Global Business Process as a Service (BPaaS) Market
Global Business Process as a Service (BPaaS) Market Report Description:
Global business process as a service (BPaaS) market report gives comprehensive outlook on business process as a service (BPaaS) across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global business process as a service (BPaaS) market gives historical, current, and future market sizes (US$ Mn) on the basis of process, size of organization, end user and region. This report studies global business process as a service (BPaaS) market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global business process as a service (BPaaS) market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global business process as a service (BPaaS) market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global business process as a service (BPaaS) market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global business process as a service (BPaaS) products.
Global Business Process as a Service (BPaaS) Market:
The global business process as a service (BPaaS) market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Some of the key factors boosting the market growth include growing demand for BPaaS solutions in various industry verticals such as BFSI, retail, healthcare to improve their business cycle and automation processes, rising organizations preference towards adopting cloud technology and new technological advancements. However, lack of IT skills and increasing number of security concerns are inhibiting the market growth.
Rising Demand for Cloud Technology
BPaaS is a form of business process outsourcing that employs a cloud computing service model. BPaaS reduces labor count through increased automation, thereby cutting costs in the process. Cloud offers a plethora of virtual services such as data storage, networking, business intelligence and analytics to help us carry out critical business operations conveniently over the internet. Business Process as a Service (BPaaS) is an emerging technology trend in the Cloud ecosystem. It is typically a modernized form of business process outsourcing that is carried out over the Cloud. The most popular BPaaS offerings include payroll solutions, advertising, marketing, HR functions and administration services.
High Cost of BPaas Solution is Hindering the Market Growth
Most of the companies are aware that a proper BPaaS solution can sometime prove to be too expensive especially for an SMB. This is because most BPaaS solutions are actually a gateway to more modern technologies which still cost quite a bit of money to setup and implement. Hence initial costs might be high thus hampering the market growth.
Asia Pacific Accounts for Larger Market Revenue Share in Global Business Process as a Service (BPaaS) Market
Asia Pacific accounted for larger revenue share in global business process as a service (BPaaS) market with considerable CAGR. Growth of this particular region can be attributed to growing number of startup companies in this region, increased adoption of BPaas solutions in countries such as India and China owing to their benefits such as scalability and agility.
Key player’s profiles in the global business process as a service (BPaaS) market include:
- SAP SE
- IBM Corporation
- OpenText Corporation
- Pegasystems Inc.
- Software AG
- Tibco Software Inc.
- Fujitsu Ltd
- Oracle Corporation
- Cognizant Technology Solutions Corporation
- Capgemini SE
Global business process as a service (BPaaS) market is surging owing to frequent acquisitions and launchings by the market players. For Instance in 2017, Cognizant acquired TMG Health, a leading national provider of BPO solutions for Medicare Advantage, Part D, and Medicaid managed plans. TMG Health’s capabilities would expand the breadth of Cognizant’s healthcare offerings and enable a wider range of regional and national healthcare organizations to harness the benefits of Cognizant’s BPaaS offering.
Key Findings of the Report:
- Global business process as a service (BPaaS) market expanding at significant CAGR over 2019 to 2025 growing demand for Bpaas among small enterprises
- Based on end-user, healthcare segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global business process as a service (BPaaS) market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Accounting and Finance
- Human Resource Management
- Sales and Marketing
- Supply Chain Management
- Other Processes
By Size of Organization
- Small and Medium
By Size of Organization
- Government and Defense
- IT and Telecommunication
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA