The global BPaaS market was valued at 39.2 billion USD in 2018 and is forecasted to grow at a CAGR of 10.04% to reach 76.58 billion USD by 2025. A majority of the revenue is funded by the banking, financial services and insurance segment. This is majorly because of a rapid growth in internet users, and hence, the customer base. The low investment costs in banking, insurance industries and capital market will drive the BPaaS market forward. Healthcare industries have also shown an increasing affinity towards cloud services, thanks to their high reliability and scalability. The BPaaS market will grow in any region where service-centric business grow. North America is one such area, where, owing to a demand for cost effective cloud infrastructure and fast network accessibility, the BPaaS market can dictate. Developing countries such as China, Australia, Brazil and India have enhanced their growth. Participants of industry are focusing on making their portfolios stronger to make sure that cloud deployment for BPO services in markets like Latin America, Africa and the Middle East are effective.
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The BPaaS market is expected to be driven by a swell in cloud adoption across industry verticals like retail, manufacturing, government, healthcare, education, etc. Bulging markets such as Europe and Asia-Pacific, with use of Internet of Things (IoT) and demand for cost effective IT groundwork will drive growth in the market. There is a growing need to fall in line with regulations and to reduce
CAPEX and OPEX. BPaaS technologies offer ways to tackle this as well as provide business agility and increase Time-to-Market. However, concerns with data security, cautious approach of higher management, and outages and third party dependence could hamper growth.
Industry Structure and Updates
The large enterprises segment is expected to have the largest market share during the forecast period Advent of Blockchain technology decreases security risks associated with BPaaS.
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Global BPaaS Market – by Industry Vertical, Deployment Model, Application, Region, and Vendors – Market Size, Demand Forecasts, Industry Trends and Updates, Supplier Market Shares (2018 – 2025)
1. Research Methodology
2. Executive Summary
3. Market Overview
3.1. Market Definition
3.2. Industry Value Chain Analysis
3.3. Porter’s 5 Forces
3.4. Industry Regulations / Policies
4. Market Dynamics
8. BPaaS Market Segmentation, Forecasts and Trends – by Region
8.1. North America
8.3. Asia Pacific
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