Workflow Software Market Scope
Workflow Software refers to automated software used to automate business processes such as administrative, industrial, or other processes. It helps in the managing, collaborating, and automating one or more business processes which facilitate an increase in productivity. The growing culture of flexible working hours and work from home led to a rise in demand mobile workflow management system. Market players are focusing on technological developments such as the integration of mobile devices and cloud-based technology for workflow management software. For instance, Connected Technology Solutions launched workflow automation software integrated with document and resources management, real-time data updates, payment collection, and API integration. Further, increasing demand for workflow software from small and medium enterprises expected to drive the demand for workflow software over the forecasted period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Microsoft (United States), Pegasystems Inc. (United States), Software AG (Germany), Hewlett-Packard (United States), IBM Corporation (United States), Dell EMC (United States), Oracle Corporation (United States), Xerox Corporation (United States), Sourcecode Technology Holdings, Inc. (United States), Nintex Global Limited (United States), Bizagi (United Kingdom), Blue Dot Solutions (United States) and Newgen Software Technologies Limited (India) |
CAGR | 18.98% |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Workflow Software market throughout the predicted period.
Microsoft (United States), Pegasystems Inc. (United States), Software AG (Germany), Hewlett-Packard (United States), IBM Corporation (United States), Dell EMC (United States), Oracle Corporation (United States), Xerox Corporation (United States), Sourcecode Technology Holdings, Inc. (United States), Nintex Global Limited (United States), Bizagi (United Kingdom), Blue Dot Solutions (United States) and Newgen Software Technologies Limited (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Tibco Software (United States), Fujitsu (Japan), Kiss Flow (India), Connected Technology Solutions (United States) and Appian (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Workflow Software market by Type and Region with country level break-up.
On the basis of geography, the market of Workflow Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
15th March 2019, Omnitracs engaged in fleet management solutions acquire Blue Dot Solutions, a provider of cloud-based workflow software to the transportation industry.
5th April 2019, Xante Corporation launched iQueue, its flagship Adobe PostScript PDF workflow software.
Influencing Trend:
Rise in Adoption of Cloud-Based Deployment Model of Workflow Software and Emphasizing On Integration of Workflow Software with Mobile Devices
Market Growth Drivers:
Rising Focus on Transformation of Conventional Workflows for Streamlining Business Processes and Increasing Demand for Automation of Business Processes to Increase Productivity
Challenges:
Difficulty in Integration of Workflow Management Software with Different Systems
Restraints:
High Implementation Costs of Workflow Management Software and Lack of Skilled Professionals to Adopt New Technology
Opportunities:
Increasing Demand from Emerging Economies and Increasing Demand for Digital Transformation across Numerous Industry Verticals
Key Target Audience
Production Workflow Systems, Messaging-Based Workflow Systems, Web-Based Workflow Systems, Suite-Based Workflow Systems, Technology Distributors, Potential Investors, Market Research Firms, Government Organizations, Research Organizations and Others