Industry Outlook and Trend Analysis
The BPaaS Market was worth USD 29.77 billion in the year of 2014 and is expected to register itself at a compound annual growth rate (CAGR) of 11.43% during the forecast period. Business process as a service (BPaaS) is giving business processing outsourcing (BPO) benefit through cloud administrations. BPaaS can provide different business process including even and vertical business administrations. Presently, the organizations are searching for benefit arranged way to deal with satisfy their BPO administrations require which is one reason cloud administrations has seen footing in its implementation universally. Organizations are implementing BPaaS solutions to acquire competitive edge and separate themselves from their rivals by concentrating on their core business.
Business Process Outlook and Trend Analysis
The Human Resource Management (HRM) business process is foreseen to have the biggest share of the overall industry amid the estimate time frame, inferable from the requirement for modernizing the current HRM frameworks in a reasonable model and the adaptability for working the cloud-based HRM frameworks. The customer service and bolster business process is foreseen to develop at the most elevated CAGR amid the gauge time frame, as associations are trying to change their client benefit operations by diminishing the operational expenses, while powerfully scaling up the operations related to low product life cycles.
Organization Size Outlook and Trend Analysis
The large enterprises section is anticipated to have the biggest share of the overall industry amid the conjecture time frame, inferable from the need to diminish the high Capital Expenditure (CAPEX) and Operating Expenditure (OPEX). Large enterprises have devoted in-house IT assets and bigger IT spending plans to consider the selection of the as-a-service model for their business processes. The Small and Medium-Sized Enterprises (SMEs) portion is foreseen to develop at the most astounding rate, inferable from the high implementation of BPaaS arrangements among the SMEs to increase operational effectiveness and result in diminished CAPEX, wanted results, and enhanced business productivity.
Vertical Outlook and Trend Analysis
The Financial Services, Insurance (BFSI), and Banking vertical is evaluated to have the biggest share of the market amid the estimate time frame, attributable to the appropriation of cloud arrangements, which has upgraded the emphasis on accomplishing abilities and rebalancing the costs on systems. The eCommerce and retail vertical is anticipated to develop at the most astounding rate, as BPaaS can help the small-sized and online retailers in enhancing their sales, services, and marketing and reducing the cost of ownership.
The BPaaS Market is segmented as follows-
By Business Process:
Accounting and Finance
Customer Service and Support
Human Resource Management (HRM)
Sales and Marketing
Procurement and Supply Chain Management
Others (Legal and R&D)
By Organization size:
Small and Medium-Sized Enterprises (SMEs)
Telecom and IT/ITES
eCommerce and Retail
Banking, Financial Services, and Insurance (BFSI)
Others (Media and Entertainment, and Education)
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?