PUNE, India, October 3, 2016 /PRNewswire/ --
According to a new market research report "Cloud Orchestration Market by Service Type (Cloud Service Automation, Reporting & Analytics, Training, Consulting & Integration, and Support & Maintenance), Application, Deployment Model, Organization Size, Vertical, & Region - Global Forecast to 2021" , published by MarketsandMarkets, the market size is estimated to grow from USD 4,950.5 Million in 2016 to USD 14,172.5 Million by 2021, at a CAGR of 23.4% during the forecast period.
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Browse 73 market data Tables and 54 Figures spread through 154 Pages and in-depth TOC on " Cloud Orchestration Market"
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The key forces driving the Cloud Orchestration Market include growing demand for optimum resources utilization, increasing need for self-service provisioning, and flexibility, agility, and cost-efficiency. Cloud orchestration services also provide scalability and flexibility to scale up or scale down the resources consumed. With the increase in the adoption rate of cloud orchestration among Small and Medium Enterprises (SMEs), the Cloud Orchestration Market is expected to gain major traction during the forecast period.
Reporting and analytics service is expected to contribute the largest market share
The reporting and analytics service has gained importance over the years owing to the need for improved decision-making, optimizing internal business process, increasing operational efficiency, and gaining competitive advantage. This service provides additional benefits such reduced time-consuming manual tasks, improved accuracy, management of heavy workloads, and increased business opportunity.
Compliance auditing segment is expected to grow at the highest rate during the forecast period
Among applications, the compliance auditing segment is expected to grow at the highest rate in the Cloud Orchestration Market during the forecast period. Compliance auditing allows enterprises to focus on their core businesses, service quality, and better end user experience while delivering optimized and quality IT services. Enterprises are impacted by compliance auditing and therefore systematic planning of regulation hurdles can be addressed with compliance automation.
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North America is expected to contribute the largest market share; Asia-Pacific (APAC) to grow the fastest
North America is expected to hold the largest market share and dominate the Cloud Orchestration Market from 2016 to 2021 owing to large investments in cloud-based solutions, early adoption of new & emerging technologies, and large number of players present in this region. The APAC region is in the initial growth phase; however, it is the fastest-growing region for the global Cloud Orchestration Market. The key reasons for the high growth rate in APAC are growing demand for automation of processes and rising cloud-based applications in region.
The major vendors providing cloud orchestration solutions and services are IBM Corporation (Armonk, New York, U.S.); HP Enterprise Company (Palo Alto, California, U.S.); Oracle Corporation (Redwood City, California, U.S.); Cisco Systems, Inc. (San Jose, California, U.S.); Amazon Web Services (Seattle, Washington, U.S.); VMware Inc. (Palo Alto, California, U.S.); Computer Sciences Corporation (Tysons, Virginia, U.S.); Red Hat, Inc. (Raleigh, North Carolina, U.S.); ServiceNow, Inc. (Santa Clara, California, U.S.); and BMC Software (Houston, Texas, U.S.).
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