|
Home | Submit Press Release | Advertise | Submit Website
(Hosting-NewsWire.com, June 18, 2018 ) The BPaaS market size is expected to grow from USD 40.20 Billion in 2017 to USD 68.76 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.3%. The major drivers of the BPaaS market include the growing need to comply with regulations, the focus on cost-effectiveness and lower Total Cost of Ownership (TCO), and the need for business agility and a faster time-to-market.
The scope of the report covers the BPaaS market analysis by business process, organization size, vertical, and region. The Human Resource Management (HRM) business process is expected to have the largest market share during the forecast period, owing to the need for updating the existing HRM systems in a sustainable model and the flexibility for operating the cloud-based HRM systems. The customer service and support business process is expected to grow at the highest CAGR during the forecast period, as organizations are seeking to transform their customer service operations by decreasing the operational costs, while dynamically scaling up the operations associated to smaller product life cycles.
Download PDF brochure - https://www.marketsandmarkets.com/pdfdownload.asp?id=986
The large enterprises segment is expected to have the largest market share during the forecast period, owing to the need to reduce the high Capital Expenditure (CAPEX) and Operating Expenditure (OPEX). Large enterprises have dedicated in-house IT resources and larger IT budgets to consider the adoption of the as-a-service model for their business processes. The Small and Medium-Sized Enterprises (SMEs) segment is expected to grow at the highest rate, owing to the high adoption of BPaaS solutions among the SMEs to gain operational efficiency and result in decreased CAPEX, desired outcomes, and improved business efficiency.
The Banking, Financial Services, and Insurance (BFSI) vertical is estimated to have the largest market share during the forecast period, owing to the adoption of cloud solutions, which has enhanced the focus on achieving competences and rebalancing the expenses on systems. The eCommerce and retail vertical is expected to grow at the highest rate, as BPaaS can help the small-sized and online retailers in improving their marketing, sales, and services’ and lowering the cost of ownership.
North America is expected to hold the largest market share, due to the presence of the top BPaaS service providers, the globalization of managed cloud services, and the high adoption rate of cloud computing in this region. Asia Pacific (APAC) is expected to witness the highest growth rate in the BPaaS market during the forecast period, due to the increased adoption of BPaaS, owing to its agility, scalability, and efficient pay-per-usage benefits, with an enhanced cloud infrastructure and security.
Know More About BPaaS Market - https://www.marketsandmarkets.com/Market-Reports/business-process-as-a-service-bpaas-market-986.html
The major factor that are expected to limit the growth of the BPaaS market includes the rising concern over data security. The major vendors profiled in the report include Accenture (Republic of Ireland), IBM (US), Capgemini (France), Cognizant (US), EXL (US), Fujitsu (Japan), Genpact (UK), HCL (India), TCS (India), and Wipro (India).
About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
MarketsandMarkets
Mr. Salgarkar
1-888-600-6441
sales@marketsandmarkets.com
Source: EmailWire.Com
Source: EmailWire.com
Submit press release on hosting | Submit your hosting website
|
|