Market Overview —
Every enterprise across the world is required to carry out processes respective to their industries. These processes can include basic ones such as manufacturing, shipping, logistics, etc. along with more complex processes such as digitalization, automation, market research, and various other dynamic processes. Systems are developed to ensure that these processes are carried out without any hassle or obstructions. Process orchestration usually includes three specific services, management, execution, and monitoring. Digital devices and systems are invented for orchestrating processes of every major industry.
Process orchestration systems exist for both digital and non-digital processes; however, the systems themselves are almost always digitalized in nature. This is to ensure a high level of accuracy within the processes and this also leads to various benefits for the industry. Most IT enterprises are attempting to digitalize most of their processes and process orchestration systems become a primary requirement for this digitalization process. In recent times cloud services and other technological advancements have led to the development of highly robust process orchestration systems. Apart from large corporations, SMEs are also beginning to identify the various benefits of digitalization and are thus enabling the development of acute process orchestration systems.
The global process orchestration market was analyzed by Market Research Future (MRFR) and it was projected that a striking CAGR of 16.8% will be attained by the market over the forecast period of 2018 to 2023. The valuation of the process orchestration market was further stated to surpass its previous valuation USD 3.45 billion in 2017 and reach an estimated figure of USD 8.60 billion by the end of 2023.
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The global process orchestration market has been segmented in terms of function, deployment, industrial vertical, organization size, and components.
By function, the market segments into finance and accounting, supply chain management and order fulfillment marketing, customer service and support, and human resource management.
By component, the market includes services and solutions.
By deployment, the market divides into on-premise and cloud deployments.
By organization size, the market comprises large organizations and small and medium sized enterprises.
By industry vertical, the market includes consumer goods and retail, BFSI, transportation and logistics, media and entertainment, telecom and IT, energy and utilities, manufacturing, others.
The global Process Orchestration Market comprises a host of key players. This includes names like BMC Software Inc (US), IBM Corporation (US), OpenText Corporation (Canada), SAP SE (Germany), Oracle Corporation (US), HCL Technologies Limited (India), CA Technologies (US), Software AG (Germany), Wipro (India), Fujitsu Ltd (Japan), ServiceNow Inc (US), Newgen Software Technologies Limited (US), Cisco Systems Inc (US), and Micro Focus International PLC (UK). These players are contributing majorly to the overall growth and welfare of the process orchestration market.
Aside from these top players, there are a number of other players as well that are contributing to the growth of the global market. This includes names like eQ Technologic (US), Ayehu Software Technologies Ltd (US), Arvato AG (Germany), Cortex Ltd (England), Micro Focus International PLC (UK), PMG.net (US), and others.
The global process orchestration market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
North America holds the dominant hand in the global process orchestration market in terms of market size. This is due to the early adoption of process orchestration herein and continuous paced innovation in various relevant technologies by organizations in order to enhance their existing business process. The presence of a number of key players is majorly boosting the growth of the Nroth America market. Some of the leading players based herein include BMC Software Inc., CA Technologies, IBM Corporation, Cisco Systems Inc, Oracle Corporation, ServiceNow Inc, and others.
July 2019, a leading software company, named Software AG, made the announcement that ARIS Cloud will now be available on the marketplace of Amazon Web Services (AWS) for customers in order to purchase as a direct software-as-a-Service (SaaS) solution.
LIST OF TABLES
Table1 Global Process Orchestration Market, By Country, 2018-2023
Table2 North America: Process Orchestration Market, By Country, 2018–2023
Table3 Europe: Process Orchestration Market, By Country, 2018–2023
Table4 Asia-Pacific: Process Orchestration Market, By Country, 2018–2023
Table5 Latin America: Process Orchestration Market, By Country, 2018–2023
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LIST OF FIGURES
Figure 1 Global Process Orchestration Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis Of Global Process Orchestration Market
Figure 4 Value Chain Of Global Process Orchestration Market
Figure 5 Share Of Process Orchestration Market In 2018, By Country (In %)
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