The growing demand for automated workflow and efficient document control system is driving the growth of the global SOP management solutions market. SOP management solutions help to maximize efficiency and safety on the compilation of files and documents across all the industries. SOP management solutions enable companies to perform business in a regulatory environment. SOP management solutions perform functions such as document control and management, ensure compliance policies, employee training, improve efficiency and save money.
The SOP management solutions are based on secure and central document repository that allows users to easily locate and retrieve the documents required. SOP management solutions provide electronic distribution and routing of all electronic files. SOP management solutions enable organizations in creation, distribution, approval and archiving of all the electronic documents. Vendors offer SOP management solutions for a wide range of documents such as work instructions, manuals, job descriptions, forms, and product specifications, among others.
SOP Management Solutions Market: Drivers and Challenges
The cloud storage of files is one of the major drivers for the growth of the global SOP management solutions market. Cloud storage enables easy access to files from any location. Many business server networks are getting off the ground and into cloud storage. The work-from-home trend is acting as one of the major drivers for the growth of the global SOP management solutions market, and is expected to boost the growth of the market during the forecast period. Other major factors such as increased ICT spending, increasing adoption of smartphones and tablets and strict government compilation regulations such as AIIM, HIPAA and others are expected to drive the growth of the global SOP management solutions market during the forecast period.
The major factors restraining the growth of the global SOP management solutions market insecurity and information breach, memory hog and slow performance of the PC after installation of SOP management solutions.
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SOP Management Solutions Market: Segmentation
Segmentation Based on the Component:
The SOP management solutions market is segmented based on the component into software and services. The services segment can be further sub-segmented into professional services and managed services.
Segmentation Based on the Deployment:
The SOP management solutions market is segmented based on the deployment into on-premise and cloud-based. The cloud-based segment is expected to have major market share in the global SOP management solutions market during the forecast period due to the high adoption of cloud technology.
Segmentation Based on the Industry:
The SOP management solutions market is segmented based on the industry into healthcare, retail, government, BFSI, education, legal service firms and others.
The global SOP management solutions market is segmented into North America, Latin America, Western Europe, Eastern Europe, South East Asia (SEA), China, Japan and Middle East & Africa. Presently, North America holds a large share in the global SOP management solutions market because of the high adoption rate of advanced technology by various industries. Western Europe and SEA are also significantly adopting SOP management solutions and are expected to be potential markets during the forecast period.
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Examples of some of the key players operating in the global SOP management solutions market are :
- MasterControl, Inc.,
- IBM Corporation,
- NextDocs Corporation,
- DASSAULT SYSTÈMES,
- EtQ LLC,
- ConvergePoint Inc.,
- DHC Business Solutions GmbH & Co. KG,
- Sarjen Systems Pvt. Ltd.,
- Business Design Corp.,
- ComplianceBridge Corporation
The report covers exhaustive analysis on:
SOP Management Solutions Segments:
- Market Dynamics
- Historical Actual Market Size, 2013 – 2017
- Market Size & Forecast 2018 to 2028
- Value Chain
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Market Drivers and Restraints
Regional analysis for SOP Management Solutions Market includes development in the following regions:
- North America Industrial Plant Management Software Market
- Latin America Industrial Plant Management Software Market
- Western Europe Industrial Plant Management Software Market
- Rest of Western Europe
- Eastern Europe Industrial Plant Management Software Market
- Rest of Eastern Europe
- SEA and Other APAC Industrial Plant Management Software Market
- Australia and New Zealand (ANZ)
- Rest of SEA
- Japan Industrial Plant Management Software Market
- China Industrial Plant Management Software Market
- Middle East and Africa Industrial Plant Management Software Market
- GCC Countries
- Other Middle East
- North Africa
- South Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint