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International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Business Process-as-a-Service (BPaaS) Market Research Report 2023-2028:

According to the latest report by IMARC Group, titled "BusinessProcess-as-a-Service(BPaaS )Market:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast2023-2028 ," the global business process-as-a-service (BPaaS) market size reached US$ 60.8 Billion in 2022.

Business process-as-a-service (BPaaS) refers to a software model that is widely used by multiple industries for outsourcing various business sites. It is a business process outsourcing (BPO) solution that is usually connected through cloud-based platforms or the web for offering a high-quality technological solution to the business. It generally covers the vertically integrated components of database, hardware components, optimized processes and the middleware and business application software. Some of the popular BPaaS platforms include IBM Blueworks Live and Google Adsense, which can either be used on a subscription or consumption basis. As a result, it helps business professionals to focus on core activities while improving the productivity and efficiency of the organization in a cost-efficient manner.

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Global Business Process-as-a-Service (BPaaS) Market Trends:

The global market is primarily driven by a considerable increase in data generation across multiple industries. Moreover, rapid digitization on the global level has encouraged numerous businesses to heavily invest in the deployment of BPaaS platforms, which is creating a positive outlook for the market. Furthermore, the widespread adoption of the work-from-home (WFH) model in the corporate sector as a consequence of the rapid outbreak of coronavirus disease (COVID-19) has further propelled the market growth. Also, due to the rising incidences of data thefts and cybercrime activities across the globe, there has been a considerable rise in the uptake of the BPaaS model across businesses.

In addition to this, various technological advancements and the widespread integration of the Internet of Things (IoT) and robotic process automation (RPA) with BPaas solutions are providing a boost to the market growth. Other factors, including significant improvements in the information technology (IT) sector, continuous innovations in the service solution, intensive business competition and extensive research and development (R&D) activities conducted by key players, are further contributing to the market growth.