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Market Trends

The escalating demand for digital database services in banks and other financial institutions to access information and remotely manage databases is one of the key factors driving the Business Process-as-a-Service (BPaaS) market. Besides this, the elevating need for technological solutions to enhance the operational efficiency, document management techniques, cost-effectiveness, etc., of the medium and large-sized enterprises is further catalyzing the market growth. Moreover, the integration of business analytics, advanced process automation software, artificial intelligence (AI), cloud computing, etc., to help in record keeping, derivative processing, reconciliations, etc., is augmenting the global market. Apart from this, the inflating requirement for automating business processes through remote delivery models is positively influencing the market growth. Furthermore, the launch of numerous initiatives by government bodies to improve data security, supply chain and human resource management, and finance-related operations is anticipated to fuel the Business Process-as-a-Service (BPaaS) market over the forecasted period.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

• Accenture plc

• Capgemini SE

• Cognizant

• Conduent Inc.

• Fujitsu Limited

• HCL Technologies Limited

• International Business Machines Corporation

• Oracle Corporation

• SAP SE

• Tata Consultancy Services Limited

• Tech Mahindra Limited

• Wipro Limited.

The report has segmented the market based on process, deployment mode, organization size and industry vertical.

Breakup by Process:

• Human Resource Management

• Accounting and Finance

• Sales and Marketing

• Supply Chain Management

• Digital Asset Management

• Others

Breakup by Deployment Mode:

• Private

• Public

• Hybrid

Breakup by Organization Size:

• Small and Medium-sized Enterprises

• Large Enterprises

Breakup by Industry Vertical:

• Banking Financial Services and Insurance

• Healthcare

• Government

• IT and Telecom

• Manufacturing and Retail

• Others

Breakup by Region:

• North America

• Asia-Pacific

• Europe

• Latin America

• Middle East and Africa

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