Market Overview:
The global standard operating procedure (SOP) management market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for standardized and streamlined business processes across industries, and the need for compliance with regulatory requirements. The SOP management market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into document control workflow process, centralized processes and procedures, SOP writing and manuals. The document control workflow process segment is expected to hold a major share in the global SOP management market during the forecast period owing to its ability to manage documents effectively across an organization by streamlining workflows. On the basis of application, BFSI sector accounted for a major share in 2017 owing to stringent compliance regulations followed by this sector globally.
Product Definition:
A Standard Operating Procedure (SOP) is a written or oral description of how to do a task. It typically includes step-by-step instructions, as well as diagrams, pictures, and other supporting information. SOPs are important because they help ensure that tasks are done the same way every time, which can improve safety and efficiency. They can also help reduce the likelihood of mistakes or injuries.
Document Control Workflow Process:
The global document control workflow process market size was valued at USD 1.5 billion in 2015 and is expected to witness a significant growth over the forecast period owing to its increasing adoption in the healthcare sector. The growing need for automation of manual processes, such as those involved with medical records maintenance, is anticipated to drive demand over the coming years.
Centralized Processes and Procedures:
Centralized processes and procedures are used to eliminate the need for repetitive tasks in SOPM market. These solutions help in improving efficiency, automating time-consuming procedures, reducing manual efforts and eliminating errors that may occur during the process. It also helps to improve operational effectiveness by facilitating faster decision making with higher level of accuracy while decreasing operating costs.
Application Insights:
The manufacturing sector accounted for the largest revenue share in 2016 and is expected to continue its dominance over the forecast period. The SOP management process helps manufacturers to manage complex processes, such as change control, quality control, and others. Furthermore, standard operating procedures help reduce rework by providing step-by-step instructions on how a particular procedure should be carried out. This factor is anticipated to drive industry growth over the forecast period.
The healthcare segment accounted for a significant revenue share in 2016 owing to increasing government initiatives towards improving healthcare services at an operational level across various industries worldwide including pharmaceuticals and medical devices among others. In addition, growing demand from hospitals and other healthcare facilities for effective standard operating procedures management is likely to propel market growth during the estimated time frame of 2017 - 2030 (estimated).
Regional Analysis:
The Asia Pacific region is anticipated to witness the highest growth over the forecast period owing to increasing government initiatives and regulatory changes in various countries. The standard operating procedure management market in this region is expected to grow on account of growing adoption of these standards by industries such as healthcare, manufacturing, and others.
In addition, rising awareness among employees about their duties and responsibilities towards organization’s assets has led companies in this sector to adopt SOP management systems for efficient operations. Moreover, increasing outsourcing activities are also driving demand for these systems across several sectors including IT & telecom services industry which has resulted into high growth potential for the market across developing economies such as India and China over the forecast period.
North America held a significant share of global market due to early adoption of best practices followed by U.S.
Growth Factors:
- Increasing demand for standardization and compliance in business operations
- Proliferation of digital technologies and big data analytics that can help automate and optimize SOPs
- Growing number of small businesses that need to adopt standardized processes to compete with larger organizations
- Emergence of cloud-based SOP management solutions that make it easier to manage and share procedures across multiple locations or teams
- Increased focus on safety, quality, and efficiency in manufacturing and other process-driven industries
Scope Of The Report
Report Attributes
Report Details
Report Title
Standard Operating Procedure Management Market Research Report
By Type
Document Control Workflow Process, Centralized Processes and Procedures, SOP Writing and Manuals
By Application
BFSI, Retail and Consumer Goods, Manufacturing, IT and Telecom, Healthcare, Others
By Companies
Azbil, IBM, Master Control, Bizmanualz, Accenture, HP, Oracle, Khosla Ventures
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
208
Number of Tables & Figures
146
Customization Available
Yes, the report can be customized as per your need.
Global Standard Operating Procedure Management Market Report Segments:
The global Standard Operating Procedure Management market is segmented on the basis of:
Types
Document Control Workflow Process, Centralized Processes and Procedures, SOP Writing and Manuals
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BFSI, Retail and Consumer Goods, Manufacturing, IT and Telecom, Healthcare, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Azbil
- IBM
- Master Control
- Bizmanualz
- Accenture
- HP
- Oracle
- Khosla Ventures
Highlights of The Standard Operating Procedure Management Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Document Control Workflow Process
- Centralized Processes and Procedures
- SOP Writing and Manuals
- By Application:
- BFSI
- Retail and Consumer Goods
- Manufacturing
- IT and Telecom
- Healthcare
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Standard Operating Procedure Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Standard Operating Procedure Management (SOPM) is a process that helps organizations manage their operational procedures. SOPs are written documents that outline the specific steps and tasks necessary to complete a particular task or project. By having standardized processes in place, businesses can ensure consistency and accuracy across all aspects of their operations.
Some of the key players operating in the standard operating procedure management market are Azbil, IBM, Master Control, Bizmanualz, Accenture, HP, Oracle, Khosla Ventures.
The standard operating procedure management market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Standard Operating Procedure Management Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Standard Operating Procedure Management Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Standard Operating Procedure Management Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Standard Operating Procedure Management Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Standard Operating Procedure Management Market Size & Forecast, 2020-2028
4.5.1 Standard Operating Procedure Management Market Size and Y-o-Y Growth
4.5.2 Standard Operating Procedure Management Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Document Control Workflow Process
5.2.2 Centralized Processes and Procedures
5.2.3 SOP Writing and Manuals
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 BFSI
6.2.2 Retail and Consumer Goods
6.2.3 Manufacturing
6.2.4 IT and Telecom
6.2.5 Healthcare
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Standard Operating Procedure Management Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Standard Operating Procedure Management Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Document Control Workflow Process
9.6.2 Centralized Processes and Procedures
9.6.3 SOP Writing and Manuals
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 BFSI
9.10.2 Retail and Consumer Goods
9.10.3 Manufacturing
9.10.4 IT and Telecom
9.10.5 Healthcare
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Document Control Workflow Process
10.6.2 Centralized Processes and Procedures
10.6.3 SOP Writing and Manuals
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 BFSI
10.10.2 Retail and Consumer Goods
10.10.3 Manufacturing
10.10.4 IT and Telecom
10.10.5 Healthcare
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Document Control Workflow Process
11.6.2 Centralized Processes and Procedures
11.6.3 SOP Writing and Manuals
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 BFSI
11.10.2 Retail and Consumer Goods
11.10.3 Manufacturing
11.10.4 IT and Telecom
11.10.5 Healthcare
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Document Control Workflow Process
12.6.2 Centralized Processes and Procedures
12.6.3 SOP Writing and Manuals
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 BFSI
12.10.2 Retail and Consumer Goods
12.10.3 Manufacturing
12.10.4 IT and Telecom
12.10.5 Healthcare
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Document Control Workflow Process
13.6.2 Centralized Processes and Procedures
13.6.3 SOP Writing and Manuals
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 BFSI
13.10.2 Retail and Consumer Goods
13.10.3 Manufacturing
13.10.4 IT and Telecom
13.10.5 Healthcare
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Standard Operating Procedure Management Market: Competitive Dashboard
14.2 Global Standard Operating Procedure Management Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Azbil
14.3.2 IBM
14.3.3 Master Control
14.3.4 Bizmanualz
14.3.5 Accenture
14.3.6 HP
14.3.7 Oracle
14.3.8 Khosla Ventures
