What’s new for 2022?
- Global competitiveness and percentage market shares of key competitors
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Peer-to-Peer Online Interactive Tailored Updates
- Access our digital archives and MarketGlass Research Platform
- Free updates for one year
Edition: twenty; Published: february 2022
Executive Pool: 19438
Companies: 119 – Players covered include Accenture plc; ADP LLC.; capgemini; Cognizant Technology Solutions; Computer Science Corporation; eBuilder Sweden AB; Fujitsu Limited; Limited Genpact; IBM corporation; NGA Human Resources; Tata Consultancy Services Limited; Limited Wipro; WNS (Holdings) Limited and others.
Coverage: All major geographies and key segments
Segments: Business process (accounting and finance, human resource management, sales and marketing, customer service and support, purchasing and supply chain management, other business processes); End Use (BFSI, Healthcare, IT & Telecommunications, Government, E-Commerce & Retail, Manufacturing, Other End Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and rest of Europe); Pacific Asia (Australia; India; South Korea; and rest of Pacific Asia); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of middle East); and Africa.
Complimentary Project Preview – This is an ongoing global program. Preview our research program before making a purchase decision. We’re offering free access to qualified executives driving strategy, business development, sales and marketing, and product management roles at featured companies. Previews provide deep access to trading trends; competitive brands; domain expert profiles; and market data templates and much more. You can also create your own custom report using our MarketGlass™ platform, which offers thousands of bytes of data with no obligation to purchase our report. Preview record
RESUME-
Scope of the global business process as a service (BPaaS) market US$81.8 billion for the year 2026
Business Process as a Service (BPaaS) refers to the provision of business process outsourcing (BPO) services, which are optimized for multiple tenants and sourced from the cloud. BPaaS is one of the largest segments in the cloud computing market, encompassing almost any form of vertical or horizontal business process, delivered through the cloud. BPaaS solutions combine infrastructure with human talent and collaboration platforms to perform various knowledge processes and deliver business results to customers. Highly flexible and scalable BPaaS solutions help streamline processes and maximize returns. The BPaaS market worldwide is being transformed by the growing desire of organizations to build agility into business processes, while also achieving lower operating costs. As markets become increasingly globalized and the penetration of cloud technology in enterprises increases, organizations are actively turning to BPaaS solutions to improve business agility and create profitable business practices. The growing importance of software-based and automated outsourcing and the increasing adoption of cloud computing technology in organizations are also driving the adoption of BPaaS solutions in businesses. The market is expected to benefit from the increase in the number of organizations choosing to upgrade their HR processes with BPaaS solutions for a sustainable, flexible and profitable business model. Also driving adoption is the growing trend among organizations to make data-driven decisions.
Amid the COVID-19 crisis, the global Business Process as a Service (BPaaS) market was estimated at US$57.5 billion in 2022, it is projected to reach a revised size of US$81.8 billion by 2026, growing at a CAGR of 9.3% during the analysis period. Accounting & Finance, one of the segments analyzed in the report, is forecast to grow at a CAGR of 8.6% to reach US$23.9 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Human Resource Management segment is restated at a revised CAGR of 7.8% for the next 7-year period. This segment currently represents a 26.6% share of the global Business Process as a Service (BPaaS) market. BPaaS, which combines BPO and SaaS, is positioning itself as the future of HR BPO solutions. With the BPaaS delivery model, the labor component in outsourcing is increasingly being replaced by automation. The BPaaS model seeks to reduce the number of workers through automation and thus achieve a further reduction in operating costs. New technological advancements such as advanced process automation software, AI & ML, and cloud computing, among others, also offer further impetus to market growth by optimizing functions and processes, such as derivatives processing, reconciliations and record keeping, among others.
The US market is estimated at $26.3 billion in 2022, while China is forecast to reach $4.1 billion by 2026
The Business Process as a Service (BPaaS) market in the US is estimated at US$26.3 billion in the year 2022. The country currently has a 45.55% share of the global market. Chinathe second largest economy in the world, is forecast to reach an estimated market size of US$4.1 billion in 2026 with a CAGR of 12.5% during the analysis period. Other notable geographic markets include Japan and Canada, each forecast growth of 7.7% and 9.1%, respectively, over the period of analysis. Within Europe, Germany is forecast to grow at approximately 9% CAGR, while the rest of the European market (as defined in the study) will reach US$4 billion at the end of the analysis period. North America it is the largest regional market for BPaaS today. Several companies in the region, both large and SMEs, are leaning towards implementing technology to optimize their business processes. The continuous evolution of BPaaS solutions and the development of new implementation and payment options are unlocking significant opportunities for further market growth for BPaaS in North America. Adoption is particularly high in industries such as BFSI, retail, utilities, and transportation and logistics. The BPaaS market in Europe It is also expected to expand steadily in the coming years. The growth in this market would be led by the increasing adoption of digital and cloud technologies in various industries. The BPaaS market in Pacific Asia is led by the factors of increased broadband penetration and the rapid expansion of the business sector, even more so in fast emerging countries such as China and India.
Sales and marketing segment to reach $12.7 billion by 2026
In the global Sales and Marketing segment, USA, Canada, Japan, China and Europe will drive the 9.8% CAGR estimated for this segment. These regional markets represent a combined market size of US$6.4 billion will reach a projected size of US$12.1 billion at the end of the analysis period. China will remain among the fastest growing in this group of regional markets. Led by countries like Australia, Indiaand South Koreathe market in Pacific Asia is forecast to reach 825 million US dollars for the year 2026, while Latin America will expand at a CAGR of 12.6% over the analysis period.
Plus
MarketGlass™ Platform
Our MarketGlass™ platform is a free, full-stack knowledge hub that can be custom configured for the intelligence needs of today’s busy business executives! This interactive, influencer-driven research platform is at the core of our core research engagements, drawing on the unique perspectives of participating executives around the world. Features include: enterprise-wide peer-to-peer collaborations; progress of research programs relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; custom report generation; monitor market trends; competitive brands; create and publish blogs and podcasts using our primary and secondary content; keep track of domain events around the world; and much more. Client companies will have full internal access to project data stacks. Currently in use by over 67,000 domain experts worldwide.
Our platform is free to qualified executives and can be accessed from our website www.StrategyR.com or through our newly launched mobile app on iOS or Android.
About Global Industry Analysts, Inc. and StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher, the only influencer-driven market research company in the world. Proudly serving more than 42,000 clients in 36 countries, GIA has been recognized for its accurate market and industry forecasts for more than 33 years.
CONTACTS:
Zak Ali
Director of Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
LINKS
Join our panel of experts
https://www.strategyr.com/Panelista.asp
Connect with us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./
Follow us on Twitter
https://twitter.com/marketbytes
Journalists and Media
[email protected]
SOURCE Global Industry Analysts, Inc.
