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Workflow Management System Market Size Report by 2031

Workflow Management System Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component [Software (Suite-Based Workflow Systems, Web-Based Workflow Systems, Production Workflow Systems, and Messaging-Based Workflow Systems) and Services (Integration and Implementation, Consulting, and Training and Development)], Deployment Mode (Cloud and On-Premises), End User (BFSI, Healthcare and Life Sciences, IT and Telecom, Transportation and Logistics, Retail, Food and Beverages, Cosmetic Industry, and Others), and Geography

  • Report Code : TIPRE00008375
  • Category : Technology, Media and Telecommunications
  • No. of Pages : 135
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The workflow management system market size is projected to reach US$ 60.02 billion by 2031 from US$ 10.23 billion in 2023. The market is expected to register a CAGR of 24.7% during 2023–2031. Automation-as-a-Service is likely to be a key trend in the market in the coming years.

Workflow Management System Market Analysis

Implementing a unified workforce management solution allows everyone across the enterprise to have access to relevant data as part of their natural workflow. This not only limits fatigue and repetitive work but also helps in making informed decisions. Company-wide issues with disjointed datasets are considerably difficult to resolve manually. With a modern workforce management system, companies can address employees' and managers' needs in real-time, which is crucial for reducing labor and operational costs. Moreover, the integration of robotic process automation (RPA) into workflow management systems has increasingly become a standard practice in contemporary business settings. This enables the automation of specific tasks as part of more significant business processes, resulting in increased operational efficiency and productivity.

Workflow Management System Market Overview

A workflow management system serves as a consolidated platform that combines multiple diverse workflow tools into a unified application. Through this system, numerous processes can be automated in a step-by-step manner in accordance with business regulations. A workflow system can automate tasks that are both machine-based and human-based. Workflow management involves the efficient organization and optimization of workflows to achieve the best outcomes. This involves eliminating unnecessary tasks, ensuring that resources are available for all activities, and streamlining the order in which tasks are carried out. Also, automating key business process workflows aligns operations with business objectives and resolves the challenges associated with manual workflow systems, as workflows serve as the fundamental components of business processes. For instance, the procurement process comprises workflows for purchase requisition, invoice processing, and purchase order, each encompassing various tasks such as creation, review, approval, and routing to subsequent processes.

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Workflow Management System Market: Strategic Insights

Market Size Value inUS$ 10.23 Billion in 2023
Market Size Value byUS$ 60.02 Billion by 2031
Growth rateCAGR of 24.7% from 2023 to 2031
Forecast Period2024-2031
Historic Period2021-2022
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Workflow Management System Market Drivers and Opportunities

Rising Demand for Reduction in Labor and Operational Costs

Implementing a unified workforce management solution allows everyone across the enterprise to have access to relevant data as part of their natural workflow. This not only limits fatigue and repetitive work but also helps in making informed decisions. Company-wide issues with disjointed datasets are considerably difficult to resolve manually. With a modern workforce management system, companies can address employees' and managers' needs in real-time, which is crucial for reducing labor and operational costs. Automation plays a key role in reducing labor costs. Tools such as automated workflows, project management software, and AI-powered systems can help introduce automation in the workflow, decreasing the time it takes to complete labor-intensive tasks and boosting cost savings. Automation is particularly beneficial for reducing labor costs in manufacturing and other industries. Automated workflows allow systems to effectively handle the tasks, which allows employees to focus on more high-touch tasks in the organization. For instance, Ernst & Young successfully reduced labor costs and improved workflow management. The company conducted a study to estimate the total costs associated with HR tasks and found that labor costs represented most of the total costs related to these tasks. By implementing a fully automated workflow management solution, they were able to boost efficiency and reduce operating expenses, allowing management and HR to focus on strategic activities. Thus, the rising demand for reduction in labor and operational costs fuels the workflow management system market growth.

Integration of Robotic Process Automation with Workflow Management System

The integration of robotic process automation (RPA) into workflow management systems has increasingly become a standard practice in contemporary business settings. This enables the automation of specific tasks as part of more significant business processes, resulting in increased operational efficiency and productivity. For instance, in 2023, Gmelius, a platform specializing in Gmail-based communication and collaboration, has adeptly employed RPA within its workflow management system to streamline business operations. In a feature by Forbes, Gmelius is noted for its recognition of the pivotal role of artificial intelligence (AI) in achieving comprehensive digital workflow automation, particularly emphasizing RPA as a prime use case for automation. Gmelius has successfully integrated automation into a unified platform, effectively addressing common workflow challenges and presenting solutions to expedite workflow processes. This integration exemplifies the effective application of RPA within a workflow management system to improve task execution and enhance overall business operations, demonstrating the potential of RPA to automate specific tasks within broader business processes, thereby improving efficiency and scalability. Thus, the integration of robotic process automation with workflow management systems is expected to create lucrative opportunities for market growth during the forecast period.

