Process Orchestration Market
“The Business Research Company recently released a comprehensive report on the Global Process Orchestration Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company’s, the process orchestration market size has grown exponentially in recent years. It will grow from $4.60 billion in 2023 to $5.58 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%. The growth in the historic period can be attributed to rise of enterprise resource planning (ERP) systems, service-oriented architecture (SOA) adoption, business process management (bpm) movement, cloud computing emergence, increasing complexity of IT environments.
The process orchestration market size is expected to see rapid growth in the next few years. It will grow to $11.20 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to growing importance of cybersecurity orchestration, focus on customer journey orchestration, evolution of robotic process automation, continued emphasis on digital transformation, expansion of IoT ecosystems. Major trends in the forecast period include focus on explainable AI (XAI), event-driven architectures, deeper integration with robotic process automation, cross-platform and multi-cloud orchestration, and enhanced AI-driven decision making.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/process-orchestration-global-market-report
Market Drivers and Trends:
The growth in demand for digital transformation is expected to propel the growth of the process orchestration market going forward. Digital transformation is the process of integrating digital technologies into all areas of a business, fundamentally changing how it operates and delivers value to customers. Process orchestration is used as a critical component in digital transformation by providing a strategy to govern the coordinated and efficient execution of automation initiatives. It is used to enable organizations to streamline, automate, and optimize their business processes, leading to greater efficiencies and improved customer experiences. For instance, in October 2022, according to the International Data Corporation, a US-based provider of advisory services, global spending on digital transformation reached $1.8 trillion by the end of 2022 and is expected to rise to $2.8 trillion by 2025. Therefore, the growth in demand for digital transformation is driving the growth of the process orchestration market.
Major companies operating in the process orchestration market are focusing on the development of innovative AI (artificial intelligence) orchestration services, such as workflow orchestration services, to meet the increasing adoption of AI orchestration in various end-user industries. Workflow orchestration services refer to the use of tools, platforms, or systems that automate and manage the coordination, execution, and monitoring of workflows or business processes. For instance, in January 2024, Kyndryl Holdings, Inc., a US-based IT service management company, launched AI-enabled workflow orchestration services to automate business processes. AI-enabled workflow orchestration leverages artificial intelligence to enhance efficiency, productivity, and the user experience within the digital workplace. Additionally, it includes features such as a user-friendly interface, streamlined complex processes, real-time visibility, access controls, encryption, and usage. Also, this solution utilizes workflow capabilities and AI automation to reduce complexity, minimize cycle time, and optimize ROI (Return on Investment) by lowering training and development costs.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=14167&type=smp
Major Key Players of the Market:
International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Broadcom Inc., SAP SE, Fujitsu Limited, HCL Technologies Limited, Wipro Limited, ServiceNow Inc., Arvato AG, Open Text Corporation, Micro Focus International plc, BMC Software Inc., Software AG, TIBCO Software Inc., EQ Technologic India Private Limited, Cherwell Software LLC, Axios Systems PLC, Icaro Tech Tecnologia e Informação Ltda., Data Ductus AB, Cortex Business Solutions Inc., Everteam SAS, FlowForma Limited, Nipendo Ltd., Intellyx Corp., Dealflo Limited, Newgen Software Technologies Limited
Process Orchestration Market 2024 Key Insights:
• The process orchestration market is expected to grow to $11.20 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%.
• Digital Transformation Is Driving Accelerated Growth In The Process Orchestration Market
• Workflow Automation For Operational Excellence In Process Orchestration
• North America was the largest region in the process orchestration market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=14167&type=smp“
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (http://www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC’s consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
The post Global Process Orchestration Market to Reach $11.20 Billion with a 19.0% CAGR by 2028, Driven by Key Industry Factors appeared first on Web3Wire.
