Competitive Landscape: Global Business Process Orchestration Market Projected to Grow at a Substantial Rate by 2026
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Business process orchestration is increasingly playing a direct role in how a company organizes work and involves computer and human resources. A widely accepted architecture is to have a business process orchestration engine that organizes the process by calling upon human resources and computing resources to perform actual tasks.
Business process orchestration helps empower enterprises and to efficiently plan their business processes. It also helps improve operational efficiency and streamline business processes, which enable companies to utilize their IT systems for cater to their customers’ dynamic requirements.
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The business process orchestration market is projected to expand, owing to the rise in deployment of adequate business solutions by organizations to reduce operational costs and effectively utilize their IT resources. Increase in adoption of business process automation technologies by enterprises to improve efficiency, quality of internal operations, and interactions with other enterprises and customers, as they engage in e-business transactions are some factors driving the market during the forecast period. However, misconception around business process orchestration and rise in regulations & compliance requirements are expected to hinder the market during the forecast period.
The global business process orchestration market can be segmented based on component, deployment model, enterprise size, vertical, business function, and region. In terms of component, the business process orchestration market can be bifurcated into software/platform and services (managed services and professional services). Based on deployment model, the business process orchestration market can be divided into on-premise and cloud. In terms of enterprise size, the market can be categorized into small medium enterprises (SMEs) and large enterprises. Based on vertical, the business process orchestration market can be classified into BFSI, government & education, health care, telecom & IT, retail, manufacturing, media & entertainment, and others (business service providers, energy & utility, and transportation). In terms of business function, the business process orchestration market can be segregated into supply chain management and order fulfillment, marketing, human resource management, finance and accounting, and customer service and support.
Based on region, the global business process orchestration market can be categorized into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to constitute a major share of the global business process orchestration market during the forecast period. This is due to significant investments in cloud-based solutions, presence of a large number of players in this region, and the region is extremely responsive toward the adoption of latest technology. The business process orchestration market in Asia Pacific is anticipated to expand at rapid pace during the forecast period. This can be attributed to rapid economic developments, digitalization, globalization, and increase in adoption of cloud-based technologies in the region. Furthermore, rise in need for effective utilization of IT infrastructures and cost optimization is expected to propel the demand for process orchestration solution and its associated services.
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Key players operating in the global business process orchestration market include SAP, IBM Corporation, Oracle Corporation, CA Technologies , ServiceNow, Cisco System Inc., BMC Software, Fujitsu Ltd., OpenText Corporation, TIBCO, Software AG, HCL, Newgen Software, Everteam, and Arvato.
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