According to a recent market analysis by Future Market Insights (FMI), the global service orchestration market will surpass US$ 4 Bn in 2021. Over the upcoming years, it is anticipated that rising demand for better connectivity and flexible data interfacing in organizations will accelerate market growth.
In light of this, FMI projects that the service orchestration market will reach US$ 42.12 billion by 2031, with key market players including Cisco Systems, Juniper Networks, IBM Corporation, Huawei Technologies, and NEC. These businesses should control more than 15% of the market as a whole.
Sales of service orchestration solutions will continue to be driven by the rapid development of cloud computing technologies and the growing adoption of business automation services in organizations. Given this, FMI expects the market to be worth more than US$ 4.1 billion in 2021.
Architectures and interfaces for service orchestration have been developing more quickly in recent years. Providing dynamic and flexible resource control and monitoring mechanisms is a key goal of service orchestration.
As businesses grow, they continuously seek to increase their cost-effectiveness. Service orchestration helps them accomplish this by delivering improvements predictably and dependably.
A wide range of businesses can access on-demand services thanks to service orchestration, which lowers network ownership costs. Multi-domain service orchestration also guarantees support for software development and integration to speed up service activation and improve agility. These factors are expected to increase service orchestration sales in both large and small/medium-sized businesses (SMEs) during the forecast period.
The development of cloud computing technologies has given businesses an efficient, scalable way to deliver vital capabilities and services to their clients. The cloud has integrated seamlessly into the contemporary business. Organizations can use cloud computing to boost operational effectiveness, reduce costs, and increase data and processing flexibility.
Maintaining coherent cloud processes has become challenging due to the enormous amount of data generated by various cloud environments. Organizations are constantly integrating advanced service orchestration platforms to address these issues, which will continue to boost the market growth in the years to come.
Service Orchestration Market by Category
- Service Orchestration Platform
- Professional Services
- Consulting & Advisory
- Integration & Deployment
- Support & Maintenance
- Managed Services
- Professional Services
By Enterprise Size:
- Small and Mid-Sized Enterprises (SMEs)
- Large Enterprises
- Retail & CPG
- Travel & Hospitality
- IT & Telecom
- North America
- Latin America
- East Asia
- South Asia & Pacific
- the Middle East and Africa (MEA)