Spare Parts Management (SPM) Companies

The spare parts management market is projected to rise from USD 1,021.3 million in 2025 to USD 1,820.2 million by 2030, at a CAGR of 12.3% during the forecast period. The market is experiencing accelerated transformation driven by three core dynamics. Escalating unplanned downtime asset-hour costs are compelling asset-intensive industries to strengthen parts availability, improve stocking accuracy, and deploy responsive replenishment models that minimize operational disruption. Organizations are prioritizing platforms that provide real-time visibility into parts location, movement, and consumption patterns to prevent service delays and protect asset productivity. AI-enabled demand forecasting is enhancing fill-rate precision by interpreting variables such as asset health indicators, usage intensity, seasonal service behavior, and repair histories, which improves planning accuracy and reduces inventory imbalance. At the same time, the expanding role of the aftermarket as a strategic profit center is driving manufacturers and service providers to modernize planning, pricing, and fulfillment workflows to increase margin capture across service lifecycles. This includes tighter integration of returns, repairs, refurbishments, and warranty operations within unified digital environments. Together, these forces are redefining how enterprises design and manage spare parts ecosystems, enabling higher service reliability, stronger asset uptime, and improved financial performance in increasingly complex operational landscapes.

Some of the major players in the spare parts management market include Syncron (Sweden), Baxter Planning (US), IFS (Sweden), Fiix (Canada), and PTC (US). These companies deploy and support advanced spare parts management solutions to strengthen service continuity, improve inventory accuracy, and optimize operational performance. By integrating predictive demand planning, real-time parts visibility, and intelligent fulfillment workflows, these platforms reduce stockouts, limit excess inventory, and accelerate service response. Through enhanced lifecycle tracking and streamlined repair-return processes, modern spare parts systems enable enterprises to minimize downtime costs, maintain high asset availability, and improve the profitability of aftermarket operations in complex, asset-dependent environments.

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In July 2025, Syncron partnered with Trillium Digital Services to strengthen its aftermarket and spare parts management capabilities. The collaboration focuses on integrating AI-driven advisory, implementation, and supply chain optimization services to help OEMs enhance spare parts planning, improve asset utilization, and achieve greater operational efficiency and uptime across complex global service networks.

In June 2025, PwC collaborated with Oracle to enhance spare parts management within field-service operations by integrating automated parts tracking, warranty-linked replenishment, and predictive repair workflows. The collaboration focused on optimizing spare parts availability, minimizing excess and obsolete inventory, and ensuring accurate allocation of parts for repair and warranty processes through Oracle’s connected service and inventory platforms.

SYNCRON

Syncron is strengthening its role in the spare parts management market through strategies that focus on improving service profitability, enhancing inventory precision, and modernizing aftermarket operations for global manufacturers. Its core competencies include AI-enabled multi-echelon inventory planning, intelligent service parts pricing, integrated warranty and service lifecycle management, and advanced dealer network collaboration capabilities that support higher fill rates and improved service responsiveness. In July 2025, Syncron entered into a strategic partnership with Trillium Digital Services to expand advisory, implementation, and integration support for OEM aftermarket programs, reinforcing its delivery ecosystem and solution depth. The company also continues to enhance its platform through product upgrades that unify planning, pricing, and service execution. Syncron follows a horizontal integration approach by extending its cloud-based SLM suite across interconnected aftermarket functions while enabling tighter operational alignment between inventory, pricing, warranty, and service workflows. This combined strategy supports stronger uptime performance and margin growth for asset-intensive enterprises.

BAXTER PLANNING

Baxter Planning is strengthening its position in the spare parts management market through strategies focused on improving service supply chain reliability, reducing inventory exposure, and supporting profitable aftermarket operations. Its platform strategy is built around BaxterPredict, which unifies demand forecasting, multi-echelon inventory optimization, and real-time service parts execution to ensure high service levels with controlled inventory investment. The company’s core competencies include predictive analytics, automated stocking policies, exception-driven planning, and workflow orchestration that aligns planners, service teams, and logistics functions. Baxter Planning has expanded its ecosystem through integrations with field service and asset management platforms such as ServiceMax, enabling tighter synchronization between service events and parts availability. The firm follows a horizontal integration approach by connecting planning, execution, and performance management across the entire service parts lifecycle. This unified architecture allows manufacturers and service organizations to achieve greater fill-rate precision, faster response times, and improved operational efficiency in complex global service networks.

Market Ranking

In 2025, the spare parts management market remained highly fragmented, with the top five companies, Syncron, Baxter Planning, IFS, PTC, and Fiix, together accounting for approximately 20–25% of the total market share. Syncron expanded its aftermarket capabilities in May 2025 with the launch of its Next Gen Partner Network, which strengthened global delivery capacity for service parts planning and pricing optimization. The company also strengthened its industry presence in July 2025 through a partnership with Trillium Digital Services, which enhanced implementation and advisory support for OEMs. Baxter Planning advanced its position in October 2025 when it was recognized as a Leader in the IDC MarketScape for AI-Enabled Service Parts Management, reflecting strong adoption of its BaxterPredict platform. IFS introduced new spare parts planning and inventory optimization features in May 2025 through the release of IFS Cloud 25R1, expanding its industrial AI capabilities for service organizations. PTC strengthened parts availability management in September 2025 by rolling out AI-driven enhancements within Servigistics to improve forecasting precision and fulfillment responsiveness. Fiix continued to expand its service parts capabilities through updates in 2024 and early 2025, which improved planning analytics and maintenance-linked inventory control. Together, these advancements show how vendors are repositioning spare parts management as a strategic enabler of service-led growth. The market’s fragmented structure continues to accelerate innovation as each provider targets distinct operational challenges across global service networks. As digital intelligence becomes increasingly central to aftermarket operations, enterprises are adopting platforms that enhance uptime, strengthen profitability, and improve the customer experience. This momentum is redefining spare parts management as a core pillar of modern industrial performance

Related Reports:

Spare Parts Management (SPM) Market by Solutions (Spare Part Tracking & Automation, Inventory Management, Procurement & Order Management, Reporting & Analytics, Planning & Forecasting), Spare Part Management Services, Type - Global Forecast to 2030

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