Global Demand for Cloud-Based Workflow Management Systems will boost at a CAGR of 28.77% during 2014-2019

Albany, New York, December 13, 2016: Market Research Hub has added a new report on workflow management to its vast database of research reports. The study is titled as “Global Workflow Management Systems Market 2015-2019” and research analysts have forecasted that the market will grow at CAGR of 28.77% during the forecast period of 2014-2019. The report contains an inclusive market and vendor landscape in addition to a SWOT analysis of the key players.

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First of all, the report offers an overview of workflow management along with its types, features and benefits. Workflow management system is defined as a software package used to support management, execute and monitor various tasks in sequence to maintain workflow processes. It refers to the integration of workflow systems & applications which further ensures integration of programs and people in the framework of a defined business process. Workflow management systems have grown due to frequent changes & increased complexity in the business processes. There are two types of workflow management systems which are:

  • Automated processes
  • Internal and external processes

As per the findings, it has been observed that organizations are progressively implementing workflow management systems because they increase productivity, efficiency, generate more revenues, helps in better utilization of time and also offers quick response to customer queries. Therefore, low costs and increased revenue results in enhanced profitability and great business value for organizational success. In addition, the report describes the size of the market i.e. based on the total software revenue generated from the issue of new licenses, updates, installations, subscriptions, technical support and software maintenance.

Further, the report broadly segments the workflow management system market by key regions such as Americas, APAC and EMEA. Key leading countries highlighted in the report are U.S., Germany and Japan. Moreover, it is segmented by deployment model which is of two types- Cloud based and On-premises. These two play an important role in the workflow management system. According to the report, adoption of workflow systems is driven by the advent of cloud-based solutions which enable an organization to use the software at a low price.

The key vendors profiled in the report includes:

  • HP
  • SAP
  • IBM
  • Oracle

Other prominent vendors are Appian, Bosch, EMC, Fujistu, Network Automation, PNMsoft, Newgen Software, PaperSave, Pegasystems, OrangeScape Technologies, Software AG and Tibco Software.

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The report also discusses about the major drivers and challenges that influences the growth of the industry. Currently, the major challenge is high cost of implementation process because deployment is an expensive process which requires professionally trained people. The need to increase productivity and efficiency is one the major drivers, as observed by the study.

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