Bill of Materials (BOM) Software Market: Industry Analysis, Trends, Growth, Opportunities, and Forecast to 2022-2028

The global BOM software market is anticipated to grow at a significant CAGR during the forecast period (2022-2028).

Manufacturers use BOM as their primary ERP application. It allows them to define the cost of the things they sell, as well as their composition, assembly, and sale plans. It comprises all types of BOMs and all supply chain procedures, such as product costing and customer order processing, among others. The primary factor driving the growth of the BOM Software market includes BOM automation, which decreases data administration costs and keeps designs up-to-date on their obsolescence status. Furthermore, the BOM software market is expected to benefit from the streamlining of the Electronic Design Automation (EDA) workflow.

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In terms of Application, the business logistics segment is expected to have a significant market share over the forecast period. Due to the operation of company logistics is complex, it necessitates excellent planning of product structural composition and cost, resulting in the widespread use of software in this segment.
In terms of geography, North America is expected to account for a sizable portion of the market. The early adoption of new technologies and software, as well as having strong business logistics, are the major factors driving the growth of the BOM software market in this region.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance, in October 2021, Ordoro, one of the global leaders in e-commerce logistics and operations, introduced a BOM feature that enables businesses to identify and manage the raw materials required to generate a finished product as well as manage inventory. The BOM features assists firms in identifying the major stages of production, from manufacturing and combining to building or repairing a finished product. For merchants with complex production workflows, Ordoro's BOM capability even allows multi-level BOMs.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- TGI Software, PDXpert PLM software, DELMIAWorks Manufacturing ERP, NetSuiteInc., and Fishbowl Manufacturing, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global BOM Software Market Report by Segment

By Type
• ERP Software
• CRM Software

By Application
• Chemical Industry
• Food Industry
• Business Logistics
• Electronics Industry
• Others

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This release was published on openPR.