The bill of material (BOM) software market size is expected to see strong growth in the next few years. It will grow to $11.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to supply chain resilience, sustainability and circular economy, remote work and collaboration, emerging technologies and data-driven decision making. Major trends in the forecast period include integration with IoT and industry 4.0, AI and machine learning, enhanced collaboration features, customization and configurability, and user experience (UX) design.
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Scope Of Bill of Material (BOM) Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Bill of Material (BOM) Software Market Overview
Market Drivers –
The increasing demand for remote collaboration is expected to propel the growth of the bill of material (BOM) software market going forward. Remote collaboration refers to the process of working together on projects, tasks, or activities with individuals or teams located in different physical locations. Remote collaboration is on the rise due to various factors, including the shift towards remote work, advancements in technology enabling virtual collaboration, the desire for flexibility in work arrangements. BOM software enables real-time updates to the bill of materials, ensuring that all team members, regardless of their time zones and schedules, have access to the most current information and can track changes as they happen. For instance, in June 2023, according to a report published by Upwork Global Inc., a US-based freelancing platform, an estimated 32.6 million Americans will be working remotely by 2025, which equates to about 22% of the workforce, and an 87% increase from pre-pandemic levels. Therefore, the increasing demand for remote collaboration is driving the growth of the bill of material (BOM) software market.
Market Trends –
Major companies operating in the Bill of Materials (BOM) software market are developing innovative solutions, such as Software Bill of Materials (SBOM), to enhance visibility and combat supply-chain threats. SBOM are software tools or systems that provide real-time visibility into complex software environments, enabling organizations to make better-informed decisions about their software supply chain risks. For instance, in November 2022, Tanium, a US-based system software company, launched the Tanium Software Bill of Materials (SBOM) to streamline the management and tracking of components and materials required for product manufacturing or assembly. This innovative technology enables organizations to proactively address security vulnerabilities and enhance risk management. It is the first and only solution that provides IT and security professionals with granular visibility and real-time remediation of software packages for every application on every endpoint at runtime.
The bill of material (BOM) software market covered in this report is segmented –
1) By Type: Engineering BOM, Manufacturing BOM, Service BOM
2) By Deployment: On-Premise, Cloud-Based
3) By Organization Size: Small and Medium Enterprises (SMEs), Large Enterprises
4) By Application: Automotive, Aerospace and Defense, Electrical and Electronics, Medical Devices, Industrial Machinery, Consumer Goods
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Regional Insights –
North America was the largest region in the bill of material (BOM) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bill of material (BOM) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the bill of material (BOM) software market are Siemens AG, Oracle Corporation, SAP SE, Fujitsu Ltd., Dassault Systèmes SE, Autodesk Inc., Cadence Design Systems Inc., Infor Inc., Lectra SA, Altium Limited, Zuken Inc., Silicon Expert, Tacton Systems AB, Fast React Systems Ltd., Arena Solutions Inc., HTS Inc., Aras Corporation, SofTech Group Inc., Xavor Corporation, Timesys Corporation, FlexSim Software Products Inc., Omnify Software Inc., Onshape Inc.
Table of Contents
1. Executive Summary
2. Bill of Material (BOM) Software Market Report Structure
3. Bill of Material (BOM) Software Market Trends And Strategies
4. Bill of Material (BOM) Software Market – Macro Economic Scenario
5. Bill of Material (BOM) Software Market Size And Growth
…..
27. Bill of Material (BOM) Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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