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Global BPaaS Market by Business Process (Human Resource Management, Customer Service & Support, Accounting & Finance), Deployment Model, Organization Size, Vertical (BFSI, Retail & eCommerce, Manufacturing, IT & Telecom) and Region - Forecast to 2028

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    Report

  • 246 Pages
  • March 2024
  • Region: Global
  • Markets and Markets
  • ID: 5944303
Description Jump to:
The BPaaS market is expected to grow from USD 63.3 billion in 2023 to USD 92.2 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 8% during the forecast period. As organizations increasingly prioritize flexibility and scalability, BPaaS emerges as a strategic enabler, enabling them to adapt to evolving market dynamics and achieve sustainable growth. The flexibility and scalability of BPaaS models allow businesses to adapt to changing market dynamics and scale their operations accordingly.

As per the business process, the procurement, supply chain management & operations segment is expected to grow at the second highest CAGR during the forecast period.

The BPaaS market is witnessing a rapid transformation driven by cloud-based solutions. These business processes revolutionize traditional practices by providing end-to-end support across the entire supply chain lifecycle. From procurement and sourcing to inventory management, logistics, and fulfillment, BPaaS platforms offer a suite of scalable and customizable tools. These solutions empower organizations to optimize inventory levels, streamline supplier relationships, and enhance operational efficiency by leveraging cutting-edge technologies such as artificial intelligence, machine learning, and predictive analytics. Real-time visibility into supply chain data enables agile decision-making, facilitating faster response times to market fluctuations and customer demands. Moreover, BPaaS providers offer flexible deployment models, allowing businesses to scale their operations seamlessly while reducing capital expenditures. By embracing BPaaS in procurement, supply chain, and operations, companies gain a competitive edge through improved cost-effectiveness, risk mitigation, and the ability to drive innovation in an ever-evolving marketplace.

As per vertical, the healthcare & life sciences vertical to grow at second highest CAGR in 2023

In the healthcare and life sciences sector, the BPaaS market is witnessing significant growth as organizations seek innovative solutions to optimize processes and enhance patient care. BPaaS offers tailored services to healthcare providers, pharmaceutical companies, and research institutions, enabling them to streamline administrative tasks, manage patient data securely, and comply with regulatory requirements more effectively. By leveraging cloud-based platforms, BPaaS enhances collaboration among healthcare professionals, facilitates remote patient monitoring, and accelerates clinical trials. Additionally, BPaaS solutions utilize advanced analytics and artificial intelligence to drive insights from vast amounts of healthcare data, ultimately leading to improved diagnoses, personalized treatments, and better patient outcomes.

As per region, North America will witness the largest market share during the forecast period

BPaaS is reshaping the North American market by automating workflows, enhancing agility, and reducing costs across various industries. The impact of the North American BPaaS industry is evident in sectors like healthcare, finance, manufacturing, and retail. While creating new job opportunities, BPaaS also intensifies competition among major players like IBM, Oracle, and SAP, fostering innovation and better pricing. Security concerns persist, requiring careful selection of providers and robust measures. Small and medium-sized businesses increasingly adopt BPaaS for its affordability and ease of use, aided by the rise of cloud computing and artificial intelligence. Overall, BPaaS contributes to increased productivity, job creation, and economic growth in North America.

The breakup of the profiles of the primary participants is below:

  • By Company: Tier I: 40%, Tier II: 35%, and Tier III: 25%
  • By Designation: C-Level Executives: 45%, Director Level: 35%, and Others: 20%
  • By Region: North America: 35%, Europe: 25%, Asia-Pacific: 30%, Rest of World: 10%
Note: Others include sales managers, marketing managers, and product managers
Note: The rest of the world consists of the Middle East & Africa, and Latin America
Note: Tier 1 companies have revenues of more than USD 100 million; tier 2 companies’ revenue ranges from USD 10 million to USD 100 million; and tier 3 companies’ revenue is less than 10 million
Source: Secondary Literature, Expert Interviews, and Analysis

Some of the significant vendors offering BPaaS Solutions across the globe include: Accenture (Ireland), Capgemini (France), Cognizant (US), IBM(US), HCL (India), TCS (India), Fujitsu (Japan), Genpact (US), Wipro (India), Tech Mahindra (India), EXL (US), DXC Technology (US), Conduent (US), Infosys BPM (India), Bizagi (US).

