Cloud Workflow Market: Global Industry Analysis and Forecast (2023-2029)

Cloud Workflow Market size was valued nearly US$ 3.66 Bn. in 2022 and is expected to grow at a CAGR of 16.5 % over 2022-2029, to account for US$ 12.44 Bn. in 2029.

Cloud Workflow Market Overview:

Cloud Workflow aids in business developments without the help of the base platform. It has a number of benefits, including improved performance, real-time visibility, and efficiency. Cloud Workflow helps the organization in decreasing burden by minimising repetitive workload, which is why businesses are exploring the transformation of cloud workflows in automating business processes, which also aids in the functioning of business processes and decision making. To know about the Research Methodology :- Request Free Sample Report

Cloud Workflow Market Dynamics:

Industrial growth in developed and developing countries, a shift in government policy toward digitization, and an increase in cloud use to save costs are all important factors driving the global industry forward. Another factor projected to drive market expansion during the forecast period is SMEs' increased usage of cloud services in order to streamline workflows and business operations. Another factor projected to assist market expansion is the growing acceptance of cloud services by major organisations, owing to its ability to provide employees with real-time monitoring and resource efficiency features. During the projected period, technological developments and increased investment by major companies for greater security and enhanced cloud services are expected to provide new revenue opportunities for companies operating in the target market. Furthermore, increasing merger and acquisition activity among regional and multinational companies is likely to provide new chances, which would help the market grow to some level. However, a major factor projected to stifle worldwide market growth is a lack of knowledge about cloud-based workflow solutions. Furthermore, a lack of security standards is another factor that is predicted to impede global market growth to a certain level.

Cloud Workflow Market Segmentation:

The MMR report covers all segments in the Cloud Workflow market such as Type, Organization Size, Business Workflow and Vertical. SMEs Segment is expected to account for the Largest 12.44 Market Share By 2029. Based on the organization size, the Small and Medium-sized Enterprises (SMEs) is projected to grow at the highest CAGR of 16.5% to reach US$12.44 Bn. by 2029. Small businesses are mostly migrating to the cloud from on premise applications. With the ability to employ workflow solutions on the cloud, the Cloud Workflow Market has seen a surge in the use of cloud-based workflow solutions by SMEs and large organisations. According to RightScale Inc., businesses typically run a larger share of their workloads in a private cloud (46%) and a lesser portion (33%) in a public cloud. Small and medium-sized enterprises, on the other hand, choose to use the public cloud (43%), rather than the much more expensive private cloud (35%). Cloud Workflow Market Telecommunication and IT Expected to Hold Significant Share: By Vertical, the Telecommunication and IT segment is projected to witness the highest CAGR of 16.84% during 2022-2029. Thanks to their lower operational costs and ability to improve overall customer happiness, this market is increasingly adopting cloud workflow solutions. The benefits of cloud process automation for IT and telecommunications organisations include centralising and consolidating request management systems to improve performance, accountability, visibility for service functions, automation of Service-Level Agreement (SLA) reporting requests, and manual effort reduction. According to a Cisco poll, 69% of IT decision-makers see BYOD as a real interest to workplace policies because it saves time for operators. BYOD use has increased 44.42 % in the US IT sector over the last three years, according to reports. With the growing number of mobile workers in enterprises and workplaces, the amount of data generated and managed has skyrocketed. This is expected to boost the growth of the cloud workflow market throughout the forecast period.

Cloud Workflow Market Reginal Analysis:

North America accounted for the largest market share in 2021, with a market value of US$ XX Bn; the regional market is expected to register a CAGR of 16.5% during 2022-2029. This growth is attributed to well-developed IT organisation and presence of major players operating in the economies in this region. This might be ascribed to the region's well-developed IT infrastructure and the presence of key companies in the market. Furthermore, increasing merger and acquisition activity among regional and international firms is projected to promote market expansion in this region. Due to increased usage from various industrial verticals, increased government expenditure on IT infrastructure development, and the presence of significant companies operating in this region, the Asia Pacific market is likely to rise at a faster rate. Competitive Landscape: The competitive landscape section in the  market offers a deep dive into the profiles of the leading companies operating in the global market landscape. It offers captivating insights on the key developments, differential strategies, and other crucial aspects about the companies having a stronghold in Cloud Workflow market globally. Such as, in June 2021, Pegasystems Company announced Pega Process Fabric, a new cloud based software architecture designed to streamline the way the organizations drive work across distributed enterprise technologies. With minimal deployment effort, this ‘platform for platforms’ breaks down technology silos to unify work across the enterprise and help improve user experiences for customers, partners and employees. The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the market dynamic, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the market make the report investor’s guide.

Global Cloud Workflow Market Scope: Inquiry Before Buying

Cloud Workflow Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $4.27 Bn.
Forecast Period 2022 to 2029 CAGR: 16.5 % Market Size in 2029: US $ 12.44 Bn.
Segments Covered: by Organization Size Small and Medium-sized Enterprises (SMEs) Large Enterprises
by Type Platform Services Consulting System Integration and Deployment Support and Maintenance
by Business Workflow HR Accounting and Finance Sales and Marketing Customer Service and Support Procurement and Supply Chain Management Operations Others
by Vertical BFSI Telecommunication and IT Retail and eCommerce Healthcare Government Manufacturing Others

Global Cloud Workflow Market by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Global Cloud Workflow Market Key Players

