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Business Process as a Service (bpaas) Market 2020: Revenue Analysis and Industry Forecast by 2023
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North America BPaaS market dominated the global market in 2016, owing to high demand for low-cost cloud infrastructure development and faster network accessibility. The developing countries, including China, Australia, and Brazil, have boosted the market growth. In addition, industry participants have focused on strengthening their portfolio of BPaaS industry solutions to ensure competence and effectiveness of cloud deployment for BPO services in other emerging markets such as Latin America, the Middle East, and Africa.
The surge in ICT expenditure, increase in cloud adoption across several industry verticals including BFSI, retail, healthcare, manufacturing, and government & education are anticipated to augment the market penetration. The prominent markets, such as Asia-Pacific and Europe, with developed cloud infrastructure, high adoption of Internet of Things (IoT) technology, and surge in demand for low-cost IT infrastructure deployment are anticipated to fuel the market growth in the near future.
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North America was the highest revenue contributor to the global market in 2016, accounting for around 45.7% share of the global BPaaS market. In addition, Asia-Pacific region is projected to grow at the highest CAGR of 23.9% during the forecast period, owing to growing penetration of mobility and cloud adoption by small- and mid-sized companies.
The report features a competitive scenario of the BPaaS market and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are Accenture, IBM Corporation, Capgemini, Genpact, Oracle Corporation, and Fujitsu Limited. All these players are involved in competitive strategies, such as geographical expansion, mergers & acquisitions, product portfolio expansion, and partnership to augment the growth of the BPaaS market.
DRIVING FACTORS FOR THE MARKET
o Need for low cost IT infrastructure and data accessibility
o Increase in the need for business process analytics
o Increase in cloud adoption across several industry verticals
MARKET RESTRAINTS AND OPPORTUNITIES:
o Lack of IT skills and knowledge in underdeveloped nations
o Rising security concerns over cloud deployment
o Increasing inclination towards cloud technology
o Increase in awareness of cloud computing benefits
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KEY QUESTIONS ANSWERED IN BUSINESS PROCESS AS A SERVICE (BPAAS) RESEARCH STUDY:
o What is the market growth rate of Business Process as a Service (bpaas) Market from 2017-2023?
o What will be the global market size of the market from 2017 to 2023?
o Who are the leading global manufacturing companies in the Business Process as a Service (bpaas) Market?
o What are the current trends and predicted trends?
o What are the challenges faced in the Business Process as a Service (bpaas) Market?
o Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
o Which will be the anticipated growth rates for your own Business Process as a Service (bpaas) economy altogether and also for every segment inside?
o Which will be the Business Process as a Service (bpaas) application and types and forecast accompanied closely by producers?
o What are the conclusions of the Business Process as a Service (bpaas) Market report?
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