Work Order Management Systems Market Size, Share, Key Players, Growth Trend, and Forecast, 2020–2028

The Global Work order management systems market is forecast to reach USD 1.03 Billion by 2028, according to a new report by Reports and Data. There are various advantages associated with work order management systems that are propelling the growth of the market. As an instance, it is useful in minimizing unexpected issues, i.e., reducing occurrences of breakdowns in the functioning of business assets, results in the automation of maintenance process. The mentioned benefits of work order management system are resulting in its increased demand among the end-user industries, which is boosting the growth of the market. Different initiatives taken by the key players of the market is also propelling the growth of the market. Astea International, a key player of the market, had introduced Alliance Field Service Management and Mobility Platform that provides with real-time and intuitive interactions. In 2020, it decided to showcase this platform at Field Service Forum in Amsterdam. Such initiatives taken by the key players of the market are boosting growth prospective.

Various other advantages of this system like flexibility in the production process of an organization and delivering a product as per specifications of the customer along with enhanced material capacity and order tracking options also promotes the growth of the market. These benefits of work order management system have resulted in its increased preference among end-user industries that contributes to the expansion of the market.

In regards to the region, Europe has a prominent market presence that holds the second-largest market share in the work order management systems market. The market share occupied by Europe is the result of the emphasis on innovations in IT technologies, R&D activities, and expansion of various industries in this region.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1603

Further key findings from the report suggest

• Work order management systems market held a market share of USD 516.1 Million in the year 2020, with a growth rate of 9.0% during the forecast period.
• In the context of the Component, the Solutions segment generated a higher revenue of USD 26.5 Million in 2020 with a CAGR of 5.2% during the forecast period. The revenue generated by the Solutions segment is the result of the high rate of deployment of work order management solutions in the operation of various end-user industries due to its effectiveness in assisting these industries in organizing and managing field resources.
• In regards to Deployment type, the On-Premises segment yielded a higher revenue of USD 315.4 Million in 2020 with a CAGR of 7.7% during the forecast period. The revenue generated by the On-Premises segment is the result of high reliability and security of on-premises software that has resulted in a high preference of on-premises deployment of the work order management systems.
• In regards to End-users, the Manufacturing segment occupied the largest market share of 21.0% in 2020, with a CAGR of 9.7% during the forecast period. The market share held by the Manufacturing segment is the result of high applicability of the work order management systems in the functioning of the industry. The reason being, the system is useful for the sector in effectively managing different types of repair activities and manufacturing processes. The fact this system provides with flexibility in production managing process and deliver a product as per customer specifications have also resulted in its increased incorporation in the functioning of the industry. Its increased inclusion is contributing to the market share of the Manufacturing segment.
• In regards to region, Asia Pacific is forecasted to witness the highest growth rate of 10.2% during the forecast period. The growth rate of the Asia Pacific region is attributed to the high rate of industrialization in this region, advancements in cloud-technologies, digitalization, rapid globalization and economic advancements of this region.
• Key participants include IBM, Clicksoftware, IFS, Microsoft, ServiceMax, Innovapptive, Maintenance Connection, Netsuite, Coresystems, and Servicechannel.

The Global Work Order Management Systems Market is segmented as follows:

Component Type Outlook (Revenue, USD Million; 2020-2028)
• Solutions
• Services
o Managed Services
o Professional Service

Deployment Type Outlook (Revenue, USD Million; 2020-2028)
• Cloud
• On-Premises

Organization size Type Outlook (Revenue, USD Million; 2020-2028)
• Large Enterprises
• Small and Medium-Sized Enterprises

End-users Type Outlook (Revenue, USD Million; 2020-2028)
• Banking, Financial Services, and Insurance [BFSI]
• Manufacturing
• Telecom and IT
• Healthcare and Life Sciences
• Transportation and Logistics
• Consumer Goods and Retail
• Energy and Utilities
• Real Estate and Construction
• Others

Application Type Outlook (Revenue, USD Million; 2020-2028)
• Preventive Maintenance
• General Work Order
• Inspection
• Corrective Maintenance
• Emergency work order

Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1603

Market Segmentation by Regions:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Answered by the Report:

• Which market segment or sub-segment is expected to grow at the highest CAGR during the forecast timeline?
• What is the forecast valuation of the Work Order Management Systems market?
• Who are the leading players in the industry? What are the weaknesses and strengths of these players?
• What are the strategic business steps and initiatives taken by the key competitors in the industry?
• What region is expected to dominate the market in the forecast period?

To know more about the report, visit @ https://www.reportsanddata.com/report-detail/work-order-management-systems-market

Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or queries about customization options, please reach out to us, and we will offer you the report best suited for your needs.

Have a Look at Related Reports:

Employee Remote Monitoring Software Market Scope @ https://www.reportsanddata.com/report-detail/employee-remote-monitoring-software-market

Property Management Software Market Share @ https://www.reportsanddata.com/report-detail/property-management-software-market

Farm Management Software and Services Market Forecast @ https://www.reportsanddata.com/report-detail/farm-management-software-services-market

Robot Industry market Forecast @ https://www.reportsanddata.com/blog/top-8-robotics-industry-trends

Watch Industry Scope @ https://www.reportsanddata.com/blog/the-watch-industry-a-short-history-and-the-top-10-brands-today

Contact Us:
John Watson
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

This release was published on openPR.