The case management software market in North America is expected to see substantial growth, with projections indicating a rise from $2.37 billion in 2023 to $4.48 billion by 2030, according to ResearchandMarkets.com.
This expansion reflects a robust CAGR of 9.89% during the forecast period, the report says.
The report identifies the growth trajectory as underpinned by several key drivers.
Primarily, there is an increasing demand for efficient case handling and data management across various sectors including legal, healthcare and social services.
Further fueling the market’s expansion is the integration of advanced technologies such as AI, machine learning and cloud computing into CMS.
The report identifies the case management software market as highly competitive, with leading companies such as AbacusNext, Actionstep, Athena Software, Casebook, CoCounselor, CosmoLex, FAMCare, IBM, Rocket Matter, Salesforce and Social Solutions.
Collectively, the report identifies these firms as holding approximately 65-75% of the market share.
Their competitive strengths are reinforced by ‘aggressive’ research and development activities, as well as strategic partnerships and collaborations that highlight their commitment to broadening and enhancing their market footprint and the range of services they offer, the report says.
Competition, the report says, is driven by factors such as pricing strategies, product quality, and the degree of technological innovation. As the market continues to grow, the competition among these top players is expected to become even more fierce. The constant drive for innovation and the need to meet changing consumer demands and comply with strict regulatory standards are pronounced. This dynamic environment is expected to stimulate further innovation and strategic efforts by these leading firms, driving growth and ongoing changes in the sector.
In 2023, the United States held a dominant position in the case management software market, securing 80.33% of the market share.
The report says this substantial market share reflects the advanced technological infrastructure and the strong presence of leading software companies within the country.
The US market is said by the report to benefit from a robust ecosystem that supports innovation, including significant investments in R&D and a competitive business environment that drives the adoption of new technologies.
Moreover, the US is projected to maintain its leadership with the highest CAGR of 10.09% during the forecast period. This growth is anticipated due to several factors including the increasing demand for automation and efficient data management across various sectors.
The report concludes that the North American case management software market is robustly supported by the critical need for efficiency and automation across various sectors.
As organizations continue to navigate the complexities of digital transformation, the adoption of case management software is expected to grow, reinforcing its position as a backbone of enterprise efficiency and innovation, the report says.
