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Global Business-Process-as-a-Service Market share 2019 will grow and hit 22.91% CAGR by 2024 | 360 Market Updates

Business-Process-as-a-Service

Business-Process-as-a-Service Market Report Title: “Business-Process-as-a-Service Market – Growth, Trends, and Forecast (2019 – 2024)

Business-Process-as-a-Service Market (2019 – 2024) report provides the accurate CAGR with complete market overview, list of key players, scope of the report, key market trends of Business-Process-as-a-Service market and main aspects about why should buy this research report.

Business-Process-as-a-Service Market Overview:

The business-process-as-a-service market is valued at USD 5.89 billion in 2018 and is expected to reach USD 20.22 billion by 2024 and is expected to witness a growth of 22.91% during the forecast period 2019 – 2024. The increasing integration of robotic process automation (RPA) and the Internet of Things (IoT), with BPaaS, is a trend that aids in the growth of the market.

– Business-process-as-a-service (BPaaS) has primarily risen as a cost-effective alternative for businesses, basically to optimize their services and focus on their core competencies, while outsourcing other functions like finance and accounting, supply chain management, and other commodity services.
– The demand for business process management is increasing at a robust rate across the world, due to the emergence of advanced technologies, such as artificial intelligence, machine learning, and other intelligence solutions.
– BPaaS delivery model presents significantly greater utility through the vertical integration of technology infrastructure, proprietary software applications, and people for the business-process services delivery.
– Businesses can eliminate the need for multiple vendor relationships to work for the company, which reduces the switching costs across the delivery life cycle and helps in realizing the value drivers of economies of scale and scope.

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List of Key-players/Leading Manufacturers:

  • SAP SE
  • IBM Corporation
  • OpenText Corporation
  • Pegasystems Inc.
  • Software AG
  • Tibco Software Inc.
  • Fujitsu Ltd
  • Oracle Corporation
  • Cognizant Technology Solutions Corporation
  • Capgemini SE

    Scope of the Business-Process-as-a-Service Market Report:

    Business-process-as-a-service (BPaaS) is a term defined for a specific type of web-delivered or cloud hosting solutions that benefits an enterprise by assisting with business operations. BPaaS basically means that the business process is being automated through a remote delivery model.

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    Key Trends Of Business-Process-as-a-Service Market:

    Reduction of Operational Costs and Productivity Improvement to Drive the Market

    – Business-process-as-a-service (BPaaS) provides executable business processes to the clients over the internet, because of which it is increasingly being adopted by companies across the globe.
    – BPaaS presents the opportunity to use cloud software on a pay-per-use model to an enterprise, instead of having to invest in costly hardware and incur maintenance cost, which decreases the overall operational costs significantly when compared to the conventional methods.
    – Companies have also deployed BPaaS solution because of its increased mobility, as a company can access the solution from any geographical location.
    – This solution provides enterprises with the opportunity to grow and expand at a much faster rate without incurring considerable infrastructural costs while improving the productivity of the enterprise.
    – With the rapidly growing market for business process management and also the companies around the globe constantly improving their IT infrastructures, it is expected that these factors will boost the demand for BPaaS market.

    North America Occupies the Largest Market Share

    – The North American region is expected to occupy the largest market share in the forecast period, as several end-user organizations (both small and large-scale) are skewing towards the usage of technology to optimize business processes.
    – Moreover, there is an effort to build a cost-effective infrastructure and also increase the flexibility of the systems to comply with the modern business environment. This coupled with the increased adoption of BPaaS solutions in industries, such as healthcare, telecom, BFSI, transportation and logistics, retail, and utilities, are driving the market growth in the region.
    – Small businesses are considered to be the backbone of the US economy, as they have created around two-thirds of new jobs over recent times. Owing to the stronger sales growth, improved profitability, and positive hiring trends, the SMEs are expected to increase during the forecast period, thereby, directly pushing the BPaaS market forward.

    Reasons to Purchase Business-Process-as-a-Service Market Report:

    • The report analyses how the stringent emission control norms will drive the global Business-Process-as-a-Service market.
    • Analysing various perspectives of the market with the help of Porter’s five forces analysis.
    • Study on the product type that is expected to dominate the market.
    • Study on the regions that are expected to witness fastest growth during the forecast period.
    • Identify the latest developments, market shares and strategies employed by the major Business-Process-as-a-Service market players.
    • 3 months’ analyst support along with the Market Estimate sheet (in excel).

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    Overview of TOC, what it contains? – 

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY
    3.1 Market Overview

    4 MARKET DYNAMICS
    4.1 Market Drivers
    4.2 Market Restraints
    4.3 Porter’s Five Forces Analysis
    4.3.1 Threat of New Entrants
    4.3.2 Bargaining Power of Buyers/Consumers
    4.3.3 Bargaining Power of Suppliers
    4.3.4 Threat of Substitute Products
    4.3.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 Product Type
    5.2 Distribution Channel

    6 COMPETITIVE LANDSCAPE
    6.1 Market Share Analysis
    6.2 Most Active Companies
    6.3 Most Adopted Strategy
    6.4 Company Profiles

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

    “We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”

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