Workflow Management Systems Market size to grow by USD 9,469.9 million from 2022 to 2027, North America to account for 31% of the market growth - Technavio

NEW YORK, May 19, 2023 The workflow management systems market size is expected to grow by USD 9,469.9 million from 2023-2027. The market is expected to be progressing at a CAGR of 22.21% as per the latest Technavio market research report. North America is estimated to account for 31% of the market's overall growth. Owing to the growing need to modernize business processes, workflow management systems adoption is on the rise. Along with this, the continued adoption of cutting-edge technologies in various end-user industries including BFSI, government, healthcare, legal, etc., will drive the market in the region during the forecast period. Organizations in the region are increasingly using automated solutions that collect and analyze vast amounts of data to gain insight into their workflows. Furthermore, since the amount of data generated across industries such as BFSI, government, healthcare, and legal is increasing, companies in these industries look to integrate workflow management systems solutions with other advanced technologies such as analytics. For more insights on the market share of various regions- Download a sample report in MINUTES

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Workflow Management Systems Market: Increasing demand for process automation and digital transformation to drive growth

• Increasing demand for process automation and digital transformation is a significant driving factor for the workflow management systems market growth.
• Organizations can speed up business processes as well as improve the accuracy and consistency of results by eliminating manual intervention in complex, repetitive workflows through automation.
• The growing need for businesses to automate workflow processes and respond to changing customer demands is expected to drive the adoption of various technologies including RPA and AI during the forecast period.
• Thus, the rising demand for automation and digital transformation is one of the major drivers behind the growth of the market during the forecast period.

Workflow Management Systems Market: Emergence Of Mobile WMS Solutions 

• The emergence of mobile workflow management systems solutions is an emerging trend that is influencing the workflow management systems market growth.
• Technological advances boost the adoption of connected devices and real-time data sharing in order to help in fast and reliable workflow decision-making.
• Similarly, the increasing adoption of telecommuting models in offices, and the integration of digital technologies paired with the shift towards catering to consumers worldwide increases the need to perform workflow tasks anytime and anywhere.
• These changes allow smart devices such as mobile phones, tablets, laptops, and other digital assets to be accepted into workflow processes.
• Hence, the increasing adoption and reliance on smart devices are accelerating the adoption of mobile workflow management systems, enabling employees to work from anywhere while being connected to corporate data in real time.

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Some of the key Workflow Management Systems Market Players:

The workflow management systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Appian Corp., Automation Anywhere Inc., Bizagi Group Ltd., Dell Technologies Inc., Fortra LLC, Fujitsu Ltd., HP Inc., International Business Machines Corp., monday.com Ltd., Newgen Software Technologies Ltd., Nintex Global Ltd., Oracle Corp., Pegasystems Inc., Robert Bosch GmbH, SAP SE, Software AG, Vista Equity Partners Management LLC, Xerox Holdings Corp., Zoho Corp. Pvt. Ltd., and PairSoft

Workflow Management Systems Market: Segmentation Analysis

This workflow management systems market report extensively covers market segmentation by deployment (on premise and cloud), end-user (BFSI, government, healthcare, legal, education, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market share growth by the on-premise segment will be significant for overall market growth during the forecast period. The main contributing factor to the high demand is that large organizations need to control and own the operations and processes as well as the data generated and stored by their business applications. This segment of workflow management systems is mainly used in large enterprises and thus, large companies with a global footprint are expected to drive the demand for on-premise workflow management systems solutions during the forecast period.

