High adoption of Work Order Management System by Manufacturing Industry is anticipated to escalate the Work Order Management System Market at a CAGR of 9.2%
Latest market study on "Work Order Management System Market to 2027 by Deployment Type (On-Premise and Cloud), Component (Solution and Service); and End-user Industry (IT & Telecom, Manufacturing, BFSI, Healthcare, Retail, and Transportation) -Global Analysis and Forecast", the work order management system Market is estimated to reach US$ 1,641.15 Mn in 2027 from US$ US$ 771.26 Mn in 2018. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Each and every end-user industry has its specific needs and challenges. Some industries highly focusses on manufacturing goods, while others focus on customer satisfaction. Irrespective of the industry, two aspects remain constant i.e. keeping operating costs under control as well as keeping best operating condition of the assets. The work order management helps diverse end-user industries to increase their productivity and reduce down-time by managing work orders on a timely manner.
The global work order management system market by end-user industry is fragmented into IT & telecom, manufacturing, BFSI, healthcare, retail, transportation, and others. Work order processes are essential part of production order, material procurement, as well as logistics processes. The production as well as the maintenance performance indicators should be integrated to boost management for cooperating completely towards areas such as safety, productivity, quality, cost reduction, energy consumption, and environmental impact. With work order management, it is possible to plan preventive work orders with evaluation on number of hours and material required. The material then can be procured and the work can be assigned to a group or person. It is very important to integrate maintenance plan with production plan for reducing downtime owing to improper planning. Work order management system in manufacturing helps to manage work orders for production, and to track inventories required for production.
Further, work order management system market is expected to experience significant growth in the coming years due to the increasing demand of work order management system by the IT & telecom end-users. Order management is essential for telecom providers as telecom order management is an extremely complex, which generally involve lots of sub-processes including partner organizations, multiple systems, and departments. These complexities further increases when orders are highly customized and multifaceted.
The market for work order management system 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. The major companies operating in the market include Astea International Inc., Infor Inc., Microsoft Corporation, IBM Corporation, Oracle, Hippo CMMS, ServiceMax, Inc., Innovapptive Inc., Coresystems AG (SAP SE), and eMaint Enterprises, LLC among others.
The report segments the Global Work Order Management System Market as follows:Global Work Order Management System Market - By Component
Global Work Order Management System Market - By Deployment Mode
Global Work Order Management System Market - By End User Industry
Global Work Order Management System Market - By GeographyNorth America
- IT & Telecom
Asia Pacific (APAC)
- Rest of Europe
Middle East and Africa (MEA)
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of MEA
- Rest of South America (SAM)
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