Research coverage

The market study covers the BPaaS market across segments. It aims to estimate the market size and the growth potential of this market across different market segments, such as business process, deployment model, organization size, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Reasons to buy this report

The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall BPaaS market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (cloud adoption fuels BPaaS demand, emphasizing scalability and flexibility also cost optimization drives BPaaS exploration, seeking efficient alternatives), restraints (rising security & compliance concerns), opportunities (cloud ecosystem growth facilitates BPaaS scalability and integration), and challenges (challenges integrating BPaaS with existing system) influencing the development of the BPaaS market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the BPaaS market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the BPaaS market across varied regions.
  • Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the BPaaS market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and business processes offered in BPaaS of leading players like Accenture (Ireland), Capgemini (France), Cognizant (US), IBM (US), TCS (India), among others in the BPaaS market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
Figure 1 BPaaS Market Segmentation
1.3.2 Regions Covered
Figure 2 BPaaS Market Segmentation, by Region
1.3.3 Years Considered
1.4 Currency Considered
Table 1 USD Exchange Rates, 2018-2022
1.5 Stakeholders
1.6 Summary of Changes
1.6.1 Recession Impact
2 Research Methodology
2.1 Research Approach
Figure 3 BPaaS Market: Research Design
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Profiles
Figure 4 Breakup of Primary Profiles, by Company Type, Designation, and Region
2.1.2.2 Key Industry Insights
Figure 5 BPaaS Market: Key Industry Insights
2.2 Market Size Estimation
Figure 6 BPaaS Market: Top-Down and Bottom-Up Approaches
2.2.1 Top-Down Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
2.2.2 Bottom-Up Approach
Figure 8 Market Size Estimation Methodology: Bottom-Up Approach
Figure 9 BPaaS Market: Research Flow
Figure 10 Market Size Estimation Methodology: Supply-Side Analysis
Figure 11 Bottom-Up Approach from Supply Side: Collective Revenue of Vendors
Figure 12 CAGR Projections from Supply Side
Figure 13 Demand-Side Approach
2.3 Market Forecast
Table 2 Factor Analysis
2.4 Data Triangulation
Figure 14 BPaaS Market: Data Triangulation
2.5 Impact of Recession on Global BPaaS Market
2.6 Research Assumptions
2.7 Study Limitations
3 Executive Summary
Table 3 BPaaS Market Size and Growth, 2018-2022 (USD Million and Y-O-Y)
Table 4 BPaaS Market Size and Growth, 2023-2028 (USD Million and Y-O-Y)
Figure 15 Global BPaaS to Witness Significant Growth
Figure 16 Fastest-Growing Segments in BPaaS Market, 2023-2028
Figure 17 BPaaS Market: Regional Snapshot, 2023-2028
4 Premium Insights
4.1 Overview of BPaaS Market
Figure 18 Streamlining and Optimizing Business Processes Through BPaaS to Result in Improved Customer Experiences
4.2 BPaaS Market, by Business Process
Figure 19 Human Resource Management to Account for Largest Market Share Among Business Process During Forecast Period
4.3 BPaaS Market, by Deployment Model
Figure 20 Public Cloud to Account for Largest Market Share Among Deployment Models During Forecast Period
4.4 BPaaS Market, by Organization Size
Figure 21 Large Enterprises to Account for Larger Adoption of BPaaS Market During Forecast Period
4.5 BPaaS Market, by Vertical
Figure 22 BFSI Vertical to Account for Largest Market Share in 2023
4.6 BPaaS Market: Regional Scenario
Figure 23 Asia-Pacific to Emerge as Best Market for Investment in Next Five Years
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
Figure 24 Drivers, Restraints, Opportunities, and Challenges: BPaaS Market
5.2.1 Drivers
5.2.1.1 Cloud Adoption Emphasized Scalability and Flexibility
5.2.1.2 Cost Optimization to Drive Need for Efficient Alternatives
5.2.1.3 Automation and AI Enhance Operational Efficiency of BPaaS
5.2.1.4 Surge in Industry-Specific BPaaS Solutions, Fostering Innovation and Customization
5.2.1.5 Growth of BPaaS Adoption Among SMEs, Enhancing Accessibility and Competitiveness
5.2.2 Restraints
5.2.2.1 Rise in Security and Compliance Concerns
5.2.2.2 Dependency Concerns on Specific BPaaS Providers
5.2.3 Opportunities
5.2.3.1 Focus on Multi-Process Business Workflow
5.2.3.2 Expanding Market Access and Inclusivity in BPaaS Solutions
5.2.4 Challenges
5.2.4.1 Challenges Integrating BPaaS with Existing Systems
5.2.4.2 Navigating Evolving Regulations Hampers Growth and Innovation
5.3 Case Study Analysis
5.3.1 Accenture's Synops Fueled Operational Excellence for Leading Oil & Gas Company
5.3.2 Cognizant BPaaS Drove Health Plan to Efficiency and Revenue Leadership
5.3.3 Infosys Bpm Scaled Tech Leader's Nlp with Improved Efficiency and Significant Conflict Reduction
5.3.4 Genpact's Operational Resilience Framework Enabled Leading Financial Organization to Anticipate and Adapt
5.3.5 Tcs Supported Operational Excellence Through Cost Reduction and Risk Mitigation for Large Global Investment Bank
5.4 Value Chain Analysis
Figure 25 BPaaS Market: Value Chain Analysis
5.5 Ecosystem
Figure 26 BPaaS Market: Ecosystem
5.6 Technological Analysis
5.6.1 Key Technologies
5.6.1.1 Cloud Computing
5.6.1.2 Data Analytics
5.6.2 Complementary Technologies
5.6.2.1 Internet of Things (IoT)
5.6.2.2 AR/VR
5.6.2.3 5G
5.6.3 Adjacent Technologies
5.6.3.1 Blockchain
5.6.3.2 AI/ML
5.7 Pricing Analysis
5.7.1 Average Selling Price (ASP) Trend of Key Players, by Service
Figure 27 BPaaS Asp of Key Players, by Service (USD/Month)
Table 5 Indicative Pricing Analysis of BPaaS Vendors, by Offering
5.8 Patent Analysis
Figure 28 Number of Patents Published, 2013-2023
Figure 29 Top Five Global Patent Owners
Table 6 US: Top 10 Patent Applicants
5.9 Porter's Five Forces Analysis
Figure 30 BPaaS Market: Porter's Five Forces Analysis
Table 7 Porter's Five Forces Impact on BPaaS Market
5.9.1 Threat of New Entrants
5.9.2 Threat of Substitutes
5.9.3 Bargaining Power of Suppliers
5.9.4 Bargaining Power of Buyers
5.9.5 Intensity of Competitive Rivalry
5.10 Regulatory Landscape
5.10.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 8 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 11 RoW: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.10.2 Regulations
5.11 Trends/Disruptions Impacting Customer's Business
Figure 31 Revenue Shift for BPaaS Market
5.12 Key Stakeholders and Buying Criteria
5.12.1 Key Stakeholders in Buying Process
Figure 32 Influence of Stakeholders on Buying Process for End-users
Table 12 Influence of Stakeholders on Buying Process for End-users
5.12.2 Buying Criteria
Figure 33 Key Buying Criteria for End-users
Table 13 Key Buying Criteria for End-users
5.13 Business Model Analysis
Figure 34 BPaaS Market: Business Model
5.14 Investment and Funding Scenario
Figure 35 Investment and Funding Scenario of Major BPaaS Companies
5.15 Key Conferences and Events
Table 14 BPaaS Market: Detailed List of Conferences and Events, 2024
6 BPaaS Market, by Business Process
6.1 Introduction
Figure 36 Human Resource Management to Account for Larger Market Size During Forecast Period
6.1.1 Business Process: BPaaS Market Drivers
Table 15 BPaaS Market, by Business Process, 2018-2022 (USD Million)
Table 16 BPaaS Market, by Business Process, 2023-2028 (USD Million)
6.2 Human Resource Management
6.2.1 Optimizing Resource Utilization, Improving Operational Efficiency, and Focusing on Strategic Initiatives
6.2.2 Payroll Processing
6.2.3 Employee Onboarding
6.2.4 Benefits Administration
6.2.5 Other Human Resource Management Processes
Table 17 BPaaS Market in Human Resource Management, by Region, 2018-2022 (USD Million)
Table 18 BPaaS Market in Human Resource Management, by Region, 2023-2028 (USD Million)
6.3 Accounting & Finance
6.3.1 Need to Mitigate Risks Associated with Financial Transactions
6.3.2 Accounts Payable
6.3.3 General Ledger
6.3.4 Financial Reporting
6.3.5 Other Accounting & Finance Processes
Table 19 BPaaS Market in Accounting & Finance, by Region, 2018-2022 (USD Million)
Table 20 BPaaS Market in Accounting & Finance, by Region, 2023-2028 (USD Million)
6.4 Sales & Marketing
6.4.1 Need for Lead Scoring, Customer Segmentation, Email Marketing, and Social Media Management
6.4.2 Lead Generation Services
6.4.3 Customer Relationship Management (Crm) Services
6.4.4 Other Sales & Marketing Processes
Table 21 BPaaS Market in Sales & Marketing, by Region, 2018-2022 (USD Million)
Table 22 BPaaS Market in Sales & Marketing, by Region, 2023-2028 (USD Million)
6.5 Customer Service & Support
6.5.1 Growth in Awareness Regarding Customer Satisfaction and Loyalty in Competitive Markets
6.5.2 Call Center Operations
6.5.3 Help Desk Support
6.5.4 Ticket Management
6.5.5 Other Customer Service & Support Processes
Table 23 BPaaS Market in Customer Service & Support, by Region, 2018-2022 (USD Million)
Table 24 BPaaS Market in Customer Service & Support, by Region, 2023-2028 (USD Million)
6.6 Procurement, Supply Chain Management, and Operations
6.6.1 Streamlining Procurement and Supply Chains & Operations with End-To-End Support
6.6.2 Vendor Management
6.6.3 Purchase Order Processing
6.6.4 Inventory Optimization
6.6.5 Distribution & Logistics
6.6.6 Other Procurement, Supply Chain Management, and Operation Processes
Table 25 BPaaS Market in Procurement, Supply Chain Management, and Operations, by Region, 2018-2022 (USD Million)
Table 26 BPaaS Market in Procurement, Supply Chain Management, and Operations, by Region, 2023-2028 (USD Million)
6.7 Other Business Processes
Table 27 BPaaS Market in Other Business Processes, by Region, 2018-2022 (USD Million)
Table 28 BPaaS Market in Other Business Processes, by Region, 2023-2028 (USD Million)
7 BPaaS Market, by Deployment Model
7.1 Introduction
7.1.1 Deployment Model: BPaaS Market Drivers
Figure 37 Hybrid Cloud Deployment Model to Record Highest CAGR
Table 29 BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 30 BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
7.2 Public Cloud
7.2.1 Scalability, Flexibility, and Cost-Efficiency Sought by Organizations
Table 31 Public Cloud-based BPaaS Market, by Region, 2018-2022 (USD Million)
Table 32 Public Cloud-based BPaaS Market, by Region, 2023-2028 (USD Million)
7.3 Private Cloud
7.3.1 Meeting Specific Workload Requirements to Ensure Optimal Performance and User Satisfaction
Table 33 Private Cloud-based BPaaS Market, by Region, 2018-2022 (USD Million)
Table 34 Private Cloud-based BPaaS Market, by Region, 2023-2028 (USD Million)
7.4 Hybrid Cloud
7.4.1 Interoperability Between On-Premises Systems and Cloud Services to Offer Added Leverage in Using Newer Technologies
Table 35 Hybrid Cloud-based BPaaS Market, by Region, 2018-2022 (USD Million)
Table 36 Hybrid Cloud-based BPaaS Market, by Region, 2023-2028 (USD Million)
8 BPaaS Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: BPaaS Market Drivers
Figure 38 Small & Medium-Sized Enterprises to Record Higher CAGR During Forecast Period
Table 37 BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 38 BPaaS Market, by Organization Size, 2023-2028 (USD Million)
8.2 Large Enterprises
8.2.1 Business Process Services Tailored to Needs of Large Enterprises
Table 39 BPaaS Market for Large Enterprises, by Region, 2018-2022 (USD Million)
Table 40 BPaaS Market for Large Enterprises, by Region, 2023-2028 (USD Million)
8.3 Small & Medium-Sized Enterprises
8.3.1 Economical Business Process Services Aligning with Needs of SMEs
Table 41 BPaaS Market for Small & Medium-Sized Enterprises, by Region, 2018-2022 (USD Million)
Table 42 BPaaS Market for Small & Medium-Sized Enterprises, by Region, 2023-2028 (USD Million)
9 BPaaS Market, by Vertical
9.1 Introduction
9.1.1 Vertical: BPaaS Market Drivers
Figure 39 Retail & Ecommerce Vertical to Record Higher CAGR
Table 43 BPaaS Market, by Vertical, 2018-2022 (USD Million)
Table 44 BPaaS Market, by Vertical, 2023-2028 (USD Million)
9.2 BFSI
9.2.1 BFSI: Use Cases
9.2.1.1 Retail Banking
9.2.1.2 Investment Banking
9.2.2 Other BFSI Use Cases
Table 45 BPaaS Market in BFSI Vertical, by Region, 2018-2022 (USD Million)
Table 46 BPaaS Market in BFSI Vertical, by Region, 2023-2028 (USD Million)
9.3 IT & Telecom
9.3.1 IT & Telecom: Use Cases
9.3.1.1 Billing & Invoicing
9.3.1.2 Network Management
9.3.1.3 Other IT & Telecom Use Cases
Table 47 BPaaS Market in IT & Telecom Vertical, by Region, 2018-2022 (USD Million)
Table 48 BPaaS Market in IT & Telecom Vertical, by Region, 2023-2028 (USD Million)
9.4 Manufacturing
9.4.1 Manufacturing: Use Cases
9.4.1.1 Production Planning & Control
9.4.2 Asset Management
9.4.3 Other Manufacturing Use Cases
Table 49 BPaaS Market in Manufacturing Vertical, by Region, 2018-2022 (USD Million)
Table 50 BPaaS Market in Manufacturing Vertical, by Region, 2023-2028 (USD Million)
9.5 Retail & Ecommerce
9.5.1 Unified Shopping Experience Across All Channels
9.5.2 Retail & Ecommerce: Use Cases
9.5.2.1 Order Processing
9.5.2.2 Inventory Management
9.5.2.3 Other Retail & Ecommerce Use Cases
Table 51 BPaaS Market in Retail & Ecommerce Vertical, by Region, 2018-2022 (USD Million)
