The report "Cloud Workflow Market by Type (Platform and Services), Business Workflow (HR, Accounting & Finance, Sales & Marketing, Customer Service & Support, Operations), Organization Size, Vertical, and Region -Global Forecast to 2023", The cloud workflow market size is estimated to be USD 1.75 billion in 2018 and expected to reach USD 3.85 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period. The major factors expected to drive the growth of the cloud workflow market include the increasing adoption of cloud, rising adoption of cloud-based workflows among SMEs, and growing focus on streamlining workflows and business processes.
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Top Key Players
The major vendors covered in the cloud workflow market include SAP (Germany), IBM (US), Appian (US), Pegasystems (US), Micro Focus (UK), Microsoft (US), Ricoh (US), Nintex (US), PNMsoft (England), TrackVia (US), Flokzu (Uruguay), Bitrix (US), Zoho (US), Decisions (US), K2 (US), BP Logix (US), KISSFLOW (India), VIAVI Solutions (US), Cflow (India), Integrify (US), ProcessMaker (US), Process Street (US), Zapier (US), Accelo (US), and bpmonline (US).
Among verticals, the government vertical is expected to grow at the highest CAGR during the forecast period
The government vertical uses cloud workflow solutions to automate its workflow activities, analyze data, improve record keeping, boost productivity, and improve efficiency. The cloud workflow platform enables government agencies to accelerate government workflows, boost productivity, and automate compliance with process-driven applications, forms, and workflows. It can also enhance the ability to provide staff with real-time monitoring and resource efficiency features.
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By region, North America is expected to account for the largest market share during the forecast period
North America accounts for the major chunk of the cloud workflow market. It is considered to be one of the most advanced regions in terms of cloud adoption. It constitutes developed economies such as the US and Canada. It is expected to hold the largest market size, due to the early adoption of workflow management technology, the presence of top players, and globalization of cloud services in the region. Moreover, this region is significantly advanced in terms of technologies and their application deployments.
Scope of the Cloud Workflow Market Report
The study includes market segments, such as type, organizations size, business workflow, vertical, and region to arrive at the market size of the global cloud workflow market during the forecast period.
By Type
Platform
Services
Consulting
System Integration and Deployment
Support and Maintenance
By Organization Size
Small and Medium-sized Enterprises (SMEs)
Large Enterprises
By Business Workflow
HR
Accounting and Finance
Sales and Marketing
Customer Service and Support
Procurement and Supply Chain Management
Operations
Others (legal and R&D)
By Vertical
BFSI
Telecommunication and IT
Retail and eCommerce
Healthcare
Government
Manufacturing
Others (transportation and logistics, energy and utilities, and education)
By Region
North America
US
Canada
Europe
UK
Germany
France
Rest of Europe
APAC
Australia and New Zealand
China
Japan
Rest of APAC
MEA
Kingdom of Saudi Arabia (KSA)
United Arab Emirates (UAE)
South Africa
Rest of MEA
Latin America
Brazil
Mexico
Rest of Latin America
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