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(Wireless-NewsWire.Com, April 24, 2019 ) Cloud Workflow Market is expected to witness significant growth, due to factors such as the increasing adoption of cloud-based workflows, increasing adoption of cloud-based workflow from the SMEs, and the growing focus on streamlining workflows and business processes. The rising use of Artificial Intelligence (AI) presents new business opportunities, and growing focus on digital transformation initiatives are expected to provide growth opportunities for cloud workflow vendors.
The cloud workflow market is expected to grow from USD 1.75 billion in 2018 to USD 3.85 billion by 2023, at a CAGR of 17.1% during the forecast period.
The cloud workflow market ecosystem includes players such as
• SAP (Germany)
• IBM (US)
• Appian (US)
• Pegasystems (US)
• Micro Focus (UK)
• Microsoft (US)
• Ricoh (US)
• Nintex (US)
• PNMsoft (England)
• TrackVia (US)
• Flokzu (Uruguay) and many more.
The cloud workflow market is gaining traction owing to the growing need for streamlined business processes. Organizations are burdened with repetitive work procedures that reduce the efficiency and prolong the time required to accomplish business operations, which is why they are increasingly considering the transformation of conventional cloud workflows to automate the functioning of business processes and assist the management in efficient decision-making.
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.
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Source: EmailWire.Com 
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