Demand for Agile Business Processes will Drive Continued Adoption of BPaaS Solutions
The global BPaaS market is expected to witness a CAGR of over 11% during the forecast period 2019β2025
Bangalore, India, July 30, 2019: With its recently published study βGlobal BPaaS Market β Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025β, Infoholic Research estimates that there will be continued adoption of BPaaS, especially in the APAC region mainly due to the availability of skilled local talent and reduced cost of business operations.
BPaaS is being adopted by many companies across the globe due to its increased mobility, reduced process cost, and enhanced scalability. Furthermore, BPaaS also provides a wide range of opportunities to companies for growth, expansion, and productivity in a short duration. Furthermore, dynamic business trends and emerging needs of customers for agile solutions are expected to boost the market growth. However, integration of BPaaS solutions within the existing infrastructure is one of the major challenges in the global BPaaS market.
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The growing popularity of BPaaS solutions among enterprises is due to its ability to enhance security of business processes and facilitate flexibility. Implementation of BPaaS solutions helps in safeguarding from malware, spams, and viruses, providing an improved user experience. This shall encourage small and medium enterprises to adopt BPaaS solutions and gain significant market advantage in the coming years. Key players including Accenture, IBM, Capgemini, Cognizant Technology Solutions, EXL, Fujitsu, Genpact, HCL, and Tata Consultancy Services already have a significant presence in this market.
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North America is likely to lead the BPaaS market and will contribute heavily towards the overall revenue owing to its high adoption rates. The globalization of managed cloud services and increasing implementation of cloud computing will also act as key drivers in this region.
βNeed for reliable security measures and demand for increased mobility to create business opportunity will steer the growth of the global BPaaS market.β analyzed Rahul Kumar Pandey, Research Analyst, Infoholic Research
Few of the Key Vendors in the BPaaS Market:
- Cognizant Technology Solutions
- Tata Consultancy Services
- Tech Mahindra
- Oracle Corporation
Segmentation of the Report:
BPaaS Market By Organization Size
- Small and Medium Enterprises
- Large Enterprises
BPaaS By Business Process
- Accounting and Finance
- Sales and Marketing
- Human Resource Management
- Procurement and Supply Chain
- Customer Service and Support
- Others (OMaaS and Managed Marketing Service)
BPaaS Market By Application
- Telecom & IT
- Retail & Ecommerce
Industry outlook: Market trends, drivers, restraints, and opportunities
Ms. Kathakali Basu
Infoholic Research LLP