Press release
Bill of Material (BOM) Software Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Bill of Material BOM Software Market Size
The burgeoning demand for collaboratively working remotely is predicted to galvanize the expansion of the bill of material (BOM) software market. This refers to the cooperation on projects, tasks, or undertakings with individuals or teams established in distinct physical locales. Due to various factors like the shift to remote work, advancements in technology that permits virtual collaboration, and the pursuit of flexibility in work arrangements, remote collaboration is gaining in popularity. BOM software facilitates real-time updates in the bill of materials, making sure all team members, irrespective of their time zones and schedules, may access the most up-to-date information and follow the changes as they transpire. As per a report by Upwork Global Inc., a freelancing platform based in the US, published in June 2023, it is estimated that by 2025, approximately 32.6 million Americans, which is about 22% of the workforce, will be working remotely. This will represent an impressive 87% increase from levels before the pandemic. All these points to a growing demand for remote collaboration, fuelling the rise of the bill of material (BOM) software market.
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What Is the projected market size and growth rate for the bill of material (bom) software market?
In recent times, there has been robust growth in the bill of material (BOM) software market. The market, currently estimated at $9.1 billion in 2024, is projected to experience a rise, reaching the $9.72 billion mark in 2025. This signifies a compound annual growth rate (CAGR) of 6.8%. Several factors contributing to this growth in the historical period include intricate manufacturing processes, product complexity, efficiency improvements, cost-saving measures, customer necessities and competition-related pressures.
In the coming years, The bill of material (BOM) software market is projected to witness robust growth. The market is anticipated to expand to a value of $12.47 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.4%. The growth in this forecast period is attributed to factors such as supply chain resilience, sustainability and circular economy, the shift towards remote work and cooperation, the emergence of new technologies, and data-driven decision-making processes. Key trends in this forecast period include integration with Internet of Things (IoT) and Industry 4.0, application of artificial intelligence (AI) and machine learning, enhanced collaboration features, customization and configurability options, and focus on user experience (UX) design.
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What trends are poised to drive the future success of the bill of material (bom) software market?
Leading enterprises in the bill of materials (BOM) software market are creating groundbreaking solutions like software bill of materials (SBOM) to improve transparency and counteract supply chain risks. SBOM tools or systems allow organizations to have real-time insight into complicated software environments and can assist in making more knowledgeable decisions regarding software supply chain dangers. For instance, in November 2022, Tanium, an American company specializing in system software, introduced the Tanium Software Bill of Materials (SBOM). This new approach simplifies the control and monitoring of components and materials necessary for product construction or assembly. This advanced technology allows organizations to actively tackle security weaknesses and amplify risk management. It offers an unrivaled solution that grants IT and security experts in-depth visibility and instantaneous resolution of software packages for all applications on every endpoint at runtime.
What major market segments define the scope and growth of the bill of material (bom) software market?
The bill of material (BOM) software market covered in this report is segmented -
1) By Type: Engineering BOM, Manufacturing BOM, Service BOM
2) By Deployment: On-Premise, Cloud-Based
3) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
4) By Application: Automotive, Aerospace And Defense, Electrical And Electronics, Medical Devices, Industrial Machinery, Consumer Goods
Subsegments:
1) By Engineering BOM, Design BOM, Product Structure BOM, Prototype BOM
2) By Manufacturing BOM, Assembly BOM, Process BOM, Material BOM
3) By Service BOM: Maintenance BOM: Spare Parts BOM, After market BOM
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Which region dominates the bill of material (bom) software market?
North America was the largest region in the bill of material (BOM) software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bill of material (BOM) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the bill of material (bom) software industry growth?
Major companies operating in the bill of material (BOM) software market are Siemens AG, Oracle Corporation, SAP SE, Fujitsu Ltd., Dassault Systèmes SE, Autodesk Inc., Cadence Design Systems Inc., Infor Inc., Lectra SA, Altium Limited, Zuken Inc., Silicon Expert, Tacton Systems AB, Fast React Systems Ltd., Arena Solutions Inc., HTS Inc., Aras Corporation, SofTech Group Inc., Xavor Corporation, Timesys Corporation, FlexSim Software Products Inc., Omnify Software Inc., Onshape Inc.
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What Is Covered In The Bill of Material (BOM) Software Global Market Report?
• Market Size Forecast: Examine the bill of material (bom) software market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the bill of material (bom) software market for a structured understanding.
• Key Players Overview: Analyze major players in the bill of material (bom) software market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the bill of material (bom) software market.
• Segment Contributions: Evaluate how different segments drive overall growth in the bill of material (bom) software market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the bill of material (bom) software market.
• Industry Challenges: Identify potential risks and obstacles affecting the bill of material (bom) software market.
• Competitive Landscape: Review strategic developments in the bill of material (bom) software market, including expansions, agreements, and new product launches.
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A software bill of materials (BOM) is a list of components in software. Software vendors often combine open source and commercial software components to create their products. The software BOM describes the components of a product. It is similar to a list of ingredients on food packaging.
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About the Bill of Materials (BOM) Software Market
The BOM is a list of raw materials, parts, and components and the quantity of them required to manufacture a product. There are three types of BOM:
Manufacturing BOM: It is a list of parts required to manufacture a complete product.
Engineering BOM: It is a list of parts required as per the…