Table 52 BPaaS Market in Retail & Ecommerce Vertical, by Region, 2023-2028 (USD Million)
9.6 Healthcare & Life Sciences
9.6.1 Personalized Treatments to Facilitate BPaaS with Precise Analytics
9.6.2 Healthcare & Life Sciences: Use Cases
9.6.2.1 Medical Billing
9.6.3 Claims Processing
9.6.4 Other Healthcare & Life Sciences Use Cases
Table 53 BPaaS Market in Healthcare & Life Sciences, by Region, 2018-2022 (USD Million)
Table 54 BPaaS Market in Healthcare & Life Sciences, by Region, 2023-2028 (USD Million)
9.7 Government & Public Sector
9.7.1 Services for Public with Enhanced Financial and Security Driven by BPaaS
9.7.2 Government & Public Sector: Use Cases
9.7.2.1 Regulatory Compliance
9.7.2.2 Public Finance & Budgeting
9.7.2.3 Other Government & Public Sector Use Cases
Table 55 BPaaS Market in Government & Public Sector Vertical, by Region, 2018-2022 (USD Million)
Table 56 BPaaS Market in Government & Public Sector Vertical, by Region, 2023-2028 (USD Million)
9.8 Other Verticals
Table 57 BPaaS Market in Other Verticals, by Region, 2018-2022 (USD Million)
Table 58 BPaaS Market in Other Verticals, by Region, 2023-2028 (USD Million)
10 BPaaS Market, by Region
10.1 Introduction
Figure 40 North America to Account for Largest Share in BPaaS Market
Table 59 BPaaS Market, by Region, 2018-2022 (USD Million)
Table 60 BPaaS Market, by Region, 2023-2028 (USD Million)
10.2 North America
10.2.1 North America: BPaaS Market Drivers
10.2.2 North America: Recession Impact
Figure 41 North America: BPaaS Market Snapshot
Table 61 North America: BPaaS Market, by Business Process, 2018-2022 (USD Million)
Table 62 North America: BPaaS Market, by Business Process, 2023-2028 (USD Million)
Table 63 North America: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 64 North America: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 65 North America: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 66 North America: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
Table 67 North America: BPaaS Market, by Vertical, 2018-2022 (USD Million)
Table 68 North America: BPaaS Market, by Vertical, 2023-2028 (USD Million)
Table 69 North America: BPaaS Market, by Country, 2018-2022 (USD Million)
Table 70 North America: BPaaS Market, by Country, 2023-2028 (USD Million)
10.2.3 US
10.2.3.1 Huge Cloud Adoption with Industry-Specific BPaaS Offerings
Table 71 US: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 72 US: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 73 US: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 74 US: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.2.4 Canada
10.2.4.1 Prioritizing AI and RPA Integration for Enhanced Automation and Efficiency with High Concentration of SMEs
Table 75 Canada: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 76 Canada: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 77 Canada: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 78 Canada: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.3 Europe
10.3.1 European BPaaS Market Drivers
10.3.2 Europe: Recession Impact
Table 79 Europe: BPaaS Market, by Business Process, 2018-2022 (USD Million)
Table 80 Europe: BPaaS Market, by Business Process, 2023-2028 (USD Million)
Table 81 Europe: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 82 Europe: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 83 Europe: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 84 Europe: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
Table 85 Europe: BPaaS Market, by Vertical, 2018-2022 (USD Million)
Table 86 Europe: BPaaS Market, by Vertical, 2023-2028 (USD Million)
Table 87 Europe: BPaaS Market, by Country, 2018-2022 (USD Million)
Table 88 Europe: BPaaS Market, by Country, 2023-2028 (USD Million)
10.3.3 UK
10.3.3.1 Growing Adoption of Advanced Technologies to Increase Demand for BPaaS
Table 89 UK: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 90 UK: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 91 UK: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 92 UK: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.3.4 Germany
10.3.4.1 Rise in Emphasis on Enhancing Customer Experience Using BPaaS Solutions
Table 93 Germany: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 94 Germany: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 95 Germany: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 96 Germany: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.3.5 France
