Quality Management Software Market to Expand at a CAGR of 9.7% During the Forecast Period 2022-2028

Posted on 2022-06-17 by researchinsights in Software // 0 Comments

San Francisco, California , USA, June 17, 2022 — /EPR Network/ —

Quality Management Software Industry Overview

The global quality management software market size is estimated to reach USD 16.67 billion by 2028, registering a CAGR of 9.7% from 2021 to 2028, according to a new study by Grand View Research, Inc. The increasing advancements in functionalities of quality management software (QMS) solutions along with the increasing integration of artificial intelligence and machine learning tools are expected to boost the market growth over the forecast period.

The QMS market is also anticipated to witness significant growth owing to the rising demand for effective management of organizational processes and the need for meeting consumer expectations in a highly competitive market. In addition, the rapidly increasing technological advancements in the IT and telecom sector and growing automation of the transportation and logistics industry are also contributing to the market demand. QMS software offers various functionalities, including out-of-specification test results, handling of non-conformances, calibration, ensuring compliance as well as a centralized system that ensures connection to organizations’ ERP and CRM systems. All these functionalities, coupled with benefits such as reduction of operational costs and business process optimization, are estimated to propel the adoption of QMS across a wide range of industries.

Quality Management Software Market Segmentation

Grand View Research has segmented the global quality management software market based on solution, deployment, enterprise size, end use, and region:

Based on the Solution Insights, the market is segmented into Document Control, Non-conformances/Corrective & Preventative, Complaint Handling, Employee Training, Audit Management, Supplier Quality Management, Calibration Management, Change Management and Others.

The complaint handling segment held the largest market share of over 15% in 2020. Effective management of complaints helps in proactively meeting customer expectations and enhancing brand equity.
Calibration management solution provides essential connections between related maintenance tasks and additional quality processes for regulated life science and high-tech environments.

Based on the Deployment Insights, the market is segmented into On-premise and Cloud.

The on-premise segment held the largest market share of over 60% in 2020. Many large organizations are shifting from pen and paper-based systems to automated systems owing to the advent of digitalization, which has resulted in the increasing demand for on-premise QMS.
The cloud segment is anticipated to emerge as the fastest-growing segment over the forecast period. Increased scalability and flexibility, security aspects, and control over the data center offered by the cloud technology are some of the prime factors anticipated to boost the cloud segment growth.

Based on the Enterprise Size Insights, the market is segmented into Small & Medium Enterprise (SME) and Large Enterprise.

The large enterprise segment held the largest market share of over 60% in 2020. The reduction in expenses is the primary motivation behind the adoption of QMS among large enterprises.

Based on the End-use Insights, the market is segmented into IT & Telecom, Transportation & Logistics, Consumer Goods & Retail, Defense & Aerospace, Manufacturing, Healthcare and Others.

The manufacturing segment held the largest market share of over 20% in 2020. This growth is attributed to the stringent regulations as well as the complex processes and integrated business systems.
QMS helps telecom service providers to support their communication strategy by complying with the highest quality standards, including TL9000 requirements, in the telecommunications products and services.

Quality Management Software Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Strategic mergers and acquisitions and partnerships are estimated to be the most effective ways for market players to gain quick access into emerging markets.

Some prominent players in the global Quality Management Software market include

Aras Corporation
Arena Solutions Inc
Autodesk Inc.
Dassault Systemes SE
Hewlett-Packard Enterprise Co.
MasterControl, Inc.
Microsoft Corporation
Oracle Corporation
Parasoft Corporation
PSC Software
SAP SE
Siemens AG
Sparta Systems, Inc.

Order a free sample PDF of the Quality Management Software Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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