Dublin, June 09, 2022 (GLOBE NEWSWIRE) -- The "Business Process as a Service (BPaaS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Business Process as a Service (BPaaS) Market to Reach $131 Billion by 2027
The global market for Business Process as a Service (BPaaS) estimated at US$67.9 Billion in the year 2020, is projected to reach a revised size of US$131 Billion by 2027, growing at a CAGR of 9.8% over the analysis period 2020-2027.
Accounting & Finance, one of the segments analyzed in the report, is projected to record a 10.7% CAGR and reach US$38.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Human Resource Management segment is readjusted to a revised 9.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $18.4 Billion, While China is Forecast to Grow at 13.3% CAGR
The Business Process as a Service (BPaaS) market in the U.S. is estimated at US$18.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$27.9 Billion by the year 2027 trailing a CAGR of 13.1% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.6% and 8.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.7% CAGR.
Sales & Marketing Segment to Record 8.7% CAGR
In the global Sales & Marketing segment, USA, Canada, Japan, China and Europe will drive the 8.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8.6 Billion in the year 2020 will reach a projected size of US$14.8 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$18.8 Billion by the year 2027, while Latin America will expand at a 10.1% CAGR through the analysis period.
What's New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the publisher's digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- BPaaS Allows Organization to Restore Normal Business Functioning amid the Pandemic
- Competitive Market Presence - Strong/Active/Niche/Trivial for 59 Players Worldwide in 2022 (E)
- Cloud Computing: A Prelude
- Types of Cloud Computing Services
- An Introduction to Business Process as a Service (BPaaS)
- Why BPaaS?
- Advantages of BPaaS Model
- BPaaS Adoption in Various Settings
- BPaaS by Service Type
- Why Do Businesses Require Cloud-Based BPaaS?
- The Ways BPaaS Provides Simplicity and Efficiency
- Global Market Prospects & Outlook
- BFSI Sector Leads Global BPaaS Market
- Developed Regions Lead BPaaS Market, Developing Economies to Spearhead Future Growth
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 119 Featured)
- Accenture Plc
- Avaloq
- aZaaS Pte. Ltd.
- Capgemini SE
- Cognizant Technology Solutions Corp.
- Concentrix Corp.
- Conduent, Inc.
- DXC Technology Company
- ExlService Holdings, Inc.
- Fujitsu Ltd.
- Genpact Limited
- getsix Polska Sp. z o.o.
- HCL Technologies Ltd.
- IBM Corporation
- NTT Data Corp.
- Oracle Corporation
- SAP SE
- Tata Consultancy Services Limited
- Tech Mahindra Limited
- Wipro Limited
- WNS Ltd.
3. MARKET TRENDS & DRIVERS
- BPaaS: A Game Changer for the BPO Industry
- Transforming Characteristic of BPO Industry: Advantage BPaaS!
- Traditional Outsourcing Vs BPaaS
- Pandemic-Triggered Recession Induces Weakness into BPO Sector
- Cloud Computing Continues to Gain Prominence as a Mainstream IT Strategy
- Pandemic Accelerates Demand for Cloud-based Technologies and Offerings
- IT Spending Levels Impact Growth in the BPaaS Market
- Amidst Accelerated Digital Transformation, Businesses Turn to BPaaS to Benefit from the Digitization Trend
- Digital Transformation Accelerates Demand for Cloud Services, Driving Need for BPaaS: Global Digital Transformation Spending (In US$ Billion) for 2017-2023
- Enterprise Focus on Business Continuity & Remote Working Technologies Presents Market Opportunities
- BPaaS Emerges as an Outcome-Driven Model
- Rising Significance of Cloud-based Business Processes Model for Small Businesses
- Expanding Applications to Provide Growth Opportunities for Operation BPaaS Market
- Customer Identification: A Promising Area of Growth
- Analytics Emerges as an Important BPaaS Application
- BPaaS: The Future of HR BPO
- Popularity of BPaaS Options
- BPaaS Addresses Challenges of Multi-Process HRO Model
- F&A Sector: Shared Service Delivery Model Gains Prominence
- Finance & Accounting BPaaS in SMBs
- BPaaS in Public Services: Promising Opportunities in Store
- BPaaS Becomes an Inevitable Change for Banking and Financial Services Sector
- BPaaS Delivery Model Witnesses Growing Adoption in Healthcare Sector
- BPaaS Poised to Play a Vital Role in the Future of Healthcare
- Insurance Companies Warmup to BPaaS
- Procurement and Supply Chain BPaaS: Promising Growth in Store
- The Next Evolution of BPaaS to Shape the Capital Markets Industry
- Rise of e-Commerce Catalyzed by the Pandemic Fuels Growth for BPaaS Market
- Need for Synergy between BPO & Operations Encourages Shift towards As-a-Service Model
- Migration to SaaS and Private Cloud to Gain Momentum
- Human Cloud and the Role of BPO & BPaaS Services
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/oaeeyp
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