The Global Process Orchestration Market size is expected to reach $12.6 billion by 2028, rising at a market growth of 17.2% CAGR during the forecast period

The Global Process Orchestration Market size is expected to reach .6 billion by 2028, rising at a market growth of 17.2% CAGR during the forecast period

ReportLinker

Process orchestration is a framework used for creating unique workflow operations that enable the orchestration of various business activities across people, processes, and technology. It offers a platform that enables business and IT specialists to collaborate, track business process applications, and securely communicate data.

New York, Aug. 18, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Process Orchestration Market Size, Share & Industry Trends Analysis Report By Component, By Vertical, By Organization size, By Deployment Model,By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06315045/?utm_source=GNW
This platform supports business operations in an efficient manner. Additionally, it is well known to improve corporate operations’ efficiency. The choice of such platforms has decreased production costs, improved the value chain, and improved an organization’s overall operations.

Using web-based services to manage business processes is known as business process orchestration. This procedure helps to shape the direction of business process management and has the potential to alter how companies and information technology interact. Business process orchestration is often referred as workflow orchestration or service instrumentation. It gives comprehensive information on the limitations as well as the occurrence process and a structure for the company’s internal control flow.

Some of the factors driving the growth of the process orchestration market include the rise in the adoption of business process automation technologies by companies to enhance the efficiency and quality of operational processes and interactions with other companies & customers as they engage in e-business transactions. The market is expanding due to the increased deployment of adequate business solutions by enterprises to save operational costs and effectively use their IT resources.

IT can automate specific activities with traditional automation technologies. Native task schedulers, custom scripting, RPA tools, and business process management tools are typical examples. Automated processes can be planned, carried out on-demand, or started by a relevant business or IT events. Although many process orchestration tools are actually automation tools, they offer the same functionality with a few key distinctions.

COVID-19 Impact Analysis

Lockdown protocols were put in place in numerous nations as a result of the Covid-19 outbreak. This in turn encouraged companies and organizations to adopt a culture of remote, or work from home, employment. This increased the use of process orchestration tools to increase company agility. Every corporation and business have been forced by the pandemic to move their business operations toward a virtual and remote work environment. Due to the critical circumstances, businesses started implementing process orchestration solutions for increased productivity and business agility. Every corporation and business were compelled by the pandemic to move their business operations toward a remote work environment.

Market Growth Factors

The Rapid Spread Of Digital Transformation

In the modern era, there is a rapid spread of digitalization all over the world. Businesses are increasingly transforming their manual processes into advanced and automated processes. In order to comply with the widespread digitalization, various companies are rapidly undergoing digital transformation. Businesses are significantly investing in digital transformation as an effort to meet the rapidly evolving and increasing customer requirements because developing technologies are continually changing those expectations. Adopting automation technology to better corporate operations and decision-making is the core of digital transformation.

Optimizes The Utilization Of Resources

Businesses are focusing on making the best use of their available resources, including storage, processing power, and technical resources. Process orchestration offers managed and professional services, as well as cloud orchestration services, allowing businesses to work on diverse processes, such as other real-time projects, simultaneously. Process orchestration thereby provides optimal use of resources of a company. Additionally, pay-per-use flexibility and streamlined optimization make organizations more productive. Additionally, knowing what resources are available and completing them when necessary for the project is essential for controlling expenses and ensuring the success of project operations. It has substantial advantages for all businesses and organizations.

Market Restraining Factors

Can Degrade Performance And Quality In Certain Cases

When complex logic is implemented via orchestration tools, the procedure sometimes results in poor and reduced performance of the datastore. These tools frequently add a large number of objects to the data store, and displays frequently involve a large number of function calls. For example, to mask data, lookup or entitlement tables, expressions, and other things. Therefore, these procedures might also eliminate some datastore optimizations in addition to requiring more processing. When more objects, such as roles, views, and entitlement tables, are added, complications are frequently created in addition to potential performance effects.

Vertical Outlook

By industrial vertical, the process orchestration market is segmented into Government and Defense, Energy and utilities, Transportation and Logistics, BFSI, Manufacturing, Healthcare and Pharmaceuticals, IT and Telecommunications, Retail and consumer goods, and Others. In 2021, the healthcare and pharmaceuticals segment garnered a significant revenue share of the process orchestration market. Personalized healthcare is currently being promoted by self-care, which is being supported by the digitization of services, more affordable and effective care models, and the healthcare sector as a whole. The demand for process orchestration to be adopted for cost-effectiveness and better efficiency of healthcare systems has been brought on by rising expenses and the promise of connected health technologies.

Component Outlook

Based on component, the process orchestration market is classified into Software and Services. In 2021, the software segment procured the highest revenue share of the process orchestration market. Standard procedures for business processes in complicated contexts can be standardized, consolidated, and automated with the use of process orchestration software. This is bolstering the demand for process orchestration software all over the world. Owing to this, the growth of this segment is rapidly rising.

Deployment Model Outlook

On the basis of deployment model, the process orchestration market is categorized into On-Premises and Cloud. In 2021, the cloud segment registered a significant revenue share of the process orchestration market. The rapid growth of the segment is a result of the increasing number of cloud providers operating in the field. It also eliminates the requirement for owning a separate system to leverage these solutions. Moreover, mid-sized financial institutions favor cloud-based Process Orchestration software because it requires little initial investment and less ongoing maintenance.

Enterprise Size Outlook

By enterprise size, the process orchestration market is fragmented into Large Enterprises and Small and Medium Enterprises. In 2021, the large enterprises segment acquired the largest revenue share of the process orchestration market. One of the major factors driving the expansion of this segment is that large enterprises are expanding their IT budgets to adopt cutting-edge technologies and solutions. The products aid in fostering better teamwork within huge organizations and boost worker productivity by enhancing the speed, effectiveness, and efficiency of business operations.

