The global case management software (CMS) market valuation is projected to reach USD 7.2 Billion in 2023. Demand in the market is forecast to increase at a robust 9.6% CAGR, pushing the market size to USD 18.2 Billion by 2033.
As per FMI, rapid technological advancements, and the introduction of Big Data, artificial intelligence (AI), cloud computing, machine learning (ML), and automation are driving sales of CMS. These technologies have become essential in improving economic competitiveness, thereby propelling the growth in the market.
Healthcare, insurance, law, banking, and social services are the main sectors using case management solutions to handle business processes easily. Due to advancements in software, hardware, and communication technology, case management technology is transforming the market gradually. With the help of CMS, industries such as BFSI and healthcare can reduce the expenditure and the time required to manage documents.
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Healthcare service providers go through a lot of paperwork, scheduling, billing, and other unplanned activities to deliver quality services to patients. Over the years, the healthcare industry has been leveraging technology to address these issues. Technology in healthcare has improved many functions such as maintaining, registering patient information, and tracking diagnosis.
North America is expected to dominate the global case management software (CMS) market with total sales reaching a valuation of USD 4.6 Billion by 2033. The presence of leading providers and the adoption of automated workflow systems in large enterprises as well as SMEs will augment the growth in the market.
Key Takeaways from the Case Management Software (CMS) Market Report:
- By deployment mode, the on-premises segment is anticipated to account for 52.5% of the global case management software market by 2032.
- Based on business function, total sales in the service request segment will hold 32.6% of the total market share over the forecast period.
- In terms of enterprise size, the small & mid-sized enterprises segment will expand at an 11% CAGR through 2032.
- By industry, the adoption of case management software in the healthcare sector will grow by 2.6x over the forecast period.
- Sales in the China CMS market will increase at a 7.1% CAGR over the assessment period.
- The U.K. will dominate the Europe case management software market, with demand growth at a 7.9% CAGR through 2032.
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Competitive Landscape
Players in the case management software market are focused on mergers and acquisitions as well as new product development. Strategic mergers with technical giants benefit manufacturers since they bring value to the merged firm by eliminating redundancies and raising total income. New product development enables businesses to generate a continuous supply of unique offerings and achieve a competitive advantage.
For example:
- In April 2022, Paradigm, a legal software supplier, announced the acquisition of LollyLaw, a provider of cloud-based practice management solutions to law firms. With this acquisition, Paradigm promises to provide the best-in-class legal case management software. LollyLaw provides a single user-friendly platform with features like calendaring, intake, document management, time and billing, and a client portal.
- In January 2021, Social Solutions, a global cloud-based software supplier, purchased Athena Software, a case management software solution provider. The organizations have a mission of using data and analytics to create long-term social change in communities, and they will collaborate to accelerate product development for the benefit of their clients.
Leading Key Players:
- IBM
- Needles
- KANA
- Social Solutions
- Themis Solutions (Clio)
- AbacusLaw
- MyCase
- Smokeball
- SmartAdvocate
- Jarvis Legal
- Anaqua
- LegalEdge
- HoudiniEsq
- CosmoLex
- Rocket Matter
- Actionstep
- Firm Central
- Prevail
- CoCounselor
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Case Management Software Market Segmentation:
By Deployment Mode:
- On-premise CMS Software
- Cloud-based CMS Software
By Business Function:
- Service Request
- Fraud Detection and Anti-Money Laundering
- Incident Management
- Investigation Management
- Legal Workflow Management
By Enterprise Size:
- Small and Mid-Sized Enterprises (SMEs)
- Large Enterprises
By Industry:
- IT & Telecom
- Retail
- Government
- Healthcare
- BFSI
- Manufacturing
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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