The Global Market for Business Process as a Service (BPaaS) is Projected to Reach US$68.8 Billion by 2020

Focus on Business Process Agility & Cost Optimization to Drive the Business Process as a Service (BPaaS) Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Business Process as a Service (BPaaS) market. The global market for Business Process as a Service (BPaaS) is projected to reach US$68.8 billion by 2020, driven by the growing need to improve business process agility and reduce costs.

Business Process as a Service (BPaaS) refers to the delivery of business process outsourcing (BPO) services, which are optimized for multi-tenancy and sourced from the cloud. BPaaS is one of the largest segments in the cloud computing market and encompasses almost any form of vertical or horizontal business processes that are delivered over the cloud. As markets become increasingly globalized and penetration of cloud technology in enterprises rises, organizations are actively opting for BPaaS solutions to improve business agility and build cost-effective business practices. BPaaS solutions are, in particular, suited to address the needs of businesses with globally dispersed operations. Also, BPaaS delivery model allows service providers to spread investments across multiple customers and cut down the need for capital investment through the use of pay-per use pricing model. This represents an important advantage in an era where IT budgets are being rationalized based on the “do more with less” concept. The scenario is driving the shift towards service models with convenient payment options, such as BPaaS that aid in cutting costs.

The growth in the BPaaS market is driven by the growing demand for automation and workplace virtualization among organizations across all major verticals. With organizations realizing the significance of agile business processes and cost control, focus has shifted onto BPaaS solutions that offer higher flexibility, greater performance, and simplified operations. The increasing integration of BPaaS solutions into existing organizational framework is also expected to bolster market growth, while allowing businesses to expand operations and adhere to regulatory and compliance standards. Specifically, BPaaS is likely to emerge as an ideal option for small and medium-sized companies that lack the financial muscle to invest in large-scale infrastructure. Through BPaaS services, SMBs can gain access to shared resources including infrastructure, applications and people, and receive standardized business processes.

As stated by the new market research report on Business Process as a Service (BPaaS), the United States represents the largest regional market, worldwide. The growing desire to reduce capital expenditure and improve operational efficiency is driving organizations to adopt BPaaS services. Despite drawbacks in the form of ambiguous quality of service benchmarking for BPaaS solutions, owing to concerns over compliance, privacy and security, companies are showing interest in adopting the BPaaS delivery model. Asia-Pacific is poised to emerge as the fastest growing market with a CAGR of 10% over the analysis period. The growth in the region is driven by expanding business and enterprise sector in countries such as India and China.

Major players covered in the report include Accenture plc, ADP LLC., Capgemini, Cognizant Technology Solutions, Computer Sciences Corporation, eBuilder Sweden AB, Fujitsu Limited, Genpact Limited, The getsix® Group, International Business Machines Corporation (IBM), NGA Human Resources, Tata Consultancy Services Limited, Wipro Limited, and WNS (Holdings) Limited, among others.

The research report titled “Business Process as a Service (BPaaS): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections in US$ for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India, South Korea, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. The report analyzes the market by the Service Types – HR, E-commerce Enablement, Cloud Payments, and Other BPaaS. 

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