HOME Top Market Reports Workflow Management System Market by Component (Software, Services), Software (Production, Messaging-Based, Web-Based, Suite-Based), Services, Deployment Type, Industry Verticals, and Region - Global Forecast to 2021

Workflow Management System Market by Component (Software, Services), Software (Production, Messaging-Based, Web-Based, Suite-Based), Services, Deployment Type, Industry Verticals, and Region - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: January 2017
Report Code: TC 2496

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The workflow management system market size is estimated to grow from USD 3.51 Billion in 2016 to USD 9.87 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 23.0%. Major growths drivers of the market include the increased focus on streamlining business processes, achieving cost-efficiency through workflow management, and increased access to information.

Objectives of the Study:

  • The main objective of this report is to define, describe, and forecast the global workflow management system market on the basis of components (software and services), deployment types, industry verticals, and regions.
  • The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges).
  • The report aims to strategically analyze micro-markets with respect to individual growth trends, future prospects, and contributions to the total market.
  • The report attempts to forecast the market size with respect to the five main regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America.
  • The report strategically profiles key players and comprehensively analyzes their core competencies.
  • This report also tracks and analyzes the competitive developments, such as joint ventures, mergers & acquisitions, new product developments, and research & development activities in the market.

The research methodology used to estimate and forecast the workflow management system market begins with capturing data on key vendors by secondary research through various sources that include news articles, journals, paid databases, associations like the workflow management coalition, and companies’ presentations. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with the key people, such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primaries is depicted in the figure given below:

Workflow Management System Market

To know about the assumptions considered for the study, download the pdf brochure

The workflow management system ecosystem comprises vendors, such as Xerox Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Pegasystems Inc. (U.S.), Software AG (Germany), SourceCode Technology Holdings, Inc. (U.S.), Nintex Global Limited (U.S.), Bizagi (U.K.), Appian (U.S.), and Newgen Software Technologies Limited (India); software providers; cloud service providers; IT consulting service providers; and system integrators.

The target audiences of this market report are given below:

  • Software providers
  • Cloud service providers
  • IT consulting service providers
  • Integration service providers
  • End users (verticals)

 “Study answers several questions for the stakeholders, primarily which market segments to focus in next two to five years for prioritizing the efforts and investments.”

Scope of the Report

The research report categorizes the workflow management system market to forecast the revenues and analyze the trends in each of the following subsegments:

By Component

By Software

  • Production workflow systems
  • Messaging-based workflow systems
  • Web-based workflow systems
  • Suite-based workflow systems
  • Other workflow systems

By Service

  • IT consulting
  • Integration and implementation
  • Training and development

By Deployment

  • Cloud
  • On-premises

By Industry Vertical

  • Banking, financial services, and insurance
  • Public sector
  • Healthcare
  • Energy and utilities
  • Retail
  • IT and telecom
  • Travel and hospitality
  • Transportation and logistics
  • Education
  • Others

By Region

  • North America
  • Europe
  • MEA
  • APAC
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix that gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the North American market
  • Further breakdown of the European market
  • Further breakdown of the APAC market
  • Further breakdown of the MEA market
  • Further breakdown of the Latin American market

Company Information

  • Detailed analysis and profiling of additional market players

Increased focus on streamlining business processes and achieving cost-efficiency through workflow management is expected to drive the global workflow management system market to USD 9.87 billion by 2021

Workflow can be defined as the procedural actions, tasks, people or organizations involved and necessary input & output information and tools required at every step in a business process. A workflow management system defines, executes, and manages workflows through the use of software. It runs on workflow engines, which can deduce the process definition and intermingle with workflow participants. Workflows generally automate a business process. The workflow management system products and services enable organizations to govern the numerous activities associated with a business procedure. They offer organizations benefits such as reduced cost through increased efficiency and less disruption, continuous organizational improvement, and enhanced agility of complying with the rapidly changing regulatory and judicial requirements. With the growing number of businesses and rapid digitization across various verticals, workflow management products provide organizations with easy coordination and administration, along with economic benefits in terms of time and cost.

