Global BPaaS Market By Organization Size (Small and Medium Enterprises and Large Enterprises), By Business Process (Accounting and Finance, Human Resource Management, Sales and Marketing, Customer Service and Support, Operations, Procurement and Supply Chain, and Others), By Application (BFSI, Telecom & IT, Healthcare, Manufacturing, Government, Retail & Ecommerce, and Others) and By Region (North America, Europe, APAC, and RoW) – Global Forecast up to 2025
This market research report includes a detailed segmentation of the global BPaaS market by Organization Size (Small and Medium Enterprises and Large Enterprises), by Business Process (Accounting and Finance, Human Resource Management, Sales and Marketing, Customer Service and Support, Operations, Procurement and Supply Chain, and Others), by Application (BFSI, Telecom & IT, Healthcare, Manufacturing, Government, Retail & Ecommerce, and Others) and by Geography (North America, Europe, APAC, and RoW). The market research report identifies Accenture, IBM, Capgemini, Cognizant Technology Solutions, EXL, Fujitsu, Genpact, HCL, Tata Consultancy Services, Wipro, Tech Mahindra, Oracle, and SAP SE are the major vendors operating in the global BPaaS market.
verview of the Global BPaaS Market
According to Infoholic Research, the global BPaaS market will grow at a rate of over 11% during the forecast period 2019–2025. The market for BPaaS is predominantly driven by the growing need to comply with regulations and the focus on cost-effective processes across the end-users. Implementation of BPaaS provides increased mobility resulting in enhancing business growth and expansion. However, the lack of well-developed IT infrastructure in emerging countries such as Philippines and Bangladesh is expected to hamper the market growth.
The BPaaS market will witness substantial growth owing to the growing demand for efficient, agile, and cost-effective services across the enterprises. Additionally, the BPaaS solutions provide security of data and ease in the data recovery process, which is expected to drive the growth of the global BPaaS market during the forecast period 2019–2025. Increasing adoption of BPaaS in the banking and finance sector, owing to growing security concerns is also expected to boost the market growth in the coming years. However, a lack of understanding of cloud and integration of BPaaS solutions within the existing infrastructure is creating a challenging environment for global BPaaS market due to significant third-party dependence. Hence the adoption of suitable business process service plan and its deployment plays a vital role in the work scenario.
According to the BPaaS market analysis, North America accounted for the largest share of the global BPaaS market in 2018. With the presence of the highest number of technology innovators and increasing adoption of BPaaS in this region it is expected to dominate the market during the forecast period. The Asia Pacific region is expected to witness the fastest growth rate due to the growing implementation of BPaaS to reduce capital expenditure and improve operational efficiency.
BPaaS Market: Competitive Analysis and Key Vendors
The report covers and analyzes the global BPaaS market. Major vendors across different verticals are increasingly developing products and investments in this market and as a result, the BPaaS market is expected to grow at a decent pace in the coming years. The key players in the BPaaS market are adopting various organic as well as inorganic growth strategies such as mergers & acquisitions, collaborations & partnerships, joint ventures, and few other strategies to gain the competitive advantage in the market.
Few of the Key Vendors in the BPaaS Market:
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