Business process-as-a-service (BPaaS) is the delivery of business process outsourcing services that are sourced from the cloud and constructed for multitenancy. BPaaS solutions offer enhanced business agility, scalability, reliability, and lower costs through transaction-based pricing. The implementation of BPaaS enables end-user industries to switch from a capital-intensive model to a consumption-based cost structure. Some of the major BPaaS solution providers including Fujitsu Limited, IBM Corporation, Wipro Limited, and others improve efficiency, security, and optimize business operations for enterprises through a robust virtual computing infrastructure.
The global BPaaS market is expected to witness a high growth rate during the forecast period due to the rise in ICT expenditure by governments in several developed and the developing regions that include North America, Europe, and Asia-Pacific. In addition, surge in the demand for flexible and faster implementation of IT infrastructure among end-user industries has augmented the BPaaS market growth. Moreover, BPaaS market is expected to witness high growth rate due to its low costs of deployment, easy accessibility, flexible payment model, and growth in demand for virtual servers, cloud storage, and disaster recovery services. However, data privacy apprehension in public cloud deployment is one of the key factors that restrains the market growth.
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The global BPaaS market is segmented based on application, deployment model, industry vertical, and geography. On the basis of application, it is categorized into HR service, finance & accounting service, analytics, supply chain management, digital asset management, and others. The deployment model includes private, public, and hybrid. Based on industry vertical, it is classified into banking, financial service, and insurance (BFSI); healthcare; government; manufacturing; retail; IT & telecom; and others (business service providers, media & entertainment, and hospitality). Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The passage highlights the trend of governmental organizations increasing their maintenance budgets for system infrastructure while also investing in initiatives for project development, modernization, and enhancement. This has led to the success of investments and an increase in the annual funding set aside by ICT vendors for the growth of the online market. The passage also mentions the anticipated increase in global ICT exports, which are expected to rise by an average of 3.9% yearly from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. The global supply of ICT has increased by 9.5% yearly since 2009.
In terms of global ICT exports in 2021, Ireland ranked first with US$ 169.32 billion, followed by the United States at number 2, India at number 3, and China at number 4. The passage also notes the significant increase in Brunei’s global ICT exports by 228.2% year over year since 2009, while Sierra Leone’s global ICT exports have decreased by 61.7% year over year in the same period. Overall, the passage highlights the growth and potential of the global ICT market, driven by increased investments and funding for infrastructure and project development.
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It seems that the ICT industry in Europe is predicted to experience moderate growth in the coming years, with an annual increase of 1.5% expected from 2021 to 2026. Germany currently holds the top position in terms of ICT revenue in Europe, followed by the United Kingdom, France, and Ireland. It’s interesting to note that while some countries like Malta have experienced significant growth in the ICT industry since 2016, others like Italy have seen a slight decline. This information can be useful for businesses and investors looking to enter or expand in the European ICT market.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an in-depth market analysis of BPaaS market outlining the current trends, key drivers, and potential areas for product investments.
Key players are analyzed with respect to their primary offerings, recent investments, and future developmental strategies.
A holistic approach of segmentation is carried out through in-depth market study and discussions with several industry experts.
The report provides highlights of top investment pockets, key impacting factors, and winning strategies of the global BPaaS market.
Key Market Players
Accenture
Wipro Limited
Tech Mahindra
Cognizant Technology Solutions Corporation
Capgemini
Genpact
IBM Corporation
Oracle Corporation
SAP SE
Fujitsu Limited
KEY MARKET SEGMENTS
BY Application
HR Service
Finance & Accounting Service
Analytics
Supply Chain Management
Digital Asset Management
Others (OMaaS and Managed Marketing Service)
BY DEPLOYMENT MODEL
Private
Public
Hybrid
BY INDUSTRY VERTICAL
Banking, Financial Services, and Insurance (BFSI)
Healthcare
Government
Manufacturing
Retail
IT & Telecom
Others (Business Service Providers, Media & Entertainment, and Hospitality)
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BY GEOGRAPHY
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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