Business Process as a Service - Greece

Revenue in the Business Process as a Service market is projected to reach US$119.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.09%, resulting in a market volume of US$192.60m by 2029.
The average spend per employee in the Business Process as a Service market is projected to reach US$24.66 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 Greece, within the Public Cloud Market, is experiencing mild growth. Factors such as increasing adoption of cloud technologies and rising demand for efficient business processes are impacting the market's growth rate. Additionally, the convenience and cost-effectiveness offered by cloud-based services are driving the market forward.

Customer preferences: The Business Process as a Service Market within the Public Cloud Market is experiencing a significant increase in demand for cloud-based solutions, driven by the need for efficient and cost-effective business processes. This trend is further amplified by the cultural value placed on efficiency and productivity in Greece, as well as the growing number of small and medium-sized businesses in the country. Additionally, the increasing adoption of remote work and a digital-first mindset has led to a rise in demand for cloud-based solutions, as businesses seek to streamline their operations and stay competitive in the market.

Trends in the market: In Greece, the Business Process as a Service (BPaaS) market within the Public Cloud market is experiencing a surge in demand for cloud-based solutions, as organizations look to streamline their operations and cut costs. This trend is expected to continue, with BPaaS projected to grow at a compound annual growth rate of 11.7% from 2021 to 2026. This shift towards cloud-based BPaaS solutions offers significant benefits, including increased flexibility, scalability, and efficiency. It also presents opportunities for industry stakeholders to capitalize on this growing market and offer innovative solutions to meet the evolving needs of businesses in Greece. Additionally, the adoption of BPaaS is expected to have a positive impact on the Greek economy, driving growth and creating new job opportunities in the technology sector.

Local special circumstances: In Greece, the Business Process as a Service Market within the Public Cloud Market is influenced by the country's economic crisis and its impact on businesses. The need for cost-effective solutions has led to a surge in demand for cloud-based services, as companies look to reduce their operational costs. Additionally, Greece's location at the crossroads of Europe and the Middle East makes it a strategic hub for cloud services, as it provides easy access to emerging markets. The country's cultural emphasis on relationships and personal connections also plays a role in the market, as Greek businesses prioritize trusted partnerships with service providers.

Underlying macroeconomic factors: The Business Process as a Service Market within the Public Cloud Market in Greece is heavily influenced by macroeconomic factors such as the country's economic health, fiscal policies, and global economic trends. Greece has faced significant economic challenges in recent years, including high unemployment rates and a large national debt. However, the country has also implemented fiscal reforms and received financial support from the European Union, which has helped stabilize its economy. Additionally, Greece has a strong focus on promoting digital transformation and has invested in improving its digital infrastructure, creating a favorable environment for the growth of the Business Process as a Service Market within the Public Cloud Market. The increasing adoption of cloud-based solutions in both the public and private sectors is also driving the demand for Business Process as a Service in Greece, as organizations seek to improve efficiency and reduce costs.

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.