Digital transformation initiatives in various end-user industries, increasing demand for streamlining business processes, and effectiveness of workflow orchestration in enhancing business productivity are strengthening the workflow orchestration market.
Workflow Orchestration Market Size – USD 15.89 Billion in 2018, Market Growth – CAGR of 23.9%, Market Trends – Increasing demand for digital innovation
The global workflow orchestra market is estimated to reach USD 81.66 Billion by 2026, according to a new Reports and Data report. Orchestration occurs when IT organizations aim to automate several coherent operations for supporting a result. This is a complex process that requires effective coordination and planning between IT officers. The workflow orchestration market is expected to witness a huge growth rate during the forecast period. The main factors contributing to market growth are the increasing demand for streamlining business processes, digital innovation initiatives in various end-user industries and the effectiveness of the orchestration of workflow in enhancing business productivity. Continued emphasis on end-user industries, in order to achieve a competitive lead, increases the acceptance and deployment of workflow orchestration solutions, driving market growth.
In addition to the specified factors, the various benefits associated with workflow orchestration also result in boosting market growth. The aforementioned advantages in this context are minimized organizational errors and improved operational speed. With the help of workflow orchestration integration, routine tasks can be automated, resulting in reducing the number of errors and improving the efficiency of IT staff. Having these benefits results in increasing demand for workflow orchestras in end-user industries, which positively affects market growth. The constant emphasis on end-users to launch new products also helps in expanding the market. One such launch is Azure Automation services, launched by Microsoft, a major market player. Under this new launch, orchestration, integration, and automation for the organizational environment becomes more effective and easy.
Regarding the region, Europe holds the second largest market share in the workflow orchestration market. The dominance in the regional market is a result of the presence of well -known professional software companies and information system providers in this region.
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Additional important findings from the report suggest
- The workflow orchestration market has a market share of USD 15.89 Billion in the year 2018, with a growth rate of 23.9% during the forecast period.
- In the context of Type, the Cloud Orchestration segment generated the highest revenue of USD 5.56 Billion in 2018 with a CAGR of 24.3% during the forecast period. Various benefits associated with Cloud Orchestration such as improved organizational performance, minimized business downtime, increased organizational productivity, and reduced operational costs result in its increased preference. The increased preference and the rising popularity of Cloud orchestration in the end-user industries is contributing to the revenue generated segment.
- Regarding Solutions, the Connectivity and integration segment dominates the market, yielding the highest revenue of USD 6.20 Billion in 2018 with a CAGR of 24.3% during the forecast period. The wide application of workflow orchestration solutions for connecting applications and systems in different departments of the organization results in a high rate of deployment of Connectivity and integration solutions. Thus, the high rate of deployment of Connectivity and integration solutions contributes to the revenue generated by this segment.
- In the context of the size of the Organization, the large business segment dominates the market covering a larger market share of 78.0% in 2018, with a growth rate of 15.7% during the forecast period. The market dominance of this segment is a result of the wide workflow, complex business processes in this type of business and the associated need for streamlining business processes for enhancing the functioning of this business. . The need for streamlining business processes in this type of enterprise results in high demand and deployment of workflow orchestration that contributes to the market share of the segment.
- Regarding End-users, the IT and Telecommunication segment occupied the largest market share of 20.0% in 2018, with the fastest CAGR of 24.8% during the forecast period. The market share held by the IT and telecommunication segments is a result of the high deployment rate of cloud-based business support systems, high emphasis on enhancing customer services and minimizing manual workload in the IT and Telecommunication industry. The increasing preference for reducing manual workload and improving customer service in the IT and Telecommunication sector has resulted in the rapid integration of workflow orchestration contributing to the market share and growth rate of the segment.
- Regarding the region, Asia Pacific is expected to witness the fastest growth rate of 26.4% during the forecast period. Factors such as increasing digital innovation, and increasing demand for high volume data processing are contributing to the growth of the market in this region.
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Key participants include IBM, Microsoft, Oracle, Cisco Systems, CA Technologies, Bmc Software, Arvato AG, Ayehu Software Technologies, Dalet SA, and ServiceNow.
For the purpose of this report, Reports and Data segmented the global workflow orchestration market by Type, Solutions, Organization Size, End-users, and Region:
Outlook Type (Revenue, USD Billion; 2020-2026)
- Business Process Orchestration
- Cloud Orchestration
- Network management
- Data Center Orchestration
- Security Orchestration
Types of Outlook Solutions (Revenue, USD Billion; 2020-2026)
- Visual interface
- Scale and performance
- Connectivity and integration
- Pre-built content
- Process automation
Outlook type on organizational size (Revenue, USD Billion; 2020-2026)
- Big Business
- Small and Medium Sized Businesses
End-user Outlook Type (Revenue, USD Billion; 2020-2026)
- Banking, Financial Services, and Insurance [BFSI]
- IT and Telecommunications
- E-Commerce, Consumer and Retail Products
- Media and Entertainment
- Manufacturing and Automotive
- Public Sector
- Healthcare and Pharmaceuticals
- Travel and Hospitality
- The others
Regional Outlook (Revenue, USD Million; 2020-2026)
- North America
- Europe
- Asia-Pacific
- MEA
- Latin America
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Regional Outlook (Revenue, USD Billion; 2018–2030)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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