Business Process as a Service - Worldwide

Revenue in the Business Process as a Service market is projected to reach US$74.29bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.64%, resulting in a market volume of US$128.80bn by 2029.
The average spend per employee in the Business Process as a Service market is projected to reach US$20.87 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 the Public Cloud market is experiencing moderate growth worldwide. This can be attributed to factors such as slow adoption of digital technologies and lack of awareness among consumers. The market is expected to grow at a subdued rate due to these factors.

Customer preferences: As businesses increasingly adopt cloud-based solutions, there is a growing demand for Business Process as a Service (BPaaS) offerings within the Public Cloud Market. This is driven by the need for cost-effective and efficient business processes, along with the flexibility and scalability of cloud-based solutions. Moreover, the rise of remote work and virtual collaboration has accelerated the adoption of BPaaS, as it allows for seamless and secure access to business processes from any location.

Trends in the market: In the Business Process as a Service Market within the Public Cloud Market, there is a noticeable trend towards the adoption of Robotic Process Automation (RPA) to streamline and automate business processes. This trend is expected to continue as RPA offers cost-effective and efficient solutions for organizations looking to improve their operations. Additionally, there is a growing focus on integrating artificial intelligence (AI) capabilities into these processes, providing further optimization and decision-making support. This trend is significant as it enables businesses to achieve greater productivity and agility, while also reducing human error and costs. However, it may also lead to job displacement and require upskilling for employees in affected industries.

Local special circumstances: In Japan, the Business Process as a Service Market within the Public Cloud Market is thriving due to the country's highly advanced technological infrastructure and strong government support for digital transformation. The market is also influenced by the unique business culture in Japan, which values efficiency and cost-effectiveness. Additionally, strict data protection laws and high standards for data security have also shaped the market dynamics, creating a demand for secure and compliant BaaS solutions.

Underlying macroeconomic factors: The growth of the Business Process as a Service Market within the Public Cloud Market is heavily influenced by macroeconomic factors such as the overall health of the global economy, national fiscal policies, and technological advancements. Countries with strong economic growth and supportive regulatory environments are experiencing a higher adoption of public cloud services, particularly in the business process outsourcing sector. Additionally, the increasing demand for cost-effective and scalable solutions is driving the growth of the Business Process as a Service Market within the Public Cloud Market, as organizations seek to optimize their operations and reduce overhead costs. Moreover, the ongoing trend of digital transformation and the need for businesses to stay competitive in the global market are also contributing to the growth of the Public Cloud Market and, in turn, the Business Process as a Service 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.