The global service orchestration market is projected to surpass US$ 4 Bn in 2021, finds Future Market Insights (FMI) in a recent market analysis. Increasing demand for improved connectivity and flexible data interfacing in organizations are projected to augment growth of the market over the forthcoming years.
| Base year (2020) Market Value | US$ 3.2 Bn |
| Projected year (2021) Market Value | US$ 4 Bn |
| Projected year (2031) Market Value | US$ 42.1 Bn |
| CAGR% (2021-2031) | 26.3% CAGR |
Considering this, FMI has forecast the service orchestration market to top US$ 42.12 Bn by 2031, with companies such as Cisco Systems, Juniper Networks, IBM Corporation, Huawei Technologies, and NEC emerging as key market players. Collectively, these companies are expected to hold over 15% of the total market share.
Rapid advancements in cloud computing technologies, along with increasing adoption of business automation services in organizations will continue pushing sales of service orchestration solutions. Considering this, FMI has forecast the total market valuation to surpass US$ 4.1 Bn in 2021.
Over the past few years, development of service orchestration architectures and interfaces has been accelerating. A key motive of service orchestration is to enable dynamic and flexible resource control and monitoring mechanisms.
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Organizations continually seek to improve cost efficiency as they scale, and service orchestration enables them to achieve their goals by delivering those improvements with predictability and reliability.
Service orchestration reduces cost of network ownership and delivers on-demand services to a broad range of businesses. Moreover, multi-domain service orchestration ensures software development and integration support to streamline service activation and enhance agility. Owing to these factors, sales of service orchestration in large and small/medium enterprises (SMEs) are projected to rise over the forecast period.
The introduction of the cloud computing technologies has provided organizations with a reliable, effective solution to deliver essential capabilities and services to their customers, at scale. Cloud has become an intrinsic part of modern business. Cloud computing gives organizations the ability to improve their operational efficiency, cut costs, and increase data and processing flexibility.
With huge amount of data generated through multiple cloud environments, maintaining the coherent cloud processes has become a difficult task. To meet these challenges, organizations are continuously integrating advanced service orchestration platforms, which will continue augmenting growth of the market in the forthcoming years.
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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 & Pacific
- Middle East and Africa (MEA)
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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