A product cost management software is a set of tools that allows users to track and control the designing and processing costs of manufactured goods and other development-intensive products. To discover cost drivers and compare several designs for feasibility and cost-effectiveness is the key reason for its deployment by several companies globally. The software helps these companies to keep a track on the product manufacturing cost. The software can be deployed as a standalone option, or it may be installed as a module in a product lifecycle management suite.
MARKET SCOPE
The "Global Product Cost Management Software Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the product cost management software market with detailed market segmentation by deployment, industry, and geography. The report provides key statistics on the market status of the leading product cost management software market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on deployment, the global product cost management software market is segmented into industry cloud and on-premise.
- On the basis of industry, the market is segmented into BFSI, healthcare, retail, media and entertainment, manufacturing, public utility, and others.
MARKET DYNAMICS
Drivers:
- The manufacturing industry's growth, particularly in developing economies, is driving the product cost management software market. The software offers various benefits to manufacturers such as accuracy, product tracking, as well as developments.
- Rising automation in the manufacturing sector, even by SMEs, is propelling the product cost management software market.
Restraints:
- However, factors such as system infrastructure & system downtime might hamper the growth of the product cost management software market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The product cost management software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the product cost management software market in these regions.
IMPACT OF COVID-19 ON PRODUCT COST MANAGEMENT SOFTWARE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the product cost management software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from product cost management software market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the product cost management software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- 3C Software (Computer Concepts Corporation)
- aPriori
- Boothroyd Dewhurst, Inc.
- EasyKost
- FACTON
- GALORATH
- HYPERLEAN
- PRICE Systems, LLC
- Siemens
- SiliconExpert