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Work Order Management System Global Market Report 2022: Increasing Importance of Data-Driven Planning & Budgeting Fuels Growth

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Dublin, March 16, 2023 (GLOBE NEWSWIRE) — The “Work Order Management System Market Size, Share, Trends, By Deployment Type, By Application, By End-User, and By Region Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.

The market size of the global work order management system is projected to reach USD 1949.6 Million by 2030, with a revenue CAGR of 7.1% during the forecast period.

One of the key drivers for the growth of the market is the increasing importance of data-driven planning and budgeting. The demand for easier allocation of work orders for better project execution is another significant factor contributing to market revenue growth. Work order management systems are capable of collecting and analyzing data, as well as tracking the performance of previous work orders. This data can be used by management teams to make informed decisions, plan resources, and budget for the future.

These systems can also be used for preventive maintenance to avoid unexpected breakdowns and replacements, while scheduling is automated based on previously recorded work orders. Work order management is also a useful tool for organizing and formulating work orders and service requirements, and for improving the operation and functionality of various businesses.

The rapid adoption of Internet of Things (IoT) and Artificial Intelligence (AI), as well as increased implementation of wearable devices, are other significant factors driving revenue growth in the market.

Furthermore, there are numerous advantages to implementing work order management systems, such as improving service order processing efficiency, reducing turnaround time, and allowing organizations to respond to customer inquiries immediately. In addition, as the world becomes increasingly digitalized, there is a rising demand for online management systems. Companies need to make their processes more efficient, hence the availability of a variety of systems in the market that automate portions of the process.

Market Dynamics

Driver: Efficiency in management and productivity for maintenance workers

One of the drivers for the work order management system market is the need for increased efficiency in management and productivity for maintenance workers. By reducing manual labor and eliminating surveillance, these systems increase efficiency, enabling facility managers to track all work and equipment statuses in real-time, prioritize work orders effectively, and take a preventive approach to maintenance. Managers are notified automatically of service requests, status changes, and emergencies, allowing them to respond quickly in these situations. Additionally, this system promotes effective communication among facility managers, maintenance personnel, and end users. Online work order systems provide maintenance workers with real-time visibility of work orders and status updates, allowing them to view them on any device at the job site, begin work immediately, and report work details efficiently on a mobile device when they are finished.

Restraint: Lack of real-time visibility and outdated processes coincide with higher maintenance and management costs

However, there is a restraint to this market – the lack of real-time visibility and outdated processes, which can coincide with higher maintenance and management costs. Real-time asset visibility and energy insights are critical to the success of work order management. Reactive maintenance may be required even for preventive maintenance if requirements exceed the capabilities of in-house staff. Failing to recognize such activities as a part of preventive maintenance can lead to future assumptions about reactive maintenance reductions and problems.

Obsolete processes, including those that use legacy terminal-based systems, pose additional risks to maintenance and management. In today’s world, any data stored on a device could be used to launch a cyber-attack. Cloud-based systems mitigate this risk by using cutting-edge cybersecurity software and being frequently billed via Software-as-a-Service (SaaS) payment models. This allows managers to reap the benefits of work order management without incurring the high costs of implementing a system in-house.

Insights into Deployment Type:

The global work order management system market is divided into two segments based on deployment type, on-premise and cloud. The cloud segment is leading with the highest revenue share in 2021. The growth of the e-commerce industry and the increasing demand for logistics industry applications that simplify end-operations are the main drivers of revenue growth in this segment. A cloud-based work order management system helps industry professionals in various ways, such as simplifying packaging, tracking packages after shipment, integrating payment accounts for online payments, and generating insightful reports through Artificial Intelligence (AI) and other advanced capabilities. Market companies are heavily investing in Research & Development (R&D) activities to make work order management systems more secure and efficient.

Insights into Application:

The global work order management system market is segmented into preventive maintenance, inspection, and others based on application. The preventive maintenance segment has the highest revenue share in 2021.

