This market research report provides a detailed analysis of the market by component (software and services), deployment type (on-premises and cloud), business function (Supply Chain Management, Finance and Accounts, Operations and Customer Care, and Sales and Marketing), industry (Manufacturing, Telecom and IT, BFSI, Energy and Utilities, Consumer Goods and Retail, and Others), and region (North America, Europe, Asia Pacific, Middle East and Africa and Latin America). Process Orchestration market is dominated by few top software companies such as Oracle, IBM, Cisco, Microsoft, etc.
Overview of the Process Orchestration Market
Infoholic’s market research report predicts that the process orchestration market revenue is estimated to be $3,061.5 million in 2018 and is expected to reach $8,906.3 million by 2024, growing at a CAGR of 19.5% during the forecast period 2018–2024.
According to the process orchestration market analysis, North America accounted for the largest share of the process orchestration market in 2018 owing to strong economic conditions in the region and enhance customer experience for the clients. The cloud deployment mode offers enterprises to opt for SaaS on a subscription basis as per usage rather than incurring costs on hardware and infrastructure. The Asia Pacific region holds good potential for the vendors and is expected to grow at the highest CAGR during the forecast period 2018–2024. The Asia Pacific region is expected to witness growth in process orchestration market due to presence of few emerging countries and organizations in the region are experiencing an increase in customers with more spending capacities.
Competitive Analysis and Key Vendors
The process orchestration software vendors are extending its partner ecosystem with capabilities in integration, consulting, reseller, and geographical reach to enhance the software offerings. The process orchestration is expected to enhance the BPM capabilities of organizations and seamlessly assign tasks for early completion.
The report contains an in-depth analysis of vendor profiles, which include overviews and offerings, and competitive landscape. The integration capability of the process orchestration software leverages the capabilities in planning more complex work with less human decision-making.
Some of the key vendors in the market are:
Other companies covered in the report are Data Ductus, Cortex, Icaro Tech, Nipendo, PMG.net.
Segmentation based on component
In 2018, the software segment occupied the highest market share, but services segmented is expected to have the highest CAGR during the forecast period. The consulting segment in services is expected to have the largest market size during the forecast period to impart knowhow of the benefits and integration capability of the process orchestration software to the customers.
Segmentation based on deployment
In 2018, the on-premises occupied the largest market share and cloud deployment type is expected to grow at a higher CAGR during the forecast period. It is mostly offered as SaaS from cloud vendors, which is scalable and reduces the cost incurred in the business processes. It is a preferable mode for many SMEs to reduce the expenditure on IT hardware and equipment.
Segmentation based on business function
- Supply Chain Management
- Finance and Accounts
- Operations and Customer Care
- Sales and Marketing
In 2018, the finance and accounts occupied the largest market share and it is expected to continue the same trend during the forecast period.
Segmentation based on industry
- Telecom and IT
- Energy and Utilities
- Consumer Goods and Retail
In 2018, the BFSI occupied the largest market share and is expected to continue the same trend during the forecast period due to more usage of BPM applications by the finance industry.
The study offers a comprehensive analysis of the “Process Orchestration” market bringing out the complete key insights of the industry, the report also aims to provide an opportunity for companies to understand the latest trends, current market scenarios, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.