Dallas/ Texas, Oct. 27, 2022 (GLOBE NEWSWIRE) -- A collection of tools and technologies called workflow solutions and are used to simplify corporate procedures. They support enterprises by automating repetitive processes, enhancing employee interaction and cooperation, and streamlining overall workflows. Additionally, workflow solutions provide functions including document management, corporate reporting, and analytics. Workflow solutions come in many different varieties and are employed for a range of applications. Data flow across various systems and applications is made easier by data integration solutions. At a CAGR of 14.3% over the forecast period, the Workflow Solution Market is anticipated to increase from USD 9.49 billion in 2019 to USD 20.3 billion in 2029.
Top Manufacturers in Workflow Solution Market
- IBM Corporation (US)
- Oracle Corporation (US)
- Xerox Corporation (US)
- Nintex Global Limited (US)
- Source Code Technology Holdings (US)
- Software AG (Germany)
- Appian (US)
- Pegasystems (US) & among others.
The ability to communicate in real-time amongst coworkers is provided by real-time communication technologies. Organizations can automate tedious operations and increase productivity with the use of workflow automation technologies. Healthcare professionals can work together more effectively with the help of care collaboration solutions. Enterprise analysis and reporting solutions assist businesses in producing reports and comprehending market trends.
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Due to the numerous advantages they provide to businesses, the workflow solution market is necessary. Workflow solutions assist firms in streamlining overall workflows, enhancing employee cooperation and communication, and automating routine tasks. Additionally, workflow solutions provide functions including document management, corporate reporting, and analytics. The market for workflow solutions is expanding as a result of factors like the increased need to save operating costs and enhance patient care. Additionally, the expanding need for workflow automation, care collaboration, and real-time communication solutions globally is assisting in the expansion of this industry.
Workflow Solution Market Segmentations
Deployment Overview, 2019-2029
- On-Cloud
- On-Premises
Component Overview, 2019-2029
- Software
- Service
Vertical Overview, 2019-2029
- BFSI
- Healthcare
- Retail
- IT/Telecom
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The leading companies throughout the workflow solutions market are Cerner Corporation in the US, MEDITECH in the US, Athenahealth, Inc. in the US, eClinicalWorks in the US, Koninklijke Philips N.V. in the Netherlands, Epic Systems Corporation in the US, GE Healthcare in the UK, McKesson Corporation in the US, Allscripts Healthcare Solutions, Inc. in the US, and Siemens Healthineers in the US (Germany). To increase their market share for workflow solutions, these businesses have used a variety of growth methods, including alliances, joint ventures, and product releases.
Global demand for real-time communication, workflow automation, and care collaboration solutions is the major factor fueling this market's expansion. Additionally, the expanding demand for lowering operational costs and enhancing patient care is fueling the expansion of this industry.
The sector with the highest CAGR during the projected period is predicted to be data integration solutions. One of the key factors fueling the expansion of both this segment and the market for workflow solutions is the increasing demand for data exchange between various applications and systems.
Regional Overview of Workflow Solution Market
North America
- U. S
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
South America
- Mexico
- Brazil
- Rest of South America
Middle East and South Africa
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Throughout the course of the forecast period, hospitals are anticipated to account for the greatest share of the market for workflow solutions. One of the key factors fueling the growth of both this segment and the workflow solutions market is the rising need in hospitals to streamline tedious operations and enhance communication and collaboration amongst staff.
During the forecast period, North America is anticipated to account for the highest share of the market for workflow solutions. A few of the key factors propelling the expansion of this market are the abundance of workflow solution providers in this area and the rising demand for these products in North America.
To diversify its offering of home care services, Philips purchased ClearCare in January 2019. With the aid of this acquisition, Philips will be able to provide home care providers with an integrated workflow solution.
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