Workflow Management System Market Report Segmentation Analysis

Key segments that contributed to the derivation of the workflow management system market analysis are component, deployment mode, and end user.

  • Based on component, the market is divided into software and services. The software segment is subsegmented into suite-based workflow systems, web-based workflow systems, production workflow systems, and messaging-based workflow systems. The service segment is further segmented into integration and implementation, consulting, and training and development. The software segment held a larger market share in 2023.
  • In terms of deployment mode, the market is bifurcated into on-premises and cloud. The cloud segment held a larger market share in 2023.
  • By end user, the market is segmented into BFSI, IT & telecom, healthcare & life sciences, retail, transportation & logistics, food & beverages, cosmetic industry, and others. The BFSI segment held the largest market share in 2023.

Workflow Management System Market Share Analysis by Geography

The geographic scope of the workflow management system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

Asia Pacific held a significant market share in 2023. The demand for innovative healthcare workflow management systems has surged in the dynamic healthcare landscape of Asia Pacific countries, which has led to the emergence of companies such as Appian. A cutting-edge workflow management system developed by Appian is specifically tailored to the unique requirements of healthcare providers in this region. Its platform offers seamless integration with existing healthcare IT infrastructure, streamlining clinical workflows, automating administrative tasks, and ensuring adherence to regulatory standards. By harnessing the power of data analytics and artificial intelligence, Appian aids in improved operational efficiency and patient care delivery in healthcare organizations, further allowing them to adapt to the evolving trends in Asia Pacific. The implementation of workflow management software and services in the IT & telecom sector is pivotal for streamlining operations and ensuring efficient task management. For instance, in telecom operations, workflow management systems enable the seamless coordination of tasks such as spectrum management and infrastructure investment, which are influenced by diverse regulatory environments in major countries in the region.

Workflow Management System Market Report Scope

Workflow Management System Market News and Recent Developments

The workflow management system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the workflow management system market are listed below:

  • Veeva Systems (NYSE: VEEV) announced Veeva Vault Batch Release, a new cloud application that will enable faster, more confident GMP release and market-ship decisions. Vault Batch Release addresses increased manufacturing and supply chain complexity by streamlining the aggregation and review of data and content while simplifying collaboration with external partners. (Source: Veeva Systems, Press Release, September 2023)
  • Dot Compliance, a leading provider of eQMS compliance solutions for the life sciences sector, has introduced an industry-first, ready-to-use AI-based electronic quality management system for life sciences powered by embedded generative and predictive artificial intelligence. The system deploys ChatGPT combined with proprietary algorithms to optimize quality processes, automate tasks and help professionals working in quality assurance to focus on enhancing the compliance of their organizations. (Source: Dot Compliance Ltd., Press Release, April 2023)

Workflow Management System Market Report Coverage and Deliverables

The "Workflow Management System Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

  • Workflow management system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Workflow management system market trends, as well as market dynamics such as drivers, restraints, and key opportunities
  • Detailed PEST and SWOT analysis
  • Workflow management system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
  • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the workflow management system market
  • Detailed company profiles
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

This text is related
to segments covered.

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

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to country scope.

Frequently Asked Questions


What is the incremental growth of the global workflow management system market during the forecast period?

The incremental growth expected to be recorded for the global workflow management system market during the forecast period is US$ 49,786.72 million.

Which are the key players holding the major market share of the global workflow management system market?

The key players holding majority shares in the global workflow management system market are Honeywell International Inc, International Business Machines Corp, Pegasystems Inc, Software AG, and Xerox Corporation.

What are the driving factors impacting the global workflow management system market?

Growing number of digital transformation initiatives and rising demand for reduction in labour and operational costs are the major factors that propel the global workflow management system market.

What is the estimated market size for the global workflow management system market in 2023?

The global workflow management system market was estimated to be US$ 10,236.51 million in 2023 and is expected to grow at a CAGR of 24.7 % during the forecast period 2023 - 2030.

What will be the market size of the global workflow management system market by 2031?

The global workflow management system market is expected to reach US$ 60,023.23 million by 2031.

What are the future trends of the global workflow management system market?

Automation-as-a-Service, which is anticipated to play a significant role in the global workflow management system market in the coming years.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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