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Technavio’s market research analysts have predicted that the global BOM (bill of materials) software market will grow steadily at a CAGR of more than 8% by 2020. This market research and analysis identifies the rise in cross-plant manufacturing activities to be one of the major factors spurring the prospects for growth in this market. Most products are manufactured in different locations and then assembled separately to bring down the total cost of manufacturing. This makes it difficult for a single vendor to manufacture products with different specifications and requirements in a single location and to supply them to different locations. By ensuring efficient data communication between different units, material management software helps in resolving issues related to quality, design changes, specifications, and manufacturing, and plays a critical role in cross-plant manufacturing activities.
The emergence of IoT (internet of things) has led to the development of smart connected devices. IoT considers hardware devices, embedded software, communication services, and IT services as a single unit and creates smart communication environments such as smart homes, smart shopping, and smart transportation. IoT uses connected devices like portable navigation devices, media players, and imaging devices with cellular connections that are developed by using bill management software and cPDM (collaborative product data management) solutions to establish a connected environment between devices.
The market appears fragmented and is characterized by the presence of several small, medium-sized and large vendors. Small vendors find it difficult to approach bigger companies who normally prefer large vendors while adopting bigger PLM (product lifecycle management) solutions. The high growth potential of this market is likely to invite more vendors to the material management software market space, which will, in turn, intensify the level of vendor competition during the forecast period.
The leading vendors in the market are -
The other prominent vendors in the market are IQMS, Omnify Software, Open Systems, Oracle, SAP, and Silicon Expert Technologies.
During 2015, the automotive industry segment accounted for more than 24% of the total market share and dominated the BOM software market. Factors such as the increasing number of car models and the recent rise in the number of hybrid, plug-in, and electric cars will continue to fuel the demand for BOM software from this market segment in the next four years.
According to this market study, North America accounted for about 38% of the total market share and dominated the BOM software market during 2015. Constantly increasing investments in R&D and the growing need for safety features in automobiles will contribute to the growth of the market in this region during the forecast period.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Life cycle analysis
PART 06: Market landscape
PART 07: Market attractiveness by end-user
PART 08: Market segmentation by end-user
PART 09: Geographical segmentation
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Impact of trends
PART 16: Vendor landscape
PART 17: Other prominent vendors
PART 18: Appendix
PART 19: Explore Technavio
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