Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Process Orchestration Market size is expected to reach $12.6 billion by 2028, rising at a market growth of 17.2% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 17.9% during (2022 - 2028). The process orchestration services offer services for orchestration technology for a range of strategies, and these strategies would ensure seamless operation and problem-solving for any interruptions in the solutions. These services related to cloud orchestration technologies aid in learning about the technologies that are fueling the market's expansion. This factor is augmenting the growth of this segment of the market.
The BFSI segment acquired maximum revenue share in the Global Process Orchestration Market by Vertical in 2021 thereby, achieving a market value of $3.2 billion by 2028. The rising growth of the segment is attributed to the fact that banking institutions all around the world are rapidly adopting a range of digital technologies and channels to expand their reach and income. Additionally, customers are favoring digital platforms more and more. Moreover, due to the rising complexity of processes within the BFSI sector, the adoption of these solutions and services in several sectors is increasingly expanding.
The SMEs segment has shown the growth rate of 19.1% during (2022 - 2028). The growth of the segment is increasing because adopting process orchestration solutions enables SMEs to better integrate with the market, enhancing the ability to make decisions quickly and to take advantage of new opportunities. It helps to streamline business operations, increase operational effectiveness, and decrease downtime, all of which support market expansion.
The On-premise segment is generating highest revenue share the Global Process Orchestration Market by Deployment Model in 2021 thereby, achieving a market value of $7.8 billion by 2028. The growth of this segment is surging because on-premise solutions offer increased access and security to business processes. The adoption of Process Orchestration solutions is made easier by the continuous systems and improved server maintenance offered by on-premises solutions. Therefore, this factor is playing a key role in driving the growth of this segment of the market.
The North America market dominated the Global Process Orchestration Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4.3 billion by 2028. The Europe market is exhibiting a CAGR of 16.4% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 18.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of SAP SE, International Business Machines Corporation, Oracle Corporation, Broadcom, Inc., Cisco Systems Inc, Fujitsu Limited, TIBCO Software Inc., Software AG, HCL Technologies Ltd., and Wipro Limited.
By Organization size
By Deployment Model
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