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Market Research Report

Global Workflow Management Software Market Outlook 2016-2024

Published On : 2018-02-20 Report Page : 280 Category: Hardware and ICT

Global Workflow Management Software Market 

Market Overview

As the global businesses landscape changes in an inter-connected economy, enterprises face complex challenges to maintain competitive advantages over rivals and to predict the growth and needs of an uncertain future. The workflow management solutions eliminate all manual and human error that would otherwise cost precious time and resources to address, which is the major driver of workflow management software in major large enterprises. The software marketplace today has evolved dramatically over the past decade; most of the workflow management software companies are offering month-to-month payment options and cloud deployment services, which is cost effective and the key factor for the adoption of workflow management software.

Goldstein Research analyst forecast the global workflow management software market to expand at a CAGR of 17.1% during the forecast period 2016-2024. Further, the market is anticipated to reach USD 6.4 billion by the end of forecast period. 

Covered in this Global Workflow Management Software Market Report

The report covers the present ground scenario and the future growth prospects of the workflow management software market for 2016-2024 along with the total revenue of workflow management software market in every region. We calculated the market size and revenue share on the basis of revenue generated per segment, regional and country level. The revenue forecast is given on the basis of number of workflow management Software companies and current growth rate of the market.

Global Workflow Management Software Industry Segmentation

By Deployment Type

  • On-Cloud
  • On-Premises

By Component Type

  • Software
    • Production Workflow Systems
    • Messaging-based Workflow Systems
    • Web-based Workflow Systems
    • Suite-based Workflow Systems
  • Services

By Organization Type

  • Small and Medium-Sized Enterprises (SMEs)
  • Large Enterprises

By End Users

  • BFSI
  • Healthcare
  • Retail
  • IT/Telecom
  • Transportation
  • Manufacturing Sector

 By Geography

  • North America (US, Canada) {Market Share (%), Market Size (USD Billion)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion)}
  • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion)}
  • Rest of the World{Market Share (%), Market Size (USD Billion))}

Based on deployment type, on-premises segment accounted for the maximum market share of 65% in 2016 and will continue to dominate the market during the forecast period. Moreover, on-cloud deployment in workflow management software market is projected to grow at a significant pace during the forecast period.

Global Workflow Management Software Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global workflow management software market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global workflow management software market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Our global workflow management software market report comprises of the following companies as the key players in the global workflow management software market: Pegasystems Inc., Software AG, IBM Corporation, Oracle Corporation, SourceCode Technology Holdings Inc., SAP, EMC Corp., Fujitsu, Tibco, Nintex Global Limited, Newgen Software Technologies Limited, Software AG and Xerox Corporation.

According to our global workflow management software market study on the basis of extensive primary and secondary research, one major trend in the market is the emergence of cloud based software and month-to-month payment options offered by the companies. It’s common to pay a one-time activation fee involved in a new account covering the cost of the account, setup expenses and training. With full implementation of software and services, nearly any system available can save a company up to tens of thousands of dollars.  

According to the report, major drivers in global workflow management software market are the growing need to decrease the complexity of working environment and to facilitate increase in productivity. Workflow management systems are designed specifically to dramatically improve the productivity of business workflow by bringing together various benefits that overcome common challenges experienced by a company.

Further, the report states that one challenge in global workflow management software market is high cost of some systems which usually require expensive application development and integration services from an external consultant.

Geographically, North America accounted for the largest market share with 35% revenue in global workflow management software market. Asia Pacific is anticipated to be the fastest growing region for workflow management software market, at a CAGR of +19% during the forecast period attribute to the fastest growing economies in the region and rising presence of big and medium sized enetrprises.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this global workflow management software market report

  • What is the total market size by 2024 and what would be the expected growth rate?
  • What is the total revenue per segment and region in 2015-16 and what would be the expected revenue per segment and region over the forecast period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities for the existing and entry level players?
  • What are the recent developments and business strategy of the key players?

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Global Workflow Management Software Market Outlook 2016-2024

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