Workflow Management System Market - Global Industry Analysis

Workflow Management System Market

Global Workflow Management System Market: By Deployment, Share, Industry Size, Applications, Segments, Analysis and Forecast, 2018–2025

Category: Technology & Media Report Format : PDF Pages: 126 Report Code: ZMR-627 Published Date: Feb-2019 Status : Published

Workflow Management System Market

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The increasing online shopping has led the retailers to opt for solutions that streamline their delivery processes. In 2017, e-commerce sales across the globe were valued USD 2,304 billion in comparison to USD 1,845 billion in 2016. This number is projected to rise in the future, owing to the growing trend of mobile shopping. Furthermore, the acceptance of artificial intelligence (AI) by various retailers is likely to further pave the way for the workflow management system market globally over the estimated timeframe. The integration of AI with workflow systems offers numerous benefits to the retailers, such as cost reduction, repetitive task elimination, risk analysis, and maintaining schedule and budget. Amazon is one of the major e-commerce retailers to adopt the workflow management system technology. The company has integrated AI in numerous business processes. This, in turn, is anticipated to further drive the workflow management system market in the future.

The demand for workflow management systems is anticipated to rise, owing to the increasing use of technology in the transportation sector. Workflow management systems help organizations in this industry to reduce costs, automate routing, and track delivery. Rising investments made in this sector is also projected to fuel the workflow management system market growth. In 2018, the U.S. Department of transportation made investments of about USD 64 billion. Furthermore, free trade agreements between North America and the European Union will result in increased trade between various countries of both regions. 

Global Workflow Management System Market

The global workflow management system market is divided on the basis of deployment, component, and end-use industry. By deployment, the global workflow management system market is bifurcated into on-premises and cloud. Software and services comprise the component segment of the global workflow management system market. The end-use industry segment includes retail, BFSI, IT and telecom, healthcare, government sector, transportation, manufacturing, and others. The government sector is anticipated to grow notably in the future, owing to the increasing adoption of technology to simplify services offered by government various departments.

By region, the Asia Pacific region is anticipated to hold a substantial share of the global workflow management system market in the future. China and India are considered to have a huge product demand for workflow management system solutions in this region, owing to economic development and adoption of technology in numerous business sectors. Latin America is likely to witness significant growth in the workflow management system market over the estimated timeframe, owing to the lucrative investments made for technological advancements in Brazil and Argentina.

Some key players of the global workflow management system market are Xerox Corporation, Oracle Corporation, Software AG, Pegasystems Inc., IBM Corporation, Nintex Global Limited, Source code Technology Holdings, Inc., Appian, Bizagi, and Newgen Software Technologies Limited, among others.

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