Business Process as a Service - Hungary

Revenue in the Business Process as a Service market is projected to reach US$72.94m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 13.65%, resulting in a market volume of US$138.30m by 2029.
The average spend per employee in the Business Process as a Service market is projected to reach US$14.48 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.

For more information on the data displayed, use the info button right next to the boxes.

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 (BPaaS) market in Hungary is experiencing mild growth within the Public Cloud market. This is influenced by factors such as the increasing adoption of digital solutions, growing awareness of the benefits of online services, and the convenience they offer.

Customer preferences: There has been a growing demand for Business Process as a Service (BPaaS) solutions in Hungary, driven by a shift towards digitalization and automation. This trend is particularly evident in the public sector, where there is a growing preference for cloud-based solutions to improve efficiency and reduce costs. As the country continues to modernize, there is a significant opportunity for BPaaS providers to cater to the specific needs of this market, such as the integration of local languages and compliance with local regulations.

Trends in the market: In Hungary, the Business Process as a Service Market within the Public Cloud Market is seeing an increasing adoption of automation technologies, with enterprises utilizing cloud-based solutions for streamlining business processes. This trend is driven by the need for cost efficiency and scalability, and it is expected to continue its upward trajectory in the coming years. As a result, industry stakeholders are investing in developing advanced BpaaS offerings to meet the growing demand. This trend also has significant implications for businesses, as it allows them to improve operational efficiency and focus on their core competencies while reducing costs. Additionally, the rising adoption of BpaaS in Hungary is expected to spur market growth and drive competition, ultimately benefiting the end-users with better services and pricing options.

Local special circumstances: In Hungary, the Business Process as a Service Market within the Public Cloud Market is heavily influenced by the country's small and medium-sized enterprise (SME) sector, which makes up the majority of the economy. This market segment has a strong demand for cost-effective and efficient cloud-based solutions, leading to the growth of the public cloud market. Additionally, the government's push for digital transformation and the country's favorable business environment have also contributed to the adoption of Business Process as a Service. However, the market is also constrained by the country's relatively low internet penetration rate and data privacy regulations.

Underlying macroeconomic factors: The Business Process as a Service Market within the Public Cloud Market in Hungary is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and overall business environment. Hungary has a robust economy with a high level of foreign investment and a strong focus on innovation and digital transformation. These factors have contributed to the growth of the public cloud market, including the Business Process as a Service segment. Additionally, Hungary's strategic location in Central Europe and its membership in the European Union provide favorable conditions for market growth and expansion. Furthermore, the increasing demand for cost-effective and efficient business processes has also driven the adoption of public cloud services, including Business Process as a Service.

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.