Global Business Process as a Service (BPaaS) Market by Application (BFSI, Telecom, Manufacturing, Healthcare, Government) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2016, the global Business Process as a Service market was valued at USD 32.66 million. Due to lower operational costs, lower Total Cost of Ownship (TCO), faster time to market (TTM), the market is expected to grow significantly in the next years.

BPaaS encompasses a wide range of vertically integrated components such as hardware infrastructure, middleware, database, business application software, optimized process, and people. BPaaS has been proven to be a success for many business processes, and is being adopted more often by small and medium businesses (SMEs).

The key players have allocated significant resources to identify potential areas of opportunity and keep up with growing market competition through software upgrades. Industry has become highly competitive due to the introduction of new government regulations and increased usage of cloud computing.

BPaaS allows for improved customer experience. It offers end-to-end service for many business processes, including accounting, customer services, human resource management, and sales. These flexible business models optimize capital expenditure (CAPEX), while making operational expenses predictable and proportionate to business volume (OPEX).

Data security is a major obstacle to the growth of the BPaaS market. Data security is a major problem in the industry.

Insights into Business Processes

The forecast period will see a 9.6% CAGR in customer service and support. The increasing number of companies looking to improve their customer service operations can explain the segment's growth. The goal is to reduce operational costs and dynamically scale up operations/processes that are related to shorter product life cycles. Support platforms and customer service help manage the customer service lifecycle. This includes customer care, asset/warranty, contract management and field force management.

In 2016, accounting and finance accounted for the largest percentage of more than 27.0%. These business processes optimize financial processes to increase revenue, improve margins and increase cash flow.

Organization Insights

In 2016, the BPaaS market was dominated by large enterprises, accounting for USD 22.76 million that year. This market is expected to grow at 8.6% CAGR over the forecast period. Large enterprises tend to focus on managing their associated operations and practices. These are vulnerable to malware, spams and viruses. BPaaS is a great solution to these threats. Large companies are involved in the management of large enterprises, such as HRM and maintaining company accounts. They also maintain financial records, measure sales, record employee data, and provide other procurement-related services.

The fastest growth rate for small and medium enterprises (SMEs), is expected over the forecast period. These businesses are focusing on processing their services and gaining competitive advantage. They also take advantage of lower operating costs and a falling total cost ownership. This will be a benefit to the segment over the forecast period.

Application Insights

In 2016, the banking, financial services and insurance (BFSI), segment held the largest share at USD 8.26 billion. Cloud computing is gaining popularity, which has led to a greater focus on efficiency and rebalancing costs. This will drive the BFSI segment in 2025.

BPaaS assists online retailers and SMEs in improving their marketing, sales and services. This will likely increase its use in the eCommerce and retail sectors. This segment will see the fastest growth over the forecast period thanks to favorable government regulations and growing startups in the sector.

Regional Insights

In 2016, the Asia Pacific market was valued in USD 4.90 billion. It is predicted to experience the highest CAGR over the forecast period. The increasing number of startups in the retail and consumer goods sector in countries like China, India, Japan has contributed to the region's growth.

North America has the largest market share. Due to cloud computing's rapid adoption, the U.S. government has adopted the service extensively. Strategic agreements and partnerships also help to increase market awareness. In 2017, Cognizant, for example, announced it had reached a definitive agreement with TMG Health (Health Care Service Corporation) to buy its subsidiary TMG Health.

Market Share Insights & Key Companies

Global market is fiercely competitive, especially among established players and new entrants. TCS, Capgemini, Wipro and Wipro are key industry players. Companies such as Cognizant and Accenture have benefited from the increased deployment of cloud-based solutions, and large companies are adopting BPaaS platforms, allowing them a significant share of the market.

Some of the most effective growth strategies are strategic partnerships, new product development and acquisitions. Wipro purchased HPH Holdings Corp. in February 2016. (Healthplan Services). HealthPlan Services provides technology platforms as well as a fully integrated BPaaS platform for health insurance companies. Genpact launched an innovative platform in November 2016 that drives large-scale transformation and changes business models for online commercial lending. This platform will allow companies to create flexible systems that improve their operations and position themselves in the market.

Market Report Scope for Business Process as a Service (BPaaS).

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional and country level and analyzes the most recent industry trends in each sub-segment from 2014 to 2025. Grand View Research has divided the global Business Process as a Service market report (BPaaS), on the basis business process, organization and application.

• Business Process Outlook (Revenue USD Million, 2014-2025)

  • Human Resource Management

  • Accounting and Finance

  • Marketing and Sales

  • Support and Customer Service

  • Supply Chain and Procurement

  • Operation

  • Other

• Organisation Outlook (Revenue, USD million, 2014-2025)

  • Medium and small enterprises

  • Large Enterprises

• App Outlook (Revenue USD Million, 2014-2025)

  • BFSI

  • Telecom & IT

  • Manufacturing

  • Ecommerce and retail

  • Healthcare

  • Government

  • Other

• Regional Outlook (Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • Rest of APAC

  • Latin America

    • Mexico

    • Brazil

    • Rest of South America

  • Middle East & Africa

These are the most frequently asked questions about this report

b. Global Business Process as a Service (BPaaS), market size was USD 45.8 Billion in 2019, and is forecast to grow to USD 50.2 Billion in 2020.

b. Global business process as a market for services is expected to grow at 8.7% annually from 2017 to 2025, to reach USD 72.2 million by 2025.

b. b. This is due to the fact that business processes optimize financial processes to increase revenue growth, improve margins and increase cash flow.

b. Fujitsu and Accenture are key players in the service market business process.

b. Market growth is driven by lower operational costs, lower Total Cost Of Ownership (TCO), faster time to market (TTM).

Up Market Research published a new report titled “Business Process as a Service (BPaaS) Market research report which is segmented by Application (BFSI, Telecom, Manufacturing, Healthcare, Government), By Players/Companies Cognizant, Fujitsu, Capgemini, Accenture, TCS, Wipro”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Business Process as a Service (BPaaS) Market Report Segments:

The market is segmented by Application (BFSI, Telecom, Manufacturing, Healthcare, Government).

Business Process as a Service (BPaaS) Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Business Process as a Service (BPaaS) Market

Overview of the regional outlook of the Business Process as a Service (BPaaS) Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Business Process as a Service (BPaaS) Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Business Process as a Service (BPaaS) Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. BFSI

                2. Telecom

                3. Manufacturing

                4. Healthcare

                5. Government

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Business Process as a Service (BPaaS) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Business Process as a Service (BPaaS) Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.