Process Orchestration Market

The advancement in IT sector coupled with integration of technologies, such as ML, AI, and IoT, are the major factor contribute growing demand for the market

PORTLAND, PORTLAND, OR, UNITED STATE, August 8, 2022 /EINPresswire.com/ -- Rise in demand for optimum resource utilization, increase in cloud adoption across several industry verticals, and surge in demand for low cost process setup & automation drive the growth of the global cloud orchestration market. On the other hand, lack of IT infrastructure in underdeveloped nations and dearth of technical skills for effective cloud orchestration restrain the growth to some extent. However, increase IN demand for streamline business process among SMEs is anticipated to pave the way for lucrative opportunities in the industry.

According to the report published by Allied Market Research, the global cloud orchestration market was estimated at $14.98 billion in 2020 and is expected to hit $105.07 billion by 2030, registering a CAGR of 21.4% from 2021 to 2030.

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By cloud, the public segment contributed to the lion's share in 2020, holding nearly half of the global cloud orchestration market. This is owing to significant adoption of public cloud platforms across various verticals such as healthcare and media & entertainment. However, the hybrid segment is projected to manifest the fastest CAGR of 23.1% from 2021 to 2030.

By service type, the configuration segment held the major share in 2020, garnering nearly half of the global cloud orchestration market. This is due to the high level of cost savings on total cost of ownership and increase in need for optimum resources utilization by several user types including small, medium, and large enterprises. The cloud service segment, on the other hand, is projected to cite the fastest CAGR of 22.7% throughout the forecast period.

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By region, North America dominated in 2020, garnering nearly three-fifths of the global cloud orchestration industry. This is attributed to rise in the recognition of cloud orchestration across various verticals such as BFSI and Telecom in the region. The market across Asia-Pacific, however, is expected to cite the fastest CAGR of 24.9% throughout the forecast period, due to growing demand for advanced resource management systems and the workload shift toward the cloud environment.

Some of the key Process Orchestration industry players profiled in the report include BMC Software, Inc., CA Technologies, Cisco Systems, Inc., HCL Technologies Limited, Micro Focus, Oracle Corporation, SAP SE, ServiceNow, Inc., and TIBCO Software, Inc. This study includes market trends, Process Orchestration market analysis, and future estimations to determine the imminent investment pockets.

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COVID-19 Scenario

• Rise in remote working trend during the pandemic has given way to increase in demand for cloud orchestration, since it can provide necessary access to corporate resources to manage collaboration with integrated teams and maintain productivity. This, in turn, has impacted the global cloud orchestration market negatively.

• This trend is quite likely to continue post pandemic as well.

Key Findings of the Study

• By component, in 2021 the software segment dominated the Process Orchestration market size.

• Depending on deployment, the on-premise generated the highest revenue in 2021 of Process Orchestration market share. However, cloud segment is expected to exhibit significant growth during the forecast period.

• Region wise, the Process Orchestration industry was dominated by North America region in 2021. However, Asia-Pacific is expected to witness significant growth in the forecasted period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

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Allied Analytics LLP
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