Process Orchestration Market Will Reach USD 10.16 Billion By 2026 | HCL, Micro Focus, Wipro, and BMC Software

The global process orchestration market is forecast to reach USD 10.16 Billion by 2026, according to a new report by Reports and Data. The process orchestration market is projected to witness significant growth during the forecast period. Integration of factors like the rise in demand for optimum resource utilization, digital transformation among end-user industries, and enhanced IT systems for catering to changing customer preference are propelling the growth of the market. The expansion of the market is also attributed to various advantages associated with process orchestration. 

In regards to region, Asia Pacific is projected to witness the fastest growth rate of 17.2% during the forecast period. Factors like rapid digitalization, and rise in adoption of cloud-based technologies contribute to the region's growth rate.

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The research study examines the process orchestration Market and the impact of COVID-19 observed on the overall sector. The pandemic has affected the global industry extensively. The current changes in the business setting and the future effects of the outbreak are assessed in the report.

The emerging and present key participants in the Process Orchestration market are:

Oracle, SAP, IBM, Fujitsu, Cisco, CA Technologies, HCL, Micro Focus, Wipro, and BMC Software.

Profitability scope and Prospects

The key participants who have shown tremendous growth in the Process Orchestration market have been included in the report. In the report, data from 2016 to 2018, shows that some of the companies have shown enormous sales revenues, with the net revenue being doubled and the profits continually increasing. The profitability of the products being sold by the company indicates the influence and competitive advantage these companies have over the others.

For the purpose of this study, Reports and Data have segmented the market on the basis of Deployment Mode, Software, Application and region:

Component Type Outlook (Revenue, USD Billion; 2020-2026)

Solutions
Services

Organization size Type Outlook (Revenue, USD Billion; 2020-2026)

Large Enterprises
Small and Medium-Sized Enterprises

Deployment Type Outlook (Revenue, USD Billion; 2020-2026)

On-premises
Cloud

Business Function Type Outlook (Revenue, USD Billion; 2020-2026)

Human Resource Management
Supply Chain Management and Order Fulfillment
Marketing
Customer Service and Support
Finance and Accounting

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End-users Type Outlook (Revenue, USD Billion; 2020-2026)

Manufacturing
IT & Telecommunication
Banking, Financial Services, and Insurance [BFSI]
Transportation and Logistics
Media and Entertainment
Consumer Goods and Retail
Energy and Utilities
Others

Regional Outlook (Revenue in USD Million; 2016–2026)

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)

Further key findings from the report suggest

- Process orchestration market held a market share of USD 3.41 Billion in the year 2018, with a growth rate of 15.8% during the forecast period.

- In context to Component, the Solutions segment generated a higher revenue of USD 0.15 Billion in 2018, with a CAGR of 3.1% during the forecast period. Factors like the effectiveness of process orchestration solutions in helping organizations to minimize their resources and costs, along with reducing the business risks, contribute to the revenue generated by this segment.

- In regards to Organization size, it has been segmented into Large Enterprises and Small and Medium-Sized Enterprises. Between these two segments, the Large enterprise segment is leading the market that occupied a larger market share of 76.0% in 2018, with a growth rate of 14.9% during the forecast period. The market share that this segment occupies, is the result of high work pressure, and the complexity of organizational functioning that makes process orchestration highly relevant and widely used in this segment.

- While discussing Organization size, it is mentionable that, the Small and Medium enterprise segment is forecasted to witness a faster CAGR of 18.6% during the forecast period, which is expected to hold 29.0% of the market by 2026. The growth rate of this segment is attributed to elevating need of minimizing operational costs and updating business processes that results in increasing application of process orchestration in this segment.

- In the context of Deployment Type, the On-premises segment yielded a higher revenue of USD 2.49 Billion in 2018, with a CAGR of 14.8% during the forecast period. The revenue generated by this segment is the result of its various benefits like enhanced process control in this type of deployment, availability of data on-demand, and easy accessibility to project-critical information.

- In regards to Business function, the Supply Chain Management and Order Fulfillment segment holds the largest market share of 42.0% in 2018, with a growth rate of 16.0% during the forecast period. The market share that this segment occupies, is the result of the global expansion of end-users, the associated need for dealing with supply chain complexities and enhance it further. Herein, process orchestration helps organizations in providing with enhanced customer experience, which results in increased incorporation of process orchestration in this segment, contributing to its market share. 

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The Process Orchestration report addresses the following questions:

> Understand the demand for global Process Orchestration to determine the viability of the market.

> Identify the developed and emerging markets where Process Orchestration are offered.

> Identify the challenge areas and address them.

> Develop strategies based on the drivers, trends and highlights for each of the segments.

> Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed.

> Recognize the key competitors of this market and respond accordingly.

> Knowledge of the initiatives and growth strategies taken up by the major companies and decide on the direction for further growth.

> Define the competitive positioning by comparing the products and services with the key players in the market.

The full version of this report is available @ https://www.reportsanddata.com/report-detail/process-orchestration-market  

Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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