologies such as business analytics (BI), cloud computing, process automation software, and social media platforms are backing the growth of the industry. BPaaS solutions facilitate in reducing cost and enhancing operational effectiveness by reforming the system background, thus, offering a technological environment on an integrated centralized platform.

Business Process as a Service (BPaaS) Market Key Market Drivers and Restraints:

Lesser Total Cost of Ownership (TCO), reduced operational costs, along with a quicker time to market (TTM) to drive the BPaaS Market

BPaaS enables better customer experience. It facilitates end-to-end delivery for several business processes such as human resource management, accounting, customer services, marketing, and sales. These are flexible business prototypes that help in developing capital expenditure (CAPEX) while keeping the operational expenses (OPEX) probable and proportionate to the business volumes. The main roadblock in the industry growth for BPaaS is data security. Hindered productivity and data violation are a few of the concerns plaguing the market.

Organizations globally are focused on building a mobile workforce, wherein employees can access information from distant places via internet services. As a result, the requirement of virtual sets of IT applications including servers, networks, storage, and others is anticipated to fuel the BPaaS industry growth.

Cloud computing is likely to witness increased adoption among SMEs, due to the advantages such as reliability, enhanced uptime, enriched IT service, increased operational speed, and flexibility of data access, which in turn is expected to create potential space for the cloud computing, comprehensively.

Business Process as a Service (BPaaS) Market Key Application:

BFSI is the largest application for BPaas (Business Process as a Services)

BPaaS has been implemented across various applications that include automotive, aerospace BFSI, telecom & IT, manufacturing, e-commerce, healthcare, and government organizations.

The BFSI vertical is anticipated to have the largest market share over the forecast period, due to the rising adoption of cloud solutions in this vertical, as organizations are focussing to enhance in achieving competencies and rebalancing the expenditures on systems, not in terms of Capital Expenditure but in Operating Expenditure. Moreover, the increasing commercial and mandatory necessities are making BFSI organizations and their Chief Information Officers re-evaluate their restricted implementation of BPaaS solutions.

Business Process as a Service (BPaaS) Market Regional Market Scenario:

Asia-Pacific will lead the growth in this market

North America possesses the largest industry prospect for the BPaaS service providers, in nations such as the United States and Canada. The increasing desire to decrease capital expenditure and enhance operational efficiency is driving the businesses to adopt BPaaS solutions.

In the Asia-Pacific region, the progress of industry is driven by the growing enterprise sector and broadband penetration within countries such as India, Japan, and China. In the Europe region, there is an increasing need among the organizations to implement a holistic solution that would address the overall cost of service delivery other than the just operational cost. Business enterprises in the Middle East & Africa and Central & South America Africa regions are implementing BPaaS solutions so as to overcome outdated technological anomalies that reduce the efficiency of the business process.

Business Process as a Service (BPaaS) Market Key Players

• Accenture
• Cognizant Technology Solutions
• Cap Gemini S.A.
• Computer Science Corporation (CSC)
• Fujitsu Limited
• Wipro
• Oracle
• SAP
• WNS
• TCS
• EXL
• Genpact Ltd.
• Others

Business Process as a Service (BPaaS) market Scope

Market Segments: BPaaS Market

• By Solution
  • Human Resource Management
  • Accounting and Finance
  • Sales and Marketing
  • Customer Service and Support
  • Procurement & Supply Chain Management
  • Operations
  • Others
• By Organization Size
  • SMBs
  • Large Enterprise
• By Applications
  • Banking, Financial Services, and Insurance
  • Telecom and IT/ITeS
  • Manufacturing
  • Ecommerce and Retail
  • Healthcare
  • Government
  • Others
• By Region
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • UK
  • Central & South America
    • Brazil
    • Chile
    • Mexico
  • Asia Pacific
    • China
    • India
    • South Korea
    • Japan
  • The Middle East and Africa

Business Process as a Service (BPaaS) Market Key Sources

• Industry Associations
• Patent Websites
• Company Annual Reports
• Company Websites
• Key industry leaders
• Ministry of Electronics & IT (Govt. of India) articles
• IEEE journals
• Technology consultants
• System Integrators
• BFSI experts
• Others

Business Process as a Service (BPaaS) Market Key Questions Answered

• What are the key growth regions and countries?
• What are the important types and technologies being used?
• What are the market players doing, in terms of research and development?
• Which are the new applications for this market?
• What are the integrations happening?
• What are the recent news, developments, mergers, or large value deals?

Business Process as a Service (BPaaS) Market Key Stakeholders

• Products & solution providers
• System Integrators
• Regulatory Authorities
• Research and Innovation Organizations
• Technocrats
• Suppliers and Distributors
• Other Channel Partners