Global Business Process as a Service (BPaaS) Market – Industry Trends and Forecast to 2031

Business Process as a Service (BPaaS) Market Analysis and Size

The growing requirement of companies to comply with information security regulations to dodge massive fines and to implant trust among their customers is acting as a major factor that is driving the growth of the market. The rising data security concerns due to external hacks, as well as internal security lapses, are acting as a major factor that is restraining the growth of the market. The use of business process as a service (BPaaS) for streamlining multiple workflows by scheduling them in an automated manner is a major factor that will create an opportunity for the growth of the market.

Data Bridge Market Research analyzes that the global business process as a service (BPaaS) market was valued at USD 58.68 billion in 2023 and is expected to reach USD  152.17 billion by 2031, registering a CAGR of 12.7% during the forecast period of 2024-2031. ”Platform” dominates the solutions segment of the business process as a service (BPaaS) Market due to the demand for growing business process as a service in the financial sector. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

Market Definition

Business process as a service (BPaaS) is defined as the delivery of cloud-sourced and multitenancy-built business process outsourcing (BPO) services. Services are often automated, and there is no publicly dedicated labor pool per client when human process actors are needed. The pricing models are commercial words based on usage or on subscription. The BPaaS model as a cloud service is accessed through Internet-based technologies.   

Global Business Process as a Service (BPaaS) Market Dynamics

Drivers

• Rising Demand of Business Process as a Service (BPaaS) 

The increasing demand for business process as a service (BPaas) is driven by its ability to offer cost-efficiency, scalability, expertise, and flexibility in outsourcing non-core business processes. BPaas leverages technological advancements, supports globalization, ensures compliance, and enhances disaster recovery, enabling businesses to gain a competitive advantage and focus on core competencies.

• Rising Data Security Concerns Rising Due to External Hacks

the business process as a service (BPaaS) market is thriving, offering organizations a streamlined approach to managing their business processes. However, the increasing prevalence of external hacks and data security concerns has cast a shadow over this burgeoning industry. As businesses increasingly rely on cloud-based BPaaS solutions to optimize their operations, safeguarding sensitive data has become a paramount challenge. This growing threat landscape has compelled businesses to reassess their data security strategies, making the integration of robust cybersecurity measures an imperative in the BPaaS market. In this context, the need for secure and resilient BPaaS solutions is more critical than ever, as companies strive to protect their operations from the ever-evolving threats of the digital world.

Opportunity

• Rise in Cloud Adoption Across Several Industry Verticals

Cloud platform is gaining popularity as it not only provides flexibility, scalability, and multi-cloud space however also provides security assurance. Furthermore, the step toward cloud makes the integrity of data and services a major priority for organizations hence, it is critical to find the combination of on-premise and numerous as-a-service offerings to ensure data is constantly available and coordinated across multiple platforms. It can result in creating more market opportunities.

Restraint/Challenge

• Lack of IT Skills and Knowledge in Underdeveloped Nations

The lack of IT skills and knowledge in underdeveloped nations restricts the growth of the business process as a service market. Although the business process-as-a-service (BPaaS) market has numerous end-uses, numerous obstacles likely pose a challenge to market growth. The high initial cost of business process fusion technology is expected to be a major restraining factor for the growth of the business process-as-a-service (BPaaS) market over the forecast period.

This business process as a service (BPaaS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the business process as a service (BPaaS) market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.

Recent Development

• In May 2020, Wipro Limited announced launch of finance and accounting business-process-as-a-service in partnership with NetSuite. This F&A BPaaS is an end-to-end business process solution which helps to improve business agility, user experience and process efficiency. BPaaS empowers customers to manage and control their finance and accounting processes on a standardized platform. This has helped the company to enhance their product portfolio in the market

Global Business Process as a Service (BPaaS) Market Scope

The business process as a service (BPaaS) market is segmented on the basis of solution, deployment model, business process, organization size, application, cloud delivery model and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Solutions

• Platform
• Services

Deployment Model

• Public Cloud
• Private Cloud
• Hybrid Cloud

Business Processes

• Human Resources (HR & Payroll)
• Finance & Accounting
• Sales & Marketing
• Procurement & Supply Chain Management
• Customer Services & Support (Customer Experience)
• Operations
• Analytics
• Others

Organization Size

• Large Organization
• Small and Medium-Sized Enterprises (SMEs)

Application

• Managerial
• Operational
• Supportive
• Connected Market Area

Cloud Delivery Model

• SaaS Based Process Services (SaaSBP Services)
• PaaS Based Business Process Services (PaaS BP Services)
• IaaS Business Process Services (IaaS BP Services)

End User

• Banking, Financial Services and Insurance (BFSI)
• IT & Telecommunication
• Retail & E-Commerce
• Healthcare
• Government
• Manufacturing
• Media & Entertainment
• Others

Global Business Process as a Service (BPaaS) Market Regional Analysis/Insights

The business process as a service (BPaaS) market is analyzed and market size insights and trends are provided by country, solution, deployment model, business process, organization size, application, cloud delivery model and end user as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and rest of Middle East and Africa.

North America is expected to dominate the market due to the presence of top business process as a service (BPaaS) service providers based on platform segment and the high adoption rate of cloud computing across the region.

Europe is expected to show the fastest growth in the market due to the growing need of business process as a service (BPaaS) to deploy a holistic solutions to address the overall cost of service delivery for platform solution instead of just operational cost which is contributing to the growth of the countries in the region.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.     

Competitive Landscape and Global Business Process as a Service (BPaaS) Market Share Analysis

The business process as a service (BPaaS) market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the business process as a service (BPaaS) market.

Some of the major players operating in the business process as a service (BPaaS) market are:

• IBM Corporation (U.S.)
• Capgemini (France)
• Cognizant (U.S.)
• Oracle (U.S.)
• Wipro Limited (India)
• Accenture (Ireland)
• Tata Consultancy Services Limited (India)
• HCL Technologies Limited (India)
• NTT DATA, Inc. (U.S.)
• DXC Technology Company (U.S.)
• Open Text Corporation (Canada)
• FUJITSU (Japan)
• Genpact (U.S.)
• ADP, Inc. (U.S.)
• Alight (U.S.)
• UKG Inc. (U.S.)
• WNS (Holdings) Ltd. (India)
• Conduent, Inc. (U.S.)
• Expertel S.A "proceedit" (Luxembourg)
• TIBCO Software Inc. (U.S.)
• Entercoms (U.S.)
• Avaloq (Switzerland)
• Scheer PAS Deutschland GmbH (Germany)
• Ceridian HCM, Inc. (U.S.)

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