Orchestration Middleware Market : BSFI sector to Reach US$ 5.23 Bn by 2024

According to Persistence Market Research, the US$ 8.8 Bn integration and orchestration middleware market will surpass US$ 15 Bn by 2024-end, expanding at a CAGR of 7.1% through 2024. Primarily fueled by widespread adoption of cloud computing, rapidly expanding digital transformation, and soaring adoption of API management, this market will also be impacted by several other technology trends.

Top market players profiled in the report, include IBM Corporation, OpenText Corporation, Microsoft Corporation, Oracle Corporation, and Infor ION. SPS Commerce, Inc., Society for Worldwide Interbank Financial Telecommunication (SWIFT), Axway, Covisint, and Tibco Software Inc. are other leading companies on the market’s competitive landscape.

Based on middleware type,

Integration middleware will remain the leading segment, followed by business-to-business middleware segment., Over 2016-2024, integration middleware segment is likely to gain over 700 BPS and expand at a healthy CAGR of 9.2%, reaching US$ 7.37 Bn in 2024., While integration segment is projected to account for over 48% share in terms of value, B2B middleware segment will hold around 25% share in 2024., However, event-driven middleware segment will witness a higher growth rate compared to B2B.

By deployment type,

On-premise will remain the largest segment slated for moderate growth over the forecast period, attaining a value of over US$ 9 Bn in 2024. However, this segment will reportedly lose its market share by 1400 BPS, resulting in nearly 60% of the total revenues by 2024-end., Growing popularity and rapid adoption of cloud-based middleware for quicker, more flexible, and scalable access to information will continue to drive the cloud-based deployment segment at a rapid pace., This segment will demonstrate the fastest growth at a promising CAGR of 12.9% and exceed US$ 6 Bn by the end of the assessed period. From around 26% market share in 2016, cloud-based segment is expected to reach a notable share of over 40% in 2024.

On the basis of application,

Consumption by the BSFI sector will account for the revenues worth US$ 5.23 Bn by 2024 end, making it the largest application segment with over 34% share in 2024 market revenues., IT and telecommunications, the second largest segment, is anticipated to achieve a value of nearly US$ 4 Bn that roughly accounts for over 26% market value share in 2024., The next key segments include government and retail. However, healthcare segment, thought the smallest one so far, will demonstrate the highest growth during the next eight years at an estimated 8.9% CAGR.

Regional analysis reaffirms the preeminence of North America, foreseen to capture over 38% value share in 2024, representing a value of over US$ 5.8 Bn. Europe will remain the second largest regional market for integration and orchestration middleware market with over 27% share in 2024. Asia Pacific, poised to register the highest CAGR of 7.6%, will also represent a sizeable market share of over 15%. Growth of middleware deployment markets in China, Japan, and India are primarily identified to boost the Asian market over the next few years.

Integration and orchestration middleware solutions will continue to gain traction with growing innovation in IoT things and rising demand for digitization. A relatively quicker fundamental shift to cloud-based middleware, coupled with API evolution, will be responsible for the flourishing market. To be competitive within marketplace, enterprise managers can encounter opportunities that come along with business automation middleware. Moreover, burgeoning use of cloud for better agility will open new avenues for the entire middleware market over the next few years.

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Influential trends, such as PaaS, DevOps, containerization, and MBaaS will provide a strong impetus to technological innovation and demand for integration and orchestration middleware. While emergence of microservices is expected to be one of the most popular techniques for faster creation and testing of applications especially in the midst of connected devices, introduction of consumerization will allow end-users with self-integration and automation of applications.

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Integrated machine learning is believed to hold a major potential to act as a replacement technology in the global integration and orchestration middleware market. With a strong backup of high level, effective integration and orchestration techniques in the arsenal, leading vendors can focus on large scale distribution and work on delivering innovative integration and orchestration solutions.

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