Business Process as a Service (BPaaS) Market which is set to 4.7 Billion USD by 2020
The major factors driving the BPaaS market are rise in deployment of automated business software and various business proceseses over cloud.
The Business Process as a Service Market size is estimated to grow from USD 1.62 Billion in 2015 to USD 4.71 Billion by 2020, at a CAGR of 23.7% from 2015 to 2020. The BPaaS market comprises a range of industry solutions that help clients and companies effectively adapt to the new changing business circumstances and reduce labor costs. The current trend in the BPaaS market is the increasing acceptance of technologies such as cloud computing, business analytics, social media platforms, and process automation software.
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These technologies contribute to cost reduction and more efficient operations by restructuring the systems background, thereby regulating the technological environment on a unified, centralized platform. The report aims at estimating the market size and future growth potential of Business Process as a Service Market across different segments such as process, solution, deployment type, service consumer, vertical and region. The base year considered for the study is 2014 and the market size is forecasted from 2015 to 2020. Companies are adopting BPaaS solutions to gain competitive advantage and distinguish themselves from their competitors by focusing on core competencies. The need for cost-effective business processes is driving the BPaaS market.
The challenge lies in identifying the most profitable business process service plan for a particular organizational function, and implementing it smoothly in the current work scenario. In enterprise IT, there always exists the hurdle of achieving integration. Lack of understanding of the cloud and integration of BPaaS solutions within the existing infrastructure result in various departments ending up with different business process outcomes.
This report provides detailed insights into the global Business Process as a Service (BPaaS) Market split across various regions, processes, and verticals. Accenture (U.S.), ADP (U.S.), Capgemini (U.S.), Cognizant Technologies (U.S.), Computer Science Corporation (CSC) (U.S.), Ebuilder (Sweden), Fujitsu Limited (Japan), Genpact (Bermuda), IBM (U.S.), Oracle (U.S.), and SAP (Germany) are some of the major players having a strong presence in this market.