According
to the new market research report "Workflow Orchestration Market
by Type (Cloud Orchestration, Data Center Orchestration, Business Process
Orchestration, and Security Orchestration), Organization Size (SMEs and Large
Enterprises), Vertical, and Region - Global Forecast to 2022", published
by MarketsandMarkets™, the workflow
orchestration market is estimated to be USD 13.81 Billion in 2017 and is
projected to reach USD 50.82 Billion by 2022, at a CAGR of 29.8% from 2017 to
2022.
The growth of the workflow
orchestration market can be attributed to the need to achieve improved business
outcomes and enhance operational efficiency as well as productivity level.
Based on type, the business process orchestration segment of the
workflow orchestration market is expected to witness the highest growth during
the forecast period.
Based on type, the business process orchestration
segment is projected to grow at the highest CAGR during the forecast period.
Business process orchestration refers to modeling, implementing, integrating,
and monitoring of custom process applications. It enables organizations to
significantly reduce time and cost needed to model and implement business
processes, services, and applications. Thus, the adoption of business process
orchestration by enterprises worldwide is projected to drive the growth of the
business process orchestration segment.
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in-depth TOC on "Workflow Orchestration Market"
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Based on organization size, the Small & Medium-sized Enterprises
(SMEs) segment of the workflow orchestration market is expected to grow at the
highest CAGR during the forecast period.
Based on organization size, the Small &
Medium-sized Enterprises (SMEs) segment of the workflow orchestration market is
projected to witness the highest growth during the forecast period. This growth
can be attributed to the adoption of workflow orchestration by SMEs to
streamline business processes, reduce downtime, and improve business
efficiency.
Based on vertical, the IT &
telecommunication segment is estimated to lead the workflow orchestration market in 2017.
Based on vertical,
the IT & telecommunication segment is estimated to lead the workflow orchestration
market in 2017. Companies in the IT & telecommunication vertical are
focused on the implementation of cloud-based business support systems. Leading
telecommunication companies are transforming their business functions by
adopting workflow orchestration to ensure high level of customer interaction
and reduce manual workload.
North America is estimated to lead the
workflow orchestration market in 2017.
North America is
estimated to lead the workflow orchestration market in 2017. The growth of the
workflow orchestration market in North America is primarily driven by the
presence of key players, such as IBM (US), VMware (US), Microsoft (US), Oracle
(US), and BMC Software (US), offering workflow orchestration solutions in this
region. The digitalization of organizations has created an opportunity to
refine and streamline various business activities through workflow automation
and orchestration. Several organizations in North American countries are opting
for workflow orchestration to reduce operational costs and achieve improved
business outcomes, which, in turn, is expected to drive the growth of the
workflow orchestration market in this region.
Key players operating in
the workflow orchestration market include Microsoft (US), IBM (US), Cisco
Systems (US), Oracle (US), VMware (US), CA Technologies (US), Arvato AG
(Germany), BMC Software (US), ServiceNow (US), Micro Focus (UK), Dalet SA
(France), and Ayehu Software Technologies (US).
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