Business Process as a Service - Thailand

Revenue in the Business Process as a Service market is projected to reach US$225.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.85%, resulting in a market volume of US$412.50m by 2029.
The average spend per employee in the Business Process as a Service market is projected to reach US$5.60 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 Public Cloud Market in Thailand is witnessing mild growth, driven by factors such as increasing adoption of Business Process as a Service, rising awareness of digital technologies, and the convenience of online services. This growth rate is impacted by the country's growing economy and advancements in technology infrastructure.

Customer preferences: With the increasing adoption of cloud-based solutions in the public sector, there has been a rise in demand for Business Process as a Service (BPaaS) in Thailand. This trend is driven by the government's focus on driving efficiency and cost savings in public services. Additionally, the growing availability of high-speed internet and the younger demographic's preference for online services have further fueled the growth of BPaaS in the country. This shift towards digital solutions is expected to continue as Thailand continues to embrace digital transformation in the public sector.

Trends in the market: In Thailand, the Business Process as a Service Market within the Public Cloud Market is experiencing a surge in demand for cloud-based solutions as companies look to streamline their operations and reduce costs. This trend is expected to continue, with a particular focus on industries such as banking, manufacturing, and healthcare. As more businesses adopt cloud-based services, there is a growing need for data security and privacy measures to protect sensitive information. This presents opportunities for cybersecurity firms and data protection services. Additionally, there is a shift towards hybrid cloud solutions, where companies use a combination of public and private clouds for their business processes. This trend allows for greater flexibility and scalability, but also poses challenges in terms of data integration and management. Industry stakeholders must adapt to these trends and provide innovative solutions to stay competitive in the market.

Local special circumstances: In Thailand, the Business Process as a Service Market within the Public Cloud Market is heavily influenced by the country's rapid digital transformation and the government's push for digitalization. The market is also driven by the country's growing middle class and their demand for efficient and cost-effective business solutions. Additionally, Thailand's unique geographical location and its role as a major business hub in Southeast Asia make it an attractive market for cloud service providers. Furthermore, the country's strong cultural emphasis on relationships and trust plays a significant role in the adoption of cloud-based business solutions among local companies.

Underlying macroeconomic factors: The Business Process as a Service Market within the Public Cloud Market in Thailand is greatly affected by macroeconomic factors such as the country's economic stability, government policies, and investment climate. With a strong and growing economy, favorable regulatory environment, and increasing investment in digital technologies, Thailand is experiencing a rapid growth in the adoption of Business Process as a Service solutions. Additionally, the increasing demand for efficient and cost-effective business processes in the public sector, coupled with the government's push towards digitalization, is further driving the growth of the market.

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.