The managed service dominates the process orchestration market, holding a share of over 70% in 2018. The rapidly changing technological landscape for managing processes in an enterprise environment is one of the key factors, contributing to the growing adoption of managed services related to process orchestration deployments and maintenance. The managed service providers also offer enhanced benefits such as improved process efficiency, enhanced service portfolio, higher staff productivity, and better customer experience, driving the market growth.
The enterprises having a small employee base and operational capacity still rely on traditional measures without spending additional funds to implement the advanced orchestration solutions, acting as a major challenge in the process orchestration market. Compatibility issues with the prevailing business applications and the stringent compliance and regulatory requirements also act as market barriers.
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Process Orchestration Market is projected to surpass USD 9 billion by 2025. Factors such as increasing importance of digitalization, the changing technological landscape, the rising requirement for optimizing business processes, and the growing demand for enhancing business agility are driving the market demand. Furthermore, the increasing integration of advanced technologies such as AI, machine learning, and automation with process orchestration solutions has accelerated market demand.
Process orchestration solutions assist in creating streamlined processes by implementing, integrating, and monitoring custom process applications. It improves the process flexibility and speed by creating custom process applications, which will enhance the business agility. The solution also offers greater visibility into the business functioning to understand the business processes in a better manner, monitoring employees, and achieving optimal performance, driving the market demand.
The cloud-process orchestration market is growing at the fastest rate and is projected to grow at a CAGR of over 18% over the forecast timespan. The rising demand for cost-effective, scalable, and flexible solutions has enhanced the popularity of cloud-based process orchestration solutions. Various industry verticals including healthcare, BFSI, IT & telecom, retail, and energy and utilities are shifting their focus toward cloud-based process orchestration solutions to deploy efficient resources and enhance their business productivity at lower costs.
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The customer service and support segment held over 19% of the process orchestration market share in 2018 and is projected to grow over the forecast period. The technological advancements over the last decade has increased the demand for better customer service with improved choices at reduced prices. This has enforced the customer support and service providers to focus on transforming the internal business structures and provide standard customer experience. The adoption of process orchestration solutions in this process will assist in enhancing customer satisfaction, improving business productivity by freeing up resources to focus on complex tasks, and enforcing compliance & improved transparency in the business.
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. The solutions assist in improving teamwork across large enterprises and increase process speed, efficiency, and productivity of employees, contributing to their market dominance.
The manufacturing sector is anticipated to dominate the process orchestration market with a revenue of over USD 900 million in 2018. The high pace of transformation in manufacturing has enabled organizations to adopt process orchestration solutions to meet the smart individualized product demands. This solution helps in real-time optimization and orchestration of businesses and offers digital and physical processes within factories and throughout the value chain. It also complies with stringent regulations and aids in gaining higher visibility within the system and ultimately optimizing manufacturing processes.
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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. The companies operating in this country are also making huge investments in AI technology, with a positive impact on market growth.
The leading players working in the process orchestration market include: Cisco, HCL, IBM, Ayehu, BMC Software, Icaro Tech, Fujitsu, Dealflo, Cortex, CA Technologies, OpenText, Oracle, Software AG, Wipro, SAP, Newgen, and Micro Focus. The companies are entering into strategic acquisitions to expand their product offerings and gain a higher foothold in the competitive market.