The orchestration tools market was valued at US$ 2,647.2 million in 2017 and is projected to reach US$ 16,218.9 million by 2026, exhibiting a CAGR of 22.4% over the forecast period (2018-2026), according to Global Orchestration Tools Market Report, by Applications (Provisioning, Compliance Auditing, Management and Monitoring, Metering and Billing, Autoscaling), by Vertical Type (Banking, Financial Services, and Insurance (BFSI), Consumer Goods and Retail, Education, Government and Public Sector, Healthcare and Life Sciences, Manufacturing, Media and Entertainment, Telecommunication and ITES, and Others).
Orchestration tools are required to intelligently manage multiple cross domain workflows, processes and tasks by efficiently allocating services, resources and networking capacities at disposal. Increasing need to manage operations in cloud environment to ensure optimum utilization of the resources are among the key drivers for growth of the orchestration tools market during the forecast period (2018-2026).
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Key Trends and Analysis of the Global orchestration Tools Market:
- Among applications, provisioning is expected to be dominant segment in the market in the forecast period, due to increasing instances of fraudulent access to the cloud environment. For instance, according to Bureau of Justice Statistics (BJS) of the US, in 2015 alone, about 77,183 cybercrime incidences were recorded. Provisioning allows access to authenticated entities and helps protect mission critical data of businesses to be accessed by other parties. It involves the process of preparing and equipping a network to allow it to provide new services to appropriate users.
- Among verticals, banking, financial services, and insurance (BFSI) segment is expected to be dominant in the market, with largest market share throughput the forecast period (2018-2026). Increasing number of credit/ debit card frauds are expected to increase the adoption of orchestration tools for cloud infrastructure in BFSI institutions. This is evident from the fact that, in 2015, fraud losses incurred by banks and merchants on all credit, debit, and pre-paid general purpose and private label payment cards globally were worth US$ 21.84 billion, according to a report by Forbes. Furthermore, financial frauds leading to fraudulent access and increasing data loss, and this is expected to lead to high demand for such tools.
Key Takeaways of the Market:
- According to analysis, the market in North America accounted for the largest share in the global market and is expected to witness highest growth over the forecast period. The region being one of the early adopters of cloud technology, is also expected to progressively adopt orchestration tools. According to National Institute of Standards and technology (NIST) increasing number of enterprises are harnessing the benefits of orchestration tools and thus, aiding in boosting growth of the market in North America.
- The players in the market are offering orchestration tools with advanced features for resource orchestration, workload orchestration and services orchestration. IBM Corporation is one of the leading players in the industry offering competitive cloud orchestration tools with the names Chef and Chef is an automation platform that transforms complex infrastructures into code, thereby streamlining both servers and services. Chef automates configuration, deployment, and management of applications across the network.
- Some of the key players operating in the global spark plug wire industry include IBM Corporation, Hewlett Packard Enterprise Company, Oracle Corporation, Cisco Systems, Inc., Amazon Web Services, VMware, Inc., Computer Sciences Corporation, Red Hat, Inc., Servicenow, Inc., and BMC Software.