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Cloud Orchestration market Size
The global cloud orchestration market grows due to rising demand for optimal resource use, increasing cloud adoption, and low-cost automation across industries.
WILMINGTON, DE, UNITED STATES, November 15, 2024 /EINPresswire / -- According to the report published by Allied Market Research, the global cloud orchestration market size was estimated at $14.98 billion in 2020 and is expected to hit $105.07 billion by 2030, registering a CAGR of 21.4% from 2021 to 2030.
The global cloud orchestration market is influenced by several factors such as growth in demand for optimum resource utilization, need for self-servicing provisioning and a surge in demand for low-cost process setup and automation. In addition, a number of lucrative benefits offered by cloud orchestration such as monitor, alert, and reporting on unexpected conditions to diagnose root cause, simplify data integrations and automatically apply policies for governance and security fuel the growth of this market.
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However, high initial investment cost and involvement of heterogeneous systems create challenges to providing both public and private cloud solutions thus causing difficulty in maintaining operational consistency are factors projected to hamper the growth of the global market to a certain extent. On the other hand, growth in cloud adoption and rise in demand for streamlined business processes are estimated to be opportunistic for the growth of the market.
Cloud orchestration tools help reduce the challenges organizations have had deploying automation tools by eliminating islands of automation in favor of a cohesive, cloud-wide approach that encompasses both public cloud and private cloud components. The rapid adoption of containerized, micro-services-based applications that communicate via APIs has created the demand for automation of deploying and managing applications across the cloud. This increase in complexity has created the demand for cloud orchestration software that can manage the dependencies across multiple clouds, with policy-driven security and management capabilities.
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COVID-19 scenario
1. Rise in remote working trends during the pandemic has given way to an increase in demand for cloud orchestration since it can provide necessary access to corporate resources to manage collaboration with integrated teams and maintain productivity. This, in turn, has impacted the global cloud orchestration market negatively.
2. This trend is quite likely to continue post-pandemic as well.
Asia-Pacific is expected to observe highest growth rate during the forecast period, due to the proliferation of connected systems fueled by ongoing trend of smart offices and homes in the region coupled with the government-driven infrastructural projects. The data generated by edge devices in different industry verticals across the region and increased consumer spending on smart solutions across the countries such as China, Australia, Japan, and India, fuel the growth of the market. In addition, emerging adoption of innovative technologies as well as ongoing digital transformation initiatives in Asian countries, such as Australia, Japan, China, and India, create increased demand for improved customer experiences fueling the demand for cloud orchestration.
By region, North America dominated in 2020, garnering nearly three-fifths of the global cloud orchestration industry. This is attributed to rise in the recognition of cloud orchestration across various verticals such as BFSI and Telecom in the region. The market across Asia-Pacific, however, is expected to cite the fastest CAGR of 24.9% throughout the forecast period, due to growing demand for advanced resource management systems and the workload shift toward the cloud environment.
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By service type, the configuration segment held the major share in 2020, garnering nearly half of the global cloud orchestration market. This is due to the high level of cost savings on total cost of ownership and increase in need for optimum resources utilization by several user types including small, medium, and large enterprises. The cloud service segment, on the other hand, is projected to cite the fastest CAGR of 22.7% throughout the forecast period.
By cloud, the public segment contributed to the lion's share in 2020, holding nearly half of the global cloud orchestration market. This is owing to significant adoption of public cloud platforms across various verticals such as healthcare and media & entertainment. However, the hybrid segment is projected to manifest the fastest CAGR of 23.1% from 2021 to 2030.
By organization size, the large enterprises segment dominated the growth in the Cloud Orchestration market in 2020, and is expected to maintain its dominance in the upcoming years. This is due to significant growth in deployment of cloud orchestration in large enterprises to support IoT or immersive experiences. However, SMEs segment is expected to witness highest growth rate during the cloud orchestration market forecast period. Intensely competitive scenario has primarily encouraged number of SMEs across the globe to increasingly invest in cloud orchestration solutions to reach their desired target audience.
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Key players in the industry
BMC Software, Inc.
Cisco Systems, INC.
HP Inc.
IBM Corporation
VMware, Inc.
Rackspace US, Inc.
Amazon Web Services, Inc.
Oracle Corporation
Flexiscale Technologies Limited
DXC Technology Company
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