Global business process-as-a-service (BPaaS) market demand is anticipated to be valued at US$ 172,626.0 million in 2023. The demand for business process-as-a-service is forecasted to grow at a CAGR of 11.2%, surpassing the market valuation of US$ 500,552.0 million by 2033. Growth is attributed to increasing adoption in end-user industries. From 2018 to 2022, a CAGR of 9.1% was registered for the business process-as-a-service (BPaaS) market.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2018 to 2022) | 9.1%CAGR |
| Projected Growth Rate (2023 to 2033) | 11.2% CAGR |
| Expected Market Value (2023) | US$ 172,626.0 million |
| Anticipated Forecast Value (2033) | US$ 500,552.0 million |
Business process as a service (BPaaS) provides business processing outsourcing (BPO) services through cloud services. (BPaaS) can cater to various business processes, including horizontal and vertical business services. Nowadays, companies are looking for a service-oriented approach to fulfill their BPO services needs, which is one of the reasons cloud services have witnessed traction in their adoption globally. Companies are adopting (BPaaS) solutions to obtain a competitive edge and distinguish themselves from their competitors by focusing on their core business.
Growing acceptance of technologies such as cloud computing, business analytics, social media platforms, and process automation software are contributing to the market's growth. (BPaaS) solutions assist in reducing cost and increasing operational efficiency by restructuring the system background and providing a technological environment on a unified, centralized platform.
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Increasing adoption of cloud-based services in SMEs to drive the growth of the market
The main driver of (the BPaaS) market is the growing need to improve business process agility at minimum cost. The growing adoption of service models with suitable payment options is also contributing to the market's growth, with service providers offering pay-per-use pricing options. Factors such as globalization of markets, prominence of cloud technology, increasing adoption trend of (BPaaS) in SMBs, and increased IT spending are also driving the growth of the global (BPaaS) market.
The growing need for low-cost IT infrastructure & data accessibility and increased business process analytics in the BFSI sector drive the growth of global business process as-a-service (BPaaS). Also, an increase in cloud adoption across several industry verticals is to provide lucrative opportunities for market growth.
Lack of Knowledge About the Benefits of Business Process May Hamper the Growth of the Market
Although the business process-as-a-service (BPaaS) market has numerous end-uses, there are numerous obstacles that likely pose a challenge to market growth. The high initial cost of business process fusion technology is expected to be a major restraining factor for the growth of the business process-as-a-service (BPaaS) market over the forecast period.
The biggest challenge is identifying the most suitable business process service plan to cater to the need of a particular organizational function and deploying it smoothly in the current work scenario. In a business organization, the existence of problems with IT integration is prevalent. Lack of understanding of the cloud and integration of (BPaaS) solutions within the existing infrastructure results in different business process outcomes. This is another challenge the global (BPaaS) market is facing.
In addition to this, a lack of knowledge about the benefits of business process fusion and a lack of IT skills and knowledge in underdeveloped nations has led to less adoption. This factor is anticipated to be a major challenge for key players in the global business process-as-a-service (BPaaS) market.
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Presence of Technically Advance Infrastructure to Boost the Growth of the Market in The Region
North America is predicted to remain an attractive market during the forecast period, according to Future Market Insights. According to the study, North America accounts for a 28.3% share of the business process-as-a-service (BPaaS) market. The business process-as-a-service (BPaaS) sales in North America are projected to offer lucrative opportunities for revenue generation over the forecast period. The increased adoption of IoT devices and internet users is expected to drive the growth of the business process-as-a-service (BPaaS) market in the region.
The dominance of North America is attributed to the increased demand for business process outsourcing from sectors including BFSI, retail, telecommunication, and healthcare. The presence of leading players such as Accenture and Cognizant, to name a few, will continue driving sales in the country. For instance, in June 2022 - Accenture completed its acquisition of XtremeEDA, an Ottawa-headquartered silicon design services leader. The acquisition adds approximately 40 experienced engineers and practitioners working across industries, including software and platform, telecommunications, consumer products, avionics, and defense, to Accenture Cloud First.
Increasing Use of Internet of Things (IoT), Machine Learning, And Artificial Intelligence (AI), In Europe to Provide Opportunity for The Growth of the Market.
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the business process-as-a-service (BPaaS) market due to the rapidly growing industrialization in the region. The Europe business process-as-a-service (BPaaS) market accounts for a 24.3% share of the total global market.
The increased adoption of advanced technological solutions, such as the Internet of Things (IoT), machine learning, and artificial intelligence (AI), in business processes has increased the utilization of business process-as-a-service to manage large and complex data sets. Europe region, there is a growing need among business organizations to deploy a holistic solution that would address the total cost of service delivery rather than just operational cost.
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Presence of Strong IT Infrastructure in The Region Boost the Business Process-As-A-Service (BPaaS) Market in The Coming Years.
In terms of year-on-year growth, the said market share in the Asia Pacific region is the best-performing portion as per the new market research report on the global business process-as-a-service (BPaaS) market. Asia-Pacific is expected to witness high growth in the global business process-as-a-service (BPaaS) market due to the increased adoption of cloud and digital technologies across industries.
