MRO Software Market size is projected to be valued $XX Billion by 2025; with a CAGR of XX% from 2017 to 2025.MRO (maintenance, repair and operating supply) items are used in plant maintenance and production. MRO could be a substance such as maintenance supplies, spare parts and consumables used in the production process. These items can be either valuated or non-valuated and depending on the value of the items, no physical inventory is done.
Increase in digitalization of MRO activities as well as high demand in aviation maintenance software services from MROs are expected to drive the growth of the aviation MRO market. However, the limited investments restrain the adoption of MRO software, and lack of common data standards is a hurdle in the growth of this market. Furthermore, increasing adoption of internet of things (IoT), artificial intelligence (AI), augmented reality (AR), and big data analytics by MROs are likely to create opportunities for MRO software market expansion.
MRO Software Market is segmented on the basis of solution, end user, deployment and geography. On the basis of solution, the MRO software market is segregated into enterprise resource planning (ERP) and point solution. Based on end user, MRO software market is segmented into original equipment manufacturers (OEM), maintenance repair overhaul (MRO) and airlines. The deployment segmented of MRO software market is segmented into cloud based and on premises.
MRO Software Market by geography is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S. and Canada are countries under North America wherein Europe covers U.K, Germany, France and others. Asia-Pacific covers China, India, Japan, and rest of Asia-Pacific. RoW covers South America, Middle East and Africa.
Major markets operating in the MRO Software segment market are AerData, HCL Technologies, IBM Corporation, IFS, Oracle Corporation, Ramco Systems, Rusada and SAP, among others
The key takeaways from the report
Scope of MRO Software Market
End User Segments