10.3.5.1 Rise in Adoption of Cloud-based BPaaS Solutions
Table 97 France: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 98 France: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 99 France: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 100 France: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.3.6 Italy
10.3.6.1 Increase in Adoption of BPaaS in SMEs
Table 101 Italy: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 102 Italy: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 103 Italy: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 104 Italy: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.3.7 Rest of Europe
Table 105 Rest of Europe: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 106 Rest of Europe: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 107 Rest of Europe: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 108 Rest of Europe: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.4 Asia-Pacific
10.4.1 Asia-Pacific: BPaaS Market Drivers
10.4.2 Asia-Pacific: Recession Impact
Figure 42 Asia-Pacific: BPaaS Market Snapshot
Table 109 Asia-Pacific: BPaaS Market, by Business Process, 2018-2022 (USD Million)
Table 110 Asia-Pacific: BPaaS Market, by Business Process, 2023-2028 (USD Million)
Table 111 Asia-Pacific: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 112 Asia-Pacific: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 113 Asia-Pacific: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 114 Asia-Pacific: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
Table 115 Asia-Pacific: BPaaS Market, by Vertical, 2018-2022 (USD Million)
Table 116 Asia-Pacific: BPaaS Market, by Vertical, 2023-2028 (USD Million)
Table 117 Asia-Pacific: BPaaS Market, by Country, 2018-2022 (USD Million)
Table 118 Asia-Pacific: BPaaS Market, by Country, 2023-2028 (USD Million)
10.4.3 China
10.4.3.1 Rapid Adoption of Cloud-based Services due to Rise in Work-From-Home Operations
Table 119 China: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 120 China: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 121 China: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 122 China: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.4.4 Japan
10.4.4.1 Growth in Need to Standardize or Customize Services
Table 123 Japan: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 124 Japan: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 125 Japan: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 126 Japan: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.4.5 Australia & New Zealand
10.4.5.1 Enhanced Efficiency Across Organizations with BPaaS
Table 127 Australia & New Zealand: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 128 Australia & New Zealand: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 129 Australia & New Zealand: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 130 Australia & New Zealand: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.4.6 Rest of Asia-Pacific
Table 131 Rest of Asia-Pacific: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 132 Rest of Asia-Pacific: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 133 Rest of Asia-Pacific: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 134 Rest of Asia-Pacific: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.5 Middle East & Africa
10.5.1 Middle East & Africa: BPaaS Market Drivers
10.5.2 Middle East & Africa: Recession Impact
Table 135 Middle East & Africa: BPaaS Market, by Business Process, 2018-2022 (USD Million)
Table 136 Middle East & Africa: BPaaS Market, by Business Process, 2023-2028 (USD Million)
Table 137 Middle East & Africa: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 138 Middle East & Africa: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 139 Middle East & Africa: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 140 Middle East & Africa: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
Table 141 Middle East & Africa: BPaaS Market, by Vertical, 2018-2022 (USD Million)
Table 142 Middle East & Africa: BPaaS Market, by Vertical, 2023-2028 (USD Million)
Table 143 Middle East & Africa: BPaaS Market, by Country/Region, 2018-2022 (USD Million)
Table 144 Middle East & Africa: BPaaS Market, by Country/Region, 2023-2028 (USD Million)
10.5.3 GCC
10.5.3.1 Huge Demand for Outsourcing Critical Processes
