The 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” 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. 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.
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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.
Market Players
The major vendors offering Work Order Management Systems Market 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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Robotic process automation is profoundly changing the relationship that utility field service personnel have with smart assets.Organizations around the globe integrate automation into their operations and results have been promising.
According to Capgemini Research Institute’s Intelligent Automation in Energy and Utilities survey, utility companies that have deployed intelligent automation at scale expect to save from $237 to $813 billion.Despite this, the survey also found that nearly half of utility companies have underestimated the benefits derived from intelligent automation initiatives, with only 18% deploying use cases and 17% deploying use cases at scale.Productivity levels are bound to increase with automation, and this can benefit utility workers and companies.
Through intelligent automation, utility field operators can also deal with fluctuation in wind turbine repair and maintenance processes.With Industry 5.0 closer than we think, the rise of automation signals the need for a seamlessly connected workforce to achieve desirable outcomes.Innovapptive’s enterprise asset management (EAM), field services, inventory and supply chain management solutions provide access to real-time and mission-critical data.
Through automation and mobilization, real-time data connects utility field-level workers to back-office systems to executives, creating total operational visibility.Work order management teams can leverage Innovapptive’s mobile work order management (mWorkOrder) application to achieve full visibility and collaborate effectively with field technicians.
Automation and mobilization technologies delivered by Innovapptive makes this possible.
By automating work order process, technicians get full access to work order scope to review histories and study critical asset information for speedy repair and effective maintenance work.There’s no question about automation whether or not it be instrumental for the success of the utilities of the future, but instead just about how much.
Businesses require an efficient and flexible order management software that enables them to meet modern buyer expectations and increase customer retention.
An efficient order management system tracks orders from inception to delivery manages orders and data as it moves through its life cycle.
Let’s explore how an order management system simplifies e-commerce operations.At Oodles, we provide supply chain software development services to enhance delivery capacity, improve process transparency, reduce vehicle downtime and automate procurement management.
Our custom supply chain solutions enable businesses to streamline supply chain and warehouse management processes.Key Features of an Order Management SystemInventory Management:Order Management system (OMS) is a critical component for e-commerce businesses.
It enables business managers to provide better service to their customers.
Using an efficient OMS enables businesses to stay updated about the products available in the inventory.
