Increasing demand for infrastructure-as-a-service (IaaS) services especially, in the BFSI & E-commerce enterprises, coupled with high investment in R&D of business process-as-a-service (BPaaS), is fueling the market growth.
Business Process-as-a-Service (BPaaS) Market Size – USD 46.38 Billion in 2018, Market Growth – CAGR of 12.6%, Market trends – Increase in demand for financial operations, IT infrastructural development, and support services in the BFSI, Telecommunication, and E-commerce industries.
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.
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.
Key participants include Microsoft Corporation, Tata Consultancy Service, HCL Technologies, Genpact, Accenture plc, Wipro, IBM Corporation, Oracle, Concentrix, and Infosys BPM.
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Further key findings from the report suggest
- Large enterprises would continue dominating the market during the forecast period by getting engaged in several projects which would require services on the financial and technical process. Employing in the backend operation would include extra workforce and unnecessary R&D cost and times. The growth rate for the large enterprise is forecasted to be 12.0% throughout the period 2019 – 2026.
- Finance management services sub-segment had a market share of 24.4% and would grow at a CAGR of 13.2% in the forecast period. The BPaaS finance services are purchased by the BFSI solutions and other vendors to deal with operations such as payment security, investment banking, accountancy support, and others.
- Infrastructure-as-a-Service (IaaS) is expected to reach a market share of 34.4% by 2026, having grown at a CAGR of 13.9% during the forecast period. The internet-based service delivery of underlying network infrastructure such as physical computing resources, data partitioning, scaling, security services, and others are propelling market demand.
- North America is leading the global market, with 37.6% of market possession in 2018 and would continue dominating the global market with a CAGR of 12.7% during the forecast period. The United States holds the highest market share amongst all the countries worldwide.
- Europe would reach a market share of 25.7% by 2026, having grown at a CAGR of 10.2% in the forecast period. The United Kingdom and France have some of the valuable market players in this region.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/business-process-as-a-service-bpaas-market
For the purpose of this report, Reports and Data have segmented the global business process-as-a-service (BPaaS) market on the basis of the business application, component, organization size, end-use industries, and region:
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
- SMEs
End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)
- BFSI
- IT & Telecommunication
- Retail & E-commerce
- Government & Public Sectors
- Transportation & Logistics
- Healthcare Sectors
- Manufacturing Industries
- Others
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Regional Outlook (Revenue: USD Billion; 2016-2026)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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