Cloud Orchestration Market Is Projected to Reach USD 105,071.00 Million by 2030 | Top Players such as – IBM, ORACLE
Growth in cloud adoption and demand for streamlined business processes are estimated to be opportunistic for the market’s growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 3, 2023 /EINPresswire.com/ — According to the report published by Allied Market Research, the global cloud orchestration market 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.
Rise in demand for optimum resource utilization, increase in cloud adoption across several industry verticals, and surge in demand for low-cost process setup & automation drive the growth of the global cloud orchestration market.
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On the other hand, the lack of IT infrastructure in underdeveloped nations and the dearth of technical skills for effective cloud orchestration restrain growth to some extent. However, increased IN demand for streamlined business processes among SMEs is anticipated to pave the way for lucrative opportunities in the industry.
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 the total cost of ownership and the increase in the need for optimum resource 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.
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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 the significant adoption of public cloud platforms across various verticals such as healthcare and media & entertainment. However, the hybrid segment will manifest the fastest CAGR of 23.1% from 2021 to 2030.
By region, North America dominated in 2020, garnering nearly three-fifths of the global cloud orchestration industry. This is attributed to rising in 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.
COVID-19 scenario:
• Rise in remote working trend 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.
• This trend is quite likely to continue post-pandemic as well.
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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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