According to a new report, published by KBV research, The Global Workflow Management System Market size is expected to reach $53.5 billion by 2028, rising at a market growth of 33.1% CAGR during the forecast period.
The Services market is showcasing a CAGR of 35.5% during (2022 - 2028). Organizations often choose a specific automated software solution for each department—such as finance, supply chain & inventory management, marketing, and HR. Services aid businesses in installing workflow management systems by either guaranteeing that the new systems are compatible with the departments' current systems or by integrating the new systems with the current ones while avoiding data loss or data theft.
The Cloud market acquired the maximum revenue share in the Global Workflow Management System Market by Deployment Mode in 2021, thereby, achieving a market value of $38.2 billion by 2028. The rising use of mobile devices and improvements in information-sharing technologies are both responsible for the cloud market's expansion. In addition, big firms with numerous locations often want to use the same database, which makes cloud-based servers more appealing. Since they don't need to be installed beforehand and have fewer integration requirements, cloud apps are simpler to deploy than traditional software.
The Telecom & IT market has shown the high growth rate of 32.7% during (2022 - 2028). Telecom workflow management solutions may make conventional IT and telecom systems adaptable and flexible by accurately monitoring, managing, and reporting all IT and software assets, including fixed and mobile telecom assets. The IT & telecom category is anticipated to grow considerably throughout the course of the projected period as a consequence.
The North America market dominated the Global Workflow Management System Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $17.8 billion by 2028. The Europe market is poised to grow at a CAGR of 32.2% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 34.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/workflow-management-system-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Oracle Corporation, Newgen Software Technologies Limited, Xerox Corporation, Appian Corporation, Nintex Global Ltd. (TPG Inc.), Software AG, Pegasystems Inc., Bizagi Group Limited, and Source Code Technologies LLC
By Component
By Deployment Mode
By Vertical
By Geography
Companies Profiled
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