Work Order Management Systems Market

Microsoft and IFS are the Leading Players in the Work Order Management Systems Market

MarketsandMarkets forecasts the global work order management systems market size to grow from USD 414.1 million in 2018 to USD 694.6 million by 2023, at a CAGR of 10.9% during the forecast period. The increasing adoption of mobile apps and wearable devices among field workers is expected to drive the market growth.

The growing technology landscape and expansion of businesses across industry verticals, such as manufacturing, energy and utilities, Banking, Financial Services, and Insurance (BFSI), telecom and Information Technology (IT), retail and consumer goods, healthcare, government, construction and real estate, transportation and logistics, and media and entertainment, are expected to be the major contributors to the growth of the work order management systems market. A work order management system monitors and keeps track of ongoing tasks and work orders, and enterprises are using the work order management solution to access a centralized platform for managing work orders, assigning tasks and resources, and reporting, which help in the timely completion of projects. A robust work order management system helps enterprises save time as well as cost.

The major vendors offering work order management systems 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).These vendors have adopted organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their offerings and mark their presence in the work order management systems market.

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Microsoft has constantly been focusing on enhancing its work order management portfolio. It offers the work order management solution under its Microsoft Dynamic 365 product line. Its tools help in optimizing service schedule with efficient routing, resource skill matching, and reduced travel time, thus increasing first-time fix rates and on-time delivery performance, and enhancing real-time communication and collaboration between customer service, dispatch, field agents, and customers. Microsoft partners with various software vendors around the globe to create a connected digital ecosystem. For instance, in June 2018, Microsoft partnered with PTC to integrate PTC’s ThingWorx with Dynamics 365 Field Service. The integration helped in improving first-time fix rates by providing field technicians with critical information from IoT sources.

IFS is another leading vendor in the work order management systems market. It adopts organic and inorganic growth strategies for its business growth. It constantly upgrades its product line to provide the best services and solutions to its clientele. For instance, in May 2018, IFS Applications 10 was upgraded with a new User Experience (UX) and more than 500 functional updates, which included features such as AI chatbot and enhanced service-centric capabilities. The company has acquired SMEs and start-ups and incorporated their solutions into IFS’ product portfolio. In March 2018, IFS acquired Cube Six for strengthening its capabilities in the areas of paperless work order management.

Related Reports:

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

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Report Code
TC 6672
RI Published ON
10/10/2018
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