Bill of material (BOM) management market - By Type (Engineering BOM, Manufacturing BOM, Service BOM, etc.), By Application (Manufacturing, Construction, Aerospace & Defense, Automotive, Healthcare etc.), By Industry (Large Enterprises, Small & Medium Enterprises), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030.

The Global Bill of material (BOM) management market is expected to grow from USD XX billion in 2023 to USD XX billion by 2030, at a CAGR of XX% during the forecast period (2023-2030). The growth of the market is driven by the increasing demand for BOM management software from manufacturers in various industries, such as the automotive, aerospace, and electronics industries. BOM management software is used to create and manage bills of materials (BOMs). A BOM is a list of all the components and materials required to manufacture a product. BOM management software can help manufacturers to create accurate and up-to-date BOMs, which can help to improve efficiency and reduce costs.

BOM management is the process of capturing, configuring, and managing all product data that is developed throughout the lifecycle of a product. This data includes the list of components that make up a product, the instructions on how to assemble the product, and the product's specifications. BOM management is essential for manufacturers to ensure that they have the right parts in the right quantities at the right time, to track the cost of products, and to comply with regulations. The increasing complexity of products is one of the key drivers of the BOM management market. As products become more complex, it becomes more difficult to manage the bill of materials manually. BOM management software can help manufacturers to automate the BOM management process, which can save time and money.

The need to improve efficiency and traceability in the manufacturing process is another driver of the BOM management market. BOM management software can help manufacturers to improve efficiency by streamlining the BOM management process and by providing real-time visibility into the BOM. BOM management software can also help manufacturers to improve traceability by providing a complete audit trail of the BOM. The growing adoption of cloud-based BOM management solutions is also a key trend in the market. Cloud-based BOM management solutions offer several advantages over on-premises solutions, including scalability, flexibility, and cost-effectiveness. Cloud-based BOM management solutions are also easier to deploy and manage than on-premises solutions.

Market Snapshot:

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The “Bill of material (BOM) management market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Biochar Market.

The rise of cloud-based BOM management software: Cloud-based BOM management software is becoming increasingly popular, as it offers a number of advantages over traditional on-premises solutions. Cloud-based solutions are more scalable and easier to manage, and they can be accessed from anywhere with an internet connection. This makes them a good fit for manufacturers with global operations or those that need to be able to quickly adapt to changing market conditions.

The increasing use of artificial intelligence (AI) and machine learning (ML): AI and ML are being used to automate a variety of tasks in BOM management, such as identifying duplicate parts, detecting errors, and recommending alternatives. This is freeing up engineers and other BOM managers to focus on more strategic tasks.

The growing demand for traceability and compliance: Manufacturers are under increasing pressure to ensure that their products are safe and compliant with regulations. BOM management software can help manufacturers track the provenance of their products and ensure that they are meeting all applicable regulations.

The need for real-time data: BOM management software needs to be able to provide real-time data to manufacturers. This is important for making quick decisions about production, inventory, and procurement.

The increasing adoption of open standards: Open standards are becoming increasingly important in BOM management. This is because they allow manufacturers to exchange data with other businesses and systems more easily.

Oracle: Oracle is a global leader in enterprise software. Its BOM management software, Oracle Fusion BOM, is a comprehensive solution that helps manufacturers manage their BOMs across the product lifecycle.

SAP: SAP is another global leader in enterprise software. Its BOM management software, SAP BOM (Bill of Material), is a flexible solution that can be customized to meet the specific needs of manufacturers.

Dassault Systems: Dassault Systems is a French multinational software company that specializes in 3D design software. Its BOM management software, 3DEXPERIENCE BOM, is a cloud-based solution that helps manufacturers collaborate on BOMs in real time.

Arena Solutions: Arena Solutions is a US-based software company that specializes in BOM management software. Its Arena BOM is a cloud-based solution that helps manufacturers manage their BOMs across the product lifecycle.

Spartan Software: Spartan Software is a US-based software company that specializes in BOM management software. Its Spartan BOM is an on-premises solution that helps manufacturers manage their BOMs across the product lifecycle.

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies players in the Bill of material (BOM) management market adopt. The top 10 companies in Bill of material (BOM) management market are listed below:

1. Oracle.

2. SAP.

3. Dassault Systèmes.

4. Arena Solutions.

5. Spartan Software. 

6. IQMS.

7. Emadata.

8. Upchain.

9. Infor.

10. Epicor.