Global Service Orchestration Market Size to Reach USD 52.76 Billion in 2032 | Emergen Research
Growing complexity in IT Infrastructure is a major factor driving service orchestration market revenue growth
Vancouver, Sept. 12, 2023 (GLOBE NEWSWIRE) — The global service orchestration market size is expected to reach USD 52.76 Billion in 2032, and register a revenue CAGR of 27.1% during the forecast period, according to the latest analysis by Emergen Research. Growing complexity in IT Infrastructure is a major factor driving the market revenue growth. Real-time monitoring and auto-remediation solutions are used to avoid IT service delivery delays and failures, while detailed views and reports make it easier to identify consumption trends and optimize machine resources which is contributing to the market revenue growth.
When there are delays, overruns, underruns, or failures, IT can determine the root cause from a single spot rather than examining several tools. This has the potential to significantly increase response times. The service orchestration platform also reserves and allocates resources to ensure that Service Level Agreement (SLA)-critical activities are completed on time which also contributes to the market revenue growth.
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Growing technological advancements are another factor driving the market revenue growth. For instance, on 26 February 2023, Aarna Networks, a provider of edge computing and 5G management solutions, announced the release of its Aarna Edge Services (AES) solution. AES is Aarna’s Multi Cluster Orchestration Platform’s (AMCOP) Software-as-a-Service (SaaS) version. The platform assists enterprises in reducing operational expenses and improving time-to-market. The solution from Aarna Networks offers zero-touch edge orchestration and management. AES enables cloud edge users, colo users, and SD-WAN service providers including Aryaka to perform operations such as provisioning, configuring, and managing multi-cloud connectivity.
However, as the number of services and components involved in an orchestration process increases, so does the complexity of managing and coordinating them. Complex orchestrations are challenging to create, deploy, and manage which is a major factor restraining the market revenue growth
Scope of Research
|Market size in 2022||USD 4.80 Billion|
|Revenue forecast to 2032||USD 52.76 Billion|
|Base year for estimation||2022|
|Quantitative units||Revenue in USD Billion and CAGR in % from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Solution, enterprise size, industry, and region.|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Country scope||U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest o NEC Corporation f Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA|
|Key companies profiled||IBM, Cisco Systems, Inc., Hewlett Packard Enterprise Development LP, VMware, Inc., BMC Software, Inc., ServiceNow, Cisco Systems, Inc., Open Text, Huawei cloud, NEC Corporation.|
|Customization scope||10 hours of free customization and expert consultation|
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Major Companies and Competitive Landscape
The global service orchestration market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:
- Cisco Systems, Inc.
- Hewlett Packard Enterprise Development LP.
- VMware, Inc.
- BMC Software, Inc.
- Cisco Systems, Inc.
- Open Text.
- Huawei cloud.
- NEC Corporation.
- On 20 April 2023, Habu, the Global Innovator in Data Clean Room Software, announced a partnership with Google Cloud to integrate Habu’s Data Clean Room applications natively on Google Cloud’s BigQuery to scale data collaboration for businesses while maintaining the highest level of data privacy and governance. Habu’s Data Clean Room software was intended to make data collaboration safe and simple, allowing businesses to increase the velocity and value of data-driven initiatives by enabling them to work within and across distributed data environments to glean insights and execute advanced data science use cases with minimal resources.
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Some Key Highlights From the Report
- The service orchestration platform segment accounted for largest revenue share in 2022. Service orchestration platform is further segmented into cloud-based and on-premises and among them, cloud-based sub-segment is expected to register a robust CAGR during the forecast period. Cloud orchestration lowers total costs while expediting service delivery, automates management and coordination of complex hybrid settings, eliminates provisioning errors, and enables self-service service provisioning without IT intervention which is driving revenue growth of this segment. Cloud orchestration also aids in the prevention of VM sprawl by improving visibility into resource utilization across clouds.
- The large enterprise segment accounted for a significantly large revenue share in 2022. Large organizations use a variety of cloud services and suppliers. Service orchestration aids in effective management of these services, assuring seamless integration, and optimizing resource utilization across various cloud platforms which in turn is driving revenue growth of this segment. Service orchestration automates incident management, problem resolution, change management, and other IT operations, resulting in improved service delivery and lower operational costs which is also driving revenue growth of this segment.
- The Banking, Financial Services, and Insurance (BFSI) segment accounted for a significantly large revenue share in 2022. Rising demand for service orchestration automates repetitive and manual processes since it enables BFSI sector to streamline their workflows and reduce operational costs which is driving revenue growth of this segment. Automated processes lead to faster service delivery and improved customer experiences. People working from home and wanting to transact on their bank’s portal via their phone or laptop have mostly fuelled the shift to digital and mobile banking. Artificial Intelligence (AI)-powered chat and speech bots are assisting banks in providing customer assistance across many digital touchpoints, particularly mobile banking, without the need for a branch visit or contact center agents which is also driving revenue growth of this segment.
- Market in Asia Pacific accounted for a significantly large revenue share in 2022. Rising demand for service orchestration in various sectors such as BFSI, government, and healthcare among others is a major factor driving revenue growth of the market in this region. Increasing adoption of IoT devices and solutions and rising demand for enhanced customer experience are other factors driving the market revenue growth in this region. Moreover, growing strategic initiatives taken by the companies is also contributing to the market revenue growth of the region.
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For the purpose of this report, Emergen Research has segmented the global service orchestration market on the basis of solution, enterprise size, industry, and region:
- Solution Outlook (Revenue, USD Billion; 2019–2032)
- Service Orchestration Platform
- Professional Services
- Consulting & Advisory
- Integration & Deployment
- Support & Maintenance
- Managed Services
- Professional Services
- Service Orchestration Platform
- Enterprise Size Outlook (Revenue, USD Billion; 2019–2032)
- Small and Mid-Sized Enterprises
- Large Enterprise
- Industry Outlook (Revenue, USD Billion; 2019–2032)
- Retail & CPG
- Travel & Hospitality
- IT & Telecom
- Regional Outlook (Revenue, USD Billion, 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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