SAN FRANCISCO, Sept. 2, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Business Process as a Service (BPaaS) – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 20; Released: April 2021
Executive Pool: 19438
Companies: 59 – Players covered include Accenture plc; ADP LLC.; Capgemini; Cognizant Technology Solutions; Computer Sciences Corporation; eBuilder Sweden AB; Fujitsu Limited; Genpact Limited; IBM Corp.; NGA Human Resources; Tata Consultancy Services Limited; Wipro Limited; WNS (Holdings) Limited and Others.
Coverage: All major geographies and key segments
Segments: Business Process (Accounting & Finance, Human Resource Management, Sales & Marketing, Customer Service & Support, Procurement & Supply Chain Management, Other Business Processes); End-Use (BFSI, Healthcare, IT & Telecom, Government, Ecommerce & Retail, Manufacturing, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Business Process as a Service (BPaaS) Market to Reach $65.6 Billion by 2026
Amid the COVID-19 crisis, the global market for Business Process as a Service (BPaaS) estimated at US$45.9 Billion in the year 2020, is projected to reach a revised size of US$65.6 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. Accounting & Finance, one of the segments analyzed in the report, is projected to record a 6.6% CAGR and reach US$19.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Human Resource Management segment is readjusted to a revised 5.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $13.3 Billion in 2021, While China is Forecast to Reach $13.6 Billion by 2026
The Business Process as a Service (BPaaS) market in the U.S. is estimated at US$13.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.6 Billion by the year 2026 trailing a CAGR of 9.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
Sales & Marketing Segment to Reach US$10.8 Billion by the year 2026
In the global Sales & Marketing segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.8 Billion in the year 2020 will reach a projected size of US$8.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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SOURCE Global Industry Analysts, Inc.