Workflow Management System Market Size - By Component (Software, Service), By Deployment (On-premises, Cloud), By End-Use (BFSI, Retail, Education, IT & Telecom, Healthcare, Transportation) & Global Forecast, 2023

Description

List of Tables

Global Workflow Management System Market size will expand considerably through 2032. Rapid industrial expansion is creating a plethora of opportunities for market growth. Workflow management systems automate routine tasks, eliminate manual handoffs, and provide real-time visibility into work progress. This results in improved efficiency, reduced lead times, and increased productivity, enabling organizations to meet growing demands effectively. Moreover, growing audit requirements in organizations have further propelled the adoption of workflow management systems.

The overall workflow management system market is divided based on component, deployment, end-use, and region.

Based on the component, the industry size from the service segment reached over USD 3 billion in 2022. Growing demand for professional workflow management system services is contributing to segment growth. Professional services customize the workflow management system to align with the organization's specific workflows, business rules, and requirements. They configure the system to accommodate complex processes, automate tasks, and integrate with other existing systems and software applications. This seamless integration ensures data consistency, reduces manual efforts, and improves overall operational efficiency.

Based on deployment, the industry size from the on-premises segment reached over USD 2.5 billion in 2022. High customization and flexibility in on-premise workflow management systems have favored its adoption. With an on-premise workflow management system, organizations can have full control over their data. They can store sensitive or confidential information within their infrastructure, allowing them to implement robust security measures and data protection protocols. This offers greater control and peace of mind, particularly for industries with strict compliance requirements or organizations with sensitive data.

With respect to end-use, industry value from the IT & telecom segment will register significant gains through 2032. Workflow management systems offer features such as audit trails, document control, and access permissions, which help organizations adhere to regulatory frameworks, maintain data integrity, and demonstrate compliance during audits. Growing need for compliance management in the IT & telecom sector has increased the demand for workflow management systems.

On the regional front, Europe workflow management system market share will grow at a lucrative CAGR from 2023 to 2032. Flourishing automation trends across the industrial sector is presenting new pathways for regional growth. Surging investments by the governments of several regional economies in digitalization have also increased the demand for workflow management systems in the region. Moreover, the strong presence of industry players such as SAP SE and others constantly focusing on product innovations is working in favor of regional expansion.

Product Code: 5725

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data Sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Workflow management system market 360 degree synopsis, 2018 - 2032
2.2 Business trends
- 2.2.1 Total Addressable Market (TAM)
2.3 Regional trends
2.4 Component trends
2.5 Deployment trends
2.6 End-Use trends

Chapter 3 Workflow Management System Market Insights

3.1 Impact on COVID-19
3.2 Russia-Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
- 3.10.1 Growth drivers
  - 3.10.1.1 Increased focus on streamlining business processes
  - 3.10.1.2 Emphasis on process optimization
  - 3.10.1.3 Focus on regulatory compliance
  - 3.10.1.4 Demand for better customer service
  - 3.10.1.5 Increasing adoption of cloud based solutions
- 3.10.2 Industry pitfalls & challenges
  - 3.10.2.1 Security concerns
  - 3.10.2.2 High implementation costs associated with workflow management system
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
- 4.3.1 Bosch
- 4.3.2 IBM
- 4.3.3 Micro Focus International Plc
- 4.3.4 Oracle
- 4.3.5 Pegasystems Inc.
- 4.3.6 SAP SE
- 4.3.7 Software AG
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022

Chapter 5 Workflow Management System Market, By Component (USD Million)

5.1 Key trends, by component
5.2 Software
- 5.2.1 Production Workflow Systems
- 5.2.2 Business Process Management (BPM) Systems
- 5.2.3 Analytics & reporting Systems
- 5.2.4 Web-based Workflow Systems
- 5.2.5 Others
5.3 Service
- 5.3.1 Consulting & Advisory
- 5.3.2 Support & Maintenance
- 5.3.3 Training & Education

Chapter 6 Workflow Management System Market, By Deployment (USD Million)

6.1 Key trends, by deployment
6.2 On-premises
6.3 Cloud

Chapter 7 Workflow Management System Market, By End-Use (USD Million)

7.1 Key trends, by end-use
7.2 BFSI
7.3 Retail
7.4 Education
7.5 IT & Telecom
7.6 Healthcare
7.7 Transportation
7.8 Others

Chapter 8 Workflow Management System Market, By Region (USD Million)

8.1 Key trends, by region
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Netherlands
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 ANZ
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
8.6 MEA
- 8.6.1 GCC
- 8.6.2 South Africa

Chapter 9 Company Profiles

9.1 Appian
9.2 Asana Inc.
9.3 Bizagi
9.4 Bosch
9.5 Fujistu
9.6 Happierwork
9.7 IBM
9.8 Integrify
9.9 Micro Focus International Plc
9.10 Oracle Corp
9.11 Pegasystems
9.12 SAP SE
9.13 Software AG
9.14 Tibco Software
9.15 Zoho ltd