The Global Business Process-as-a-Service (BPaaS) Market is forecast to reach USD 120.70 Billion by 2026, according to a new report by Reports and Data. Business Process-as-a-Service (BPaaS) refers to the web-delivered or the cloud hosting models, delivered by the business process outsourcing (BPO) companies and serve multiple tenants across most of the industry verticals. The delivered functions might derive from any of cloud-based Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Services (IaaS) models in general. The global business process-as-a-service (BPaaS) market is growing predominantly as all the industries are slowly moving towards adopting the cloud-based on-demand BPaaS models. BPaaS, has, in turn, made the traditional process of outsourcing models more flexible, clean, accessible, and affordable by lowering down the up-front additional investment costs. Operation & finance management processes sub-segments in the business application has the highest usage rate and also is calculated to achieve the highest growth rate. The mBPM solutions would like to facilitate and also drive the market broadly.
APAC is forecasted to achieve the fastest growth of about 17.8% in the period 2019 – 2026, due to an increase in the adoption of the cloud-based back-end business and financial process serviced from the BPOs in both the SMEs and large enterprises across all the industry verticals in the countries like China, Singapore, and India. North America holds the highest market share of about 37.8% in 2018 because of the prodigious rate of adoption and improvisation of the influential business process verticals, especially in the conglomerates.
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global Business Process-as-a-Service (BPaaS) market is experiencing significant growth, primarily driven by the increasing adoption of cloud-based on-demand BPaaS models across various industries. The transition to cloud-based services has made traditional process outsourcing models more flexible, accessible, and affordable, as it reduces upfront investment costs. Cloud-based service delivery offers remote accessibility and is generally more cost-effective and efficient compared to software-based or onsite service delivery.
Among the different segments of BPaaS, the Software-as-a-Service (SaaS) segment has dominated the global market due to its compatibility with various delivery models. However, as companies focus on building, improving, and restructuring their IT infrastructures, the Infrastructure-as-a-Service (IaaS) segment is expected to grow the fastest in the forecast period.
Within the business applications, the operation and finance management processes sub-segment demonstrates the highest usage rate and is projected to achieve the highest growth rate. Additionally, mobile Business Process Management (mBPM) solutions are expected to play a significant role in facilitating and driving the market’s growth.
In terms of regional market share, North America held the highest market share (37.6%) in 2018, followed by Europe (30.4%). However, the Asia-Pacific (APAC) region is anticipated to achieve the fastest growth throughout the forecast period, with a Compound Annual Growth Rate (CAGR) of 17.8%. This growth can be attributed to the rapid expansion of the IT, BFSI (Banking, Financial Services, and Insurance), and e-commerce industries in APAC, as well as the increasing adoption of cloud-based business process services. Countries like China, Singapore, and India are particularly inclined towards adopting these services to enhance their internal business processes. Small and Medium Enterprises (SMEs) in the BFSI and e-commerce sectors in these regions exhibit the fastest adoption rate.
Top Companies Operating in the Global Business Process-as-a-Service (BPaaS) Market:
Microsoft Corporation, Tata Consultancy Service, HCL Technologies, Genpact, Accenture plc, Wipro, IBM Corporation, Oracle, Concentrix, and Infosys BPM.
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The global market is further segmented into type and application:
Business Application Outlook (Revenue: USD Billion; 2016-2026)
- Human Resourcing
- Sales & Marketing
- Finance Management
- IT & Logistics
- Operation Management
- Support & Service
Component Outlook (Revenue: USD Billion; 2016-2026)
- Software-as-a-Service (SaaS)
- Platform-as-a-Service (PaaS)
- Infrastructure-as-a-Service (IaaS)
Organization Size Outlook (Revenue: USD Billion; 2016-2026)
- Large Enterprises
End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)
- IT & Telecommunication
- Retail & E-commerce
- Government & Public Sectors
- Transportation & Logistics
- Healthcare Sectors
- Manufacturing Industries
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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