Workflow Management Market
                     Market Highlights 
Workflow management system (WFMS) is software which provides a platform for setup, 
monitoring, and performance of a series of tasks. It improves the productivity of employees and 
enhances overall performance of the organization. The global workflow management market report 
by Market Research Future (MRFR) highlights salient market dynamics such as drivers, 
opportunities, trends, and challenges for the period of 2016 to 2022 (forecast period). The sudden 
outbreak of the COVID-19 virus and its disruptions in the industry has been highlighted. 
Market Scope 
According to MRFR, the global workflow management system market is poised to grow at an 
expected CAGR of over 19.14% over the forecast period. Its value can jump from USD 2.4 billion to 
USD 6.96 billion by 2022. 
The dynamic nature of business models and the change in workforce numbers are prime drivers of 
the market. The shift to digitization and use of information technology for scheduling of tasks and 
monitoring workers are expected to influence the market. Organization of the workflow for running 
daily functions without hurdles for clients can lead to the adoption of the software. Increased 
competition across industry verticals and inclination towards automation for lowering operational 
expenditure are trends to influence the market in the coming years. 
Advantages of workflow management software such as low business capital and risk, increased 
productivity, customer communication management, and governance can fuel the market growth. 
Development of smartphone applications owing to the trend of bring-your-own-devices (BYOD) as 
well as the focus on automation can lead to heavy investments in the market. This can provide a 
much-needed impetus to the industry demand. Recently, Delightree, a workflow management 
mobile application raised USD 3 million in 2019 from an assortment of venture capital firms. 
The COVID-19 pandemic has disrupted processes across industries and brought targets to a halt. 
But the workflow management software can be used in the building and management of workflows 
of employees during the crisis. Recently, SysAid has launched Workflow Designer, a drag and drop 
builder for assignment of projects to workers. It can be used for supervision by owners and the 
schedule modified according to the changes of the clients. 
But implementation costs and low flexibility are challenges faced by the market. 
Segmentation: 
The global workflow management system market is segmented by deployment, component, and 
industry vertical. 
By deployment, it is divided into on-premises and on-cloud. 
By component, it is segmented into software and services. 
By industry vertical, it is segmented into IT/telecom, healthcare, transportation, retail, BFSI, and 
others. 
Regional Analysis 
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are major regions of the 
global workflow management market. 
North America is projected to dominate the market over the forecast period owing to integration of 
automation in various processes by conglomerates and the proliferation of internet. The 
streamlining of business and deployment of software for reducing errors can bode well for the 
market. Availability of data for improving on decision making and modernization of infrastructure 
can fare well for the global workflow management market. Deployment of cloud for scaling the 
operations of enterprises while gaining access to real-time data can drive the adoption of workflow 
management market software. 
Competitive Outlook 
Pegasystems Inc., Nintex Global Limited, SourceCode Technology Holdings, Inc., Software AG, IBM 
Corporation, Oracle Corporation, Bizagi, Appian, and Xerox Corporation are major players of the 
global workflow management market. Partnerships and acquisitions are key strategies of players in 
expanding their client base. Smartsheet had acquired Brandfolder in 2020 in order to integrate the 
software into its collaborative management platform.