The growth of industrial operation activities and increasing demand for software that aids in asset maintenance are the key drivers of revenue growth in this segment. Work order management systems are in high demand due to activities such as task assignments and others. They also offer manual features that allow a work order manager to complete backend fulfillment work required to complete the work order. Sharing work order data on a centralized platform with other business analytics provides access to advanced and accurate metrics, making it easier to visualize data and see how the business is performing against Key Performance Indicators (KPIs).

Insights into End-User:

The global work order management system market is segmented into manufacturing, healthcare and life sciences, transportation and logistics, consumer goods and retail, and others based on end-user. The manufacturing segment has a significant revenue share in 2021.

Significant investments in product research & development activities and continuous improvements in product capabilities are the main drivers of revenue growth in this segment. The manufacturing industry prefers cloud-based software due to scalability, affordability, and routine updates, which help in improving manufacturing processes, linking production processes to financial reports, inventory, and outstanding orders, allowing real-time monitoring of the effects of manufacturing processes across the organization. Inventory management, asset cataloging, and other factors also play a significant role in driving demand for work order management systems.

Regional Insights

Regional analysis shows that in 2021, the North America market had the largest revenue share due to the availability of skilled professionals and significant infrastructure investments, with increasing end-user awareness of the benefits of work order management systems also driving revenue growth. The U.S. market accounted for the largest share due to rapid IoT adoption and a focus on CRM.

The Asia Pacific market had the second-largest revenue share, with rising demand for mobile work order management systems and the ability to identify trends and implement proactive maintenance driving revenue growth. The India market accounted for the largest share due to the growing e-commerce industry and adoption of smart procurement tools.

The Europe market had the third-largest revenue share, with rising demand for scalable work order management system software and heavy investments in research and development driving revenue growth. The Germany market accounted for the largest share due to the rising demand for efficient work order management system software in the manufacturing industry and cloud-based rental management software.

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Work Order Management System Market Segmentation & Impact Analysis
4.1. Work Order Management System Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.2.1. Rising demand for wearable devices and applications that aid in improving efficiency of workforce
4.2.2.2. Rapid adoption of Internet of Things (IoT) and Artificial Intelligence (AI) technologies in end-use industries
4.2.3. Market restraints analysis
4.2.3.1. Limited infrastructure in emerging economies
4.2.3.2. Lack of technical expertise and availability of skilled workforce

Chapter 5. Work Order Management System Market By Deployment Type Insights & Trends

Chapter 6. Work Order Management System Market By Application Insights & Trends

Chapter 7. Work Order Management System Market By End-User Insights & Trends

Chapter 8. Work Order Management System Market Regional Outlook

Chapter 9. Competitive Landscape

Chapter 10. Company Profiles

Companies Mentioned

  • IBM
  • IFS
  • Microsoft
  • ServiceMax
  • Innovapptive
  • Oracle
  • Coresystems
  • MEX
  • Loc8
  • Fingent.

For more information about this report visit https://www.researchandmarkets.com/r/jqpe12

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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Artificial Intelligence

ID Quantique launches a quantum-safe communication ecosystem to facilitate the adoption of Quantum networks, with HEQA Security, LuxQuanta, Quantum Optics Jena and ThinkQuantum as first partners

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GENEVA, May 14, 2024 /PRNewswire/ — To accommodate the growing demand for telecom-grade solutions that enable fast and cost-effective migration to quantum-safe communications, ID Quantique’s new Clarion KX software platform now supports multi-vendor Quantum Key Distribution (QKD) interoperability. Today, we are pleased to welcome new technology partners: HEQA Security, LuxQuanta, Quantum Optics Jena and ThinkQuantum to our Clarion KX ecosystem.

