Higher Demand for Reasonable BPM Solutions in the Global Public Cloud Business Process Services Market

According to Transparency Market Research (TMR), a global market intelligence company providing business information reports and services, the global public cloud business process services market has been predicted to register a huge demand until the end of 2022, on account of the need to enhance agility in business processes.

Furthermore, the need for cost control measures could add to this demand for public cloud business process services. This could play an important part in shaping the future of the market, along with cloud Business Process Management (BPM) solutions.

Both public cloud business process as a service (BPaaS) and cloud BPM have been anticipated to have a bright future across all major verticals while enjoying a lasting growth for years to come, TMR reports. One of the crucial factors sparking the growth of the market could be the rising demand for the virtualization and automation of workplaces.

As per the statistics from TMR, the global public cloud business process services market could reach a revenue of US$139.1 billion by the end of 2022 at a 21.7% CAGR (compound annual growth rate) between 2017 and 2022. In 2017, the market had scored a revenue of US$52.0 billion.

Major Insights

The global public business process services market has been predicted to receive a strong push in growth on the back of certain positive factors. For example, a large portion of business organizations have been demanding cost-effective BPM solutions to survive neck-to-neck competitions and competitors.

There has been a common growing trend of the deployment of cloud computing technology across the world, and in addition to that, automated outsourcing and software development have been conducted in full swing. These factors have been linked to work as growth catalysts for the market.

Authors of the global public business process services market report claim that the market could witness the supremacy taken over by Asia Pacific, except Japan. This region has been predicted to post a mammoth CAGR of 46.6%.

Even in respect of share, the regional market could win the race, putting behind major regions such as North America and Europe. Where Europe could rake in an average share in the market by 2022, North America has been expected to double its share from where it stood at in 2017.

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