According to a new market report by Future Market Insights, the worldwide service orchestration market is expected to exceed USD 6.15 billion by 2023, growing at a CAGR of 27% from 2023 to 2033.
The increasing need for enhanced connection and flexible data interfacing in organizations is expected to drive market expansion in the coming years. Given this, FMI expects the service orchestration market to exceed USD 67 billion by 2033, with significant market participants including Cisco Systems, Juniper Networks, IBM Corporation, Huawei Technologies, and NEC. These firms are predicted to occupy more than 15% of the overall market share.
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The rising requirement for organizations to manage complex IT infrastructure, as well as the desire for enhanced data scaling solutions, are significant developments expected to boost sales of service orchestration solutions in the future years.
IT teams may use service orchestration software to simplify procedures, manage resources, and integrate individual jobs into end-to-end processes from a single point of control. Service orchestration is becoming increasingly popular as the IT sector evolves and linked devices become more complicated. Whether data is housed on-premises or in the cloud, automation and orchestration may help complicated business processes function smoothly.
Service orchestration software aims to integrate the administration of different processes and systems across on-premises and cloud-based settings. Enterprises are always confronted with IT infrastructure concerns such as integration and compatibility issues, ballooning IT expenses, and more sophisticated infrastructure. To solve these difficulties, organizations have begun to emphasise the use of service orchestration software to simplify all of their business operations.
Key Takeaways
- The United States is expected to dominate the North American market, accounting for more than 90% of the market until 2033.
- Sales of service orchestration solutions in the United Kingdom are predicted to increase at a staggering 31% CAGR by 2033.
- During the projection period, demand for service orchestration in China is expected to grow at an astounding 26% CAGR.
- In 2033, China will account for roughly 62% of East Asian sales.
- Between 2023 and 2033, the cloud-based service market is predicted to increase at a 25.8% CAGR.
“Need for service orchestration is predicted to grow throughout the assessment period due to the rising complexity of IT infrastructures and fast innovations in the ICT industry. Large companies also utilize service orchestration software to integrate the administration of heterogeneous systems and processes across on-premises and cloud-based environments.” Says FMI analyst.
Competitive Landscape
- BMC, an international pioneer in software offerings for the Automated Digital Enterprise, introduced innovative cloud data offerings and open-source connectors for Control-M, its cutting-edge usage and data workflow orchestration system, in September 2022. These novel functions allow non-IT business partners to have safe and autonomous self-service activities.
- Wipro is reported to have selected RISE with SAP in May 2022 to encourage development throughout its business portfolio.
Key Players
- Cisco Systems, Inc.
- Juniper Networks, Inc.
- Hewlett Packard Enterprise (HPE)
- Huawei Technology Co. Ltd.
- IBM Corporation
- NEC Corporation
- Ericsson
- MuleSoft, LLC
- Anuta Networks
- Netcracker
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Service Orchestration market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights By Solution (Service Orchestration Platform, Services), Enterprise Size (Small & Mid-sized Enterprises, Large Enterprises), Industry (BFSI, Retail & CPG, Healthcare, Government, Travel & Hospitality, IT & Telecom, Manufacturing) & Region.
Service Orchestration Market by Category
By Solution:
- Service Orchestration Platform
- Cloud-based
- On-Premises
- Services
- Professional Services
- Consulting & Advisory
- Integration & Deployment
- Support & Maintenance
- Managed Services
- Professional Services
By Enterprise Size:
- Small and Mid-Sized Enterprises (SMEs)
- Large Enterprises
By Industry:
- BFSI
- Retail & CPG
- Healthcare
- Government
- Travel & Hospitality
- IT & Telecom
- Manufacturing
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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