Business Process as a Service - Estonia

Revenue in the Business Process as a Service market is projected to reach US$16.21m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.38%, resulting in a market volume of US$29.06m by 2029.
The average spend per employee in the Business Process as a Service market is projected to reach US$21.48 in 2024.
In global comparison, most revenue will be generated United States (US$27.06bn in 2024).

Definition:

Business Process as a Service (BPaaS) refers to the type of public cloud service that provides a comprehensive suite of cloud-based solutions designed to streamline and optimize various business processes. BPaaS providers offer a range of services, such as finance and accounting, human resources, customer service, and supply chain management, all delivered through the cloud. The BPaaS market includes the companies that provide these types of public cloud resources and services to individuals, businesses, and organizations. A typical example of this type of service is Accenture BpaaS.

Additional Information:

The Business Process as a Service (BPaaS) market comprises revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in the BPaaS market include companies such as Accenture, IBM, Genpact, Deloitte, and Capgemini.

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Payroll processing services, such as ADP Workforce Now, Paychex, and Gusto
Human resources (HR) functions, such as Workday, Oracle HCM Cloud, and BambooHR
Customer relationship management (CRM) services, such as Salesforce, Microsoft Dynamics 365 CRM, and Zoho CRM
Accounting and finance services, such as Intuit QuickBooks Online, Xero, and FreshBooks
Procurement and supply chain management (SCM) solutions, such as Oracle SCM Cloud, SAP Integrated Business Planning (IBP), and Kinaxis RapidResponse

Enterprise software, such as SAP ERP, Oracle Database, and Microsoft SharePoint
Productivity software, such as Microsoft 365, Google Workspace, and Adobe Creative Suite
Private cloud services, such as VMware vCloud Suite, Microsoft Azure Stack HCI, and IBM Cloud Private
Physical data centers, such as those operated by Equinix, Digital Realty, or local providers

The Business Process as a Service Market in Estonia's Public Cloud Market is experiencing mild growth, driven by factors such as increasing digitalization, growing awareness of the benefits of online services, and the convenience of cloud-based solutions. This growth rate is impacted by the country's focus on digital transformation and the government's efforts to promote the use of cloud services.

Customer preferences: The Business Process as a Service Market within the Public Cloud Market in Estonia is witnessing a growing demand for cloud-based collaboration and communication tools, as remote work becomes more prevalent. This trend is driven by a shift in consumer preferences towards flexible work arrangements and increased reliance on virtual solutions for project management and team collaboration. Moreover, the emergence of a young and tech-savvy workforce in Estonia is further fueling the demand for digital tools and solutions in the business process outsourcing industry.

Trends in the market: In Estonia, the Business Process as a Service Market within the Public Cloud Market is experiencing a surge in demand for cloud-based solutions, as companies seek to streamline operations and reduce costs. This trend is expected to continue, with projections showing a steady increase in adoption over the next few years. This shift towards cloud-based BaaS is significant for industry stakeholders, as it offers increased flexibility, scalability, and cost-effectiveness. It also presents opportunities for service providers to offer more specialized and customized solutions to meet the unique needs of businesses. As the market continues to grow, it is likely to drive innovation and competition, ultimately benefiting businesses and the overall economy.

Local special circumstances: In Estonia, the Business Process as a Service Market within the Public Cloud Market is influenced by the country's advanced digital infrastructure and tech-savvy population. The government's support for digital transformation has led to a high adoption rate of cloud-based services, creating a favorable environment for the growth of the market. Additionally, Estonia's small size and close-knit business community foster a collaborative and innovative business culture, making it an ideal location for BaaS companies to thrive.

Underlying macroeconomic factors: The growth of the Business Process as a Service Market within the Public Cloud Market in Estonia is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with favorable business environments and strong investment in cloud technology are experiencing faster market growth compared to regions with regulatory challenges and limited funding for digital services. Additionally, the increasing adoption of digital solutions by businesses and the growing demand for cost-effective solutions are driving the demand for Business Process as a Service within the Public Cloud Market in Estonia.

Data coverage:

The data encompasses B2B and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP and level of telecommunications infrastructure.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Together with platform as a service (PaaS) and infrastructure as a service (IaaS), software as a service (SaaS) is one of the three primary tiers of cloud computing. It allows businesses to redirect resources away from IT hardware, software, and personnel expenses, and towards other business needs. Currently, the most prominent companies in the SaaS market are Microsoft, Salesforce, Oracle, SAP, and Google.