Business Process as a Service (BPaaS) Market

IMARC Group expects the market to reach US$101.95 billion by 2027 growing at a CAGR of 10.5% during the period 2022-2027.

SHERIDAN, WYOMING, USA, Jan. 31, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Business Process as a Service (BPaaS) Market: Global Industry Trends, Share, Size , Growth, Opportunity 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 to which the market will reach US$101.95 billion by 2027., exhibiting a CAGR of 10.5% during the period 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.

Note: We regularly track the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

Competitive Landscape:

The competitive landscape of the industry has also been examined 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 industry vertical.

Breakdown by process:
Human Resource Management
Accounting and finance
Sales and Marketing
Supply chain management
Digital Asset Management
Others

Breakdown by deployment mode:
Private
public
Hybrid

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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About Us

The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.

Elena Anderson
IMARC Services Private Limited
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