Business Process as A Service (BPaaS) Market Analysis Share Size, Demand, Key Players and Explorer Growth Trends by Fore

Posted by Govind TMR on August 16th, 2022

The global Business Process as A Service (BPaaS) Market is a multibillion dollar opportunity for IT companies. The market is expected to be one of the top grossing segments for the IT industry in the next few years, expanding at a remarkable CAGR over the report’s forecast period.

BPaaS and cloud BPM refer to a business process layer on the top of cloud-based services such as infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS). These solutions offer enterprises with numerous advantages such as virtualized workplaces, transparency in business processes, informed decisions, flexibility, accelerated performance, simplified operations, and informed decisions. BPaaS and cloud BPM encompass business process service for vertical as well as horizontal business processes through a high featured platform to deliver automated business outcomes.

To avoid vendor locking and increase the cost effectiveness of the process execution, BPaaS and cloud BPM solutions are widely adopted to develop network among partners, employees, suppliers, distributors and other participants in a business module so as to deliver high value process outcome. The vast demand for these solutions across the globe is compelling an increasing number of IT companies to foray into the market and gain competitive advantage in the growing market. Companies are doing so by developing multi-purpose platforms capable of providing a complete range of solutions for all business processes.

Global Business Process as A Service (BPaaS) Market: Segmentation

The global Business Process as A Service (BPaaS) Market is segmented on the basis of criteria such as solutions, deployment model, service consumers, applications, and geography.

On the basis of solutions, the market is segmented into platform and services. On the basis of deployment model, the market is segmented into on-premise and hosted model. On the basis of service consumers, the market is segmented into enterprise and small- and medium-sized businesses (SMBs). On the basis of applications, the market is segmented into: retail, banking, financial services and insurance (BFSI), communication and technology, healthcare, government, supply chain and manufacturing, and consumer goods. Furthermore, the market is segmented on the basis of geography into North America, Europe, Asia-Pacific and Rest of the World (RoW).

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