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“Bill of Materials” is a very important term used in the manufacturing industry. Bill of Materials is a complete list of raw materials that are required to manufacture a product. Bill of Materials software is used by manufacturers to keep a track of and manage inventories, catalogs, purchase orders in all stages of the manufacturing and supply chain. It is an important tool for real-time collaboration and data management. BOM outlines the minutest of details in the production of an item such as specific screws used in a production process or the glue used to stick a label. None of the details either big or small is left out in each of the important phases of the project whether it is conceptualizing, designing, or manufacturing.
“The BOM Software industry stood at $5,532 million in 2022 and the demand is expected to grow at a CAGR of around 5% during the forecast period (till 2030).”
The research report titled “BOM Software Market, Business and Opportunity Analysis” published by Datavagyanik presents a detailed analysis of the BOM Software market with country-wise market statistics, qualitative insights, and market player analysis. One of the prime objectives of the report is to provide an assessment of the market potential, market revenue, growth, and business opportunities for the BOM Software Market in each country.
Large enterprises have been growing at a steady pace for the last few decades and we expect them to maintain uniform growth in the near future. Large enterprises are highly organized and already deploy BOM software at a large scale to streamline their process, identify a critical element in their process flow and manage proper inventory. It helps them create a robust vendor management system. Deployment of BOM helps them innovate and make their product better with time. It also helps them make optimum use of waste materials to create new products as it gives a head start to their R&D division to capitalize on the materials (byproducts) and create a cost-effective product in the future. Although Covid19 disrupted the supply chain, it presented a unique situation to the cash surplus businesses across the world. For example, the Pharmaceutical sector was heavily affected by the disruption of the supply of key ingredients as most of the raw materials needed were imported from China. However, Sanofi (a leading pharmaceutical product manufacturer) took this as an opportunity to identify critical key ingredients and established a giant company “EUROAPI” to manufacture active pharmaceutical ingredients (API). Thus, BOM helps businesses not only identify the critical elements in their production line but also explore new opportunities. We estimate the BOM Software market for large enterprises to be at $4.1 billion in 2022 and expect it to reach $5.1 billion by 2027.
Small and medium enterprise has been growing rapidly throughout the world. SME’s in India is growing at an average CAGR of 10% while that in the US is growing at a CAGR of 7%. With every passing year, SME’s are gaining market share. However, they are highly irregulated. This not only hurts their operating efficiency but also their project completion timeline. BOM software can optimize their production process by keeping track of the inventory of critical elements. It can help them realize the components that are actually adding extra pressure to their product costing and help them look for alternatives. It helps the management optimize the process flow and make calculative decisions to further enhance their productivity. It enables management to make use of waste materials from the main product and think of innovative solutions to make use of these scraps to create cost-effective by-products. In 2022, We estimate the BOM Software market for SMEs to stand at $1.45 billion and grow at a CAGR of xx% during the forecast.
North America BOM Software Market size is expected to be $2300 million in 2027 and is expected to grow at a CAGR of 4.3% till 2030. US & Canada will drive most of the revenue in the region. North America has a huge chunk of the global market.
The BOM Software market in the United States is expected to be valued at $1463 million by 2022 and register a CAGR of xx% till 2030.
Europe BOM Software Market size is expected to be 1940 million in 2025 and is expected to grow at a CAGR of xx% till 2030. France, U.K, Italy & Germany are the most prominent markets in the region.
The BOM Software market in Germany is expected to be valued at $413million by 2021 and register a CAGR of xx% till 2030.
The BOM Software market in France is expected to be valued at $273 million by 2023 and register a CAGR of xx% till 2030.
Asia Pacific BOM Software Market size stood at $1333 million in 2020 and is expected to grow at a CAGR of xx% till 2030. China & Japan are major markets in the region. Although Asia-Pacific is referred to as a manufacturer for the world and presents a fertile soil for manufacturers to bud due to low labor cost, cheap raw materials availability, etc., a large percentage of businesses are still unorganized. Though with the growth of manufacturing orders and flow of capital to these businesses, things are changing rapidly as more and more businesses in this region are looking to streamline their production process and have a robust inventory management system. They have started realizing the potential of organizing their processes. APAC BOM software market is expected to be $2 billion by 2027. Growing anti-China Sentiments and the Indian Government push on infrastructure spending and providing Production linked incentives to manufacturers under the “Make In India” program are some of the geopolitical Variables in the region that may fuel the deployment of the BOM Software in the Indian market. Formation of QUAD group comprising of USA, Japan, Australia & India to counter China can also negatively impact China BOM Software Market in long run. Japan has already started offering incentives to Japanese companies to shift their manufacturing facilities from China to Japan. A deadlock between China & Australia and growing tensions in the South China Sea, Rising labor costs in China can have a limiting effect on the growth of manufacturing in China. The regional APAC BOM market may change a lot till 2030 considering the current Geopolitical tensions. However, the overall APAC market trend will remain stable looking forward.
Middle East BOM Software Market Size is estimated to be USD xx billion in 2022 and is expected to grow at a CAGR till 2030.
The BOM Software market in Saudi Arabia is expected to be valued at $xx million in 2022 and register a CAGR of xx% till 2030. This report provides an overview of the BOM Software industry in Saudi Arabia, including highlights of key trends over the forecast period and recent developments related to BOM Software Industry.
The BOM Software market has been split into segments namely Food, Beverage & Personal Care, Electronics & Electrical, Automotive & Transportation, Equipment & Machinery Manufacturing, Construction and Allied Industries, Pharmaceutical Manufacturing, Chemical and Allied Industries and others.
Businesses particularly SME’s are supposed to drive the growth of the BOM software market. However, in recent years, it has been observed that businesses are preferring asset-light solutions for their process optimization and focus mainly on their key products. Cloud-based BOM Software is becoming the obvious choice of businesses as it helps them optimize their process flow without having to worry about the infrastructure and maintenance of on-premise BOM Software.
The report analyzes BOM Software market from demand as well as supply side. In supply side analysis, we reach out to the BOM Software market players to collect information on their portfolio, revenue, target customers and other insights. During this process, paid interviews and surveys are conducted for obtaining and validating the data pointers. We also deep dive into the available paid industry databases, research studies, white papers and annual reports.
As a part of our demand side analysis, we reach out to the end users of BOM Software, to gauge the application areas, demand trends and similar insights.
This business analysis report on the BOM Software market presents a regional as well as country level analysis. The regions covered in the report are – North America, Europe, Asia Pacific and Rest of the World. In these four regions, all the countries have been covered in detail with information on BOM Software market size, trends and forecast.
The report covers BOM Software market revenue and forecast for the period (2019 – 2027), by regions, (further split into countries):
*Note – BOM Software Market Country-level break-down has been covered in the report
There is an entire data collection and validation framework that Datavagyanik follows to provide you with authentic information. We connect to industry experts across various countries to understand market trends and demand pattern. The same is done through paid interviews and surveys.
Our internal team of analysts are experts in studying market pattern, mining data and extracting useful information from different paid as well as freely available sources. Datavagyanik has exhaustive internal data base with information on markets, market players and other macro and micro economic indicators that impact industries.
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