Global Workflow Management System Market – Industry Trends and Forecast to 2024

Market Analysis: Global Workflow Management System Market

The global workflow management system market accounted for USD 3.4 billion in 2016 growing at a CAGR of 22.6% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Market Definition: Global Workflow Management System Market

The workflow management system (WMS) is a piece of software that provides an infrastructure to setup, execute, and monitor scientific workflows. It also refers to integration of workflow systems, and applications which ensures integration of programs and people in the framework of a defined business process. Workflow management is advantageous over traditional workflow management as it provides cost savings, intangible benefits, and hidden savings. The increased focus on streamlining business processes, achieving cost-efficiency through workflow management among others is boosting the growth of this market.

Major Market Drivers & Restraints:

Increased Focus on Streamlining Business Processes
Achieving Cost-Efficiency Through Workflow Management
Increased Access to Information
Difficulty in Integrating New and Legacy Systems Through Workflows
High Implementation Costs

Market Segmentation: Global Workflow Management System Market

The global workflow management system market is segmented on the basis of software into production workflow systems, messaging-based workflow systems, web-based workflow systems, suite-based workflow systems and others.

On the basis of service, the global workflow management system market is segmented into IT consulting, integration & implementation, training & development.

On the basis of deployment, the global workflow management system market is segmented into cloud and on-premises.

On the basis of vertical, the global workflow management system market is segmented into Banking, financial services & insurance (BFSI), public sector, healthcare, energy & utilities, retail, IT & telecom, travel & hospitality, transportation & logistics, education and others.

On the basis of geography, global workflow management system market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

Company Share Analysis: Global Workflow Management System Market

The report for workflow management system market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.

Major Market Competitors: Global Workflow Management System Market

Some of the major players of the global workflow management system market are IBM Corporation, Oracle, Newgen Software Inc., Bizagi, Nintex Global Ltd, Pegasystems Inc. FUJISTU, TIBCO Software Inc., PNMsoft Ltd, Appian among others.

Research Methodology: Global Workflow Management System Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. 

Global Workflow Management System Market – Industry Trends and Forecast to 2024

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