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$3.85 Bn Cloud Workflow Market - Global Forecast to 2023: Rising Use of the AI Technology & Growing Focus on Digital Transformation InitiativesDUBLIN, Oct. 17, 2018 /PRNewswire/ -- The "Cloud Workflow Market by Type (Platform and Services), Business Workflow (HR, Accounting & Finance, Sales & Marketing, Customer Service & Support, Operations), Organization Size, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The cloud workflow market is expected to grow from USD 1.75 billion in 2018 to USD 3.85 billion by 2023, at a CAGR of 17.1% during the forecast period. It is expected to witness significant growth, due to factors such as the increasing adoption of cloud-based workflows, increasing adoption of cloud-based workflow from the SMEs, and the growing focus on streamlining workflows and business processes. The rising use of Artificial Intelligence (AI) presents new business opportunities, and growing focus on digital transformation initiatives are expected to provide growth opportunities for cloud workflow vendors. Cloud workflow helps enterprises administer, define, and coordinate business processes without the need of a base platform. The cloud workflow platform offers functionalities such as real-time visibility, and improved efficiency and performance. With the increasing competition and growing regulations around the globe, enterprises are looking for process improvement solutions that not only drive processes but also help enterprises keep pace with the growing regulations. Traditionally, processes were carried out manually, consumed a large amount of time and money, and were prone to errors as manual labor was involved. With the emergence of cloud workflow solutions, enterprises can automate processes, resulting in higher efficiency. The cloud workflow market is gaining traction owing to the growing need for streamlined business processes. Organizations are burdened with repetitive work procedures that reduce the efficiency and prolong the time required to accomplish business operations, which is why they are increasingly considering the transformation of conventional cloud workflows to automate the functioning of business processes and assist the management in efficient decision-making. Cloud workflow solutions offer informatio management and document management and blend seamlessly with existing operations. Organizations are receptive toward the adoption of cloud workflow as it provides several benefits, such as enhanced employee collaboration and communication, as well as, real-time secured access to information. These benefits enhance the decision-making process and help organizations gain a competitive advantage over others, which is essential to face the dynamic business landscape. The cloud workflow market has been demonstrating considerable growth, but the lack of a secure cloud may restrain the growth of this market. 1 Introduction For more information about this report visit https://www.researchandmarkets.com/research/vkfmc6/3_85_bn_cloud?w=5 Did you know that we also offer Custom Research? Visit our Custom Research page to learn more and schedule a meeting with our Custom Research Manager. Media Contact: Research and Markets View original content:http://www.prnewswire.com/news-releases/3-85-bn-cloud-workflow-market---global-forecast-to-2023-rising-use-of-the-ai-technology--growing-focus-on-digital-transformation-initiatives-300732880.html SOURCE Research and Markets |