Spare Parts Management (SPM) Market worth $1,820.2 million by 2030 | MarketsandMarkets™

DELRAY BEACH, Fla., Nov. 28, 2025 /PRNewswire/ -- According to MarketsandMarkets™, the Spare Parts Management Market is projected to grow from about USD 1,021.3 million in 2025 to USD 1,820.2 million by 2030, at a CAGR of 12.3%.

Browse 220 market data Tables and 55 Figures spread through 200 Pages and in-depth TOC on "Spare Parts Management (SPM) Market - Global Forecast to 2030"

Spare Parts Management (SPM) Market Size & Forecast:

• Market Size Available for Years: 2020–2030
• 2025 Market Size: USD 1,021.3 million
• 2030 Projected Market Size: USD 1,820.2 million
• CAGR (2025–2030): 12.3%

Spare Parts Management (SPM) Market Trends & Insights:

• Growth in the Spare Parts Management Market is driven by expanding MRO operations, real-time inventory optimization needs, and the shift toward advanced service parts planning.
• By Solution, inventory management segment to lead market during forecast period
• By professional service, support & maintenance segment to exhibit fastest growth rate during forecast period
• Professional Services segment to showcase 13.1% CAGR during forecast period.
• North America to lead market during forecast period.

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Spare parts management systems have redefined aftermarket performance by integrating advancements such as AI-driven demand sensing, multi-echelon inventory optimization, and always-on parts visibility to sustain high service reliability in asset-intensive operations. These innovations deliver sharper forecasting accuracy, reduced working-capital exposure, and stronger adherence to uptime and service-level commitments, accelerating adoption across manufacturing, industrial machinery, transportation fleets, and energy infrastructure. By embedding predictive analytics, automated replenishment engines, warranty-linked planning, and intelligent repair-return orchestration into a unified service supply chain core, enterprises achieve higher asset availability, faster service turnaround, and materially lower downtime-related costs. This digital backbone supports mission-critical maintenance, global service coordination, and profitability-driven aftermarket models with greater precision while minimizing inventory imbalance, operational waste, and lifecycle disruption across distributed service networks.

By Solution, inventory management segment to lead market during forecast period

Inventory management within spare parts operations is advancing toward intelligent, data-driven control of stock levels, replenishment, and lifecycle costs. Modern systems consolidate data from work orders, field operations, and warehouse transactions to achieve precise visibility and ensure that the right parts are available when needed. In March 2025, Syncron introduced its Intelligent Inventory Buffering capability within its Parts Planning & Inventory Management platform, allowing manufacturers to replace static safety stock rules with dynamic, usage-based buffers. Similarly, in October 2024, ValueApex launched an integrated spare parts inventory module featuring 5G connectivity and real-time AI analytics to minimize obsolete and overstocked inventory across multi-site operations. These developments underscore the industry's shift toward autonomous, analytics-driven inventory ecosystems. Solution providers aiming to excel in this segment should focus on developing unified control towers that merge inventory intelligence with logistics coordination, supplier lead-time data, and service-demand forecasting. Integrating digital twins of warehouse assets, drone-assisted stock audits, and vision-based part identification enhances operational precision and shortens replenishment cycles. Embedding predictive restock logic, criticality-based prioritization, and event-triggered alerts transforms inventory management into a proactive enabler of uptime rather than a cost center. Vendors that deliver end-to-end visibility supported by autonomous decision-making and IoT-enabled execution will be best positioned to redefine inventory reliability standards across asset-intensive industries.

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By professional service, support & maintenance segment to exhibit fastest growth rate during forecast period

Support and maintenance services in the Spare Parts Management Market ensure long-term system reliability, seamless performance, and continuous improvement of deployed platforms. These services encompass proactive system monitoring, predictive diagnostics, regular software upgrades, and dedicated technical support to safeguard uptime and system health. In April 2024, PTC and Trax announced a strategic partnership to integrate PTC's Servigistics spare parts management platform with Trax's aviation maintenance solutions, enabling airlines and MRO providers to enhance parts availability and service continuity across asset-intensive operations.

 In light of increasing complexity in service networks and digital spares operations, vendors offering advanced support and maintenance services must go beyond reactive help-desk responses. Providers should embed real-time issue detection, automated root-cause workflows, usage-based health analytics, and remote field diagnostics to minimize disruptions and extend system longevity. Opportunities are present for those who deliver subscription-based maintenance models with performance guarantees, lifecycle optimization consulting, and ecosystem-wide visibility across suppliers, logistics, and field service. Solution providers that build adaptive, data-driven support frameworks will amplify customer confidence and secure long-term engagements in the spare parts management ecosystem.

North America to lead market during forecast period

The spare parts management (SPM) market in North America is being shaped by strong digital infrastructure, resilient logistics networks, and evolving trade frameworks that promote regional sourcing and supply chain integration. According to GSMA (2025), around 60% of mobile connections in the region are now 5G, while nearly 320 million people use mobile internet, creating an environment ideal for IoT-based monitoring, predictive maintenance, and connected field service operations. This widespread connectivity allows technicians and OEMs to access real-time diagnostics, e-parts catalogs, and asset telemetry across large service networks. At the same time, the GEP Volatility Index for North America improved to -0.24 (June 2025), signaling a gradual recovery in supply chain activity. However, manufacturers continue to face delivery delays tied to trade and tariff adjustments, prompting the need for safety-stock optimization and automated lead-time management in SPM systems.

Logistics and transport indicators further highlight the region's readiness for data-driven parts management. Rail volumes across North America grew 2.4% year-to-date through 2025 (Association of American Railroads), improving inland parts repositioning and warehouse connectivity. Port operations have largely stabilized, according to the World Bank's CPPI 2024, which has reduced variability in inbound lead times. Meanwhile, trade policies such as the USMCA's 75% regional content rule for vehicles and parts (Trade.gov) are pushing manufacturers to localize sourcing and strengthen regional inventory pools. Together, these dynamics, including high connectivity, nearshoring, and supply-chain modernization, are reinforcing North America's shift toward predictive, digitally coordinated spare parts management.

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Top Companies in Spare Parts Management (SPM) Market:

The Top Companies in Spare Parts Management Market include Syncron (Sweden), IFS (Sweden), PTC (US), Baxter Planning (US), Fiix (Canada), SAP (Germany), IBM (US), Oracle (US), and Tavant (US).

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