With the looming threat of quantum computers capable of breaking public-key cryptography, the reality of “harvest now, decrypt later” attack poses immediate threat to the confidentiality of enterprise, government, and IT service providers’ data. Organizations worldwide are grappling with the urgency of migrating to quantum-safe infrastructure – the most complex, time-sensitive, and costly cryptographic overhaul in IT history. Stakes are high, as failure to timely employ available mitigation strategies could expose them to significant liabilities.
To fully mitigate the associated risks, organizations are now looking to enforce a defense in depth approach by leveraging both quantum-based and algorithmic technologies at different layers of the network stack. QKD solutions, the key building block of this strategy, have been already recognized to play a critical role in ensuring long term resilience to Quantum threat.
ID Quantique Clarion KX platform leverages an open and service-based architecture to support a cost-effective scale up of QKD networks. It provides for orchestration and management of out-of-band quantum-key delivery in real time, regardless of the underlying QKD solutions or the location of the consuming encryption appliances. With its support for heterogeneous QKD infrastructure in complex and SLA demanding environments, IDQ’s Clarion KX platform also enables telecom operators to generate new revenue streams by providing new Quantum-Safe as a Service offerings to their B2B customers looking for long-term security assurance.
With ID Quantique’s expanded ecosystem and open interfaces, customers can now also leverage hybrid QKD networks, including continuous variables (CV) QKD, discrete variables (DV) QKD or Entanglement based QKD.
“We are extremely proud to break another important barrier to large-scale adoption of quantum networks. Said Grégoire Ribordy CEO of ID Quantique. Offering a vendor-agnostic ecosystem allowing heterogeneous QKD infrastructure was one of the next logical steps the market was expecting – and this is now available thanks to our partners.”
 “Reaching QKD interoperability is a significant market milestone that empowers customers to choose products freely for their networks, maximizing flexibility and adaptability to meet business needs. Said Nir Bar-Lev, CEO, HEQA Security. This customer-centric approach reflects HEQA Security’s dedication to delivering innovative solutions, even before standards are fully finalized.”
“Safeguarding both present and future communications requires customized solutions aligned with specific network requirements. That is why we must ensure multi-vendor interoperability, allowing our industry to build on the unique properties and specifications of each QKD and related technologies from different providers.” says Vanesa Diaz, CEO of LuxQuanta. “We are very pleased with the seamless work that both our teams have done to integrate our NOVA LQ® system with Clarion KX software, and we look forward to continuing to nurture this partnership.
“The integration of different technological approaches is an important step for future network architecture,” says Kevin Füchsel, CEO of Quantum Optics Jena. “The demonstration shows that our partners and customers can rely on simple and fast interoperability. This brings us a big step closer to multi-user and multi-vendor networks.”
“Partnering between ThinkQuantum and IDQ for the mutual recognition of our own quantum networking solutions is definitely moving in the direction of overcoming the competition we daily experience on the market to cooperate in the support of our common clients and Industry growth”, Simone Capeleto, CEO of ThinkQuantum.
More info on Clarion KX Platform
For more information visit our website:www.idquantique.comwww.heqa-sec.comwww.LuxQuanta.comwww.qo-jena.comwww.thinkquantum.com
Photo: https://mma.prnewswire.com/media/2412582/ID_Quantique.jpgLogo: https://mma.prnewswire.com/media/2412581/ID_Quantique_Logo.jpg
Contact: Catherine Simondi – VP Marketing and Communication, ID Quantique, [email protected] or + 42 22 801 83 71 
 

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Artificial Intelligence

Sona, next-generation workforce management for frontline, raises $27.5M Series A led by Felicis

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LONDON, May 14, 2024 /PRNewswire/ — Sona, the next-generation, intelligent workforce management platform for frontline enterprises founded by Steffen Wulff Petersen, Oli Johnson and Ben Dixon, announced today its $27.5M Series A. Felicis led the financing with participation from Northzone, Google’s AI-fund Gradient, SpeedInvest, Antler, BAG Ventures, and numerous notable angels participated in the round. Sona has raised $40M+ to date and will use this fresh round of capital to expand its go-to-market function and build more advanced AI capabilities on its platform. In 2023 alone, Sona experienced an explosive 400%+ revenue growth. To date, over 4.6 million shifts have been created on Sona.

