Service Orchestration Market Expected to Grow US$ 2.5 Bn by 2021
The service orchestration market is set to witness significant growth of 20% during 2021-2031, and would grow US$ 2.5 Bn by 2021. The market will show significant growth in coming years, owing to rise in business automation processes and high adoption of cloud computing services across the globe. Moreover, the skyrocketing IT budgets and increasing complexity in IT infrastructures is driving the demand for service orchestration software.
What is Driving Demand for Service Orchestration Software?
The growing need to manage complex IT tasks and workflows is expected to increase the demand of service orchestration software among organizations. The software enables IT departments to easily manage processes, monitor resources, and consolidate discrete tasks into end-to-end processes from a single point of control.
With the rapidly changing IT industry and increased complexity of IT environments, the demand for service orchestration has been increased in the past few years. Whether the organizational applications and data are housed on-premise or in the cloud, automation and orchestration make complex business processes run smoothly.
Service orchestration software are designed to unify the management of disparate processes and systems, across on-premises and cloud-based environments. Enterprises are continuously facing several challenges associated with the IT infrastructure including integration and compatibility challenges, skyrocketing IT budgets and increasingly complex infrastructures. Thus, to address all these challenges, organizations have started focusing more on adoption of service orchestration software to streamline all their business processes.
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Benefits of Cost-Effectiveness and High-Availability and elastically is Likely to augment the Demand for Service Orchestration Software
Over the past few years, the development of service orchestration architectures and interfaces has been accelerating. A key motive of service orchestration is to enable dynamic and flexible resource control and monitoring mechanisms. Organizations continually seeks to improve cost and efficiency as they scale, and service orchestration enable them to achieve their goals by delivering on those improvements with predictability and reliability.
Service orchestration control capabilities that reduce total cost of network ownership and deliver on-demand services to a broader range of businesses. Moreover, the multi-domain service orchestration, ensures customers have the software development and integration support to streamline service activation and enhance service agility.
US and Canada Service Orchestration Market Outlook
U.S. is anticipated to constitute a major share in the North America service orchestration market, during the forecast period. This can be attributed to large investments in cloud-based solutions, presence of a large number of players in this region, and early adoption of new and emerging technologies. Moreover, the emergence of several important technological advancements are already reshaping much of the country’s economy.
U.S. and Canada is an extremely open market for digital transformation. Digital transformation in both the countries is accelerating the push of major software vendors. Thus, the rise in startups across the country is expected to drive the growth of service orchestration solutions among SMEs and large enterprises
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Europe Demand Outlook for Service Orchestration Software
As compared to U.S., the European economy growth relatively week. However, the region have witnessed adoption of cloud orchestration, high adoption of Internet of Things (IoT) technology, and surge in demand for low-cost IT infrastructure, which is anticipated to fuel the service orchestration solution demand, in the coming years.
Organizations in the European countries such as UK, Germany, France, Russia and others, are investing millions of euros on digitizing the business processes to take the biggest possible share of the digital opportunities. European businesses, especially service providers and those in financial services, content and digital media, healthcare and life sciences, continue to expand their digital infrastructure, driving demand for service orchestration solutions
Who are the Major vendors of Service Orchestration?
Some of the leading vendors and companies of service orchestration include Cisco Systems, Inc., Juniper Networks, Inc., Hewlett Packard Enterprise (HPE), Huawei Technology Co. Ltd., IBM Corporation, NEC Corporation, Intel Corporation, Ericsson, Fujitsu Limited, and Accenture Plc., among others.
Key players offering service orchestration solutions are focusing on product innovation and strategic partnerships with the regional vendors to collaborate for offering advanced customer experience solutions to effectively manage their business operations. Furthermore, many companies are focusing on acquiring small and mid-sized organizations present in this market. For instance, on July 2020, Customer engagement company Freshworks has acquired Flint, an IT orchestration and cloud management platform based in India.
An Adaptive Approach to Modern-day Research Needs
Service Orchestration Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
- Service Orchestration Platform/Software
- Professional Service
- Implementation & Integration
- Support & Maintenance
- Managed Service
- Professional Service
By Enterprise Size
- Large Enterprises
- Small and Mid-Sized Enterprises (SMEs)
- Retail & E-commerce
- IT & Telecommunication
- Travel & Hospitality
- Food & Beverages
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Pacific
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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