DALLAS, July 21, 2015 /PRNewswire/ --
According to a new market research report, "Operation Business Process as a Service (BPaaS) Market by Process (Order Management as a Service (OMaaS), SCM, Business Process Analytics, Digital Asset Management), Deployment (Hosted, On-Premise) - Global Forecast to 2020", published by MarketsandMarkets, This Operation Business Process as a Service (BPaaS) Market is estimated to grow from $27.76 Billion in 2015 to $47.45 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 11.5% from 2015 to 2020.
Browse 103 market data Tables and 99 Figures spread through 149 Pages and in-depth TOC on "Operation Business Process as a Service (BPaaS) Market"
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Operation Business Process as a Service (BPaaS) assists companies in outsourcing their operational activities. BPaaS is delivered based on a cloud services model, wherein the different cloud services include software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS). The global operation BPaaS market report defines and segments the operation BPaaS market with analysis and forecast of revenue. This market is estimated to grow from $27.76 Billion in 2015 to $47.45 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 11.5% from 2015 to 2020. BPaaS solutions bring various other benefits beyond cost effectiveness and ease of access. Operation business process as a service solutions combine traditional business process outsourcing (BPO) solutions with cloud computing technology to deliver value added business outcomes with limited IT infrastructure.
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North America contributed the largest share of the global operation BPaaS market in 2014, having accounted for a share of 55.0%. The high penetration rate in verticals, such as telecommunication, information technology, BFSI, manufacturing, and healthcare, among others, is among the key factors expected to drive the operation BPaaS market, globally. The exponential increase in the number of outsourcing activities carried on by many large organizations and use of BPaaS to support the operations in BPO are expected to further fuel the growth of the operation BPaaS market globally.
Many leading players across the globe are entering into partnership agreements with each other to gain a commendable position in the global market. Another key strategy adopted by the market players is acquisition, wherein the market players are acquiring companies who are leading providers of cloud, business process outsourcing, and BPaaS services.
The global Operation Business Process as a Service (BPaaS) Market is expected to grow from $27.76 Billion in 2015 to $47.45 Billion by 2020, at a CAGR of 11.5% during the forecast period of 2015 to 2020. The market is primarily driven by the development of automation, need for cost-effective business processes and software-driven outsourcing.
The report provides competitive benchmarking of the leading players in the market, such as Accenture, Capgemini, Cognizant, Genpact, IBM, Fujitsu, CSC, SAP, and so on in terms of product offerings, key strategies, and operational parameters. In addition to this, the report provides market trends, overall adoption scenarios, competitive landscape, key drivers, restraints, and opportunities in this market. Furthermore, the report aims at estimating the current size and future growth potential of this market across different applications, verticals, and regions.
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