Global BPaaS Market Overview:
BPaaS (Business Process as a Service) refers to a type of business process outsourcing that uses a cloud computing service model. Increasing adoption of BPaaS solution by organizations as it increases mobility due to which companies can access the data from any geographical location. For instance, IBM enhanced its product portfolio, by adding cloud private data, which is designed to help organizations utilize machine learning and data science and techniques, to generate valuable insights from data. Moreover, increasing demand for business process management and growing IT infrastructures globally expected to boost the demand for the BPaaS market.
- Rising Adoption of Cloud Solutions for Business Processes
- Growing Focus on Business Process Automation
- Increasing Demand Standardized Business Processes for Improved Business Efficiency
- Rising Applications in the Banking, Financial Services, and Insurance (BFSI) Vertical
- Lack of Skilled Technical Workforces
- Rising Demand from the Small and Medium Size (SMEs) Enterprises
- Increasing Demand for Human Resource Management (HRM) Business Process
- Lack of Awareness in the Emerging Economies
Some of the key players profiled in the report are Accenture (Ireland), IBM (United States), Capgemini (France), Cognizant (United States), EXL (United States), Wipro (India), Oracle (United States), SAP (Germany), Microsoft (United States), Fujitsu (Japan), Genpact (United Kingdom), HCL (India) and TCS (India). Additionally, following companies can also be profiled that are part of our coverage like Conduent (United States), Proceedit (Spain) and Avaloq (Switzerland). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global BPaaS market by 2024. Considering Market by Organization Size, the sub-segment i.e. Small and Medium-Sized Enterprises [SMEs] will boost the BPaaS market. Considering Market by Industry Vertical, the sub-segment i.e. Banking, Financial Services, and Insurance [BFSI] will boost the BPaaS market. Considering Market by Business Process, the sub-segment i.e. Human Resource Management (HRM) will boost the BPaaS market.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global BPaaS market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in BPaaS market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes BPaaS Service Providers, Technology Providers, Potential Investors, Government and Research Organizations, Trade Associations and Industry Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.