Business Process Management as a Service (BPMaaS) Market size was estimated at $XX billion in 2020 and is expected to reach $XX million by 2028, growing at a CAGR of XX% during the forecast period of 2021 to 2028.
Business Process Management as a Service (BPMaaS) Market
Business Process Management as a Service (BPMaaS) is a combination of Software as a Service (SaaS) and Platform as a Service (PaaS). BPMaaS provides cloud-based platforms to optimize business process management effectively. Business Process Management as a Service (BPMaaS) assists organizations in performing business operations more efficiently with advanced business tools and automation techniques. The service is widely used in the BFSI industry vertical to improve operational efficiency and compliance management.
The service providers of the business process management as a service (BPMaaS) offer designing, implementation, and optimization services to different industries as subscription-based cloud services. The application of advanced technologies such as Artificial Intelligence (AI), Big Data, and Robotic Process Automation (RPA) are compelling the growth of the Business Process Management as a Service (BPMaaS) market.
However, the covid19 pandemic adversely affected many countries resulting in the global economic slowdown. Most small & medium-sized enterprises are decreasing the adoption of new technologies and services due to high initial investments and budget constraints. Some of the companies closed their operations due to a lack of funds to maintain the business. Hence, the business process management as a service (BPMaaS) market is retarding during the lockdown but can expect to grow after the pandemic settles down. The growth is accredited with the demand for cloud-based solutions and services is increasing perpetually in the commercial sectors.
Business Process Management as a Service (BPMaaS) Market Growth and Trend
The business process management service providers offer BPMaaS services in integration with the most advanced technologies allowing end-users to digitalize their business process with next-generation business solutions. The advantages associated with the adoption of cloud-based managed services by commercial sectors are significantly driving the growth of the global business process management as a service (BPMaaS) market. Moreover, the adoption of these technologies in process automation is estimated to generate productivity and efficiency in business process management. But small & medium enterprises are expected to hinder the growth of the business process management as a service (BPMaaS) market due to heavy initial investments in these services.
Business Process Management as a Service (BPMaaS) Market Segmentation
The business process management as a service (BPMaaS) market is segmented by deployment, and industry vertical. Based on deployment, the market is segmented into on-premises and cloud-based systems. The cloud-based system segment is expanding owing to the technological advancements and emergence of Artificial Intelligence (AI) and machine learning technologies. Based on industry vertical, the market is divided into BFSI, IT & Telecom, Manufacturing & Automobile, healthcare, and others.
Business Process Management as a Service (BPMaaS) Market Country Analysis
North America is likely to dominate the overall market growth during the forecast time frame due to major players in the region. The regional growth can also be attributed to the early adoption of advanced technologies and services by numerous businesses. Moreover, with the massive awareness about the benefits of business process management as a service (BPMaaS) in the commercial sectors in developing countries like India, China, and Japan in the Asia Pacific region is predicted to witness growth at a higher CAGR.
Business Process Management as a Service (BPMaaS) Market Share and Competition
The major players operating in the global business process management as a service (BPMaaS) are Accenture PLC, IBM Corporation, Pegasystems Inc, SAP SE, BP Logix Inc., OpenText Corporation, and Software AG.
Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Deployment Analysis (Revenue, USD Million, 2021 - 2028)
• On-Premises
• Cloud-based
Industry Vertical Analysis (Revenue, USD Million, 2021 - 2028)
• BFSI
• IT & Telecom
• Manufacturing & Automobile
• Healthcare
• Others
Region Analysis (Revenue, USD Million, 2021 – 2028)
• North America
• United States
• Canada
• Mexico
• South America
• Europe
• France
• Germany
• Italy
• Spain
• United Kingdom
• Austria
• the Asia Pacific
• Russia
• China
• Japan
• India
• Philippines
• Malaysia
• Australia
• South Korea
• Middle East
• GCC Countries
• South Korea
• South Africa
• Rest of World
Business Process Management as a Service (BPMaaS) Market Companies
• Accenture PLC
• IBM Corporation
• Pegasystems Inc
• SAP SE
• BP Logix Inc.
• OpenText Corporation
• Software AG
Available Versions
• United States Business Process Management as a Service (BPMaaS) Industry Research Report
• Europe Business Process Management as a Service (BPMaaS) Industry Research Report
• Asia Pacific Business Process Management as a Service (BPMaaS) Industry Research Report
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