The Business Process as a Service (BPaaS) is offered by companies to assist businesses to enable BPO over mobile platforms while reducing labor count through automation. The BPaaS model is accessible through internet-based technologies. Advancements in technologies including artificial intelligence (AI) and machine learning has led to robust adoption of the service by the enterprises in developed as well as developing nations. BFSI companies are increasingly adopting the services for the optimization of their business processes.
MARKET DYNAMICS
The BPaaS market is anticipated to witness optimal growth in the forecast period owing to driving factors such as a growing need for cost-effective IT infrastructure and data accessibility coupled with increasing adoption of cloud-based services among industries. Furthermore, the surging demand for business process analytics is expected to propel the market growth. However, cybersecurity threats may hamper the growth of the BPaaS market. Nonetheless, the growing adoption of cloud computing in the developing countries is likely to offer growth opportunities to the players operating in the BPaaS market.
MARKET SCOPE
The "Global Business Process as a Service Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of BPaaS market with detailed market segmentation by offerings, application, deployment, end user industry, and geography. The global BPaaS market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading BPaaS market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global BPaaS market is segmented on the basis of offerings, application, deployment, and end user industry. Based on offerings, the market is segmented as professional service and managed service. On the basis of the application the market is segmented as finance and accounting, analytics and reporting, digital asset management, supply chain management, and others. By deployment, the market is segmented as on premise and cloud. The market on the basis of the end user industry is classified as BFSI, IT and telecom, manufacturing, healthcare and pharmaceutical, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global BPaaS market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The BPaaS market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting BPaaS market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the BPaaS market in these regions.
MARKET PLAYERS
The reports cover key developments in the BPaaS market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from BPaaS market are anticipated to lucrative growth opportunities in the future with the rising demand for BPaaS in the global market. Below mentioned is the list of few companies engaged in the BPaaS market.
The report also includes the profiles of key BPaaS companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- Accenture PLC
- Capgemini SE
- Cognizant Technology Solutions
- Fujitsu Limited
- Genpact
- IBM Corporation
- Oracle Corporation
- Tata Consultancy Services Limited
- Tech Mahindra Limited
- Wipro Limited