Soaring Demand Set to Propel Bill of Material (BOM) Software Market to $12.06 Billion by 2029

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Bill of Material (BOM) Software Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been robust growth in the Bill of Material (BOM) software market. The size of the market is projected to expand from $9.1 billion in 2024 to $9.64 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 5.9%. The previous period's growth can be accounted for by factors such as manufacturing complications, product intricacy, efficiency improvements, cost reduction, customer needs, and competitive pressure.

How Will the Bill of Material (BOM) Software Market Size Evolve and Grow by 2029?
In the upcoming years, a strong expansion is projected for the bill of material (bom) software market which is anticipated to rise to $12.06 billion in 2029 with a compound annual growth rate (CAGR) of 5.8%. This projected growth during the forecast period is due to factors like the resilience of the supply chain, sustainability and circular economy, remote work and collaboration, the rise of new technologies, and data-dependent decision-making processes. Major predicted trends for the forecast period encompass integration with the Internet of Things (IoT) and Industry 4.0, the application of AI and machine learning, improved collaboration features, customization capability, configurability, and emphasis on user experience (UX) design.

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What Drivers Are Propelling the Growth of Bill of Material (BOM) Software Market Forward?
Anticipation for the bill of material (BOM) software market is trending upwards, spurred on by the escalating demand for remote collaboration. This term pertains to teamwork on tasks, activities or projects distributed across different geographic locations. Factors pushing the uptick in remote collaboration include a shift away from office-centric work environments, improvements in technology facilitating virtual teamwork, and a preference for flexible working conditions. BOM software facilitates live updates to the bill of materials, guaranteeing all teammate can access the most up-to-date information and monitor adjustments as they materialize, irrespective of their time zones or schedules. As an example, a study by Upwork Global Inc., a freelancing platform based in the US, projected that around 32.6 million Americans, representing roughly 22% of the workforce, will be working remotely by 2025. This marks an 87% surge from levels prior to the pandemic. Consequently, the climbing demand for remote collaboration is fuelling expansion in the bill of material (BOM) software market.

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Which Emerging Trends Are Transforming the Bill of Material (BOM) Software Market in 2025?
Leading businesses in the bill of materials (BOM) software market are focusing on the creation of innovative solutions like software bill of materials (SBOM) to improve visibility and mitigate supply-chain risks. SBOMs are instrumental software systems or tools that offer real-time insights into intricate software atmospheres, thus empowering firms to make well-informed choices concerning their software supply chain risks. For example, Tanium, a system software firm based in the US, unveiled the Tanium Software Bill of Materials (SBOM) in November 2022. This solution is aimed at simplifying the management and monitoring process of the necessary components and materials for product manufacturing or assembly. This ground-breaking technology assists firms to proactively tackle security loopholes and bolster risk management. It is the only available solution, offering IT and security professionals detailed visibility and immediate remedies for software packages for every application on every endpoint during runtime.

What Are the Key Segments in the Bill of Material (BOM) Software Market?
The bill of material (bom) softwaremarket 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, Aftermarket BOM

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Who Are the Key Players Shaping the Bill of Material (BOM) Software Market's Competitive Landscape?
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.

What Geographic Markets Are Powering Growth in 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.

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