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Emerson Electric Launches DeltaV Workflow Management For Life Science Sector Industry Trends Gaining Momentum in the Global Workflow Management Software Market
Workflow Management Software Market
Workflow Management Software Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for workflow management software has seen considerable expansion over the last few years. The increase is projected to be from $11.42 billion in 2024 to $15.06 billion in 2025, with a compound annual growth rate (CAGR) of 31.9%. The historic growth surge can be linked to advancements in automation technology, heightened demands for productivity and efficiency, increasing complexities in business procedures, regulatory compliance necessities, and the trends towards globalization and distributed workforces.
Workflow Management Software Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market size for workflow management software is predicted to surge dramatically, reaching a valuation of $45.04 billion in 2029 with a CAGR of 31.5%. The projected augmentation in the coming period can be connected to the widespread adoption of remote work, incorporation with artificial intelligence and machine learning, a greater focus on cybersecurity and data privacy, the implementation of agile procedures, and a growing concentration on sustainability and environmental influence. Key trends during this predicted period encompass the democratization of workflow automation tools, an intensified focus on user experience and instinctive interfaces, the merging of workflow management and project management along with collaboration tools, the emergence of low-code and no-code platforms for swift development, and the growth of industry-specific solutions and vertical assimilation.
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What Are the Drivers Transforming the Workflow Management Software Market?
The increased prevalence of remote and geographically dispersed teams is predicted to boost the expansion of the workflow management software market. This refers to workers operating from locations other than traditional offices, frequently utilizing digital tools to facilitate remote collaboration and task completion. The shift towards these working styles is attributed to evolving perceptions about work-life balance and the necessity for job flexibility. Workflow management software is employed by remote and distributed teams to coordinate duties, enhance communication, monitor progress, and maintain efficiency regardless of their physical location. The US Bureau of Labor Statistics, a US government agency, reported in April 2023 that the proportion of companies with full-time remote work employees had increased from 37.4% in 2021 to 42.2% in 2022. Consequently, the surge in remote and geographically dispersed teams is contributing to the expansion of the workflow management software market.
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What Long-Term Trends Will Define the Future of the Workflow Management Software Market?
Leading businesses in the workflow management software market are channeling their efforts into designing sophisticated software like cloud-based workflow management to stay ahead of their competitors. Cloud-based workflow management software is a cloud-hosted tool that eases the automation, organization, and maximization of business workflows and processes. A case in point is the Emerson Electric Company, a U.S.-based automation tech and software company who, in April 2024, unveiled the DeltaV Workflow Management, an inventive software service specifically devised to enhance productivity for businesses in the life sciences field, particularly those at the beginning stages of development. It provides a cloud-based software-as-a-service model for easy recipe writing, implementation, and electronic data recording. This cloud-centric approach offers adaptability, scalability, and access for life science corporations, which is especially beneficial for those lacking substantial IT infrastructure. The intent is to hasten the drug creation process by offering a simple, expandable solution that negates the necessity for complicated coding. This technology significantly cuts down the time needed for recipe formation and automation, allowing quicker commercialization of novel therapeutic drugs.
Which Segments in the Workflow Management Software Market Offer the Most Profit Potential?
The workflow management software market covered in this report is segmented -
1) By Type: Integrated Software, Standalone Software
2) By Deployment Mode: On-Premise, Cloud-Based
3) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Industry: Information Technology And Telecommunication, Banking Financial Services And Insurance, Healthcare, Manufacturing, Retail, Government, Other Industries
Subsegments:
1) By Integrated Software: Enterprise Resource Planning (Erp) Integrated Solutions, Customer Relationship Management (Crm) Integrated Solutions, Project Management Integrated Solutions
2) By Standalone Software: Task And Project Management Software, Document Management Software, Workflow Automation Tools
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Which Firms Dominate the Workflow Management Software Market by Market Share and Revenue in 2025?
Major companies operating in the workflow management software market are Google LLC, Microsoft Corporation, International Business Machine Corporation, Salesforce Inc., Atlassian Corporation Plc, Zoho Corporation Pvt Ltd., MondayCom Ltd., Asana Inc., Zapier Inc., Wrike Inc., Nintex Ltd., Kissflow Inc., CANEA Partner Group, TrackVia Inc., QountHQ Inc., Mavenlink LLC, Process Street Inc., Pillir Inc., Integrify Inc., Metatask, Comindware Ltd., ProWorkflow, Cavintek Inc., Ushur Inc., TimeReaction
Which Regions Offer the Highest Growth Potential in the Workflow Management Software Market?
North America was the largest region in the workflow management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the workflow management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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