Table 145 GCC: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 146 GCC: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 147 GCC: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 148 GCC: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
Table 149 GCC: BPaaS Market, by Country, 2018-2022 (USD Million)
Table 150 GCC: BPaaS Market, by Country, 2023-2028 (USD Million)
10.5.3.2 Saudi Arabia
10.5.3.3 UAE
10.5.3.4 Rest of GCC
10.5.4 South Africa
10.5.4.1 Increase in Use of Cloud Services That Offer Cost Optimization
Table 151 South Africa: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 152 South Africa: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 153 South Africa: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 154 South Africa: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.5.5 Rest of Middle East & Africa
Table 155 Rest of Middle East & Africa: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 156 Rest of Middle East & Africa: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 157 Rest of Middle East & Africa: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 158 Rest of Middle East & Africa: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.6 Latin America
10.6.1 Latin America: BPaaS Market Drivers
10.6.2 Latin America: Recession Impact
Table 159 Latin America: BPaaS Market, by Business Process, 2018-2022 (USD Million)
Table 160 Latin America: BPaaS Market, by Business Process, 2023-2028 (USD Million)
Table 161 Latin America: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 162 Latin America: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 163 Latin America: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 164 Latin America: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
Table 165 Latin America: BPaaS Market, by Vertical, 2018-2022 (USD Million)
Table 166 Latin America: BPaaS Market, by Vertical, 2023-2028 (USD Million)
Table 167 Latin America: BPaaS Market, by Country, 2018-2022 (USD Million)
Table 168 Latin America: BPaaS Market, by Country, 2023-2028 (USD Million)
10.6.3 Brazil
10.6.3.1 Development of IT Industry
Table 169 Brazil: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 170 Brazil: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 171 Brazil: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 172 Brazil: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.6.4 Mexico
10.6.4.1 Higher Focus on Improving Business Operations with Remote Access to Skilled Professionals
Table 173 Mexico: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 174 Mexico: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 175 Mexico: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 176 Mexico: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
10.6.5 Rest of Latin America
Table 177 Rest of Latin America: BPaaS Market, by Deployment Model, 2018-2022 (USD Million)
Table 178 Rest of Latin America: BPaaS Market, by Deployment Model, 2023-2028 (USD Million)
Table 179 Rest of Latin America: BPaaS Market, by Organization Size, 2018-2022 (USD Million)
Table 180 Rest of Latin America: BPaaS Market, by Organization Size, 2023-2028 (USD Million)
11 Competitive Landscape
11.1 Overview
11.2 Key Player Strategies/Right to Win
Table 181 Overview of Strategies Adopted by Key BPaaS Vendors
11.3 Revenue Analysis
Figure 43 Revenue Analysis of Key Players in Past Five Years (USD Billion)
11.4 Market Share Analysis
Figure 44 Share of Leading Companies in BPaaS Market, 2022
Table 182 BPaaS Market: Degree of Competition
11.5 Product/Brand Comparison
Table 183 Vendor Products/Brands Comparison
11.6 Company Evaluation Matrix for Key Players
11.6.1 Stars
11.6.2 Emerging Leaders
11.6.3 Pervasive Players
11.6.4 Participants
Figure 45 BPaaS Market: Company Evaluation Matrix for Key Players, 2022
11.6.5 Company Footprint for Key Players
Figure 46 Company Footprint
Table 184 Region Footprint
Table 185 Business Process Footprint
Table 186 Deployment Model Footprint
Table 187 Organization Size Footprint
Table 188 Vertical Footprint
11.7 Company Evaluation Matrix for Startups/SMEs
11.7.1 Progressive Companies
11.7.2 Responsive Companies
11.7.3 Dynamic Companies
11.7.4 Starting Blocks
Figure 47 BPaaS Market: Company Evaluation Matrix for Startups/SMEs, 2022
11.7.5 Competitive Benchmarking of Startups/SMEs
Table 189 BPaaS Market: Detailed List of Key Startups/SMEs, 2023
Table 190 BPaaS Market: Competitive Benchmarking of Key Startups/SMEs
11.8 Company Financial Metrics
Figure 48 Company Financial Metrics, 2024
11.9 Key Market Developments
