Skip to main content

Workflow Management System Software Market to Hold Largest Market by 2021: Production Workflow Systems

According to recent research “Workflow Management System Market by Component (Software, Services), Software (Production, Messaging-Based, Web-Based, Suite-Based), Services, Deployment Type, Industry Verticals, and Region – Global Forecast to 2021”, The workflow management system market is estimated to grow from USD 3.51 Billion in 2016 to USD 9.87 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 23.0%.
Browse 66 market data tables and 55 figures spread through 161 pages and in-depth TOC on “Workflow Management System Market”
https://www.marketsandmarkets.com/Market-Reports/workflow-management-system-market-81240046.html
Early buyers will receive 10% customization on this reports.
The major forces driving this market include increased focus on streamlining business processes, achieving cost efficiency through workflow management, and increased access to information. The workflow management system software and services are used across diverse industrial verticals, such as government; legal sector; Banking, Financial Services, and Insurance (BFSI); public sector; healthcare; energy & utilities; retail; IT & telecom; travel & hospitality; transportation & logistics; education; and other industries, such as life sciences and communications & media.
Production workflow systems is estimated to hold the largest market size in the workflow management system software market in 2016
Production workflow systems are gaining traction among workflow management software as these systems support various functions and features that allow superior customization of business processes. These systems run in a broad range of computing environment and network.
Cloud deployment type is expected to be the largest contributor in the workflow management system market during the forecast period
The cloud deployment model is fast becoming an attractive option for the delivery of workflow management system, as it enables organizations to decrease the cost associated with IT infrastructure and its maintenance. Furthermore, cloud deployment is a major business driver for the workflow management market, as it empowers organizations to increase their businesses by offering workflow management system software to distributed enterprises spread across the world.
The North American region is expected to contribute to the maximum market share to the overall workflow management system market
The high adoption of cloud technology in North America, particularly in the U.S. and Canada, is the major reason for the continuous adoption of workflow management software and services by the end users. Furthermore, the market is in the emerging stage in the regions of Asia-Pacific (APAC), Latin America, and Middle East & Africa (MEA), owing to the increased focus on digital transformation initiatives and increase in IT investment.
The major vendors in the workflow management system market include Pegasystems Inc. (U.S.), Software AG (Germany), IBM Corporation (U.S.), Oracle Corporation (U.S.), and Xerox Corporation (U.S.).
Increased focus on digital transformation initiatives and growing adoption of cloud deployment model
Organizations around the globe are shifting their focus toward digital transformation and are realigning their processes so that digital transformation technologies can be accommodated within the workflow. Digital transformation essentially means incorporating digital technologies such as social media, data science, cloud deployment, mobile apps, and security into business processes to better fulfil business goals. Companies are expected to capitalize on the new opportunity of digital transformation in order to achieve significant business improvement. The digitalization of organizations has given rise to a clear opportunity to refine and streamline the various business activities through workflow management systems. Digitized documents enable faster access and collaboration with documents, regardless of time or location.
Cloud computing provides a flexible, on–demand computing infrastructure for a number of applications. Opportunities are also emerging for the migration of legacy on-premises workflow management system to the cloud mode. Most of the top vendors in the workflow management system market are now focusing toward the development of a complete suite that would have the ability to create, appraise, and enhance the digital properties via cloud-based offerings.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
1-888-600-6441
Email: sales@marketsandmarkets.com

Comments

Post a Comment

Popular posts from this blog

3D Imaging Market worth 16.6 Billion USD by 2020

According to a new market research report " 3D Imaging Market by Display Technology (Anaglyphy, Stereoscopy, Auto-stereoscopy), Imaging Solution (3D Modeling, 3D Scanning), Hardware (3D Display, 3D Sensor), Industry Vertical, & Region - Global Forecast to 2020" , defines and segments the 3D Imaging Market into various sub segments with an in-depth analysis and forecasting of market sizes. The report also defines the driving factors for the market, restraints, and opportunities along with the current adoption trends in this market. Browse 68 tables and 59 figures spread through 131 Pages and in-depth TOC on " 3D Imaging Market- Global Forecast to 2020" http://www.marketsandmarkets.com/Market-Reports/3d-imaging-market-998.html Early buyers will receive 10% customization on reports. MarketsandMarkets™ forecasts the 3D imaging market to grow from USD 4.9 Billion in 2015 to USD 16.6 Billion in 2020 , at a Compound Annual Growth Rate (CAGR) of 27.5% . N...
Post a Comment
Read more

Computer Aided Dispatch Market worth $ 1.95 Billion by 2022

According to recent research “ Computer Aided Dispatch Market  by Component (Solutions and Services), Application Area (Call Management, Dispatch Unit Management, Reporting and Analysis), Deployment Type, Organization Size, Vertical, and Region – Global Forecast to 2022″ , The CAD market size is expected to grow from USD 1.12 Billion in 2017 to USD 1.95 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.8%. Rise in criminal activities and natural disasters, and the advent of connected devices are the factors driving the growth of the CAD market. Moreover, the rise in the adoption of CAD solutions by Small and Medium-sized Enterprises (SMEs) has led to the increased adoption of CAD solutions. Browse 61 Market Data Tables and 26 Figures spread through 125 Pages and in-depth TOC on  “Computer Aided Dispatch Market” https://www.marketsandmarkets.com/Market-Reports/computer-aided-dispatch-market-4669389.html Early buyers will receive 10% custo...
Post a Comment
Read more

EMEA IoT Market: Emerging Trends | Global Future Forecasts | Challenges & Opportunities

According to recent research  “EMEA IoT Market by Component (Platform, Service, Software Solution), Application (Building & Home Automation, Smart Energy, Smart Manufacturing, Connected Logistics, Smart Retail, Connected Health), and Region (Europe and MEA) – Forecast to 2021” , The EMEA IoT market is projected to grow from USD 53.88 Billion in 2016 to USD 211.92 Billion by 2021, at a CAGR of 31.5% during the forecast period, from 2016 to 2021. Browse 81 market data tables and 46 figures spread through 139 pages and in-depth TOC on  “EMEA IoT Market” https://www.marketsandmarkets.com/Market-Reports/emea-iot-market-129681220.html Early buyers will receive 10% customization on this report. The market has been witnessing substantial growth in recent years, owing to the evolution of high speed network technologies and the rising adoption of cloud platforms. The market’s growth is also attributed to emerging markets in the Middle East, such as Saudi Arabia,...
Post a Comment
Read more