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition
• 3.2 Market segment analysis
• Exhibit 13: Market segments
• 3.3 Market size 2022
• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global workflow management systems market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global workflow management systems market 2017 - 2021 ($ million)
• 4.2 Deployment Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)
• 4.3 End-user Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
• 5.2 Bargaining power of buyers
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
• 5.3 Bargaining power of suppliers
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
• 5.4 Threat of new entrants
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
• 5.5 Threat of substitutes
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Deployment

• 6.1 Market segments
• Exhibit 30: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Deployment - Market share 2022-2027 (%)
• 6.2 Comparison by Deployment
• Exhibit 32: Chart on Comparison by Deployment
• Exhibit 33: Data Table on Comparison by Deployment
• 6.3 On premise - Market size and forecast 2022-2027
• Exhibit 34: Chart on On premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on On premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on On premise - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on On premise - Year-over-year growth 2022-2027 (%)
• 6.4 Cloud - Market size and forecast 2022-2027
• Exhibit 38: Chart on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Cloud - Year-over-year growth 2022-2027 (%)
• 6.5 Market opportunity by Deployment
• Exhibit 42: Market opportunity by Deployment ($ million)
• Exhibit 43: Data Table on Market opportunity by Deployment ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 44: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 45: Data Table on End-user - Market share 2022-2027 (%)
• 7.2 Comparison by End-user
• Exhibit 46: Chart on Comparison by End-user
• Exhibit 47: Data Table on Comparison by End-user
• 7.3 BFSI - Market size and forecast 2022-2027
• Exhibit 48: Chart on BFSI - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on BFSI - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on BFSI - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on BFSI - Year-over-year growth 2022-2027 (%)
• 7.4 Government - Market size and forecast 2022-2027
• Exhibit 52: Chart on Government - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Government - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Government - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Government - Year-over-year growth 2022-2027 (%)
• 7.5 Healthcare - Market size and forecast 2022-2027
• Exhibit 56: Chart on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)
• 7.6 Legal - Market size and forecast 2022-2027
• Exhibit 60: Chart on Legal - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Legal - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Legal - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Legal - Year-over-year growth 2022-2027 (%)
• 7.7 Education and others - Market size and forecast 2022-2027
• Exhibit 64: Chart on Education and others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Education and others - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Education and others - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Education and others - Year-over-year growth 2022-2027 (%)
• 7.8 Market opportunity by End-user
• Exhibit 68: Market opportunity by End-user ($ million)
• Exhibit 69: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)
• 9.2 Geographic comparison
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison
• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)
• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)
• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 83: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on APAC - Year-over-year growth 2022-2027 (%)
• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 87: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America - Year-over-year growth 2022-2027 (%)
• 9.7 Middle East and Africa - Market size and forecast 2022-2027
• Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• 9.8 US - Market size and forecast 2022-2027
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)
• 9.9 Germany - Market size and forecast 2022-2027
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)
• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)
• 9.11 China - Market size and forecast 2022-2027
