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 Mn by 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 31.8% in the global demand for workflow management system over the forecast period.
- By deployment mode, cloud-based segment is estimated to grow by 14.31X during the forecast period.
- By enterprise size, SMEs segment is estimated to grow by 12.35X during the forecast period.
- By industry, the retail segment is anticipated to increase at a CAGR of 34.4% 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 34.3% CAGR during the forecast period.
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More Valuable Insights on Workflow Management Software (WMS) Market
Future Market Insight’s report on workflow management software (WMS) market industry research is segmented into five major sections – type (integrated WMS software, standalone software (production workflow systems, messaging-based workflow systems, web-based workflow systems, suite-based workflow systems, others)), deployment mode (cloud-based WMS, and on-premises WMS), enterprise size (large enterprises, and SMEs), industry (BFSI, healthcare, manufacturing, IT & telecom, retail, government, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and The Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the workflow management software system demand outlook.
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About Future Market Insights (FMI)
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.
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