11.9.1 Product Launches & Product Enhancements
Table 191 BPaaS Market: Product Launches & Enhancements, September 2020-November 2023
11.9.2 Deals
Table 192 BPaaS Market: Deals, February 2023-January 2024
12 Company Profiles
12.1 Key Players
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View)*
12.1.1 Accenture
Table 193 Accenture: Business Overview
Figure 49 Accenture: Company Snapshot
Table 194 Accenture: Products/Solutions/Services Offered
Table 195 Accenture: Product Launches & Enhancements
Table 196 Accenture: Deals
12.1.2 Capgemini
Table 197 Capgemini: Company Overview
Figure 50 Capgemini: Company Snapshot
Table 198 Capgemini: Products/Solutions/Services Offered
Table 199 Capgemini: Product Launches & Enhancements
Table 200 Capgemini: Deals
12.1.3 Cognizant
Table 201 Cognizant: Business Overview
Figure 51 Cognizant: Company Snapshot
Table 202 Cognizant: Products/Solutions/Services Offered
Table 203 Cognizant: Product Launches & Enhancements
Table 204 Cognizant Deals
12.1.4 IBM
Table 205 IBM: Business Overview
Figure 52 IBM: Company Snapshot
Table 206 IBM: Products/Solutions/Services Offered
Table 207 IBM: Product Launches & Enhancements
Table 208 IBM: Deals
12.1.5 Hcl
Table 209 Hcl: Business Overview
Figure 53 Hcl: Company Snapshot
Table 210 Hcl: Products/Solutions/Services Offered
Table 211 Hcl: Product Launches & Enhancements
Table 212 Hcl: Deals
12.1.6 Tcs
Table 213 Tcs: Company Overview
Figure 54 Tcs: Company Snapshot
Table 214 Tcs: Products/Solutions/Services Offered
Table 215 Tcs: Deals
12.1.7 Fujitsu
Table 216 Fujitsu: Company Overview
Figure 55 Fujitsu: Company Snapshot
Table 217 Fujitsu: Products/Solutions/Services Offered
Table 218 Fujitsu: Product Launches & Enhancements
Table 219 Fujitsu: Deals
12.1.8 Genpact
Table 220 Genpact: Company Overview
Figure 56 Genpact: Company Snapshot
Table 221 Genpact: Products/Solutions/Services Offered
Table 222 Genpact: Deals
12.1.9 Wipro
Table 223 Wipro: Company Overview
Figure 57 Wipro: Company Snapshot
Table 224 Wipro: Products/Solutions/Services Offered
Table 225 Wipro: Deals
12.1.10 Tech Mahindra
Table 226 Tech Mahindra: Company Overview
Figure 58 Tech Mahindra: Company Snapshot
Table 227 Tech Mahindra: Products/Solutions/Services Offered
Table 228 Tech Mahindra: Product Launches & Enhancements
Table 229 Tech Mahindra: Deals
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies
12.2 Other Key Players
12.2.1 Exl
12.2.2 Dxc Technology
12.2.3 Conduent
12.2.4 Infosys Bpm
12.2.5 Bizagi
12.2.6 Igrafx
12.2.7 Auraquantic
12.2.8 Pipefy
12.2.9 Cflow
12.2.10 Agilepoint
12.2.11 Workflowgen
12.2.12 Flokzu
12.2.13 Integrify
12.2.14 Linx
12.2.15 Quixy
13 Adjacent/Related Markets
13.1 Introduction
Table 230 Adjacent Markets and Forecasts
13.2 Limitations
13.3 BPaaS Market Ecosystem and Adjacent Markets
13.4 Business Process Automation Market
13.4.1 Business Process Automation Market, by Component
Table 231 Business Process Automation Market, by Component, 2016-2019 (USD Million)
Table 232 Business Process Automation Market, by Component, 2020-2026 (USD Million)
13.4.2 Business Process Automation Market, by Deployment Type
Table 233 Business Process Automation Market, by Deployment Type, 2016-2019 (USD Million)
Table 234 Business Process Automation Market, by Deployment Type, 2020-2026 (USD Million)
13.5 Business Process Management Market
13.5.1 Business Process Management Market, by Component
Table 235 Business Process Management Market, by Component, 2018-2025 (USD Million)
13.5.2 Business Process Management Market, by Business Function
Table 236 Business Process Management Market, by Business Function, 2018-2025 (USD Million)
14 Appendix
14.1 Discussion Guide
14.2 Knowledgestore: The Subscription Portal
14.3 Available Customizations

Companies Mentioned

  • Accenture
  • Capgemini
  • Cognizant
  • IBM
  • Hcl
  • Tcs
  • Fujitsu
  • Genpact
  • Wipro
  • Tech Mahindra
  • Exl
  • Dxc Technology
  • Conduent
  • Infosys Bpm
  • Bizagi
  • Igrafx
  • Auraquantic
  • Pipefy
  • Cflow
  • Agilepoint
  • Workflowgen
  • Flokzu
  • Integrify
  • Linx
  • Quixy

Table Information

Report AttributeDetails
No. of Pages246
PublishedMarch 2024
Forecast Period2023 - 2028
Estimated Market Value ( USD ) in 2023 $ 63.3 Billion
Forecasted Market Value ( USD ) by 2028 $ 92.2 Billion
Compound Annual Growth Rate8.0%
Regions CoveredGlobal
No. of Companies Mentioned25

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