Workflow Management System Market worth $5.53 Billion by 2019, According to A New Study on ASDReports

Wednesday 28 May 2014, Amsterdam

The report "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)", now available on ASDReports, 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.

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.

The report 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.

The new report 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.