Business Process as a Service - Serbia

Revenue in the Business Process as a Service market is projected to reach US$48.66m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.28%, resulting in a market volume of US$94.85m by 2029.
The average spend per employee in the Business Process as a Service market is projected to reach US$14.98 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 Serbia is experiencing mild growth in the Public Cloud Market, driven by factors such as the increasing adoption of digital technologies and the convenience of online health services. This growth rate is impacted by a combination of factors, including the country's overall economic growth, government policies, and technological advancements.

Customer preferences: The rise of remote work and virtual collaboration has accelerated the adoption of Business Process as a Service within the Public Cloud Market in Serbia. As businesses look for cost-effective and agile solutions, BaaS has emerged as a key enabler of business continuity and digital transformation. This trend is also driven by the growing need for secure and scalable cloud-based technologies, which are essential for remote work and global connectivity.

Trends in the market: In Serbia, there is a growing trend of using Business Process as a Service (BPaaS) within the Public Cloud Market, as companies seek to streamline their operations and increase efficiency. This trend is expected to continue in the coming years, driven by the rising adoption of cloud technology and the need for cost-effective solutions. As a result, industry stakeholders can expect to see an increase in demand for BPaaS services, particularly from small and medium-sized enterprises. This trend also has implications for the IT sector, as it will create new opportunities for cloud service providers and software vendors. Additionally, it may lead to increased competition in the market, driving innovation and improvements in BPaaS offerings.

Local special circumstances: In Serbia, the Business Process as a Service Market within the Public Cloud Market is influenced by the country's efforts towards digital transformation and modernization. The government's push for e-governance and digitalization of public services has led to a growing demand for cloud-based solutions. Additionally, the country's strategic location at the crossroads of Europe and Asia, along with its favorable business environment, has made it an attractive destination for foreign investments and partnerships, further driving the growth of the market.

Underlying macroeconomic factors: The Business Process as a Service Market within the Public Cloud Market in Serbia is influenced by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. With the increasing adoption of cloud computing technologies and the government's focus on digital transformation, the market is expected to see significant growth. Additionally, the country's improving economic health and favorable business environment are attracting foreign investments and driving the demand for cloud-based solutions. Furthermore, the rising demand for cost-effective and efficient business processes is also contributing to the growth of the Business Process as a Service Market in Serbia.

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.