According to Cognitive Market Research, the global Tool Management Software market size is USD 40158.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 14.20% from 2024 to 2031.
North America held the major market of more than 40% of the global revenue with a market size of USD 16063.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 12047.46 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 9236.39 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 2007.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.
Middle East and Africa held the major market of around 13.9% of the global revenue with a market size of USD 803.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7%from 2024 to 2031.
The manufacturing sector is the dominating category in the tool management software market. Manufacturing companies often have extensive tool inventories and complex production processes that require efficient management.