Increased focus on streamlining business processes and achieving cost-efficiency through workflow management is expected to drive the global workflow management system market

Organizations consist of several repetitive tasks which are to be performed every time a work is executed. Workflow management system enables enterprises across various industry verticals to streamline business operations. The digitization of physical materials such as images, text, and documents has propagated the use of this system along with employees demanding secure and quick access to information. It helps enterprises across various industries to streamline and automate their functioning by sequencing various activities involved in the business process and thereby enhancing the productivity. Organizations demand customized systems and are increasingly adopting workflow management systems across all major industry verticals including BFSI, public sector, healthcare, energy & utilities, retail, IT and telecom, education, travel & hospitality, transportation & logistics.

Increased focus on digital transformation initiatives and growing adoption of cloud deployment model have created various opportunities for growth in the global workflow management system market

Organizations around the globe are shifting their focus toward digital transformation and are realigning their processes so that digital transformation technologies can be accommodated within the workflow. Digital transformation essentially means incorporating digital technologies such as social media, data science, cloud deployment, mobile apps, and security into business processes to better fulfil business goals. Companies are expected to capitalize on the new opportunity of digital transformation in order to achieve significant business improvement. The digitalization of organizations has given rise to a clear opportunity to refine and streamline the various business activities through workflow management systems. Digitized documents enable faster access and collaboration with documents, regardless of time or location.

Cloud computing provides a flexible, on–demand computing infrastructure for a number of applications. Opportunities are also emerging for the migration of legacy on-premises workflow management system to the cloud mode. Most of the top vendors in the workflow management system market are now focusing toward the development of a complete suite that would have the ability to create, appraise, and enhance the digital properties via cloud-based offerings.

Market Dynamics

Workflow Management System Market

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 MnM Dive Vendor Comparision Methodology
    2.5 Quadrant Description
    2.6 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 35)
    4.1 Attractive Market Opportunities in the Workflow Management System Market
    4.2 Market Snapshot: By Top Three Industry Verticals, 2016
    4.3 Market Snapshot: By Region and Software, 2016
    4.4 Lifecycle Analysis, By Region, 2016
    4.5 Market Investment Scenario

5 Market Overview (Page No. - 40)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Component
           5.2.2 By Deployment Type
           5.2.3 By Industry Vertical
           5.2.4 By Region
    5.3 Evolution
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Increased Focus on Streamlining Business Processes
                    5.4.1.2 Achieving Cost-Efficiency Through Workflow Management
                    5.4.1.3 Increased Access to Information
           5.4.2 Restraints
                    5.4.2.1 High Implementation Costs
                    5.4.2.2 Difficulty in Integrating New and Legacy Systems Through Workflows
           5.4.3 Opportunities
                    5.4.3.1 Huge Growth Potential in Emerging Markets
                    5.4.3.2 Increased Adoption of Cloud Deployment Model
                    5.4.3.3 Increased Focus on Digital Transformation Initiatives
           5.4.4 Challenges
                    5.4.4.1 Less Awareness
                    5.4.4.2 Concern Among Employees Due to Workflow Management System Implementation

6 Industry Trends (Page No. - 48)
    6.1 Introduction
    6.2 Value Chain Analysis
           6.2.1 Software Providers
           6.2.2 Cloud Deployment Platform Providers
           6.2.3 Service Providers
           6.2.4 Industry Verticals
    6.3 Architecture
    6.4 Strategic Benchmarking

7 Workflow Management System Market Analysis, By Component (Page No. - 52)
    7.1 Introduction
    7.2 Software
           7.2.1 Production Workflow Systems
           7.2.2 Messaging-Based Workflow Systems
           7.2.3 Web-Based Workflow Systems
           7.2.4 Suite-Based Workflow Systems
           7.2.5 Others
    7.3 Services
           7.3.1 IT Consulting
           7.3.2 Integration and Implementation
           7.3.3 Training and Development

8 Market Analysis, By Deployment Type (Page No. - 69)
    8.1 Introduction
    8.2 Cloud
    8.3 On-Premises

9 Workflow Management System Market Analysis, By Industry Vertical (Page No. - 75)
    9.1 Introduction
    9.2 Banking, Financial Services, and Insurance
    9.3 Public Sector
    9.4 Healthcare
    9.5 Energy and Utilities
    9.6 Retail
    9.7 IT and Telecom
    9.8 Travel and Hospitality
    9.9 Transportation and Logistics
    9.10 Education
    9.11 Others

