WORK FLOW MANAGEMENT SYSTEM MARKET ANALYSIS

Work Flow Management System MarketSize and Trends

Streaming the business process and cost efficiency are among the major driving factor for the growth of the work flow management system market.

The aim of streamlining business processes is to increase an organization’s efficiency in terms of simplifying tasks, avoiding unnecessary steps and reducing waste. Workflow tools are used for streamlining business processes. Through streamlined data analysis, better processes can be put in place to take advantage of workflows that help bring all stakeholders together, through various devices, across diverse networks, and traversing different locations and are possible perform instantly. Hence, due to increasing demand for streamline business processes have fuelled growth of the market globally.   

Workflow Management System: Taxonomy

By component

• Software
• Services

By system type

• Production Workflow System
• Messaging-Based Workflow System
• Web-Based System
• Suite-Based System
• Other

By deployment

• Cloud
• On-premises

The cloud deployment type is estimated to witness the highest demand as Cloud-based helps in cutting down the cost as compared to on-premises software deployment. For instance, WorkflowMax, a cloud-based workflow system, estimates that the company saves an average of 628 hours of time and US$ 22,000 every year for its customers. Moreover, cloud-based workflow management system software also helps the customers to maintain flexibility, as well as enjoy real-time access to data irrespective of the location of the employees.

By organization size:

• Small Enterprises
• Medium Enterprises
• Large Enterprises

By verticals

• BFSI
• Healthcare
• Retail and Consumer goods
• IT and Telecom
• Media and Entertainment
• Travel and Hospitality
• Government
• Other

Market- Trends