A case is a combination of multiple tasks (planned or unplanned) toward a concrete objective or goal. To ensure improvements in the operational efficiency and excellence, enterprises are looking for process management solutions that will not only drive their business processes but also help them keep pace with the growing market regulations. Traditional processes were manual and incurred a lot of time and money; they were also more prone to errors, as manual labor was involved. With process automation, enterprises can automate their processes, resulting in higher efficiency.
MarketsandMarkets forecasts the Case Management Market to grow from USD 4.79 Billion in 2017 to USD 7.62 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period.
The solution segment is estimated to have the larger market share in the case management market in 2017.
The demand for case management solutions is increasing in organizations, irrespective of the organization size. The deployment of case management solutions varies according to the different needs of the end-users. The large enterprises segment is estimated to dominate the market with the larger market size, as large organizations in industries, such as banking and government, have various complex business processes.
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The retail vertical is expected to grow at the highest CAGR in the case management market during the forecast period.
The retail vertical is expected to witness the fastest growth rate, as the vertical has increased its spending in Customer Relationship Management (CRM) to manage customers’ needs, thereby helping enterprises in the vertical increase the efficiency of their business processes. IT has become an essential part of every retail business and has streamlined customer-centric processes in the retail vertical. Companies are trying to improve their competitive edge, exceed customer expectations, and increase revenues.
The major case management vendors include Pegasystems (US), Appian (US), IBM (US), Newgen Software (India), DST Systems (US), Dell Technologies (US), AINS (US), Pulpstream (US), and Kofax (US). These players have adopted various growth strategies, such as new product developments, acquisitions, partnerships, collaborations, and business expansions, to increase their presence in the case management market.
The case management market has witnessed several partnerships, agreements, and collaborations undertaken by the key players from 2015 to 2017. In December 2017, IBM partnered Blue Prism to deliver digital transformation strategies to customers. Clients across a range of industries are utilizing the services of Blue Prism to drive innovations and improve the overall customer service. In June 2017, Appian collaborated with Microsoft to create an app that integrates Appian’s dynamic case management platform with Microsoft’s enterprise productivity tools. In April 2017, Appian partnered with MuleSoft to integrate its dynamic case management platform with MuleSoft’s Anypoint Platform.
The key players also adopted the strategy of business expansions to increase their geographic footprint in the case management market. In December 2016, Appian announced the expansion of Appian Cloud in the United Kingdom (UK) to provide increased local data hosting options for the UK customers. In the same month, Appian expanded its business in Canada by making Appian Cloud available in the country.
The major players in the case management market also launched new products and introduced product upgradations to strengthen their product portfolios and provide their offerings to new clients. In October 2017, Pegasystems added new Artificial Intelligence (AI) and virtual assistant capabilities in its solutions to enable faster and more effective responses to customer service requests across all channels. In September 2017, Appian launched its digital transformation platform that can be deployed on Microsoft Azure Infrastructure-as-a-Service (IaaS) to help customers receive benefits from Appian and Azure in their digital business transformation initiatives. In September 2015, Pegasystems added case management, electronic data capture, omnichannel service, and social media tracking to Pega Pharmacovigilance to manage event reporting.
The case management market has evolved from a customer-centric approach into a process-centric approach, which is used for improving business results. With ongoing developments in the capabilities of case management solutions, such as process automation; and huge opportunities in cloud-based case management solutions, the case management market is expected to gain significant traction in the next 5 years.
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Case management market vendors are continuously introducing innovations in their products and services to help organizations achieve operational efficiency by streamlining their business functions and processes. With the advent of digital technologies in the Information Technology (IT) industry and the increasing demand for software automation and innovative applications, solution vendors are striving to remain competitive in the case management market.
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