10 Geographic Analysis (Page No. - 89)

     10.1 Introduction
     10.2 North America
     10.3 Europe
     10.4 Asia-Pacific
     10.5 Middle East and Africa
     10.6 Latin America

11 Competitive Landscape (Page No. - 109)
     11.1 Overview
     11.2 Competitive Situation and Trends
             11.2.1 New Product Launches and Upgradation
             11.2.2 Partnerships, Agreements, and Collaborations
             11.2.3 Mergers and Acquisitions
             11.2.4 Expansions
     11.3 MnM Dive: Vendor Scorecard

12 Company Profiles (Page No. - 118)
(Overview, Products and Services, Financials, Strategy & Development)*
     12.1 Introduction
     12.2 Xerox Corporation
     12.3 IBM Corporation
     12.4 Oracle Corporation
     12.5 Pegasystems Inc.
     12.6 Software AG
     12.7 Sourcecode Technology Holdings, Inc.
     12.8 Nintex Global Limited
     12.9 Bizagi
     12.10 Appian
     12.11 Newgen Software Technologies Limited

*Details on Overview, Products and Services, Financials, Strategy & Development Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 147)
     13.1 Other Developments
             13.1.1 Other Developments: New Product Launches, 2014–2016
             13.1.2 Other Developments: Partnerships, Agreements, and Collaborations, 2014–2016
     13.2 Industry Experts
     13.3 Discussion Guide
     13.4 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.5 Introducing RT: Real Time Market Intelligence
     13.6 Available Customizations
     13.7 Related Reports
     13.8 Author Details


List of Tables (66 Tables)

Table 1 Global Workflow Management System Market Size and Growth Rate, 2014–2021 (USD Million, Y-O-Y %)
Table 2 Global Market Size, By Component, 2014–2021 (USD Million)
Table 3 Market Size, By Component, 2014–2021 (USD Million)
Table 4 Market Size, By Software, 2014–2021 (USD Million)
Table 5 Production Workflow Systems: Market Size, By Region, 2014–2021 (USD Million)
Table 6 Production Workflow Systems: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 7 Messaging-Based Workflow Systems: Market Size, By Region, 2014–2021 (USD Million)
Table 8 Messaging-Based Workflow Systems: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 9 Web-Based Workflow Systems: Market Size, By Region, 2014–2021 (USD Million)
Table 10 Web-Based Workflow Systems: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 11 Suite-Based Workflow Systems: Market Size, By Region, 2014–2021 (USD Million)
Table 12 Suite-Based Workflow Systems: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 13 Others: Market Size, By Region, 2014–2021 (USD Million)
Table 14 Others: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 15 Workflow Management System Market Size, By Service Type, 2014–2021 (USD Million)
Table 16 IT Consulting: Market Size, By Region, 2014–2021 (USD Million)
Table 17 Integration and Implementation: Market Size, By Region, 2014–2021 (USD Million)
Table 18 Training and Development: Market Size, By Region, 2014–2021 (USD Million)
Table 19 Software Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 20 Cloud: Market Size, By Region, 2014–2021 (USD Million)
Table 21 Cloud: Market Size, By Software, 2014–2021 (USD Million)
Table 22 On-Premises: Market Size, By Region, 2014–2021 (USD Million)
Table 23 On-Premises: Market Size, By Software 2014–2021 (USD Million)
Table 24 Workflow Management System Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 25 Banking, Financial Services, and Insurance: Market Size, By Region, 2014–2021 (USD Million)
Table 26 Public Sector: Market Size, By Region, 2014–2021 (USD Million)
Table 27 Healthcare: Market Size, By Region, 2014–2021 (USD Million)
Table 28 Energy and Utilities: Market Size, By Region, 2014–2021 (USD Million)
Table 29 Retail: Market Size, By Region, 2014–2021 (USD Million)
Table 30 IT and Telecom: Market Size, By Region, 2014–2021 (USD Million)
Table 31 Travel and Hospitality: Market Size, By Region, 2014–2021 (USD Million)
Table 32 Transportation and Logistics: Market Size, By Region, 2014–2021 (USD Million)
Table 33 Education: Market Size, By Region, 2014–2021 (USD Million)
Table 34 Others: Market Size, By Region, 2014–2021 (USD Million)
Table 35 Workflow Management System Market Size, By Region, 2014–2021 (USD Million)
Table 36 North America: Market Size, By Component, 2014–2021 (USD Million)
Table 37 North America: Market Size, By Software, 2014–2021 (USD Million)
Table 38 North America: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 39 North America: Market Size, By Service Type, 2014–2021 (USD Million)
Table 40 North America: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 41 Europe: Market Size, By Component, 2014–2021 (USD Million)
Table 42 Europe: Market Size, By Software, 2014–2021 (USD Million)
Table 43 Europe: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 44 Europe: Market Size, By Service Type, 2014–2021 (USD Million)
Table 45 Europe: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 46 Asia-Pacific: Workflow Management System Market Size, By Component, 2014–2021 (USD Million)
Table 47 Asia-Pacific: Market Size, By Software, 2014–2021 (USD Million)
Table 48 Asia-Pacific: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 49 Asia-Pacific: Market Size, By Service Type, 2014–2021 (USD Million)
Table 50 Asia-Pacific: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 51 Middle East and Africa: Market Size, By Component, 2014–2021 (USD Million)
Table 52 Middle East and Africa: Market Size, By Software, 2014–2021 (USD Million)
Table 53 Middle East and Africa: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 54 Middle East and Africa: Market Size, By Service Type, 2014–2021 (USD Million)
Table 55 Middle East and Africa: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 56 Latin America: Market Size, By Component, 2014–2021 (USD Million)
Table 57 Latin America: Market Size, By Software, 2014–2021 (USD Million)
Table 58 Latin America: Market Size, By Deployment Type, 2014–2021 (USD Million)
Table 59 Latin America: Market Size, By Service Type, 2014–2021 (USD Million)
Table 60 Latin America: Market Size, By Industry Vertical, 2014–2021 (USD Million)
Table 61 New Product Launches and Upgradation, 2016
Table 62 Partnerships, Agreements, and Collaborations, 2016
Table 63 Mergers and Acquisitions, 2014–2016
Table 64 Expansions, 2014–2015
Table 65 Other Developments: New Product Launches, 2014–2016
Table 66 Other Developments: Partnerships, Agreements, and Collaborations, 2014–2016


