Bill of Material Management Software Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
- Transparency Market Research
A bill of materials can be simply defined as a list of the raw materials, sub-assemblies, intermediate assemblies, sub-components, parts and the quantities of each needed to manufacture an end product. The traditional bill of material management or Excel based management was known to have some flaws such as incomplete data, data inconsistency, and incorrect data entry. In order to streamline the business and avoid unwanted losses, manufacturers are opting for bill of payment software. Bill of material management software helps manufacturers to keep a check on the purchases and other inventory details that helps them in reducing warehouse related losses.
The major factor driving the bill of material management software market is rising rate of internet usage and high demand for paperless operations in offices and institutes. In addition, e-government and e-commerce solutions and web applications have created demand for better web based billing solutions that support richer and more dynamic interactions. Other factors driving the growth of this market include rising demand for on the move information, increasing number of e-devices that can be used to access e-bills, and compatibility of e-bills with numerous devices such as smartphones, laptops, smart TVs, and other smart wearable devices. Also, consumer acceptance of digital content has a notable effect on the growth of this market. The major restraint for the bill of material management software market includes software piracy and security concerns among users. The impact of these restraints is expected to be moderate to low in the coming years.
The global bill of material management software market can be classified on the basis of deployment, solution, end user industry, and geography. On the basis of deployment, the market has been classified into cloud based, on premise, and hybrid. In terms of solution, the market has been segmented into compliance management, product data management, product lifecycle management, material requirement, and planning sales management. The end user industry segment has been classified into manufacturing, construction and engineering, transportation, healthcare and life science, consumer goods, and others. The product-lifecycle management application is expected to hold a larger share in the current market scenario.
On a regional basis, the bill of material management software market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America held a prominent share in the overall bill of material management software market, followed by Europe in 2017. Both these regions are expected to retain their positions in the next five years due to high focus on innovations obtained from research and development, and technology. The Asia Pacific region too is forecast to witness major growth in this market mainly due to the increasing technological adoption and wider demand among various industries for bill of material management software for cost competitiveness.
In the current scenario, few well established players have deeply penetrated into the bill of material management software market by introducing new competitive products. The companies are strengthening their position through merger & acquisition and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers. Furthermore, bill of material management software vendors are planning to invest in artificial intelligence, big data analytics, and advanced machine learning with a target to provide cost competitive and technologically advanced products in the market.
The key players active in the bill of material management software industry includes ANSYS, Dassault Systèmes SE, Autodesk, Arena Solutions, Aras, PTC, and Siemens PLM. Most of the companies are anticipated to further streamline their businesses and gain a considerable market presence in the near future.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.