• Exhibit 107: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on China - Year-over-year growth 2022-2027 (%)
• 9.12 India - Market size and forecast 2022-2027
• Exhibit 111: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on India - Year-over-year growth 2022-2027 (%)
• 9.13 Market opportunity by geography
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers
• 10.2 Market challenges
• 10.3 Impact of drivers and challenges
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027
• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview
• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption
• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered
• 12.2 Market positioning of vendors
• Exhibit 122: Matrix on vendor position and classification
• 12.3 Appian Corp.
• Exhibit 123: Appian Corp. - Overview
• Exhibit 124: Appian Corp. - Product / Service
• Exhibit 125: Appian Corp. - Key news
• Exhibit 126: Appian Corp. - Key offerings
• 12.4 Bizagi Group Ltd.
• Exhibit 127: Bizagi Group Ltd. - Overview
• Exhibit 128: Bizagi Group Ltd. - Product / Service
• Exhibit 129: Bizagi Group Ltd. - Key offerings
• 12.5 Dell Technologies Inc.
• Exhibit 130: Dell Technologies Inc. - Overview
• Exhibit 131: Dell Technologies Inc. - Business segments
• Exhibit 132: Dell Technologies Inc. - Key offerings
• Exhibit 133: Dell Technologies Inc. - Segment focus
• 12.6 Fortra LLC
• Exhibit 134: Fortra LLC - Overview
• Exhibit 135: Fortra LLC - Product / Service
• Exhibit 136: Fortra LLC - Key offerings
• 12.7 Fujitsu Ltd.
• Exhibit 137: Fujitsu Ltd. - Overview
• Exhibit 138: Fujitsu Ltd. - Business segments
• Exhibit 139: Fujitsu Ltd. - Key news
• Exhibit 140: Fujitsu Ltd. - Key offerings
• Exhibit 141: Fujitsu Ltd. - Segment focus
• 12.8 HP Inc.
• Exhibit 142: HP Inc. - Overview
• Exhibit 143: HP Inc. - Business segments
• Exhibit 144: HP Inc. - Key news
• Exhibit 145: HP Inc. - Key offerings
• Exhibit 146: HP Inc. - Segment focus
• 12.9 International Business Machines Corp.
• Exhibit 147: International Business Machines Corp. - Overview
• Exhibit 148: International Business Machines Corp. - Business segments
• Exhibit 149: International Business Machines Corp. - Key news
• Exhibit 150: International Business Machines Corp. - Key offerings
• Exhibit 151: International Business Machines Corp. - Segment focus
• 12.10 Newgen Software Technologies Ltd.
• Exhibit 152: Newgen Software Technologies Ltd. - Overview
• Exhibit 153: Newgen Software Technologies Ltd. - Product / Service
• Exhibit 154: Newgen Software Technologies Ltd. - Key offerings
• 12.11 Oracle Corp.
• Exhibit 155: Oracle Corp. - Overview
• Exhibit 156: Oracle Corp. - Business segments
• Exhibit 157: Oracle Corp. - Key news
• Exhibit 158: Oracle Corp. - Key offerings
• Exhibit 159: Oracle Corp. - Segment focus
• 12.12 PairSoft
• Exhibit 160: PairSoft - Overview
• Exhibit 161: PairSoft - Product / Service
• Exhibit 162: PairSoft - Key offerings
• 12.13 Pegasystems Inc.
• Exhibit 163: Pegasystems Inc. - Overview
• Exhibit 164: Pegasystems Inc. - Product / Service
• Exhibit 165: Pegasystems Inc. - Key news
• Exhibit 166: Pegasystems Inc. - Key offerings
• 12.14 Robert Bosch GmbH
• Exhibit 167: Robert Bosch GmbH - Overview
• Exhibit 168: Robert Bosch GmbH - Business segments
• Exhibit 169: Robert Bosch GmbH - Key news
• Exhibit 170: Robert Bosch GmbH - Key offerings
• Exhibit 171: Robert Bosch GmbH - Segment focus
• 12.15 SAP SE
• Exhibit 172: SAP SE - Overview
• Exhibit 173: SAP SE - Business segments
• Exhibit 174: SAP SE - Key news
• Exhibit 175: SAP SE - Key offerings
• Exhibit 176: SAP SE - Segment focus
• 12.16 Software AG
• Exhibit 177: Software AG - Overview
• Exhibit 178: Software AG - Business segments
• Exhibit 179: Software AG - Key offerings
• Exhibit 180: Software AG - Segment focus
• 12.17 Vista Equity Partners Management LLC
• Exhibit 181: Vista Equity Partners Management LLC - Overview
• Exhibit 182: Vista Equity Partners Management LLC - Product / Service
• Exhibit 183: Vista Equity Partners Management LLC - Key news
• Exhibit 184: Vista Equity Partners Management LLC - Key offerings

13 Appendix

• 13.1 Scope of the report
• 13.2 Inclusions and exclusions checklist
• Exhibit 185: Inclusions checklist
• Exhibit 186: Exclusions checklist
• 13.3 Currency conversion rates for US$
• Exhibit 187: Currency conversion rates for US$
• 13.4 Research methodology
• Exhibit 188: Research methodology
• Exhibit 189: Validation techniques employed for market sizing
• Exhibit 190: Information sources
• 13.5 List of abbreviations
• Exhibit 191: List of abbreviations

About Technavio

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