Business Process-as-a-Service (BPaaS) Market To Reach USD 120.70 Billion By 2026 Growing at a CAGR of 12.6% – Weather News Point

Business Process-as-a-Service Market Size was USD 46.38 Billion in 2018 and BPaaS Marketis forecast to reach USD 120.70 Billion by 2026 Growing at a CAGR of 12.6%.

Business Process-as-a-Service (BPaaS) refers to the web-delivered or the cloud hosting models, delivered by the business process outsourcing (BPO) companies and serve multiple tenants across most of the industry verticals. The delivered functions might derive from any of cloud-based Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Services (IaaS) models in general.

The global business process-as-a-service (BPaaS) market is growing predominantly as all the industries are slowly moving towards adopting the cloud-based on-demand BPaaS models. BPaaS, has, in turn, made the traditional process of outsourcing models more flexible, clean, accessible, and affordable by lowering down the up-front additional investment costs. Operation & finance management processes sub-segments in the business application has the highest usage rate and also is calculated to achieve the highest growth rate. The mBPM solutions would like to facilitate and also drive the market broadly.

Key participants include Microsoft Corporation, Tata Consultancy Service, HCL Technologies, Genpact, Accenture plc, Wipro, IBM Corporation, Oracle, Concentrix, and Infosys BPM.

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APAC is forecasted to achieve the fastest growth of about 17.8% in the period 2019 2026, due to an increase in the adoption of the cloud-based back-end business and financial process serviced from the BPOs in both the SMEs and large enterprises across all the industry verticals in the countries like China, Singapore, and India. North America holds the highest market share of about 37.8% in 2018 because of the prodigious rate of adoption and improvisation of the influential business process verticals, especially in the conglomerates.

For the purpose of this report, Reports and Data have segmented the global business process-as-a-service (BPaaS) market on the basis of the business application, component, organization size, end-use industries, and region:

Business Application Outlook (Revenue: USD Billion; 2016-2026)

Component Outlook (Revenue: USD Billion; 2016-2026)

Organization Size Outlook (Revenue: USD Billion; 2016-2026)

End-Use Industries Outlook (Revenue: USD Billion; 2016-2026)

Regional Outlook (Revenue: USD Billion; 2016-2026)

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Further key findings from the report suggest

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Business Process-as-a-Service (BPaaS) Market To Reach USD 120.70 Billion By 2026 Growing at a CAGR of 12.6% - Weather News Point

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