[Latest Market Study] Work Order Management Systems Market Scope And Overview: Latest Developments And Technology Forecast, 2023-2030

(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Delaware, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Global Work Order Management Systems Market is valued at US$ 812.1 million in 2023 and is expected to grow at a significant CAGR of over 9.8% over the forecast period of 2023-2030, according to the latest market report by RationalStat

Market Definition, Market Scope, and Report Overview

A work order management system (WOMS) is a software application or platform that helps organizations streamline and automate the process of issuing, allocating, tracking, and managing work orders. Work orders are often used to request, schedule, and perform equipment, asset, facility, or other resource maintenance, repair, or service tasks.

Work order management solutions make it easier to create, assign, track, and complete work orders. This efficiency leads to higher production, decreased downtime, and cost savings for businesses, making these systems very appealing.

• According to a deep-dive market assessment by RationalStat, the global work order management systems market has been analyzed on the basis of market segments, including component, organization size, deployment type, industry vertical and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific) . The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
• Market intelligence for the global work order management systems market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
• In addition, the long-term sector and products/services 10-year outlook and its implications on the global work order management systems market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Work Order Management Systems Market: Segmental and Market Share Analysis

• On the basis of component, services segment is expected to dominate the global market in terms of revenue and market share.
• On the basis of industry vertical, telecom and IT segment dominated the market and will show its dominance during the forecast period. Growing demand of remote work dominate the telecom and IT segment.
• On the basis of region, North America dominated the global work order management system market owing to several solution providers in the region, such as IBM, Microsoft, oracle and salesforce.

Report Synopsis

Report Metrics	Details
Base Year	2023
Forecast Period	2023-2030
Base Year Market Size	US$ 812.1 million
Market Size Forecast	US$ 1,721.8 million
Growth Rate	9.8%
Key Market Drivers	Growing remote work IoT integration Strict regulatory compliance
Companies Profiled	Oracle IBM Microsoft IFS ClickSoftware Astea Solutions AD Infor ServiceMax Coresystems FieldAware

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Competition Analysis and Market Structure

Companies and software developers engaged in the word order management systems market are striving to adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global work order management systems market include,

• In November 2022, Microsoft introduced the Microsoft Supply Chain Platform and announced the availability of a preview of the supply chain centre, which is a component of the Microsoft Supply Chain Platform. Microsoft supply chain centre is integrated natively with a company's supply chain data and applications, providing built-in collaboration, supply and demand insights, and order management.
• In May 2022, SAP collaborated with Apple to develop digital supply chain apps. SAP also unveiled a new software suite aimed at improving the digital supply chain and providing workers with simple tools.

Some of the prominent players and suppliers operating and contributing significantly to the global work order management systems market growth include Oracle, IBM, Microsoft, IFS, ClickSoftware, Astea Solutions AD, Infor, ServiceMax, Coresystems, and FieldAware , among others.

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Market Segmentation: Global Work Order Management Systems Market

RationalStat has segmented the global work order management systems market based on component, organization size, deployment type, industry vertical, and region

• Global Work Order Management Systems Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Component
  • Solution
  • Services
    • Professional
      • Integration and Implementation
      • Consulting
      • Support and Maintenance
      • Training and Education
    • Managed
• Global Work Order Management Systems Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Organization Size
  • Small and Medium Sized Enterprises
  • Large Enterprises
• Global Work Order Management Systems Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Deployment Type
  • On-premises
  • Cloud
• Global Work Order Management Systems Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Industry Vertical
  • Manufacturing
  • Energy and Utilities
  • Transportation and Logistics
  • Construction and Real Estate
  • Healthcare and Life Sciences
  • Banking, Financial Services, and Insurance (BFSI)
  • Telecom and IT
  • Others (Government, and Media and Entertainment)
• Global Work Order Management Systems Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
  • North America Work Order Management Systems Market
    • US
    • Canada
  • Latin America Work Order Management Systems Market
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe Work Order Management Systems Market
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe Work Order Management Systems Market
    • Russia
    • Poland
    • Hungary
    • Other CIS Countries
    • Rest of Eastern Europe
  • Asia Pacific Work Order Management Systems Market
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • ASEAN
      • Indonesia
      • Thailand
      • Philippines
      • Vietnam
      • Malaysia
      • Rest of ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa Work Order Management Systems Market
    • GCC
      • Saudi Arabia (KSA)
      • United Arab Emirates (UAE)
      • Rest of the GCC
    • South Africa
    • Nigeria
    • Turkey
    • Rest of the Middle East & Africa

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Key Questions Answered in the Work Order Management Systems Report:

• What will be the market value of the global work order management systems market by 2030?
• What is the market size of the global work order management systems market?
• What are the market drivers of the global work order management systems market?
• What are the key trends in the global work order management systems market?
• Which is the leading region in the global work order management systems market?
• What are the major companies operating in the global work order management systems market?
• What are the market shares by key segments in the global work order management systems market?

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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About RationalStat LLC

RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

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