Process Orchestration Market Analysis

Process Orchestration Market Analysis

Among component, the solution market held a share of over 70% in 2018 and is expected to dominate the process orchestration market over the forecast timespan. The solution helps in standardizing, unifying, and automating the best practices for business processes in complex environments. It automates service delivery across the entire IT landscape and also enables organizations to provide new services with improved flexibility, augmenting the market demand. Companies operating in this market are involved in the process of new product development to enhance their product portfolio and meet the growing customer demands. For instance, in January 2019, NetSPI LLC, a leading orchestrated security testing and vulnerability management company, launched NetSPI Resolve, an end-to-end solution for orchestration and vulnerability management. This new solution enables the orchestration of cybersecurity across an entire organization aimed at shortening the vulnerability of management lifecycle and augmenting security. 

The SCM and order fulfillment business held a revenue of over USD 1 billion in 2018. Supply chains have become more international in terms of the partners involved in fulfilling and carrying an order. Companies aiming at pursuing growth need to deal with this global environment and the supply chain complexity including quicker lead times, expanded product portfolios, and increased options. The process orchestration solutions support in delivering a superior customer experience by enabling the company to coordinate and execute order orchestration processes across extended supply chain networks. It provides essential visibility into the supply chain processes ensuring positive customer experience. It also delivers a single order repository for modifying, canceling, tracking, and monitoring the order fulfillment in real-time, driving the process orchestration market demand.

The on-premise deployment model dominates the market with a share of over 70% in 2018. The on-premise model provides more process control, decreasing the likelihood of being unable to access mission-critical information and data on demand. This model can be customized as per the organization’s specific requirement, allowing the owner to be in complete control of the data and processes. However, with the changing technological landscape and higher business agility requirements, companies are now shifting their preferences toward cloud-based deployment models.
 

 The SMEs are anticipated to grow at the fastest rate in the market growing at a CAGR of over 17% between 2019 to 2025. The adoption of process orchestration solutions aids SMEs to integrate with the global market helping in gaining better and faster business insights to bolster real-time decision-making capabilities and capitalize on future opportunities. It assists in streamlining business processes, improving business efficiency, and reducing downtime, thereby contributing to the market growth.

The BFSI sector is anticipated to grow at the fastest rate in the process orchestration market between 2019 to 2025. The banking establishments across the globe are rapidly adopting various digital technologies and channels to increase their footprint and revenue. In addition, customer preference is shifting toward digital platforms. The banking sector has been increasingly investing in digital infrastructure compared to other industry verticals, driving the market demand. The adoption of process orchestration solutions assists in augmenting customer experience through efficient processes for loan origination, onboarding, credit card dispute resolution, and payment processing. It provides greater visibility and control over critical processes augmenting employee productivity, abolishing errors, and providing enhanced response time to customers.
 

North America leads the market accounting for over 30% of the market share in 2018. Organizations functioning in this region are moving toward digitalizing and realigning their business processes contributing to the market demand. The growing demand for cloud-based solutions and automation of industrial services also positively affects the market. Various leading process orchestration solution providers including IBM, Cisco, CA Technologies, and Oracle reside in this region, which has a major impact on market growth.