CHICAGO, October 10, 2018 /PRNewswire/ --
According to a new market research report "Work Order Management Systems Market by Solution, Service (Managed and Professional (Integration & Implementation, Consulting, Support & Maintenance)), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Work Order Management Systems Market is expected to grow from USD 414.1 million in 2018 to USD 694.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period (2018-2023).
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The increasing need among enterprises to centrally manage and track work orders and growing necessity to enhance the efficiency of teams are expected to have led to the largescale adoption of work order management systems. Due to the increasing adoption of cloud-based work order management systems among Small and Medium-sized Enterprises (SMEs), the Work Order Management Systems Market is expected to gain traction during the forecast period
Browse in-depth TOC on "Work Order Management Systems Market"
67 - Tables
39 - Figures
146 - Pages
The services segment to grow at a higher CAGR during the forecast period
The services segment is expected to gain more traction during the forecast period. Services are mostly post-sales services that are delivered to customers after the purchase of a product. These services include designing, planning, upgrading, and a host of other consulting services, which are offered to clients. The services team offers comprehensive services through the latest techniques and tools, skills, knowledge, and strategies to address organizations' work order management needs. Companies offering these services comprise consultants, solution experts, and dedicated project management teams, which specialize in designing and delivering robust work order management solution and services.
The manufacturing industry vertical to hold the largest market size during the forecast period
The manufacturing industry vertical is expected to dominate the Work Order Management Systems Market during the forecast period. To remain competitive and sustain growth, manufacturing enterprises are focusing on making their business operations efficient by leveraging the benefits of the latest advancements in the work order management technology. Work order management systems enable manufacturing organizations to make their business operations robust, efficient, and error-free. They provide organizations with several capabilities, such as product installation, preventive maintenance, work order automation, field asset management, job scheduling, real-time collaboration with field workers using mobile devices, status update, and billing and tracking management.
North America to hold the largest market size during the forecast period
North America is expected to hold the largest market size during the forecast period, as the region is extremely responsive toward the adoption of the latest technological advancements. A robust work order management system helps in flexible planning and successful execution of tasks and work orders. Enterprises aim at promoting collaborations among teams and improving workforce utilization. There is a growing need among enterprises to centrally manage and track work orders. This growing need is driving the adoption of work order management systems in the region.
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The major vendors offering work order management systems across the globe include NetSuite (US), IBM (US), Microsoft (US), IFS (Sweden), ClickSoftware (US), Astea (US), Infor (US), ServiceMax (US), Coresystems (Switzerland), FieldAware(US), ServiceNow(US), ServicePower(US), Corrigo(US), eMaint(US), Innovapptive (US), Fingent (US), ServiceChannel(US), FieldEZ(India), 3Floorsup(Australia), Hippo CMMS(Canada), Fieldpoint Service Applications(Canada), Sockeye Technologies(Canada), Maintenance Connection(US), MEX(Australia), and Loc8 (Australia).
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