The global batch management software market is expected to grow at a CAGR exceeding 7% over the next seven years. Rising demand for enhanced production coupled with increasing importance to quality is expected to drive the market over the forecast period.
Industries such as food &beverages, chemicals, pharmaceutical, and biotechnology employ batch management systems to enhance production. This software is also significantly used in mining & metals, cement and glass, and pulp and paper industries.
Companies have been adopting batch management software in order to reduce risk of product recall and maintain customer satisfaction & loyalty. Rising importance of social media through which consumers may easily share their opinions and criticism regarding product quality is expected to have a positive impact on market growth.
Increasing importance of time to market is anticipated to stimulate batch management software demand in near future. In a time based competition, time taken from initiation of an idea to the finished product is critical for a reduced production cycle time. By reducing the total time needed for a product to reach the market, the consumers will be able to purchase it, thus generating greater profit margins in a short span of time.
Batch management software helps in reducing the time to market and in reducing speed to market for development of new products which is very efficient particularly in the pharmaceutical and biotechnology industries.
Stringent regulations in the food and drug industry are expected to have a positive impact on market growth over the foreseeable future. According to title 21 Part 11 of the food and drug administration(FDA) which implies that all the processes audits, controls, system validations, electronic signatures, and documentation are to be maintained in electronic format by FDA regulated industries. Through adoption of batch management software, all the companies are expected to provide product traceability information efficiently to authorities on demand.
High system maintenance costs along with requirement of skilled manpower to handle critical operations are expected to be a major restraint for the batch management software market. Non-availability of a skilled workforce may have a negative impact on company production processes.
In order to be more efficient and cost-effective in the production process, manufacturers have been shifting to advanced batch applications. This is anticipated to cater to consumer needs and produce products more economically.
Evolution of business system integration is anticipated to assist batch management software products. Factors such as closer integration with business systems, implementation of analytical technologies, and use of different working models & workflow engines are anticipated to drive the batch management system market over the forecast period.
Governments in developed economies such as the U.S. are replacing custom batch solutions with other basic software. Manufacturers are enhancing the use of systems along with maintaining product flexibility. There is a continuous growth in consumer goods and durables market which is expected to lead to higher demand for quality and variety of products. The aforementioned factor is anticipated to increase the implementation of batch management software over the forecast period.
Various manufacturing facilities have little to no automation infrastructure and are primarily operated manually. Growing requirements for standard solutions across various facilities globally is leading suppliers to respond with improved technology, and developed user-friendly tools. Thus business management software adoption is anticipated to provide greater visibility to the manufacturing operations.
The batch management software market can be segmented on the basis of functionalities including recipe management &execution, production scheduling, historian &reporting, quality management, and resource &inventory management. Wonderware Inbatch is an independent batch management system introduced to run new product recipes, by reducing time to market and recipe validation efforts in regulated industries. This software was designed by Schneider Electric to assist collaboration of operational teams to adopt recipes and optimize packaging automation.
Major end-use industries employing batch management systems in their production process include pharmaceutical, biotechnology, chemical, food &beverage, pulp & paper, mining & metals, cement & glass. North America dominated the market in 2014 owing to rising business management software adoption in these end-use industries. U.S. is anticipated to witness high growth over the next seven years on account of large presence of pharmaceutical and biotechnology industries in the country.
Asia Pacific is anticipated to witness the fastest growth over the next seven years owing to growing pharmaceutical, chemical, food & beverage industries in the region. Countries such as India, China, and Japan are anticipated to increasingly adopt business management software in the above mentioned end-use industries for efficient production.
Key players operating in the global batch management software market include Rockwell Automation Inc., Siemens AG, ABB Ltd., Emerson Electric Co, General Electric Co., SAP AG, Invensys plc, Werum Software, and Systems AG., Honeywell International Inc., Yokogawa Electric Corp, and Aspen Technology Inc. Major companies operating in the market are continuously involved in technological innovations and new product development in order to enhance their visibility in the industry.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.
"The quality of research they have done for us has been excellent..."
In contrast to its related industries like consumer electronics and semiconductors, the data center and communications infrastructure industry is expected to be more buoyant with continued strategic investments made to support the increased network traffic and data usage for remote working during the lockdown phase. From school closures necessitating students to use virtual offerings (Google Classroom ) to the governments using business analytics services (Power BI) for communicating virus updates, the demand for communication services and related infrastructure has witnessed an unprecedented rise amidst the global pandemic. Digital services including telemedicine are expected to remain popular even after the pandemic is contained, thereby ensuring strong growth in the communication infrastructure industry. The report will account for Covid19 as a key market contributor.