The global process orchestration market is expected to gain massive momentum in the years to come owing to the increasing adoption of advanced technologies like AI and machine learning, along with rising demand for enhancing business agility
Ocean View, DE -- (SBWIRE) -- 05/21/2020 -- The global process orchestration market is expected to gain massive momentum in the years to come owing to the increasing adoption of advanced technologies like AI and machine learning, along with rising demand for enhancing business agility. Companies nowadays are massively adopting process orchestration tools for improving efficiency of the businesses by increasing the speed of task completion and lowering expenses.
The AI-powered process orchestration solutions help processes to become more precise, increasingly intelligent and easily adaptable to changes. This business model increases enterprise efficiency and productivity by reducing operating costs. Increasing demand for AI-powered solutions for transforming business processes will positively boost process orchestration market.
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The finance services segment has observed drastic technology-led changes over the past few years. Deploying big data platforms that are designed using machine learning help to analyze massive data sets to deliver accurate and timely financial reports and services to businesses. process orchestration market share from the finance & accounting segment is anticipated to register more than 15% CAGR between 2019-2025.
Key Companies: - Arvato, Ayehu Software Technologies, Ltd., BMC Software, Inc., CA Technologies, Cisco, Cortex, Dealflo, eQ Technologic, Inc., Fujitsu, HCL, IBM, Icaro Tech, Micro Focus, Newgen Software Technologies Limited, Nipendo, OpenText Corp., Oracle, SAP, ServiceNow, Software AG, Wipro Limited,
The implementation of intelligent AI-powered tools in this segment makes data more actionable and accessible and offers data-driven analytics to gain more insights and attract new generation finance analysts. Process orchestration market outlook is poised to witness considerably impact due to the growing adoption these practices for managing and facilitating the end-to-end financial process by automating financial workflows and simplifying financial reporting tasks.
Process orchestration market from the consumer goods & retail sectors is anticipated to register more than 14% CAGR over the forecast period. The adoption of process orchestration solutions will allow e-commerce companies to transform their business models with ease.
Rising demand for these solutions will help to fulfill orders quickly, enhancing the customer shopping experience, managing shipping costs effectively, and recognizing new revenue-generating streams. Such advancements and steps taken to improve retail sector complexities are likely to propel process orchestration market forecast.
In terms of regional landscape, Asia Pacific process orchestration market is estimated to reach a rapid pace with a CAGR of more than 18% during projected timeframe. Growing demand for industrial automation, rapid globalization, and strategic government initiatives towards the manufacturing sector are some of the key factors contributing to market demand.
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The growing awareness among small and medium scale enterprises regarding process orchestration merits such as improved business planning, removing of process redundancy, monitoring supply chain performance will act as a propelling factor for APAC process orchestration market. In addition, numerous companies operating in this region are also investing massively in AI technology to thrive in a highly competitive digital environment.
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