The global workflow management system market size was valued at USD 4.8 billion in 2018 and is anticipated to witness a CAGR of 27.7% from 2019 to 2025. Growing need for streamlining of business process coupled with increasing technological penetration across different industry verticals is expected to boost the demand for workflow management systems (WFMS) significantly in upcoming years. Automation of workflows helps in getting more work done on a daily basis, which eventually helps in driving revenue. Moreover, with the deployment of workflow management systems, there is a considerable reduction in errors, as machines are less prone to making errors as compared to humans.
Workflow management systems help in modernizing the business processes by adopting automation across different industry verticals. Factors such as better utilization of resources, cost efficiency, and improved business processes are attributed to the growth of the market. The market growth is strongly driven by the changing nature of businesses, growing sizes of companies, and advancements in technologies that provide a quicker help to industries with large volumes of data and functionalities. Combined with better availability of data for making decisions, the use of workflow management systems offers cost-efficiency, in addition to technologically advanced infrastructure.
Workflow management includes finding redundant tasks, mapping out the workflow, identifying bottlenecks or areas for improvement, and automating the process. Workflow management is optimizing and creating the paths for data to complete items in a given process. Automated workflows can slash redundant processes and departments. These systems are process-centric and are manually designed with automatic generation of the corresponding code. Also, monitoring capabilities combined with reporting capabilities and analytics, can prove to be a powerful tool for companies to avoid unnecessary costs and focus on the crucial areas of their business.
WFMS are a mature technology for automating and controlling business processes. To implement automation in the business processes, it is necessary to apply modeling techniques for the non-technical, organizational systems. Workflow management is a fundamental component of modern enterprise information technology infrastructure that helps in automating the execution of critical business processes. It is essential for advanced workflow management systems to provide adequate support for the seamless incorporation of the changes done by the enterprise transformation to the corresponding business processes.
Workflow management systems majorly help in automating back-office process and workflows, which are labor-intensive. The main goal of these systems is to replace repetitive clerical tasks with a virtual workforce to provide faster execution of error-free business processes. The solution also offers expert feedback mechanism along with a recursive workflow management system. Combined with better data for better decisions, using workflow management systems can offer cost efficiency with more technologically advanced workplaces.
The component segment can be segregated into software and services. The software segment accounted for largest market size of USD 3.2 billion in 2018 and it is also expected to exhibit fastest growth rate over the forecast period. In order to cope up with the intense industrial competition, the service providers are focusing on offering innovative WFMS in order to better streamline business processes. Automation of workflow eventually helps in boosting the productivity of the organization.
The solution can create a platform to hold data and set up a progressive path of tasks for the data to follow. It will automatically help in routing the data to the predetermined tasks. Increasing number of companies are making use of workflow management systems to coordinate work processes, automate tasks, track performances, test the effectiveness of business strategies, and provide employees with information on assigned projects. The workﬂow also reﬂects the dependencies required to complete each speciﬁc task and hence maintains transparency. With this, the workflow management systems help in reducing the high cost of human labor and hence offer cost-efficiency.
By software, the workflow management system market can be segregated into production workflow systems, suite-based workflow systems, web-based workflow systems, messaging-based workflow systems, and others. The production workflow systems segment accounted for largest market size in 2018 and is anticipated to witness a CAGR of 28.8% over the forecast period. Whereas, the suite-based workflow system is expected to exhibit fastest growth rate over the forecast period. Workflow management software solutions are majorly focused on automating document-driven business processes. Increasing need to fulfill the ever-changing demands of the consumers by providing superior consumer experience is one major factor driving the market growth.
Production workflow systems have been in the market for a longer period and offer a superior level of customization. These systems can support different features as well as functions and can operate in a wide range of computing environment and network. However, these systems require costly application development and integration services and are usually more expensive as compared to other systems. The growing demand for automation of business operations and its collaboration is driving the market for production workflow management systems.
By service, the market can be segregated into consulting, integration, and training and development. The consulting segment accounted for largest market share in 2018 and is projected to exhibit highest CAGR of 26.5% over the forecast period. The growth is attributable to growing awareness of automation among business processes. Streamlining of business processes is one major factor driving the market growth.
Organizations such as banks and financial services providers have been the early adopters of automation services in their business processes. WFMS services help in offering enhanced services to consumers. Therefore, the demand for workflow management system services is growing exponentially over the forecast period. Growing deployment of workflow management software solutions is boosting demand for consulting as well as integration services.
