Service Orchestration Market growth statistics by application production revenue forecast to 2031

Considering this, FMI has forecast the service orchestration market to top US$ 42.12 Bn by 2031, 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.

Rapid advancements in cloud computing technologies, along with increasing adoption of business automation services in organizations will continue pushing sales of service orchestration solutions. Considering this, FMI has forecast the total market valuation to surpass US$ 4.1 Bn in 2021.

Over the past few years, development of service orchestration architectures and interfaces has been accelerating. A key motive of service orchestration is to enable dynamic and flexible resource control and monitoring mechanisms.

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Organizations continually seek to improve cost efficiency as they scale, and service orchestration enables them to achieve their goals by delivering those improvements with predictability and reliability.

Service orchestration reduces cost of network ownership and delivers on-demand services to a broad range of businesses. Moreover, multi-domain service orchestration ensures software development and integration support to streamline service activation and enhance agility. Owing to these factors, sales of service orchestration in large and small/medium enterprises (SMEs) are projected to rise over the forecast period.

The introduction of the cloud computing technologies has provided organizations with a reliable, effective solution to deliver essential capabilities and services to their customers, at scale. Cloud has become an intrinsic part of modern business. Cloud computing gives organizations the ability to improve their operational efficiency, cut costs, and increase data and processing flexibility.

With huge amount of data generated through multiple cloud environments, maintaining the coherent cloud processes has become a difficult task. To meet these challenges, organizations are continuously integrating advanced service orchestration platforms, which will continue augmenting growth of the market in the forthcoming years.

Service Orchestration Market by Category

By Solution:

• Service Orchestration Platform
  • Cloud-based
  • On-Premises
• Services
  • Professional Services
    • Consulting & Advisory
    • Integration & Deployment
    • Support & Maintenance
  • Managed Services

By Enterprise Size:

• Small and Mid-Sized Enterprises (SMEs)
• Large Enterprises

By Industry:

• BFSI
• Retail & CPG
• Healthcare
• Government
• Travel & Hospitality
• IT & Telecom
• Manufacturing
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)

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Key Questions Answered in the Report

• What is the current service orchestration market value?

The global service orchestration market is forecast to reach a valuation of US$ 4 Bn in 2021.

• At what rate did the service orchestration market grow between 2016 and 2020?

The service orchestration market expanded at an impressive 24.5% CAGR between 2016 and 2020.

• What are the key trends driving service orchestration sales?

Rising demand for cloud-based services, along with increasing adoption of automation services among large enterprises and SMEs are some key trends driving sales of service orchestration solutions.

• What will be the demand outlook for service orchestration market in North America?

North America is predicted to remain one of the most attractive markets during the forecast period. U.S. is expected to account for close to 88.9% of the North America market through 2031.

• What is the market share of leading players operating in the service orchestration market?

Top 5 players in the global service orchestration market are projected to hold over 15% of the total market share.