Regional Outlook

Region-wise, the process orchestration market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, North America held the largest revenue share of the process orchestration market. Several factors, including the rise in digitization and the use of process orchestration tools by several end-users across the region, including BFSI and retail, are responsible for the market’s expansion in this region. Furthermore, the existence of major players offers a significant number of growth prospects for market expansion.

The major strategies followed by the market participants are Acquisitions, Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix; Oracle Corporation, IBM Corporation, Broadcom, Inc., Cisco Systems, Inc., SAP SE, are the forerunners in the Process Orchestration Market. Companies such as HCL Technologies Ltd., Wipro Limited and Fujitsu Limited are some of the key innovators in Process Orchestration Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, International Business Machines Corporation, Oracle Corporation, Broadcom, Inc., Cisco Systems Inc, Fujitsu Limited, TIBCO Software Inc., Software AG, HCL Technologies Ltd., and Wipro Limited.

Recent Strategies Deployed in Process Orchestration Market

Partnerships, Collaborations and Agreements:

Jun-2022: Fujitsu entered into a partnership with Hexagon, a publicly listed global information technology company. Under this partnership, the companies would deliver combined applications of digital twin technologies along with solutions from both companies, such as data processing, AI analysis, IoT sensors, and advanced data visualization, in the cloud as well as computing infrastructure.

Feb-2022: Cisco joined hands with Rakuten Symphony, a subsidiary of Rakuten Mobile. Following this collaboration, the companies would help vice providers in innovating futuristic advancements in the internet. Moreover, this collaboration would also expedite access to ORAN-based cloud-native, virtualized 4G/5G mobile networks.

Dec-2021: HCL Technologies came into a partnership with KloudGin, a leading software provider. This partnership aimed to deliver cutting-edge cross-silo solutions to key water/wastewater, manufacturing, telecoms, commercial services, oil & gas, and utility operations. Moreover, this partnership would also help companies efficiently and quickly transform operations via digital tools, data optimization, and mobile FSM and EAM solutions delivery.

Nov-2021: Wipro partnered with DriveNets, a leading cloud-native networking software company. Through this partnership, the companies aimed to transform CSP’s approach to building next-generation networks.

Apr-2021: Broadcom teamed up with Google, an American multinational technology company. Under this collaboration, the companies would expedite innovation while also strengthening cloud services integration across Broadcom’s core software franchises. Furthermore, Broadcom would also deliver its security and enterprise operations software range on the Google Cloud.

Mar-2020: Cisco came into a partnership with Microsoft, an American multinational technology company. This partnership aimed to allow flawless data orchestration through the integration of Cisco IoT Edge and Azure IoT Cloud. This partnership also aimed to address the transfer of data from the IoT edge and offer opportunities to customers in order to unlock business value from their data.

Product Launches and Product Expansions:

Apr-2022: Fujitsu released Fujitsu Computing as a Service, a new service portfolio. This launch aimed to drive digital transformation and customer empowerment all over the world by providing the access to most advanced computing technologies across the world through the cloud for commercial utilization.

Nov-2021: IBM Watson rolled out IBM Imaging Workflow Orchestrator, a new AI orchestration offering. With this launch, the company aimed to aid imaging organizations in leveraging the benefits of employing seamless AI applications. In addition, the new solution aimed to modernize the reading experience of radiologists while also lowering the demands of the imaging system and IT administrators.

May-2021: IBM unveiled Watson Orchestrate, an AI-powered automation tool. The new solution aimed to accelerate the personal productivity of businesses and business professionals across operations, human resources, sales, and more. Also, it would enable companies to communicate through natural language in order to perform tasks.

Mar-2021: HCL Technologies rolled out ASM 2.0, a next-generation application management framework. The new product aimed to aid businesses in driving agility, resilience, and stakeholder experiences with optimized costs.

Acquisitions and Mergers:

Jan-2022: Oracle completed its acquisition of Federos, a privately held company. Through this acquisition, the company aimed to extend its application portfolio with the integration of AI-optimized analytics, automation, and assurance solutions to manage the performance and availability of critical systems and networks. In addition, the acquisition would also expand the ability of Oracle to deliver end-to-end service and network assurance.

Oct-2021: Cisco completed its acquisition of Epsagon, a modern observability vendor. Through this acquisition, the company aimed to complement its performance on full-stack observability for cloud-native environments to accelerate Cisco’s capability roadmaps.

Apr-2021: IBM took over myInvenio, a process mining software company. This acquisition aimed to offer data-driven software to businesses to allow them to identify the most crucial business processes with the aim to automate procurement, accounting, production, and sales with the help of AI.

Jan-2021: SAP SE acquired Signavio, a Business Process Management software vendor. Through this acquisition, the company aimed to expand its capacity to aid businesses in rapidly comprehending, enhancing, transforming, and managing their business processes at scale.

Scope of the Study

Market Segments covered in the Report:

By Component

• Software

• Services

By Vertical

• BFSI

• IT & Telecom

• Manufacturing

• Retail & Ecommerce

• Government & Public Sector

• Healthcare & Life Sciences

• Transportation & Logistics

• Energy & Utilities

• Others

By Organization size

• Large Enterprises

• SMEs

By Deployment Model

• On-premise

• Cloud

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• SAP SE

• International Business Machines Corporation

• Oracle Corporation

• Broadcom, Inc.

• Cisco Systems Inc

• Fujitsu Limited

• TIBCO Software Inc.

• Software AG

• HCL Technologies Ltd.

• Wipro Limited

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06315045/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________

CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001

https://finance.yahoo.com/news/global-process-orchestration-market-size-105200658.html