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Process Orchestration Market is Expected to Reach USD 11.76 Billion By 2027

Reports And Data

Reports And Data

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NEW YORK, NY, UNITED STATES, January 28, 2022 /EINPresswire.com/ -- The rise in demand for optimum resource utilization, digital transformation among end-user industries, and enhanced IT systems for catering to changing customer preference are boosting the process orchestration market

The global process orchestration market is forecast to reach USD 11.76 Billion by 2027, according to a new report by Reports and Data. The process orchestration market is projected to witness significant growth during the forecast period. Integration of factors like the rise in demand for optimum resource utilization, digital transformation among end-user industries, and enhanced IT systems for catering to changing customer preference are propelling the growth of the market. The expansion of the market is also attributed to various advantages associated with process orchestration. One of this mentionable benefit is, it empowers organizations by providing them with the necessary support in effectively planning of the business process. It is also useful for organizations in enhancing their operational effectiveness and simplify business processes. Process orchestration further helps these organizations to effectively utilize their IT systems for catering to the changing requirements of customers. The mentioned benefits of process orchestration have resulted in its increased incorporation in the functioning of different end-user industries, propelling the growth of the market.

In addition to the above specified factors, the growth of the market is also attributed to increased deployment of business solutions by enterprises to use IT systems in an enhanced manner and minimize their operational cost. The rise in adoption of business process automation technology by organizations to enhance their efficiency level, increases the scope of application of process orchestration, which contributes to the expansion of the market. 

In regards to region, Europe occupies a dominant market share in the process orchestration market. The market share held by this region is attributed to the presence of well-established information system providers and software firms in this region.

Key participants include Oracle, SAP, IBM, Fujitsu, Cisco, CA Technologies, HCL, Micro Focus, Wipro, and BMC Software.

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Further key findings from the report suggest

• Process orchestration market held a market share of USD 3.94 Billion in the year 2019, with a growth rate of 15.8% during the forecast period.
• In context to Component, the Solutions segment generated a higher revenue of USD 0.15 Billion in 2018, with a CAGR of 3.1% during the forecast period. Factors like the effectiveness of process orchestration solutions in helping organizations to minimize their resources and costs, along with reducing the business risks, contribute to the revenue generated by this segment.
• In regards to Organization size, it has been segmented into Large Enterprises and Small and Medium-Sized Enterprises. Between these two segments, the Large enterprise segment is leading the market that occupied a larger market share of 76.0% in 2018, with a growth rate of 14.9% during the forecast period. The market share that this segment occupies, is the result of high work pressure, and the complexity of organizational functioning that makes process orchestration highly relevant and widely used in this segment.
• While discussing Organization size, it is mentionable that, the Small and Medium enterprise segment is forecasted to witness a faster CAGR of 18.6% during the forecast period, which is expected to hold 29.0% of the market by 2026. The growth rate of this segment is attributed to elevating need of minimizing operational costs and updating business processes that results in increasing application of process orchestration in this segment.
• In the context of Deployment Type, the On-premises segment yielded a higher revenue of USD 2.49 Billion in 2018, with a CAGR of 14.8% during the forecast period. The revenue generated by this segment is the result of its various benefits like enhanced process control in this type of deployment, availability of data on-demand, and easy accessibility to project-critical information.
• In regards to Business function, the Supply Chain Management and Order Fulfillment segment holds the largest market share of 42.0% in 2018, with a growth rate of 16.0% during the forecast period. The market share that this segment occupies, is the result of the global expansion of end-users, the associated need for dealing with supply chain complexities and enhance it further. Herein, process orchestration helps organizations in providing with enhanced customer experience, which results in increased incorporation of process orchestration in this segment, contributing to its market share.
• In regards to region, Asia Pacific is projected to witness the fastest growth rate of 17.2% during the forecast period. Factors like rapid digitalization, and rise in adoption of cloud-based technologies contribute to the region's growth rate.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/process-orchestration-market

For the purpose of this report, Reports and Data have segmented the global process orchestration market according to Component, Organization Size, Deployment Type, Business Function, End-users, and Region:

Component Type Outlook (Revenue, USD Billion; 2020-2027)

• Solutions
• Services

Organization size Type Outlook (Revenue, USD Billion; 2020-2027)

• Large Enterprises
• Small and Medium-Sized Enterprises

Deployment Type Outlook (Revenue, USD Billion; 2020-2027)

• On-premises
• Cloud

Business Function Type Outlook (Revenue, USD Billion; 2020-2027)

• Human Resource Management
• Supply Chain Management and Order Fulfillment
• Marketing
• Customer Service and Support
• Finance and Accounting

End-users Type Outlook (Revenue, USD Billion; 2020-2027)

• Manufacturing
• IT & Telecommunication
• Banking, Financial Services, and Insurance [BFSI]
• Transportation and Logistics
• Media and Entertainment
• Consumer Goods and Retail
• Energy and Utilities
• Others

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Regional Outlook (Revenue, USD Billion; 2020-2027)

• North America
• Europe
• Asia Pacific
• MEA
• Latin America

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Tushar Rajput
Reports and Data
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