Markets and Markets : Global WFMS Market Expected To Reach $5.53 Billion by 2019 with a CAGR of 28.9%.
(M2 PressWIRE Via Acquire Media NewsEdge) The report "WFMS Market by Workflow System Types (Production, Messaging-based, Web-based, Suite-based, Others), Users (SMBs, Enterprises), Deployment Model (Cloud, On-premise) - Market Forecasts and Analysis (2014-2019)", defines and segments the global workflow management system market into various sub-segments with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving this market, various restraints and opportunities impacting it along with the adoption trends.
70 market data tables
In-depth TOC on "Workflow Management System Market by Workflow System Types (Production, Messaging-based, Web-based, Suite-based, Others), Users (SMBs, Enterprises), Deployment Model (Cloud, On-premise) - Market Forecasts and Analysis (2014-2019)"
Companies possess several iterative business operations that need to be completed every time a work is undertaken. This leads to reduced organizational productivity. The vendors in the workflow management system market are constantly innovating and remodeling ones existing architecture, so as to develop better and more comprehensive solutions. The major vendors in the workflow management system market are IBM, HP, Microsoft, Oracle, and SAP. The major forces driving this market are the increasing needs to better serve the fragmented customer base, radical procedural change for competitive advantage, need to support the emerging mobile workforce, and facilitation of work from home culture.
Workflow management system is a software tool that empowers individuals in an organization to collaborate, synchronize and automate one or more business processes. It provides visibility into process and performance metrics. Visibility into process allows performance of an escalation on a process step. While visibility into performance metrics allows analysis for determination whether a process needs improvement. Workflow management system automates redundant tasks and guarantees that unfinished tasks are followed up.
Early buyers will receive 10% customization of report.
MarketsandMarkets broadly segments the global workflow management system market by regions: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA); by types: production-based workflow systems, messaging-based workflow systems, web-based workflow management systems, suite-based workflow management systems and others; by users: Small and Medium Businesses (SMBs) and enterprises; by industry verticals: Banking Financial Services and Insurance (BFSI), energy and utilities, healthcare, manufacturing, public sector, retail and hospitality, transportation and logistics, telecommunications, and others.
MarketsandMarkets forecasts the global workflow management system market to grow from $1.56 billion in 2014 to $5.53 billion in 2019 at a CAGR of 28.9% during the period 2014-2019. In terms of regions, NA is expected to be the largest market in terms of market size, while EU and APAC are expected to experience an increase in market traction, during the forecast period.
Inquiry Before Buying:
There has been a considerable growth in the workflow management system market. Increased desire to remain competitive across the ever changing business landscape fosters the adoption of solutions that automate complex business procedures and enhance the productivity. The businesses are considering procedural transformation to face the competition and fragmented customer base. The hub of workflow management technology is the automation of business procedures wherein, operational tasks are sequentially executed automatically. The conceptualization and modeling of work processes for undergoing a radical change, is done through on premise or cloud-based solutions.
The workflow management system marketis fast gaining traction which is evident from the acquisition of RunMyProcess by Fujitsu, Nimbus by Tibco, and Chordiant Software by Pegasystems among various others. The major players such as IBM, Microsoft, HP, Oracle, and SAP offer Workflow management system and business process management solutions for SMB's and enterprises across the globe. Nowadays, many companies provide cloud-based solutions to organizations that do not want to employ one's own infrastructure, and who want increased flexibility in workflows.
Cloud-based workflow management system allows access to workflows from anywhere and thus saves employees' time and companies' huge investment on hardware and software. A management system developed around a business's email offers a smooth correspondence within the workflow. A robust system allows admin to reassign or reallocate users to work or tasks with ease and simplicity as and when needed.
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals, including advanced materials, automotive and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
North - Dominion Plaza,
Suite 800, Dallas, TX 75252
(c) 2014 M2 COMMUNICATIONS
[ InfoTech Spotlight's Homepage ]