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How has the bill of material (bom) software market grown in recent years?

The market size for the bill of material (BOM) software has seen significant growth in recent times. The projection for growth is from $9.1 billion in 2024, increasing to $9.72 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. The expansion during the historical period is due to factors such as manufacturing and product complexity, efficiency enhancement, cost cutting measures, customer expectations and intense market competition.

How is the bill of material (bom) software market size expected to evolve during the forecast period?

The market size of the bill of material (BOM) software is anticipated to witness notable expansion in the upcoming years, with a projected valuation of $12.47 billion in 2029 and a compound annual growth rate (CAGR) of 6.4%. The predicted growth during this period can be traced back to factors such as resilience in supply chain, sustainability and circular economy practices, the advent of remote work and collaborative efforts, data-informed decision-making, and budding protocols. Key trends estimated to rise during the forecast period include IoT and Industry 4.0 integration, artifical intelligence and machine learning applications, improved collaboration characteristics, customization and configurability, and user experience (UX) design.

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Which key drivers are propelling the bill of material (bom) software market’s growth?

The bill of material (BOM) software market is poised for growth due to the escalating need for remote collaboration. The concept of remote collaboration involves the joint execution of projects, tasks, or activities by individuals or teams dispersed across various geographical locations. The upsurge in remote collaboration can be attributed to several factors including the trend towards remote employment, technological advances facilitating virtual teamwork, as well as the growing preference for flexible work setups. BOM software affords real-time updates to the bill of materials, thus making the latest information accessible to all team members irrespective of their individual time-zones or schedules, and changes can be observed as they occur. For example, a report issued by Upwork Global Inc., an American freelancing platform, in June 2023 estimated that roughly 32.6 million Americans, equating to about 22% of the workforce, will be teleworking by 2025. This signifies an 87% increase from the levels seen before the pandemic. Therefore, the mounting need for remote collaboration serves as a catalyst for the expansion of the bill of material (BOM) software market.

What are the market segments in the bill of material (bom) software industry?

The bill of material (BOM) software market covered in this report is segmented –

1) By Type: Engineering BOM, Manufacturing BOM, Service BOM

2) By Deployment: On-Premise, Cloud-Based

3) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises

4) By Application: Automotive, Aerospace And Defense, Electrical And Electronics, Medical Devices, Industrial Machinery, Consumer Goods

Subsegments:

1) By Engineering BOM, Design BOM, Product Structure BOM, Prototype BOM

2) By Manufacturing BOM, Assembly BOM, Process BOM, Material BOM

3) By Service BOM: Maintenance BOM: Spare Parts BOM, After market BOM

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Which leading companies are shaping the growth of the bill of material (bom) software market?

Major companies operating in the bill of material (BOM) software market are Siemens AG, Oracle Corporation, SAP SE, Fujitsu Ltd., Dassault Systèmes SE, Autodesk Inc., Cadence Design Systems Inc., Infor Inc., Lectra SA, Altium Limited, Zuken Inc., Silicon Expert, Tacton Systems AB, Fast React Systems Ltd., Arena Solutions Inc., HTS Inc., Aras Corporation, SofTech Group Inc., Xavor Corporation, Timesys Corporation, FlexSim Software Products Inc., Omnify Software Inc., Onshape Inc.

What key trends are currently impacting the bill of material (bom) software market’s development?

Leading firms in the bill of materials (BOM) software market are pioneering new strategies like software bill of materials (SBOM) to augment visibility and counter supply-chain risks. SBOM constitutes software systems or tools that facilitate real-time transparency into intricate software environments, equipping corporations with the information needed for more insightful decisions regarding their software supply chain vulnerabilities. For example, Tanium, a system software corporation based in the United States, introduced the Tanium Software Bill of Materials (SBOM) in November 2022 to simplify the supervision and tracking of components and materials needed for the manufacturing or assembly of products. This advanced technology equips companies with the tools to proactively counter security weaknesses and boost risk management. It is the premiere and unique solution offering IT and security experts in-depth visibility and instantaneous remediation of software packages for each application on every endpoint during runtime.

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Which geographic areas are influencing the growth of the bill of material (bom) software market?

North America was the largest region in the bill of material (BOM) software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bill of material (BOM) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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