List of Figures (55 Figures)

Figure 1 Workflow Management System Market: Research Methodology
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Market Breakdown and Data Triangulation
Figure 5 Vendor Dive Matrix: Criteria Weightage
Figure 6 Vendor Dive Matrix
Figure 7 Market Assumptions
Figure 8 Market: Cloud Deployment is Expected to Grow at Highest CAGR From 2016 to 2021
Figure 9 Market: Top Three Growing Segments During the Period 2016 -2021
Figure 10 North America is Expected to Hold the Largest Market Share in 2016
Figure 11 Emerging Economies Offer Attractive Market Opportunities in the Workflow Management System Market During the Forecast Period
Figure 12 Banking, Financial Services, and Insurance Vertical is Estimated to Have the Largest Market Size in the Market in Forecast Period
Figure 13 North America is Expected to Have the Largest Market Size in 2016
Figure 14 Regional Lifecycle: Asia-Pacific is Expected to Exhibit the Highest Growth Potential
Figure 15 Asia-Pacific is Expected to Have the Highest Investment Potential in the Market
Figure 16 Market Segmentation: By Component
Figure 17 Market Segmentation: By Deployment Type
Figure 18 Market Segmentation: By Industry Vertical
Figure 19 Market Segmentation: By Region
Figure 20 Evolution of the Market
Figure 21 Drivers, Restraints, Opportunities, and Challenges
Figure 22 Value Chain Analysis
Figure 23 Workflow Management System Architecture
Figure 24 Strategic Benchmarking: New Product Launches, 2014-2016
Figure 25 Suite-Based Workflow Systems Software Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 26 Middle East and Africa is Expected to Be the Fastest-Growing Region for Production Workflow Systems Software During the Forecast Period
Figure 27 Asia-Pacific is Expected to Be the Fastest-Growing Region for Messaging-Based Workflow Systems Software During the Forecast Period
Figure 28 Asia-Pacific is Expected to Be the Fastest-Growing Region for Web-Based Workflow Systems Software During the Forecast Period
Figure 29 Asia-Pacific is Expected to Be the Fastest-Growing Region for Suite-Based Workflow Systems Software During the Forecast Period
Figure 30 Asia-Pacific is Expected to Be the Fastest-Growing Region for Other Workflow Systems Software During the Forecast Period
Figure 31 IT Consulting Segment is Expected to Have the Highest CAGR During the Forecast Period
Figure 32 Cloud Deployment Segment is Expected to Have the Highest CAGR During the Forecast Period
Figure 33 Asia-Pacific is Expected to Be the Fastest-Growing Region for Cloud Deployments During the Forecast Period
Figure 34 IT and Telecom, Retail, and Education Verticals are Expected to Dominate the Workflow Management System Market in Terms of CAGR During the Forecast Period
Figure 35 Asia-Pacific is Expected to Be the Fastest-Growing Region for IT and Telecom Industry Vertical During the Forecast Period
Figure 36 North America is Expected to Continue to Lead the market in Terms of Market Size During the Forecast Period
Figure 37 Geographic Snapshot: Asia-Pacific is Expected to Emerge as A New Hotspot for the Workflow Management System Market By 2021
Figure 38 North America Market Snapshot
Figure 39 Asia-Pacific Market Snapshot
Figure 40 Companies Adopted New Product Launch as the Key Growth Strategy Between 2014 and 2016
Figure 41 Market Evaluation Framework
Figure 42 Battle for Market Share: New Product Launches and Partnerships Were the Key Strategies During the Forecast Period (2016-2021)
Figure 43 Evaluation Overview: Product Offering
Figure 44 Evaluation Overview: Business Strategy
Figure 45 Geographic Revenue Mix of Top 4 Market Players
Figure 46 Xerox Corporation: Company Snapshot
Figure 47 Xerox Corporation: SWOT Analysis
Figure 48 IBM Corporation: Company Snapshot
Figure 49 IBM Corporation: SWOT Analysis
Figure 50 Oracle Corporation: Company Snapshot
Figure 51 Oracle Corporation: SWOT Analysis
Figure 52 Pegasystems Inc.: Company Snapshot
Figure 53 Pegasystems Inc.: SWOT Analysis
Figure 54 Software AG: Company Snapshot
Figure 55 Software AG: SWOT Analysis

