According to a recent market analysis conducted by Future Market Insights (FMI), the worldwide service orchestration market is expected to reach US$ 6.15 billion in 2023. The increasing need for improved connection and flexible data interfacing in companies is expected to drive market expansion in the coming years.
The fast growth of cloud computing technologies and the growing popularity of business automation services in companies will continue to boost sales of service orchestration solutions. Given this, FMI anticipates that the market will be valued more than US$ 4.1 billion by 2021.
Architectures and interfaces for service orchestration have been evolving at a faster pace in recent years. A key purpose of service orchestration is to provide dynamic and adaptable resource control and monitoring approaches.
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Businesses constantly strive to improve their cost-effectiveness as they expand. Service orchestration assists them in accomplishing this by delivering improvements in a consistent and dependable manner.
Service orchestration allows a wide range of enterprises to access on-demand services while lowering network ownership expenses. Multi-domain service orchestration also ensures help for software development and integration, allowing for faster service activation and greater agility. During the forecast year, these factors are projected to boost service orchestration sales in both large and small/medium-sized organizations (SMEs).
The advancement of cloud computing technology has provided organizations with an effective, scalable means of providing critical capabilities and services to their clients. The cloud has been easily interwoven into modern business. Cloud computing enables businesses to improve operational efficiency, reduce expenses, and boost data and processing flexibility.
Maintaining cohesive cloud operations has grown difficult due to the massive amounts of data created by numerous cloud environments. To tackle these issues, enterprises are constantly integrating advanced service orchestration platforms, which will continue to drive market expansion in the future years.
Key Takeaways:
- By solution, the service orchestration platform segment is anticipated to expand at a 23.2% CAGR through 2031.
- The large enterprise segment is projected to hold 57.5% of the total service orchestration market share.
- Demand for cloud-based services is expected to grow at a stupendous 25.8% CAGR through 2031.
- Applications of service orchestration in the IT and telecom sectors are expected to remain high, enabling sales at a 29.9% CAGR over the forecast period.
- The U.S. is anticipated to dominate the North American service orchestration market, accounting for 88.9% of the market share through 2031.
- Sales of service orchestration solutions in the U.K. are projected to increase at a 30.2% CAGR.
- China will emerge as an attractive service orchestration market, accounting for 58.8% of the East Asia market share in 2031.
- Demand for service orchestration in Japan and South Korea is forecast to grow at 21.8 CAGR and 25.9% CAGR respectively.
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Service Orchestration Market by CategoryBy Solution:
Service Orchestration Platform
- Cloud-based
- On-Premises
- Services
Professional Services
- Consulting & Advisory
- Integration & Deployment
- Support & Maintenance
- Managed 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 & Pacific
- Middle East and Africa (MEA)
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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