The large enterprises are projected to hold a large market share in the process orchestration market as they are increasing their IT budgets to adopt advanced technologies and solutions, driving the market growth. According to estimates, large enterprises accounted for over 70% of the industry share in 2018, dominating the market. Large enterprises generally boast of high capitals, which allows them making significant investments toward the R&Ds in order to revamp the business operations. Increasing deployment of machines learning and process automation technologies in the large enterprises creates a platform for the integration of process orchestration solutions.
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The increasing integration of advanced technologies including AI and machine learning to optimize and streamline the business processes will drive the process orchestration market size. The advent of artificial intelligence rapidly adapts to the changes and makes the process easy and more precise. Due to this, the process orchestration solutions based on AI are increasingly becoming popular among the enterprises with added business intelligence they provide.
Additionally, the rising inclination toward digitalization in order to enhance the business agility is also expected to drive the market demand. According to reliable reports, process orchestration market size will surpass USD 9 billion by 2025.
Enumerating the application landscape of the process orchestration market, the retail & consumer goods sector is anticipated to emerge as a pivotal avenue for this industry. With increasing market competition and rapidly evolving consumer needs, it has become vital for the retail sector to improve its service offerings. Process orchestration solutions will enable such businesses to transform their operations and enhance customer reach, and will also help in automating manual processes, minimizing operating costs, improving customer shopping experience and identifying new revenue streams in the highly competitive sector. This in consequence would majorly accelerate process orchestration industry share from retail & consumer goods applications, slated to depict a CAGR of 14% over 2019-2025.
Speaking along similar lines, it is prudent to mention that the process orchestration market has been depicting quite some growth from the deployment of the cloud. Cloud-based process orchestration services help in simplifying deployment and centralizing automation processes, making it easier for expanding and transforming processes at a lower cost and at a faster speed. Given the cloud’s off-premise feature, orchestration brings dependency management, high availability, failure recovery, scaling and numerous other tasks and attributes all into a single process, significantly reducing staff effort. The rapid growth and adoption of cloud solutions across SMEs are thus contributing majorly to the expansion of cloud-based process orchestration industry.
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Asia Pacific is growing at the fastest rate in the process orchestration market. The rapid economic development, growing government initiatives for bringing about digitalization, and growth in the number of SMEs supporting digital transformation are the major factors driving the market growth in this region. China dominates the Asia Pacific market, which is majorly attributed to the rise in the demand for cloud-based solutions and the expansion of data center ecosystem.
Proliferation in the retail sector coupled with the integration of advanced technologies, such as AI and machine learning will contribute to the growing adoption of process orchestration. Businesses are continuously launching newer products in the market to meet the growing customer requirements, further driving market growth. The growing demand for cloud technologies is also contributing to the process orchestration industry growth. According to Global Market Insights, Inc., the process orchestration market size will exceed $9 billion by 2025.
Some Points From Table Of Content:
Chapter 6. Process Orchestration Market, By Business Function
6.1. Key trends, by business function
6.2. Supply Chain Management (SCM) and order fulfillment
6.2.1. Market estimates and forecast, 2014-2025
6.3. Finance and accounting
6.3.1. Market estimates and forecast, 2014-2025
6.4. Customer service and support
6.4.1. Market estimates and forecast, 2014-2025
6.5. Human Resource Management (HRM)
6.5.1. Market estimates and forecast, 2014-2025
Chapter 7. Process Orchestration Market, By Deployment Model
7.1. Key trends, by deployment model
7.2.1. Market estimates and forecast, 2014-2025
7.3.1. Market estimates and forecast, 2014-2025
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