The workflow management system market is expected to grow from USD 3.51 Billion in 2016 to USD 9.87 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 23.0% during the forecast period. The increased focus on streamlining business processes, achieving cost efficiency through workflow management, and increased access to information is driving the market across all regions.

The market is segmented by component (software and services), deployment type, industry vertical, and region. In the component segment, the service segment is observing great opportunities and importance among the end users due to the increase in IT consulting services. Moreover, in terms of software, suite-based workflow systems software segment is expected to grow at the highest CAGR during the forecast period, as it offers a suite of integrated office applications, such as spreadsheet, word processor, email, and presentation.

The cloud deployment type is expected to grow at the highest CAGR during the forecast period. The cloud deployment type is also projected to witness the highest demand due to increased cost reduction as compared to on-premises software deployment, as cloud deployed workflow management system software helps the customers to maintain flexibility, as well as, enjoy real-time access to data regardless of the location of the employees.

The workflow management system software has been deployed across various industry verticals, such as Banking, Financial Services, and Insurance (BFSI); public sector; healthcare; energy & utilities; retail: IT & telecom; travel & hospitality; transportation & logistics; and education. The IT and telecom vertical is expected to witness the highest CAGR during the forecast period, as the enhanced competitive landscape of the telecom sector in the emerging nations calls for robust workflow management solutions that provide competitive advantage by streamlining back-office processes and procedures to better serve the customers. However, BFSI is estimated to have the largest market size in 2016, as BFSI companies have the need to digitalize large number of files and other physical documents. The workflow management system enables banks to automate various activities, such as loan approval, document management, and loan management.

The global market has been segmented on the basis of regions into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America to provide a region-specific analysis in the report. The North American region is expected to be the largest revenue-generating region for workflow management system software and service providers in 2016. This is mainly because there is a high focus on innovations obtained from research & development and technology adoption, especially in the developed economies of North America. The APAC region is expected to be the fastest-growing region in the workflow management system market. The growth in this region is primarily driven by the need of business efficiency and reduction in operational costs.

Workflow Management System Market

The market faces challenges such as less awareness. Moreover, factors such as concern among employees due to the implementation of workflow management system are also hindering the growth of the market.

