The global work order management system market is US$ 771.26 Mn in 2018 and is estimated to reach US$ 1,641.15 Mn in 2027. The market for work order management system is highly driven by the increasing internet penetration and awareness of automated technologies for work processes. Also, the market growth is propelled by increasing adoption of automation in the manufacturing sector of emerging economies.
Work order management system helps in updating requests, creating work orders, as well as tracking the total work completed across enterprises. Work order management system is a single platform used for placing service requests, updating statuses, monitor in real-time, and provide feedback for the work executed. The growth in adoption and utilization of smartphones, mobile apps, and web-hosted tablets solutions for fast processing of the order, assets, and updating of status related to the work order. This increase the efficiency of the system by providing enhanced transparency, governance of organization & effective communication for long term relationship. This system is fully automated to help the user for completing redundant tasks, management of maintenance & service associated with the repairs, accountability for inventory.
The work order management system market is highly fragmented worldwide, and the industry is constantly experiencing the emergence of a new player with innovative technologies. With an objective to sustain in the industry and compete its peers, the companies are adopting several strategies which include competitive price, cloud-based technology, mergers and acquisition, and additional aftersales service. These strategies offer the companies significant competitive edge over the others. The work order management system market is poised to flourish in the coming years owing to the fact that, several developing country governments are attracting foreign direct investments (FDI) to optimize hectic and monotonous operations performed across industries with ease and precision. Additionally, the demand for mobile based application is growing at a rapid rate among the end users, which is compelling the providers to innovate and develop robust software for work order management system. The on-premise deployment is majorly adopted by large and well-established companies which are capable to invest such huge capital on maintaining these software. The on-premise structure needs software licenses, in-house server hardware, integration capabilities, and IT technicians to support, operate, and manage the complexities issues which may arise during the access of software. Attributing to the benefits of the on-premises deployment of work order management software, the end users are increasingly adopting the latest technology, which is boosting the market for work order management system market globally.
Some of the key companies operating in the field of work order management system across the globe include Astea International Inc., Infor Inc., Microsoft Corporation, IBM Corporation, Oracle, Hippo CMMS, ServiceMax, Inc., Innovapptive Inc., Coresystems AG (SAP SE), eMaint Enterprises, LLC and many more. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.