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Workflow Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Workflow Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • November 2021
  • 143 pages
  • ID: 6185517
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

The global workflow management system market grew at a CAGR of around 21% during 2015 & 2020.

Workforce management (WFM) refers to a collection of tools and processes that enables an organization to monitor and centralize the data for their human resource utilization. It includes various performance-based software and tools to enhance the efficiencies of front-line supervisors, corporate management, managers and workers across the organization. It can perform multiple functions, such as workforce forecast and scheduling, HR management and workforce analysis. It can also create customized workflows that enhance overall productivity and make decision-making more efficient. Owing to this, it finds extensive applications across various industries, including banking, financial services, and insurance (BFSI), healthcare, transportation and logistics, energy, retail and information technology (IT) and telecom.

The growing need for automation across industries, along with the increasing adoption of cloud-based solutions, represents one of the key factors driving the growth of the market. With an increasing focus on workforce optimization, organizations are extensively employing WFM solutions to manage time and avoid duplication of tasks. Furthermore, cloud-based solutions minimize the requirements for physical hardware, which is also boosting the adoption of these solutions in organizations. The platform also reduces the overall operational costs and enhances the scalability of the infrastructure by providing access to various endpoints. Additionally, increasing penetration of smartphones, along with the prevailing trend of Bring-Your-Own-Devices (BYOD), is also creating a positive impact on the market growth. With the deployment of WFM solutions, the employer can track the progress on tasks at any point of time while providing the employees with secure access to official files. Other factors, including rapid urbanization, especially in developing economies, rising awareness about the benefits of WFM, and extensive research and development (R&D) activities in the field of IT, are expected to drive the market further. Looking forward, the analyst expects the global workflow management system market to exhibit strong growth during the next five years.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global workflow management system market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, component, deployment type and vertical.

Breakup by Component:
Software
Services

Breakup by Deployment Type:
Cloud-Based
On-Premises

Breakup by Vertical:
BFSI
Healthcare
Energy
Retail
IT and Telecom
Transportation and Logistics
Education
Others

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Appian Corporation, Bizagi (Vision Software S.A.), IBM Corporation, Newgen Software Technologies Limited, Nintex Global Limited, Oracle Corporation, Pegasystems Inc., Software AG and Xerox Corporation.

Key Questions Answered in This Report:
How has the global workflow management system market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global workflow management system market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global workflow management system market and who are the key players?
What is the degree of competition in the industry?

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