Press release
Process Orchestration Market Size, Share, Growth and Forecast 2019-2025
A full Report of Process Orchestration Market Available at: https://www.omrglobal.com/industry-reports/process-orchestration-market
Cloud-based orchestration is expected to contribute the most in the global process orchestration market growth in the coming years. Cloud orchestration is utilized to handle an organization’s cloud services. It includes everything from technology layer to service management, offering visibility and control of all services and governance against changing business needs. With expenditure on cloud services is increasing at a substantial rate, cloud orchestration is expected to display positive results in the process orchestration market. However, complexities in the cloud could make it hard for companies to implement cloud-based orchestration successfully. Other restraining factors include lack of visibility, security, management of costs, among more.
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There is the significant implementation of process orchestration in financial services which is contributing to process orchestration market. It is essential for banking and financial services companies to ensure the rapid deployment of new processes to meet speed-to-market, service quality, and compliance requirements. Financial institutions today combine a wide range of product and service offerings, across banking, insurance, and asset management. They operate in global and cross border markets. They have increasingly sophisticated and mobile customer bases. Increased regulatory vigilance and new corporate governance rules have the potential to add new layers of complexity and cost. For all these reasons, the effective management of complexity is a crucial determinant of future success. More banking and financial services companies are expected to implement process orchestration solutions in the coming years.
Further, the increasing on-time service delivery and automation are anticipated to offer lucrative opportunities for process orchestration services and solution companies in the years to come. The global leaders in process orchestration services include IBM, Everteam, Cortex, Software AG, SAP, Cisco, ServiceNow, BMC, and HCL, among more. However, numerous organizations are still not aware of their advantages and are hesitant to implement process orchestration services and solutions in their functioning and operations. A misconception that is widespread among the organization is that the implementation of process orchestration could lead to job security threats as most of the manual processes would be automated. This lack of awareness and misconception is posing a threat to the growth of the process orchestration market.
Current Market Trends Covered in the Report:
• Increasing Adoption of Cloud
• Banking and Financial Services to Lead the Segments
• Digital Transformation Increasing Users’ Awareness for Optimizing Business Processes
• Integration of AI and ML in Business Process Orchestration
Global Process Orchestration Market – Segmentation
By Component
• Solution
• Services
By Deployment Type
• Cloud
• On-premises
By End-Use
• Banking, Financial Services, and Insurance (BFSI)
• IT & Telecom
• Consumer Goods
• Transportation & Logistics
• Energy & Utilities
• Others (Manufacturing)
Global Process Orchestration Market –Region
North America
• US
• Canada
Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
• Middle East & Africa
• Latin America
Company Profiles
• Arvato Systems GmbH
• Ayehu Software Technologies, Ltd.
• BMC Software, Inc.
• CA Inc., a company of Broadcom, Inc.
• Cisco Systems, Inc.
• Cortex Ltd.
• Everteam Group Companies
• Fujitsu Ltd.
• HCL Technologies Pvt. Ltd.
• IBM Corp.
• Icaro Tech
• Micro Focus International PLC
• NetSPI, LLC
• Nipendo Ltd.
• OpenText Corp.
• Oracle Corp.
• SAP SE
• ServiceNow, Inc.
• Software AG
• TIBCO Software Inc.
• Wipro Ltd.
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Contact Person: Mr. Anurag Tiwari
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Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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