Cloud Workflow Market Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020– 2027 | IBM Corp. (US), Microsoft Corp. (US), PNMsoft Ltd. (England), Appian (US), Pegasystems Inc. (US), Process Street (US), Ricoh Pvt. Ltd. (US)
The global cloud workflow market was valued at USD 1.95 billion in 2019 and is expected to reach an estimated USD 5.63 billion by 2027, expanding at a CAGR of nearly 16.7% during the forecast period, 2020–2027. The revised market size has considered the possible adverse impact of the ongoing COVID-19 pandemic on the mentioned market during 2019-2020. The growth of the market is attributed to the increasing adoption of cloud-based workflows across industries and rising focus for digital transformation in views to enhance business operational performance.
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Cloud Workflow offers solutions for enterprises by providing facilities to manage business workflows easily and effectively. This solution provides those enterprises platforms for real-time information management as well as administering business processes without the need for establishing their own base platforms. Using cloud service, an organization can effectively handle its business activities since the service helps reduce manual steps and improve efficiency of the workflows of the company. One of the key aspects of the cloud workflow market is that the growing use of advanced technologies such as Artificial Intelligence (AI) in the business operation is expected to bring remarkable digital transformation, which are expected to provide growth opportunities for cloud workflow vendors.
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Segments Covered in the Report:
Types: • Platform • Services • Consulting • System Integration & Deployment • Support & Maintenance
Applications: • Large Enterprises • Small & Medium Enterprises (SMEs) Business Workflow: • Human Resources • Accounting & Finance • Sales and Marketing • Customer Service & Support • Procurement & Supply Chain Management • Operations • Others
End-Users: • Banking, Financial Services, & Insurance • Telecommunications & IT • Manufacturing • Retail & e-Commerce • Healthcare • Others
Regions: • Asia Pacific • North America • Latin America • Europe • Middle East & Africa
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