The presence of strong IT infrastructure and the development of large and small, and medium-scale organizations in the Asia Pacific are likely to drive significant growth in the business process-as-a-service (BPaaS) market. For instance, in September 2021 - HCL Technologies (HCL), a leading global technology company, and HANCOM Inc. signed a strategic partnership to share advanced software technology solutions and establish a mutual bridgehead for overseas expansion.
The adoption of business process services, as well as increasing demand for cloud computing, is likely to bolster market growth even further. In the Asia-Pacific region, the growth of the market is driven by expanding the enterprise sector and broadband penetration in countries such as China and India.
Digiclay Infotech Pvt. Ltd., Delkon Technologies, bk business solutions Pvt. Ltd, DXC Technology, WNS Global Services, and knowledge splice services are some start-up companies operating in the business process-as-a-service (BPaaS) market.
Some of the key participants present in the global business process-as-a-service (BPaaS) market include Accenture, Cognizant Technology Solutions, Cap Gemini SA, Computer Science Corporation (CSC), and Fujitsu Limited, among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Accenture, Cognizant Technology Solutions, and Cap Gemini SA account for considerable market size, several regional-level players are also operating across key growth regions.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 11.2% from 2023 to 2033 |
| Expected Market Value (2023) | US$ 172,626.0 million |
| Anticipated Forecast Value (2033) | US$ 500,552.0 million |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Countries Profiled |
|
| Key Companies Profiled |
|
| Customization | Available Upon Request |
The global market value is estimated to be near US$ 172,626 million in 2023.
Worldwide adoption of business process services advanced at 9.1% CAGR from 2018 to 2022.
Accenture, Cognizant, and Capgemini are the top service providers in current years.
Global players are focusing more here as it may follow a higher CAGR until 2033.
Regional data protection laws remain a significant challenge for the service providers.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Mode
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Deployment Mode, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment Mode, 2023 to 2033
5.3.1. Public Cloud
5.3.2. Private Cloud
5.3.3. Hybrid
5.4. Y-o-Y Growth Trend Analysis By Deployment Mode, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Deployment Mode, 2023 to 2033
6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Process
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Process, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Process, 2023 to 2033
6.3.1. Human Resource
6.3.2. Finance and Accounting
6.3.3. Marketing and Sales
6.4. Y-o-Y Growth Trend Analysis By Process, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Process, 2023 to 2033
7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. U.S.
8.2.1.2. Canada
8.2.2. By Deployment Mode
8.2.3. By Process
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Deployment Mode
8.3.3. By Process
8.4. Key Takeaways
9. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Deployment Mode
9.2.3. By Process
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Deployment Mode
9.3.3. By Process
9.4. Key Takeaways
10. Western Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. U.K.
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Deployment Mode
10.2.3. By Process
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Deployment Mode
10.3.3. By Process
10.4. Key Takeaways
11. Eastern Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Deployment Mode
11.2.3. By Process
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Deployment Mode
11.3.3. By Process
11.4. Key Takeaways
12. South Asia and Pacific Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Deployment Mode
12.2.3. By Process
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Deployment Mode
12.3.3. By Process
12.4. Key Takeaways
13. East Asia Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Deployment Mode
13.2.3. By Process
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Deployment Mode
13.3.3. By Process
13.4. Key Takeaways
14. Middle East and Africa Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Deployment Mode
14.2.3. By Process
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Deployment Mode
14.3.3. By Process
14.4. Key Takeaways
15. Key Countries Analysis
15.1. U.S.
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Deployment Mode
15.1.2.2. By Process
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Deployment Mode
15.2.2.2. By Process
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Deployment Mode
15.3.2.2. By Process
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Deployment Mode
15.4.2.2. By Process
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Deployment Mode
15.5.2.2. By Process
15.6. U.K.
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Deployment Mode
15.6.2.2. By Process
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Deployment Mode
15.7.2.2. By Process
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Deployment Mode
15.8.2.2. By Process
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Deployment Mode
15.9.2.2. By Process
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Deployment Mode
15.10.2.2. By Process
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Deployment Mode
15.11.2.2. By Process
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Deployment Mode
15.12.2.2. By Process
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Deployment Mode
15.13.2.2. By Process
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Deployment Mode
15.14.2.2. By Process
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Deployment Mode
15.15.2.2. By Process
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Deployment Mode
15.16.2.2. By Process
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Deployment Mode
15.17.2.2. By Process
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Deployment Mode
15.18.2.2. By Process
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Deployment Mode
15.19.2.2. By Process
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Deployment Mode
15.20.2.2. By Process
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Deployment Mode
15.21.2.2. By Process
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2022
15.22.2.1. By Deployment Mode
15.22.2.2. By Process
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2022
15.23.2.1. By Deployment Mode
15.23.2.2. By Process
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Deployment Mode
16.3.3. By Process
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Accenture Plc.
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Cognizant Technology Solutions
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Capgemini S.A.
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. Computer Science Corporation (CSC)
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Fujitsu Limited
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Genpact
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. IBM Corporation
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Oracle Corporation
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. SAP SE
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Wipro Limited
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Business Process as a Service (BPaaS) Market