By deployment, the market can be segregated into cloud and on-premise. The cloud segment accounted for largest market share of more than 66.0% in 2018 and is also projected to witness highest CAGR over the forecast period. The growth is attributable to growing awareness of automation among business processes. Customers are choosing cloud-based over on-premise deployment. This is owing to the fact that cloud deployed software helps the customers to maintain flexibility in operations and gain real-time access to data regardless of the location of the employees.
The cloud-based deployment empowers organizations to expand their businesses by offering workflow management system software to distributed enterprises spread across the world. Moving the business processes to the cloud helps in saving storage space and hence saves cost. Owing to this, there has been an increasing awareness about automation of business processes among the SMEs to eliminate mundane processes. However, these systems require costly integration and application development services and are usually more expensive as compared to other systems.
The WFMS market can be segmented based on vertical type into BFSI, healthcare, retail, IT and telecom, transportation, and others. The BFSI segment accounted for largest market share of more than 33.0% in 2018. However, the IT and telecom segment is anticipated to exhibit fastest CAGR over the forecast period. The BFSI sector is automating repetitive tasks such as data entry, compliance regulations, and assembly and formulation that enables enhancement in improving speed and efficiency. Office personnel spend around 40% to 60% of their time to create, search, take, categorize, and arrange documents. This eventually reduces efficiency and leads to wastage of time. With the implementation of these systems, the business processes are streamlined.
Workflow management systems in BFSI combine content management, records management, and business process automation. It also helps in dealing with core banking operations such as loan application processing, new client onboarding, fraud information management, and compliance and records management. Whereas, in IT and telecom, the system help in accurately tracking, managing, and reporting on all software and IT assets including fixed and mobile telecom assets. Hence, the IT and telecom industry vertical is anticipated to show major growth over the forecast period.
The North America region dominated the market in 2018 with a share of more than 48.0% and it is expected to continue the trend throughout the forecast period. Growing penetration of process management and automation solutions across the region is anticipated to boost the market growth. Increasing adoption of cloud technology across North America, predominantly in the U.S. and Canada, is one major factor responsible for the adoption of the WFMS. Furthermore, increased focus on digital transformation initiatives and increase in IT investment has led to a considerable growth of the market across Asia Pacific, Latin America, and Middle East and Africa.
The Asia Pacific region is expected to exhibit fastest CAGR over the forecast period. The BFSI sector in China and India is gaining momentum owing to increased online transactions and growing demand for automation of business processes. China and India are considered to have a huge product demand for the solutions owing to economic development and growing adoption of technology in across different industry verticals. The rising investments in tech firms in China are further paving the way for the growth of the market in the region.
Prominent participants in the market include Appian; IBM Corporation; Bizagi; Newgen Software Technologies Limited; Oracle Corporation; Nintex Global Limited; Pegasystems Inc.; Software AG; SourceCode Technology Holdings, Inc.; and Xerox Corporation. The market leaders are focusing on providing diverse solutions suitable to cater to the needs of each consumers for gaining more significant market share.
Moreover, companies such as Zoho, Inc. and Xerox are expanding their operations with partnerships and the introduction of new solutions. For instance, in December 2018, Top Imaging Systems Ltd. announced a global reseller agreement with Xerox. Under this agreement, the former company’s content processing solutions will be integrated with the workflow automation suite of Xerox.
This is anticipated to help in simplifying the automation solutions for customers across different industry verticals. These solutions will help the large enterprise consumers of Xerox in streamlining their content-driven tasks such as invoice processing claims administration, manual data entry, and consumer onboarding. Companies across numerous industry verticals are adopting these solutions and services to streamline business processes. As the competition is expanding, enterprises are focused more on enhancing the efficiency of operations and providing better consumer experience management.
Base year for estimation
Actual estimates/Historical data
2015 - 2017
2019 - 2025
Revenue in USD million and CAGR from 2019 to 2025
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
U.S., Canada, U.K., Germany, China, India, Japan, Brazil, Mexico
Revenue forecast, company share, competitive landscape, growth factors and trends
15% free customization scope (equivalent to 5 analysts working days)
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global workflow management system market report on the basis of component, software, service, deployment, vertical, and region:
Component Outlook (Revenue, USD Million, 2015 - 2025)
Software Outlook (Revenue, USD Million, 2015 - 2025)
Production Workflow Systems
Messaging-based Workflow Systems
Web-based Workflow Systems
Suite-based Workflow Systems
Service Outlook (Revenue, USD Million, 2015 - 2025)
Training & Development
Deployment Outlook (Revenue, USD Million, 2015 - 2025)
Vertical Outlook (Revenue, USD Million, 2015 - 2025)
IT & Telecom
Regional Outlook (Revenue, USD Billion, 2015 - 2025)
Middle East & Africa
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