The major vendors that offer workflow management system software and services across the globe are Xerox Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Pegasystems Inc. (U.S.), Software AG (Germany), SourceCode Technology Holdings, Inc. (U.S.), Nintex Global Limited (U.S.), Bizagi (U.K.), Appian (U.S.), and Newgen Software Technologies Limited (India). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships & collaborations, and mergers & acquisitions to expand their offerings in the workflow management system market.

The growth of workflow management system market depends on the factors, including increased focus on streamlining business processes, achieving cost-efficiency through workflow management, and increased access to information are expected to drive the market growth.

Vendors are introducing new and advanced workflow management solutions to lure customers across all major industries

Workflow Management System Market

Production Workflow Systems

The production procedures comprise several repetitive and sequential activities. These systems form the conventional aspect of the market and grew out of the first systems available in the market. It is also known as file store-based systems, forms management systems, and document-image processing systems. These systems route folders comprising one or more forms or different types of documents through the enterprises. The documents in this system are stored in a central repository and check-in, check-out functions are performed along with version control for those documents.

Production workflow systems support various functions and features that allow superior customization. These systems run in a broad range of computing environment and network. Production workflows have their presence from long time back in the market and there is availability of superior quality expertise for this system that improves its traction among organizations. The systems are usually more expensive as compared with other systems. They require costly integration and application development services from an external consultant.

The present-day production workflow systems support various functionalities such as image management, forms management, document management, database management, object management, product data management, computer-aided software engineering, project management, directory services, electronic messaging, electronic commerce services, and Intranet/Internet services. The increased desire for automation of business operations and its collaboration is driving the production workflow systems market.

Messaging-Based Workflow Systems

Messaging-based workflow systems are developed to support characteristic ad hoc business processes—a workflow with a few participants, less pre-planning, and easy routing rules that get redefined daily. These systems offer rule-based message management, sequential routing, and cycle back to originator. Messaging-based workflow systems are categorized into electronic messaging technologies, database management, and forms management. Email systems are used for electronic messaging. Forms and messages are routed between each other with the help of people using emails. Forms generated through standalone tools are circulated among people allowing them to update and change fields. When forms arrive at their endpoint, it is written to the database.

Messaging-based workflow systems are also known as administrative workflow systems. It consists of standalone tools that route documents such as forms and file attachments over present email systems. These systems are less expensive as messaging is based on an existing email system. They support fast definition and activation of simple business processes typically of a parallel or sequential nature. These solutions need minimal customization and training for its implementation.

Web-Based Workflow Systems

Web-based workflow systems is gaining traction owing to high consumption and surging usage of web services. These systems are on the leading edge of workflow application development. Capitalizing on the extent and proliferation of the World Wide Web, these systems use the same environment to execute workflow capabilities. To deliver their functionality, these systems make use of web clients and servers. Web-based workflow systems require internet access to perform its functions while production-based and message-based systems function over application infrastructures which include a broad range of protocols and application services.

Suite-Based Workflow Systems

Suite-based workflow systems enable users to route individual desktop application files instead of folders of documents and forms. These systems are characterized by their support for unplanned actions, one-time actions, and ad hoc processes. These systems can be categorized into office application suites and groupware application environments. These workflow systems use email as the routing vehicle. Suite-based workflow systems offer a suite of integrated office applications such as spreadsheet, word processor, email, and presentation. The assistance of any third-party consultant is not required for suite-based workflow systems implementation. However, the system needs robust maintenance and support.

Others

Other workflow systems include ad hoc workflows and collaborative workflows. Ad hoc workflow is considered to be a flexible system in which the entire process is not completely defined at first and is dynamically changed as per changes in the business process. Ad hoc workflows are created to deal with unique situations. Collaborative workflows are defined by the interactions between participants involved in the workflow process. These collaborative workflows consist of several iterations over the same process step, until all the participants involved, agree upon the process flow.

Key questions

  • Which are the substitute products and how big is the threat from them?
  • Which are the top end users i.e. industry verticals where workflow management system can be implemented for revenue generation through new advancement in technologies, such as cloud computing?
  • What are the potential opportunities in the adjacent markets, such as Workflow Orchestration Market and Enterprise Content Management Market?
  • What should be your go-to-market strategy to expand the reach into developing countries across APAC, MEA, and Latin America?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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