PUBLISHER: The Business Research Company | PRODUCT CODE: 1464162
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464162
Process orchestration involves the coordination and management of interconnected processes within an organization to achieve specific business objectives. It encompasses designing, executing, and monitoring workflows, tasks, and activities to facilitate efficient collaboration among various systems, applications, and stakeholders.
The primary components are software and services. Software components are modular and reusable elements designed to perform specific functions within a larger software system. They can be deployed both in the cloud and on-premises, catering to enterprises of different sizes, including large corporations and small to medium-sized enterprises (SMEs). These components find applications across various industries such as financial services, manufacturing, healthcare, IT and telecommunications, retail, energy and utilities, transportation, among others.
The process orchestration market research report is one of a series of new reports from The Business Research Company that provides process orchestration market statistics, including process orchestration industry global market size, regional shares, competitors with a process orchestration market share, detailed process orchestration market segments, market trends and opportunities, and any further data you may need to thrive in the process orchestration industry. This process orchestration market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The process orchestration market size has grown exponentially in recent years. It will grow from $4.60 billion in 2023 to $5.58 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%. The growth observed in the historic period can be attributed to several key factors. These include the rise of enterprise resource planning (ERP) systems, adoption of service-oriented architecture (SOA), the emergence of business process management (BPM) initiatives, the increasing prevalence of cloud computing, and the growing complexity of IT environments. These factors collectively contributed to the expansion and evolution of process orchestration during the historic period.
The process orchestration market size is expected to see rapid growth in the next few years. It will grow to $11.20 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to growing importance of cybersecurity orchestration, focus on customer journey orchestration, evolution of robotic process automation, continued emphasis on digital transformation, expansion of IoT ecosystems. Major trends in the forecast period include focus on explainable AI (XAI), event-driven architectures, deeper integration with robotic process automation, cross-platform and multi-cloud orchestration, and enhanced AI-driven decision making.
The anticipated surge in demand for digital transformation initiatives is expected to drive the growth of the process orchestration market in the coming years. Digital transformation entails the integration of digital technologies across all facets of a business, fundamentally altering its operations and value delivery mechanisms. Process orchestration plays a pivotal role in digital transformation endeavors by furnishing a strategic framework to govern the synchronized and efficient execution of automation endeavors. It enables organizations to streamline, automate, and optimize their business processes, leading to heightened efficiencies and enriched customer experiences. For example, in October 2022, the International Data Corporation reported that global spending on digital transformation surpassed $1.8 trillion by the end of 2022, with projections indicating a further rise to $2.8 trillion by 2025. Consequently, the escalating demand for digital transformation initiatives serves as a catalyst for the expansion of the process orchestration market.
Leading players in the process orchestration landscape are directing their efforts towards the development of innovative AI (artificial intelligence) orchestration services, particularly workflow orchestration services, in response to the burgeoning adoption of AI orchestration across various end-user industries. Workflow orchestration services encompass the utilization of tools, platforms, or systems to automate and manage the coordination, execution, and monitoring of workflows or business processes. For instance, in January 2024, Kyndryl Holdings, Inc., a US-based IT service management company, unveiled AI-enabled workflow orchestration services designed to automate business processes. Leveraging artificial intelligence, these services aim to augment efficiency, productivity, and user experiences within the digital workplace. Additionally, they feature user-friendly interfaces, streamline complex processes, offer real-time visibility, access controls, encryption, and usage monitoring. Furthermore, AI automation and workflow capabilities are leveraged to simplify complexity, reduce cycle time, and optimize ROI by curtailing training and development costs.
In January 2023, Dell Technologies, Inc., a US-based computer software company, completed the acquisition of Cloudify for an undisclosed sum. This strategic acquisition is geared towards fortifying Dell's cloud orchestration capabilities through the integration of Cloudify's cloud orchestration tools. By incorporating Cloudify's expertise, Dell aims to enhance its cloud automation and orchestration technologies, thereby bolstering innovation in edge offerings. Cloudify Platform Ltd., headquartered in Israel, is a privately held open-source company renowned for providing a multi-cloud orchestration platform, aligning with Dell's strategic objectives in cloud technology advancement.
Major companies operating in the process orchestration market report are International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Broadcom Inc., SAP SE, Fujitsu Limited, HCL Technologies Limited, Wipro Limited, ServiceNow Inc., Arvato AG, Open Text Corporation, Micro Focus International plc, BMC Software Inc., Software AG, TIBCO Software Inc., EQ Technologic India Private Limited, Cherwell Software LLC, Axios Systems PLC, Icaro Tech Tecnologia e Informacao Ltda., Data Ductus AB, Cortex Business Solutions Inc., Everteam SAS, FlowForma Limited, Nipendo Ltd., Intellyx Corp., Dealflo Limited, Newgen Software Technologies Limited
North America was the largest region in the process orchestration market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the process orchestration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the process orchestration market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The process orchestration market consists of revenues earned by entities by providing services such as workflow design and modeling, integration services, optimizing workflows, monitoring and analytics, security, and compliance. The market value includes the value of related goods sold by the service provider or included within the service offering. The process orchestration market also includes sales of automation tools, process modeling and design tools, connectivity adapters, and collaboration tools. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Process Orchestration Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on process orchestration market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for process orchestration ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The process orchestration market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.