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The BPaaS Market is expected to experience significant growth in the coming years due to the compatibility of BPaaS-based solutions with emerging technologies such as AI, IoT, and analytics. This will drive the adoption of BPaaS among SMEs, enhancing accessibility and competitiveness. However, concerns around security and compliance and dependency on specific BPaaS providers may hinder market growth. Key players in the market include Accenture, Capgemini, Cognizant, IBM, HCL, TCS, Fujitsu, Genpact, Wipro, and Tech Mahindra.