Workflow Management Software (WMS) Market is Expected to Reach US$ 71.8 Billion by 2032, Growing at a CAGR of 27.0% During the Forecast Period 2022-2032

According to Future Market Insights (FMI), the demand for workflow management software (WMS) is estimated to witness impressive growth at a CAGR of around 27.0% from 2022-2032.

Overall sales of workflow management software market are expected to reach the valuation of ~US$ 6563.2 Mnby end of 2022. As per Future Market Insights, the demand of workflow management software is increasing due to growing adoption of cloud-based WMS in diverse sectors across the globe.

Rising need for upgraded technologies with virtual capabilities and with proliferation of work from home, the demand for WMS is expected to surge. Several organizations are automating the processes and are gaining advantage from the system through lesser lead times, reduction in errors, enhanced the collaboration and coordination among the teams and improved efficiency.

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Key Takeaways

By type, the standalone software segment is expected to dominate with a leading CAGR of 8%in the global demand for workflow management system over the forecast period.
By deployment mode, cloud-based segment is estimated to grow by 31X during the forecast period.

By enterprise size, SMEs segment is estimated to grow by 35X during the forecast period.
By industry, the retail segment is anticipated to increase at a CAGR of 4%between 2022 & 2032.
By region, North America currently holds highest market share of around 29%in workflow management system market in 2021
South Asia & Pacific region is expected to witness highest growth of around 3%CAGR during the forecast period.

Workflow Management Software Outlook by Category

By Type:

Integrated WMS Software
Standalone WMS Software
By Deployment Mode:

On-premise WMS
Cloud-based WMS
By Enterprise Size:

Large Enterprises
Small and Medium-sized Enterprises (SMEs)

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By Industry:

IT & Telecom
BFSI
Healthcare
Manufacturing
Retail
Government
Others
By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

This release was published on openPR.