Metal process

Size, Growth, Share and Forecast – The Grundy Register

According to the latest report of the IMARC group, entitled “Business Process as a Service (BPaaS) Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027“, the global business process as a service (BPaaS) market size reached US$53.63 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$101.95 billion. US dollars by 2027 growing at a CAGR of 10.5% during 2022-2027.

Business Process-as-a-Service (BPaaS) is a business process outsourcing (BPO) solution used to automate and outsource organizational tasks based on information technology (IT). It is deployed through cloud or web platforms. BPaaS can also be connected to several other services, including Software-as-a-Service (SaaS), Platform-as-a-Service (Paas), Infrastructure-as-a-Service (IaaS), etc. technological solutions that help improve the productivity and efficiency of the organization. BPaaS solutions are widely used in various industries, such as banking, financial services and insurance (BFSI), healthcare, education, entertainment, etc.

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Market trends

Growing demand for digital database services in banks and other financial institutions to access information and manage databases remotely is one of the major factors driving the business process as a service (BPaaS) market . Furthermore, the growing need for technological solutions to improve the operational efficiency, document management techniques, profitability, etc., of medium and large enterprises is further catalyzing the growth of the market. Additionally, the integration of business analytics, advanced process automation software, artificial intelligence (AI), cloud computing, etc., to help with record keeping, derivatives processing, to reconciliations, etc., increases the world market. Apart from this, the growing requirement for business process automation through remote delivery models is positively influencing the growth of the market. In addition, the launch of numerous initiatives by government bodies to improve data security, supply chain and human resource management, and finance-related operations are expected to fuel the business process market as service (BPaaS) over the forecast period.

To note: We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be included in the report.

Competitive Landscape:

The competitive landscape of the industry has also been reviewed along with the profiles of key players.

  • Accenture plc
  • Capgemini SE
  • Competent
  • Conduit Inc.
  • Fujitsu Limited
  • HCL Technologies Limited
  • International Commercial Machinery Society
  • Oracle Corporation
  • SAP SE
  • Tata Consultancy Services Limited
  • Tech Mahindra Limited
  • Wipro Limited.

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The report has segmented the market based on process, mode of deployment, organization size and vertical.

Breakdown by process:

  • Human Resource Management
  • Accounting and finance
  • Sales and Marketing
  • Supply chain management
  • Digital Asset Management
  • Others

Breakdown by deployment mode:

Breakdown by organization size:

  • Small and medium enterprises
  • Large companies

Breakdown by vertical industry:

  • Bank Financial Services and Insurance
  • Health care
  • Government
  • IT and Telecom
  • Manufacturing and retail
  • Others

Breakdown by region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

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