Batch Management Software Market - Forecasts from 2018 to 2023
The batch management software market is expected to grow at a CAGR of 6.44% during the forecast period of 2017 to 2023. Batch management, as the name suggests is the process of managing batch. It is employed in the identification of one lot of production from the other owing to the unique characteristics of the lot. Moreover, batch management software is used to track the lots in the course of their lifecycle or if any complaint or recall issue arises, aids in search of items and helps in deciding which batch would fit a specific requirement. Batch management software helps to schedule, initialize, allocate and coordinate the processing of batches through control system with operator runtime clients as interface and direct functions like material consumption, batch activity and production records to historical database for effective management. Certain alarms and events corresponded with a specific batch are generated in order to notify operators or commence the automated workflow.
Batch management software allows reduction of the time as well as speed required to market the product which is critical for various industries. Many production facilities have little automation or no automation procedures and are predominantly operated manually. The increased need for standard solutions across global production facilities with improved technology and better user-friendly tools drives the global market for batch management software. Moreover, enhanced demand for better production coupled with a key focus on quality also contributes to the market growth. However, significant maintenance costs is a key impediment to the adoption of these solutions. Also, lack of availability of a skilled workforce to handle critical operations related to the software negatively impacts the market growth.
Geographically, Asia Pacific region is expected to be one of the major batch management software market segments on account of the expansion of various industries such as chemical, food & beverage and healthcare among others in the region. Countries like China and India are witnessing rapid development due to the strengthening economy, thus unleashing ample opportunities for the software vendors. Moreover, developed economies such as the US focuses primarily on batch management software in the place of traditional solutions due to a strong growth in consumer goods and durables market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the batch management software market.
Key industry players profiled as part of this section are Schneider Electric, Software Engineering of America, MasterControl and ABB among others.
The batch management software market has been segmented by component, industry vertical, and geography as below:
By Industry Vertical
Food and Beverage
Pulp and Paper
Middle East and Africa (MEA)
Asia Pacific (APAC)
Software Engineering of America