The frontline workforce represents nearly 2 billion people worldwide, 56% of the global workforce. In spite of this, frontline innovations have received

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Artificial Intelligence

Dangbei to Unveil Mars Pro 2: World’s First Google TV 4K Laser Projector with Licensed Netflix

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A leap forward in home entertainment, combining a super-bright 4K laser cinema with the convenience of Google TV and licensed Netflix access
TUMWATER, Wash., May 14, 2024 /PRNewswire/ — Dangbei, an innovator in smart entertainment, today announces the launch of its flagship model, Dangbei Mars Pro 2, the world’s first Google TV 4K laser projector with a built-in, licensed Netflix app. It marks the first projector to combine laser-illuminated Ultra HD picture, Dolby and DTS:X surround sound, the vast content universe of Google TV, and advanced smart controls. This makes it a truly all-in-one entertainment hub, transforming spaces into a movie theater, a gaming arena, or even a sports bar.

The Brightest Projector from Dangbei
Boasting a stellar 2450 ISO lumens powered by a laser light source, Dangbei Mars Pro 2 is Dangbei’s brightest projector to date. This translates to consistently vibrant visuals, day or night, for years to come. The premium 4K UHD picture with HDR10+ support offers a theater-quality experience, and the ALPD® technology ensures speckle-free and color fringing-free visuals.
Netflix and More at Fingertips
Mars Pro 2 makes streaming a breeze. The pre-installed, licensed Netflix app delivers smooth, stutter-free playback, taking Netflix viewing on projectors to new heights. Google TV’s intuitive interface allows for managing watchlists, multiple profiles, and getting personalized recommendations from all preferred streaming services, including Netflix, YouTube, Prime Video, Hulu, Disney+, and more.
Big Picture, Big Sound
Despite its compact size compared to traditional projectors, Mars Pro 2 can project expansive images up to 200 inches—over 2.5 times larger than a 75-inch TV. The immersive adventure goes beyond visuals. Mars Pro 2 boasts powerful sound with dual 12W built-in speakers, a spacious 600ml sound chamber, Dolby Audio, and DTS:X support, creating a next-level cinematic soundscape.
Smarter Image Optimization
Mars Pro 2 debuts Dangbei’s next-gen intelligent image optimization technology, InstanPro AI Image Setup. It leverages a combination of dToF, CMOS, and AI algorithms to offer a range of functionalities. Users can enjoy faster autofocus, auto keystone, screen fit, obstacle avoidance, eye protection, and AI brightness control—all designed for a perfect viewing experience.
Unleash Endless Entertainment
Dangbei Mars Pro 2 is a one-stop shop for entertainment. A dedicated game mode with low latency, 4K 60Hz refresh rate, HDMI 2.1, and WiFi 6 ensures seamless gameplay. MEMC technology smooths out fast-action for sporting events and more. Plus, Mars Pro 2 comes with 3D capabilities including Blu-ray, all delivered in whisper-quiet operation under 24 dB for uninterrupted enjoyment.
Pricing and Availability
Dangbei Mars Pro 2 will be officially released on May 28th, available both on the official website and Amazon US for $1899. To mark the occasion, Dangbei will offer a special discount of $400, bringing the price down to $1499. Customers can even claim a free gimbal stand (valued at $139) with their purchase of Mars Pro 2 on the Official Website, by subscribing to the newsletter prior to launch. 
The new product will also be available on Amazon UK/EU and other marketplaces like MediaMarkt, Fnac, Alza, Datart, and Allegro.
About Dangbei
Dangbei is a premium smart entertainment provider specializing in projectors and other innovative products. Trusted by over 200 million users worldwide, Dangbei offers stunning visuals and immersive sound, transforming spaces into vibrant entertainment, work, and life hubs.
In China, Dangbei leads in software for large screens, providing a vast app and content library across entertainment, health, education, and productivity. Dangbei ranks Top 2 in terms of shipments in China and Top 1 in the laser projector category. Learn more at us.dangbei.com.
Photo – https://mma.prnewswire.com/media/2397856/Mars_Pro_2.jpg

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