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What is the actual market-size (TAM) for the software as a service industry, for research workflow management ? Specifically - for SaaS used by researchers in corporations and governments to manage the research workflow, and paid for out of research budgets ?
Hello! Thanks for your question about the total addressable market for corporate and government research workflow management SaaS worldwide.
The short version is that after searching extensively through market research, academic and industry resources, and trusted media articles, I've determined that the information you requested is not publicly available because there is no aggregated data for usage of research workflow management systems on which we can base SaaS demand.
However, I was able to learn the market size for Enterprise Data Management software, which is the broader scope under which research management systems falls.
Below you will find a deep dive of my findings and methodology.
METHODOLOGY
To answer your question, I looked for information about research workflow systems in market research sites such as Markets and Markets, PRWeb, and others. I found plenty of reports about project management software, workflow management solutions, collaboration software, etc. but no information about workflow management software that caters directly to research projects. I then tried to find data about usage of research workflow systems but there was no existing aggregated data on which to base demand either for SaaS or other kinds of deployment. I then turned my research to the research management systems (RMS) itself, and found that it belongs under the umbrella of enterprise data management systems. I also studied how RMS is used and found that it is used differently by industries according to their unique needs, which might explain the lack of aggregated data about overall usage of RMS. Please continue below to see the results of my research.
RESEARCH MANAGEMENT SYSTEMS
According to InvestTech, research management systems (RMS) were first adopted by the financial industry to centralize and manage information. Later on, RMS were used to standardize the process of gathering and presenting data for compliance.
RMS functions as a part of the overall enterprise data management solution. I have researched this broader market which includes the public and private sector, as well as SaaS deployment.
ENTERPRISE DATA MANAGEMENT MARKET
According to research by Markets and Markets, the market size for enterprise data management software reached $64.7 billion in 2015 and will grow to $105 billion by 2020 at a CAGR of 10.2%.
Markets and Markets' analysis included the verticals for the public sector (government) as well as industries (finance, healthcare, retail, IT and telecom, energy, manufacturing, etc.). The report segments the market by software, service, deployment type and user type.
RMS USAGE
I found that research management software is used by different industries in different ways. For example, in the public sector the Australian Research Council uses its RMS to manage research proposals, assessments and rejoinders for its national grants program. The Australian National University on the other hand has expressed demand for an enterprise system to handle its research outputs and data retrieval in the academy. Finally, Forte Research System advocates using a clinical research management system for managing activities related to protocol, trial subjects, financials and others.
Looking at these case studies for RMS usage suggests that a research management system would need to be customized for a specific industry with its specific needs.
CONCLUSION
To wrap it up, after searching extensively through market research, academic and industry resources, and trusted media articles, I've determined that the information you requested is not publicly available because there is no aggregated data for usage of research workflow management systems on which we can base SaaS demand. However, I learned that the market size for enterprise data management software (under which the niche market of research management system falls) will grow from $64.7 billion in 2015 to $105 billion by 2020 at a CAGR of 10.2%.
Thanks for using Wonder!