Global BPaaS Market to Amount to USD 68.76 Bn by 2022, Predicts M&M in Its Cutting-Edge Study Recently Added at MarketPublishers.com22 Dec 2017 • by Natalie Aster
LONDON – In 2017, the world’s business process as a service (BPaaS) market has reached USD 40.2 billion in value terms.
The elevating demand for business agility and a faster time-to-market together with rising need to comply with regulations are anticipated to fuel growth in the global BPaaS market in the foreseeable future. Between 2017 and 2022, the global BPaaS market is forecast to increase at a 11.3% CAGR to amount to the value of appr. USD 68.76 billion. Meantime, escalating concerns over data security could considerably hamper the BPaaS market growth.
Basing on business processes, the customer service and support segment is expected to rise at the highest pace through to 2022, as numerous organisations are seeking to transform their customer service operations by cutting the operational costs, whilst dynamically boosting the operations associated to smaller product life cycles.
As for regions, the BPaaS market is likely to see the highest CAGR in APAC during 2017-2022. This is attributed to uptake in BPaaS adoption (owing to its scalability, agility, efficient pay-per-usage and other benefits) and enhanced cloud infrastructure and security in the region. Meantime, North America is predicted to hold the biggest share of the world’s BPaaS market through to 2022, due to the presence of the leading BPaaS service providers, expanding globalisation of managed cloud services and high penetration of cloud computing in the region
The cutting-edge research study “BPaaS Market by Business Process, Organization Size, Vertical, and Region - Global Forecast to 2022” prepared by MarketsandMarkets (M&M) gives an all-round guide to the global BPaaS market, examines the market dynamics and the key influencing factors, sheds light on the current performance and prevailing trends across different geographies, and uncovers reliable historical and present market data and estimates. Besides, this study reviews the competitive landscape, contains info on the leading players, discusses the emerging growth opportunities and challenges, provides future forecasts up till 2022, etc.
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