1.SAP 2.IBM 3.Pega 4.Microsoft 5.Appian 6.Micro Focus 7.Ricoh USA 8.Nintex 9.Pnmsoft 10.K2 11.Kissflow 12.Bp Logix 13.Viavi Solutions 14.Cavintek 15.Integrify 16.Processmaker 17.Process Street 18.Zapier 19.Accelo 20.Bpm'online 21.Trackvia 22.Flokzu 23.Bitrix 24.Decisions LLC 25.Zoho Frequently Asked Questions: 1] What segments are covered in the Cloud Workflow Market report? Ans. The segments covered in the Cloud Workflow Market report are based on Type, Organization Size, Business Workflow and Vertical, 2] Which region is expected to hold the highest share in the Cloud Workflow Market? Ans. North America region is expected to hold the highest share in the Cloud Workflow Market. 3] What is the market size of the Cloud Workflow Market by 2029? Ans. The market size of the Cloud Workflow Market by 2029 is US$ 12.44 Bn. 4] What is the forecast period for the Cloud Workflow Market? Ans. The forecast period for the Cloud Workflow Market is 2023-2029. 5] What was the market size of the Cloud Workflow Market in 2022? Ans. The market size of the Cloud Workflow Market in 2022 was US$ 4.27 Bn.
1. Global Cloud Workflow Market: Research Methodology 2. Global Cloud Workflow Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Cloud Workflow Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Cloud Workflow Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Cloud Workflow Market Segmentation 4.1 Global Cloud Workflow Market, By Organization Size (2022-2029) • Small and Medium-sized Enterprises (SMEs) • Large Enterprises 4.2 Global Cloud Workflow Market, By Type (2022-2029) • Platform • Services o Consulting o System Integration and Deployment o Support and Maintenance 4.3 Global Cloud Workflow Market, By Business Workflow (2022-2029) • HR • Accounting and Finance • Sales and Marketing • Customer Service and Support • Procurement and Supply Chain Management • Operations • Others 4.4 Global Cloud Workflow Market, By Vertical (2022-2029) • BFSI • Telecommunication and IT • Retail and eCommerce • Healthcare • Government • Manufacturing • Others 5. North America Cloud Workflow Market (2022-2029) 5.1 North America Cloud Workflow Market, By Organization Size (2022-2029) • Small and Medium-sized Enterprises (SMEs) • Large Enterprises 5.2 North America Cloud Workflow Market, By Type (2022-2029) • Platform • Services o Consulting o System Integration and Deployment o Support and Maintenance 5.3 North America Cloud Workflow Market, By Business Workflow (2022-2029) • HR • Accounting and Finance • Sales and Marketing • Customer Service and Support • Procurement and Supply Chain Management • Operations • Others 5.4 North America Cloud Workflow Market, By Vertical (2022-2029) • BFSI • Telecommunication and IT • Retail and eCommerce • Healthcare • Government • Manufacturing • Others 5.5 North America Cloud Workflow Market, by Country (2022-2029) • United States • Canada • Mexico 6. Asia Pacific Cloud Workflow Market (2022-2029) 6.1. Asia Pacific Cloud Workflow Market, By Organization Size (2022-2029) 6.2. Asia Pacific Cloud Workflow Market, By Type (2022-2029) 6.3. Asia Pacific Cloud Workflow Market, By Business Workflow (2022-2029) 6.4. Asia Pacific Cloud Workflow Market, By Vertical (2022-2029) 6.5. Asia Pacific Cloud Workflow Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Cloud Workflow Market (2022-2029) 7.1 Middle East and Africa Cloud Workflow Market, By Organization Size (2022-2029) 7.2. Middle East and Africa Cloud Workflow Market, By Type (2022-2029) 7.3. Middle East and Africa Cloud Workflow Market, By Business Workflow (2022-2029) 7.4. Middle East and Africa Cloud Workflow Market, By Vertical (2022-2029) 7.5. Middle East and Africa Cloud Workflow Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Cloud Workflow Market (2022-2029) 8.1. Latin America Cloud Workflow Market, By Organization Size (2022-2029) 8.2. Latin America Cloud Workflow Market, By Type (2022-2029) 8.3. Latin America Cloud Workflow Market, By Business Workflow (2022-2029) 8.4. Latin America Cloud Workflow Market, By Vertical (2022-2029) 8.5. Latin America Cloud Workflow Market, by Country (2022-2029) • Brazil • Argentina • Rest of Latin America 9. European Cloud Workflow Market (2022-2029) 9.1. European Cloud Workflow Market, By Organization Size (2022-2029) 9.2. European Cloud Workflow Market, By Type (2022-2029) 9.3. European Cloud Workflow Market, By Business Workflow (2022-2029) 9.4. European Cloud Workflow Market, By Vertical (2022-2029) 9.5. European Cloud Workflow Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest of Europe 10. Company Profile: Key players 10.1 SAP 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 IBM 10.3 Pega 10.4 Microsoft 10.5 Appian 10.6 Micro Focus 10.7 Ricoh USA 10.8 Nintex 10.9 Pnmsoft 10.10 K2 10.11 Kissflow 10.12 Bp Logix 10.13 Viavi Solutions 10.14 Cavintek 10.15 Integrify 10.16 Processmaker 10.17 Process Street 10.18 Zapier 10.19 Accelo 10.20 Bpm'online 10.21 Trackvia 10.22 Flokzu 10.23 Bitrix 10.24 Decisions LLC 10.25 Zoho

About This Report

Report ID 28481
Category Information Technology & Telecommunication
Published Date July 2023
Updated Date
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