Workflow Management System Market Worldwide Top Players Revenue Analysis of Appian, Bizagi, IBM Corporation, Newgen Software Technologies Ltd. Nintex Global Limited

Workflow management system is a software designed to facilitate the setting up, execution and monitoring of workflow in an organization. A workflow is a sequence or chain of processes that can be operational, industrial or administrative wherein a work passes through from start to execution to completion. Due to various advantages such as reduced manual labor, improved accountability, streamlined processes, shortened project durations have uplifted the market in various industries.

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Streaming the business process and cost efficiency are among the major driving factor for the growth of the workflow 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 Market: Regional Insights

North America is expected to be the largest share in the global workflow management system market over the forecast period. This is mainly due to high adoption of cloud-based solution and services particularly in the U.S. and Canada, which in turn increases cloud traffic. Cloud-based applications have allowed organizations to become far more agile in their response to new opportunities for efficiency, productivity and service delivery. Hence, increase in cloud traffic will positively impact on the growth of workflow management in this particular region.

Global Workflow Management System: Competitive Background

Major players operating in the global workflow management system include Appian, Bizagi, IBM Corporation, Newgen Software Technologies Ltd. Nintex Global Limited, Oracle Corporation, Pegasystem Inc., Software AG, Source code Technology Holdings Inc., and Xerox Corporation. For instance, in July 2017, Appian announced its partnership with Blue Prism.

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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 verticals

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

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