Pune, India -- (SBWIRE) -- 03/22/2019 -- Global work order management system market is expected to grow from US$ 771.26 Mn in 2018 to US$ 1,641.15 Mn in 2027 at a CAGR of 9.2% between 2019 and 2027.

Work order management system market is experiencing growth all across the globe, with the increasing adoption of technologies in the manufacturing process as well as increasing competition across diverse industry verticals demanding for better customer services. Furthermore, the rising adoption of smart devices is another factor fueling the growth of the market.

The Work order management system Market report aims to provide a 360-degree view of the market in terms of cutting-edge technology, key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period. Further, the report also covers key players profiling with detailed SWOT analysis, financial facts and key developments of products/service from the past three years.

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Each and every end-user industry has its specific needs and challenges. Some industries highly focusses on manufacturing goods, while others focus on customer satisfaction. Irrespective of the industry, two aspects remain constant i.e. keeping operating costs under control as well as keeping best operating condition of the assets. The work order management helps diverse end-user industries to increase their productivity and reduce down-time by managing work orders on a timely manner.

Key Vendors: Astea International Inc., Infor Inc., Microsoft Corporation, IBM Corporation, Oracle, Hippo CMMS, ServiceMax, Inc., Innovapptive Inc., Coresystems AG (SAP SE), and eMaint Enterprises, LLC among others.

The global work order management system market by end-user industry is fragmented into IT & telecom, manufacturing, BFSI, healthcare, retail, transportation, and others. Work order processes are essential part of production order, material procurement, as well as logistics processes. The production as well as the maintenance performance indicators should be integrated to boost management for cooperating completely towards areas such as safety, productivity, quality, cost reduction, energy consumption, and environmental impact.

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With work order management, it is possible to plan preventive work orders with evaluation on number of hours and material required. The material then can be procured and the work can be assigned to a group or person. It is very important to integrate maintenance plan with production plan for reducing downtime owing to improper planning. Work order management system in manufacturing helps to manage work orders for production, and to track inventories required for production.

Further, work order management system market is expected to experience significant growth in the coming years due to the increasing demand of work order management system by the IT & telecom end-users. Order management is essential for telecom providers as telecom order management is an extremely complex, which generally involve lots of sub-processes including partner organizations, multiple systems, and departments. These complexities further increases when orders are highly customized and multifaceted. The market for work order management system is highly fragmented worldwide, and the industry is constantly experiencing the emergence of a new player with innovative technologies. With an objective to sustain in the industry and compete its peers, the companies are adopting several strategies which include competitive price, cloud-based technology, mergers and acquisition, and additional aftersales service.

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