The global service orchestration market is projected to reach USD 6.15 billion in 2023, finds Future Market Insights (FMI) in a recent market analysis. Increasing demand for improved connectivity and flexible data interfacing in organizations are projected to augment the growth of the market over the forthcoming years.
Considering this, FMI has forecast the service orchestration market to top USD 67 billion by 2033, with companies such as Cisco Systems, Juniper Networks, IBM Corporation, Huawei Technologies, and NEC emerging as key market players. Collectively, these companies are expected to hold over 15% of the total market share.
| Attribute | Details |
|---|---|
| Base year (2022) Market Value | USD 4.8 billion |
| Projected year (2023) Market Value | USD 6.15 billion |
| Projected year (2033) Market Value | USD 67 billion |
| CAGR% (2023 to 2033) | 27% CAGR |
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The growing need to manage complex IT infrastructure in organizations, along with the demand for advanced data scaling solutions are key trends anticipated to drive sales of service orchestration solutions in the forthcoming years.
Owing to these factors, demand for service orchestration solutions is projected to rise at 27% CAGR between 2023 and 2033, in comparison to the 25% CAGR registered during 2018 to 2022.
Service orchestration software enables IT departments to streamline processes, monitor resources, and consolidate discrete tasks into end-to-end processes from a single point of control.
The rapidly evolving IT industry and increased complexity of connected devices are propelling demand for service orchestration. Automation and orchestration can make complex business processes run smoothly, whether data Is stored on-premises or in the cloud.
Service orchestration software is designed to unify the management of disparate processes and systems across on-premises and cloud-based environments. Enterprises are continuously facing several challenges associated with the IT infrastructure including integration and compatibility issues, skyrocketing IT budgets, and increasingly complex infrastructure. To address these challenges, organizations have started focusing more on the adoption of service orchestration software to streamline all their business processes.
Businesses and organizations are currently operating in highly complex network infrastructures. As tides of data continue to rise, businesses must transform through virtualization and automation to optimize the cost and scale of experiences that they want to create. Businesses must also manage mobile devices, apps, and a variety of voice and collaboration tools so that their teams can connect across geographies, platforms, and devices.
Moreover, a significant increase in the smartphone-using population around the world will encourage consumers to adopt 5G-enabled services. 5G-enabled services include autonomous driving, ultra-HD video, augmented reality, virtual reality, and artificial intelligence. The emergence of advanced technologies, such as augmented reality, the Internet of Things (IoT), autonomous vehicles, and various others is expected to boost demand for service orchestration in the forthcoming years
Furthermore, the wireless market has experienced remarkable growth and development in the past few years owing to the introduction of wireless mobile phone systems. A consistent rise in the number of subscriber
Principal Consultant
North America is predicted to remain one of the most attractive markets during the forecast period, according to FMI. The USA is projected to dominate the North American market, accounting for over 90% of the North American market through 2033.
Growth of the service orchestration market in the USA can be attributed to increasing investments in cloud-based solutions, the presence of a large number of players, and the early adoption of new and emerging technologies.
The USA is an extremely open market for digital transformation. Digital transformation in the country is creating lucrative opportunities for players operating in the services and the trend is expected to continue over the forecast period.
Sales of service orchestration solutions in the UK are expected to grow at a stupendous 31% CAGR by 2033.
Increasing adoption of cloud orchestration solutions, the rising popularity of the Internet of Things (IoT) technology, and the surge in demand for low-cost IT infrastructure are key factors augmenting the growth of the service orchestration market in the UK
Businesses in the UK, especially financial service providers, content and digital media, healthcare, and life sciences are expanding their digital infrastructure. This is expected to continue spurring demand for service orchestration solutions in the UK through 2033.
Demand for service orchestration in China is projected to increase at an impressive 26% CAGR during the forecast period.
In 2033, China will account for nearly 62% of sales in East Asia. Increasing government investments in the country’s telecom sector are broadening the scope for service orchestration.
5G technology has significant potential to transform the telecom industry and improve customer experience. Considering this, various telecom enterprises in China have started upgrading their current network infrastructure to LTE and 5G networks to offer high-speed connectivity.
