Work Order Management Systems Market To Witness Exponential Growth By 2018 - 2026
A work order management system is a solution that enables organizations to effectively manage and track all ongoing and pending tasks on a single dashboard. It helps them create work orders; track the work completion rate; update requests; leave feedback on the work performed; and monitor real-time status updates. Instead of employees handling order requests manually, work order management systems can automatically submit and create the forms required.
The global work order management systems market can be segmented based on component, organization size, end-use industry, and region. In terms of component, the market has been segmented into software and services. The software segment is estimated to hold a major market share during the forecast period. The segment has been sub-divided into on-premise and cloud-based. The cloud-based sub-segment has been further classified into public cloud, private cloud, and hybrid cloud. The services segment has been sub-classified into professional services and managed services. The professional services sub-segment has been further segmented into integration & implementation, consulting, and maintenance & operations.
In terms of organization size, the work order management systems market has been segregated into small & medium enterprises (SMEs) and large enterprises. The large enterprises segment is estimated to hold a major share of the market during the forecast period. Large enterprises face issues mostly regarding keeping a track of ongoing work processes, thereby creating an opportunity for providers of work order management systems. Based on end-use industry, the global work order management systems market has been segmented into health care, banking, financial services and insurance (BFSI), chemical, IT & telecom, retail, manufacturing, government & defense, automotive, transportation, and others.
In terms of region, the global work order management systems market can be classified into North America, Europe, Middle East & Africa, Asia Pacific, and South America. Presently, North America dominates the global market, in terms of its revenue, followed by Europe. North America is estimated to hold the largest share of the global work order management systems market during the forecast period as well.
This can be attributed to the fact that companies in the region are investing significantly in improving their work processes for effective work order management thus supporting the growth of the market. Asia Pacific is also expected to offer lucrative growth opportunities to key players operating in the global work order management systems market in the next few years, due to significant increase in industrialization in the region. South Korea, Japan, India, Malaysia, Singapore, Thailand, Australia, China, and Singapore are major countries in the region. Growth of the work order management systems market in Middle East & Africa and South America can be attributed to the increasing number of enterprises in these regions.
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Players operating in the work order management systems market are primarily focused on expanding their footprint worldwide and diversifying their product portfolio. Companies are primarily focused on expanding their customer base by collaborating with local distributors so as to create their presence in untapped markets. Expansion of service offerings and operations enables providers of work order management systems to avail opportunity to generate revenues from new business streams. Vendors operating in the global work order management systems market largely provide a flexible pricing model to their customers.
The work order management systems market is undergoing the nascent stage, as companies in the market are developing innovative technologies and investing significantly in R&D activities. Key players operating in the global work order management systems market include ClickSoftware Technologies, International Business Machines Corporation (IBM), Microsoft Corporation, NetSuite Inc., Astea International, Inc., Coresystems AG, Corrigo, Fieldpoint Service Application, Sockeye Technologies, Infor, Innovapptive, Innovapptive, Hippo CMMS, and ServiceChannel, Inc.
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