Pune, India -- (SBWIRE) -- 03/26/2019 -- 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.
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.
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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.
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 report aims to provide an overview of the global work order management system market with detailed market segmentation. Also, it analyzes the current work order management system market scenario and forecasts the market till 2027. The report covers market dynamics affecting the work order management system market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the work order management system market with respect to all geographic regions. The report also includes the detailed company profiles of the key players in the work order management system market along with their market strategies. The report also provides PEST along with the SWOT analysis for all company profiled in the report.
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.
Europe leads the global market share followed by North America, and Asia-Pacific. Factors such as growing demand for efficient management of organization assets, inventories, and scheduling maintenance is a major factor driving the market demand. In addition, the growing popularity of the cloud, mobile, and web solutions for real-time monitoring and maintenance tracking is also expected to propel the market growth in the coming years. China and India respectively have witnessed substantial demand for robust and efficient work order management related solutions and services in the past year.
Global Work Order Management System Market - By Component
- Solutions
- Services
Global Work Order Management System Market - By Deployment Mode
- On-Premises
- Cloud
Global Work Order Management System Market - By End User Industry
- IT & Telecom
- Manufacturing
- BFSI
- Healthcare
- Retail
- Transportation
- Others
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