ICT-IOT

Case Management Market is Expected to Reach USD 15.37 Billion by 2030

Jan 2024

ICT-IOT

As per the report published by Kings Research, the global Case Management Market was valued at USD 6.83 billion in 2022 and is projected to reach USD 15.37 billion by 2030, growing at a CAGR of 10.89% from 2023 to 2030.

The notable development in case management is the growing focus on client-centered and strength-based practice. In essence, this approach involves case managers recognizing and honoring the attitudes, principles, aspirations, and aptitudes of clients, and actively including them in the process of determining their care needs and goals.

This model seeks to foster a sense of empowerment and autonomy among individuals receiving support services, helping them to independently identify and capitalize upon the skills and resources they possess. By honoring the strengths and preferences of clients, case managers can cultivate a more positive and constructive therapeutic relationship, ultimately leading to more meaningful and successful outcomes for all parties involved.

Key Insights

  • On the basis of components, the software segment is anticipated to register a significant CAGR of 11.4% during the forecast period from 2023 to 2030
  • Based on deployment, the cloud-based segment is anticipated to register a significant CAGR of 11.66% during the forecast period from 2023 to 2030
  • On the basis of organization, the small and medium enterprises segment held the largest market share of 34.97% in 2022
  • Based on business function, the service request segment is anticipated to register a significant CAGR of 8.54% during the forecast period from 2023 to 2030
  • On the basis of vertical, the BFSI segment is anticipated to register a significant CAGR of 8.94% during the forecast period from 2023 to 2030
  • On the basis of the region, the Asia-Pacific segment is anticipated to emerge as the fastest-growing CAGR of 12.91% during the forecast period

Rising Adoption of Centralized Data Management Software to Drive Market Growth

The adoption of centralized data management solutions can positively impact case management in various fields such as healthcare, environment, adoption assistance, and a few others. Case management systems require accurate, timely, and relevant data to support effective decision-making and resource allocation. Centralized data management solutions can provide this by consolidating disparate sources of information and presenting it in a unified, reliable, and accessible manner.

For instance, in healthcare, a centralized data management system can provide clinicians with access to patient data such as medical history, past treatments, and lab results, which can help inform diagnosis and treatment decisions. Overall, the adoption of centralized data management solutions can help streamline case management processes.

Implementation of Advanced Technologies in Case Management Solutions is a Vital Trend

The case management market is experiencing a rise in technological advancements, such as the integration of artificial intelligence (AI) in case management solutions. This AI-based software can capture customer sentiment and streamline workflow to foster efficient resolutions. Market leaders are capitalizing on this trend by offering AI-powered case management software that enables streamlined case handling.

For instance, Sprinklr, a US-based software company, leverages AI, listening and monitoring tools, and a unified customer experience management platform to discern customer sentiment and automate workflows. This results in quicker case resolutions, improved customer satisfaction, and cost efficiency. The implementation of advanced technologies in case management solutions offers key players the opportunity to strengthen their position in the market.

Asia Pacific is Anticipated to be the Fastest Growing CAGR of 12.91% over the Forecast Period

Asia Pacific region is experiencing a rise in the adoption of case management solutions. This trend is attributed to the growing acceptance of technological advancements, such as the integration of artificial intelligence (AI) in case management software. AI-based software can capture customer sentiment, refine cases and automate functions resulting in streamlined case management and efficient case resolutions. Leading players are leveraging this trend by focusing on offering AI-based case management solutions, such as Sprinklr, which uses a unified customer experience management platform to discern customer sentiment, filter cases, and automate workflows. As the adoption of these advanced technologies continues to rise in the Asia Pacific region, we can expect further growth in the case management market.

Rising Investment on Product Innovations to Propel Market Growth

The global case management market study is fragmented with key players such as IBM Corporation, Appian, Newgen Software Technologies Limited, Pegasystems Inc., Kofax, ServiceNow, OPEXUS (AINS, LLC), CGI Inc., Hyland Software, Inc., Microsoft, Salesforce, Inc., SAS Institute Inc., Column Case Management. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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