Besides this, companies in China are also adopting artificial intelligence (AI) and machine learning (ML) technologies to manage, optimize and maintain telecom infrastructure and to improve customer operations. Ongoing investments in the telecommunication infrastructure in China will continue spurring demand for service orchestration solutions in the forthcoming years.
The cloud-based service segment is expected to grow at a prolific 25.8% CAGR between 2023 and 2033. Cloud service automation helps enterprises to accelerate the deployment of application-based services among traditional IT infrastructures and cloud delivery platforms.
It helps to manage the complete usage of cloud services and the lifecycle of deployment. Cloud-based services provide automation of IT processes which helps to maintain consistency in resource management.
Increasing demand for cloud-based solutions in SMEs and large enterprises is expected to boost sales of cloud-based services in the forthcoming years.
The large enterprises segment is expected to account for a dominant share of over 58% of the total service orchestration market in 2023. Service orchestration helps to unlock complex hybrid IT infrastructures. Complex IT structures are majorly adopted by large organizations. It helps IT departments to monitor resources, consolidate discrete tasks, and manage processes into end-to-end processes from a specific point of control.
Owing to the increasing complexity of IT environments and rapid developments in the ICT sector, demand for service orchestration is expected to rise over the assessment period. In addition to this, large enterprises use service orchestration software to unify the management of disparate systems and processes among on-premises and cloud-based environments.
The rising adoption of cloud-based services by large enterprises is estimated to augment the growth of the service orchestration market through 2033.
Sales of service orchestration in the IT and Telecom segment are expected to grow at a 30% CAGR, and the segment is projected to account for over 22% of the total market share in 2033.
Governments and public organizations in various countries are investing in the telecom sector to provide better connectivity to customers. The introduction of the 5G network is also broadening the scope of service orchestration in the IT & telecom sector.
Investments in the telecommunication sector can potentially boost economic growth and create employment. Furthermore, various telecom enterprises around the globe have started upgrading their current network infrastructure to LTE advanced and 5G networks and services with high-speed connectivity. This will continue providing tailwinds to service orchestration sales in the IT and telecom sectors over the forecast period.
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Companies operating in the service orchestration market are aiming at product innovation and strategic partnerships with other manufacturers to expand their product portfolios and gain a competitive edge in the market.
Manufacturers are also focusing on mergers & acquisitions to expand their global presence.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, Japan, South Korea, India, Indonesia, Singapore, Thailand, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Segments Covered | Solution, Enterprise Size, Industry, Region |
| Key Companies Profiled | Cisco Systems, Inc.; Juniper Networks, Inc.; Hewlett Packard Enterprise (HPE); Huawei Technology Co. Ltd.; IBM Corporation; NEC Corporation; Ericsson; MuleSoft, LLC; Anuta Networks; Netcracker |
| Customization & Pricing | Available upon Request |
The Asia Pacific region is projected to emerge as a lucrative market for service orchestration.
The growth potential of the service orchestration market is 27% through 2033.
The high cost of adoption and the lack of skilled professionals are likely to limit market growth.
North America is likely to generate 35% revenue in the service orchestration market in 2023.
Substantial investment in research and development and the expansion into new markets may provide growth prospects for the market players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Solution 5.1. Platform 5.1.1. Cloud-based 5.1.2. On-Premises 5.2. Services 5.2.1. Consulting & Advisory 5.2.2. Integration & Deployment 5.2.3. Support & Maintenance 5.2.4. Managed Services 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size 6.1. Small and Mid-Sized Enterprises (SMEs) 6.2. Large Enterprises 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry 7.1. BFSI 7.2. Retail & CPG 7.3. Healthcare 7.4. Government 7.5. Travel & Hospitality 7.6. IT & Telecom 7.7. Manufacturing 7.8. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Cisco Systems, Inc. 18.2. Juniper Networks, Inc. 18.3. Hewlett Packard Enterprise (HPE) 18.4. Huawei Technology Co. Ltd. 18.5. IBM Corporation 18.6. NEC Corporation 18.7. Ericsson 18.8. MuleSoft, LLC 18.9. Anuta Networks 18.10. Netcracker 19. Assumptions & Acronyms Used 20. Research Methodology
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Service Orchestration Market
