02-11-2019 07:03 PM CET - IT, New Media & Software
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Cloud Orchestration Market by 2023: Growth Drivers and Trends - Allied Market Research

Press release from: Allied Market Research

Hybrid deployment model is expected to witness highest growth rate during the forecast period, owing to enhanced flexibility in switching cloud space depending upon the functions of orchestration process and usage in the cloud. Moreover, increase in demand for cloud automation, security, protected networks, and reduced IT expenditure are anticipated to drive the cloud orchestration adoption among SMEs.

The global cloud orchestration market was valued at $3,496 million in 2016, and is projected to reach $13,633 million by 2023, growing at a CAGR of 21.8% from 2017 to 2023.

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The government & education and banking, financial services, and insurance (BFSI) segments have witnessed high demand for cloud orchestration due to expanding customer base and internet users. In addition, reduced investment for new software and services in banking and insurance industries is expected to drive the cloud orchestration market in the near future. Moreover, the healthcare segment has exhibited an increase in cloud adoption across various regions, owing to its low cost and improved reliability & scalability.

North America was the highest market in cloud orchestration industry in 2016, owing to the growth in demand for low-cost cloud infrastructure development and demand for optimized process automation by the enterprises. Several industry verticals, such as healthcare, manufacturing, retail, and others, are adopting cloud orchestration solution for better business orientation. For instance, in September 2016, Oracle Corporation launched cloud orchestration solution for optimized marketing operations in retail industry. In addition, industry participants have realized the importance of strengthening the overall cloud orchestration solution to ensure competence and effectiveness of business operations and process setup in several emerging markets, such as Asia-Pacific, Latin America, and Middle East.

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The surge in ICT expenditure and increase in cloud adoption across industry verticals, including BFSI, retail, healthcare, manufacturing, and government & education, are anticipated to augment the cloud orchestration market penetration. Asia-Pacific and Europe have witnessed adoption of cloud orchestration adoption, high adoption of Internet of Things (IoT) technology, and surge in demand for low-cost IT infrastructure deployment, which is anticipated to fuel the cloud orchestration market growth in the coming years.

North America was the highest revenue contributor in 2016, accounting for around 45.5% share of the overall cloud orchestration market. In addition, Asia-Pacific is projected to grow at the highest CAGR of 23.8% during the forecast period, driven by growth in penetration of workforce mobility and cloud adoption by small- and mid-sized companies.

Cloud Orchestration Market: www.alliedmarketresearch.com/press-release/cloud-orchestr...

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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