With its recently published study “Global BPaaS Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, 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.
“Need for reliable security measures and demand for increased mobility to create business opportunity will steer the growth of the global BPaaS market.” analyzed Rahul Kumar Pandey, Research Analyst, Infoholic Research
Few of the Key Vendors in the BPaaS Market:
Accenture
IBM
Capgemini
Cognizant Technology Solutions
Genpact
HCL
Tata Consultancy Services
Wipro
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
Operations
Others (OMaaS and Managed Marketing Service)
BPaaS Market By Application
BFSI
Telecom & IT
Healthcare
Manufacturing
Government
Retail & Ecommerce
Others
Industry outlook: Market trends, drivers, restraints, and opportunities
Contact:
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