Press release
Business Process as a Service Market Report
Business Process as a Service Market Report 2030The global business process-as-a-service (bpaas) market was valued at $46.1 billion in 2020, and is projected to reach $128.9 billion by 2030, growing at a CAGR of 11% from 2021 to 2030.
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Business process as a service, or BPaaS, is a type of business process outsourcing (BPO) delivered based on a cloud services model. BPaaS is connected to other services, including SaaS, PaaS and IaaS, and is fully configurable. In addition, BPaaS provides companies with the people, processes, and technology they need to operate as a pay-per-use service by making use of the availability and efficiency of a cloud-based system. Moreover, this approach to operations greatly reduces total cost of ownership by providing an on-demand solution based on services needed as opposed to purchasing a package deal tied into a single application.
Need for low-cost IT infrastructure, data accessibility, and increase in business process analytics among the BFSI sector drive the global business process as a service (BPaaS) market. Moreover, increase in cloud adoption across several industry verticals is boosting the market size. However, lack of IT skills and knowledge in underdeveloped nations restrict the growth of the market. On the contrary, rise in inclination toward cloud technology is expected to offer remunerative opportunities for expansion of the market during the forecast period.
The business process as a service market is segmented on the basis of deployment mode, enterprise size, application, industry vertical, and region. On the basis of deployment mode, the market is categorized into private, public, and hybrid. On the basis of enterprise size, the market is bifurcated into large enterprise and SMEs. The applications areas covered in the study include finance and accounting service, HR services, sales and marketing, customer service and support, procurement and supply chain, operations, and others. By industry vertical, it is classified into BFSI, IT and telecom, manufacturing, retail and ecommerce, healthcare, government, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the business process as a service (BPaaS) market are Capgemini, Cognizant, FUJITSU, Genpact, IBM Corporation, Oracle Corporation, Tech Mahindra Limited, SAP SE, and Wipro Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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Key Segmentation
By Type
● Public Cloud
● Private Cloud
● Hybrid
By Enterprise Size
● Large Enterprises
● SMEs
By Application
● Finance and Accounting Service
● HR Services
● Sales and Marketing
● Customer Service and Support
● Procurement and Supply Chain
● Operations
● Others
By Industry Vertical
● BFSI
● IT and Telecom
● Manufacturing
● Retail and E Commerce
● Healthcare
● Government
● Others
By Region
● North America
○ U.S.
○ Canada
● Europe
○ U.K.
○ Germany
○ France
○ Netherlands
○ Italy
○ Spain
○ Rest of Europe
● Asia-Pacific
○ China
○ India
○ Japan
○ Australia
○ South Korea
○ Rest of Asia-Pacific
● LAMEA
○ Latin America
○ Middle East
○ Africa
By Key Players
• Capgemini
• Cognizant
• FUJITSU
• Genpact
• IBM Corporation
• Oracle Corporation
• SAP SE
• Tech Mahindra Limited
• Wipro Limited
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