The global Quality Management Software market size is expected to be worth around US$ 17.09 billion by 2028, according to a new report by Vision Research Reports.
The global Quality Management Software market size was valued at US$ 7.97 billion in 2020 and is anticipated to grow at a CAGR of 10.2% during forecast period 2021 to 2028.
Growth Factors
Quality management software (QMS) is used to better manage and control quality concerns regarding performance, customer satisfaction, and competitiveness of the organization. This is done by controlling the processes as well as products for consistent quality assurance, reducing the quality gap between manufacturing practices and end-product expectations, tracking of deviations, and ensuring compliances. Moreover, owing to the increasing advancements in functionality of solutions with the help of (AI) and machine learning (ML) tools, the market is anticipated witness rapid growth.
The QMS market is expected to witness tremendous growth due to the increasing demand for effective management of organizational processes and the need for meeting consumer expectations in a highly competitive market. Rapid technology advancements in IT and telecom as well as the automation of transportation and logistics industry are driving the market growth. QMS software offers numerous functionalities including handling of non-conformances, out of specification test results, calibration, ensuring compliance as well as a centralized system that ensures connection to organizations’ ERP and CRM systems. All these capabilities coupled with the reduction in the costs are energizing the adoption of quality management software across a wide range of industries.
Report Highlights
The document control segment dominated the quality management software market with a share of over 17% in 2019. This can be attributed primarily to the necessity of large organizations to maintain quality adherence in these processes. The complaint handling segment is expected to grow substantially over the forecast period. Growing adoption of standard complaint handling tools and processes will act as fundamental drivers to boost the segmental growth.
Cloud and on-premise are two types of deployment methods used by industry players. The on premise segment is anticipated to be dominant in the market with cloud based deployments gaining traction in the coming years. The scalability and flexibility of the cloud technology, security aspects, and control over the data center are some of the prime factors that will boost the utility of cloud technology in the dispersion of QMS solutions. Presently, as per the tech industry experts, around 60% of workloads are run on a hosted cloud service in 2019.
The large enterprise segment dominated the market with a revenue share of more than 64% in 2019. The reduction in costs is the primary motivation behind the adoption of quality management software in this segment. Many of the quality management software vendors have a different set of software suites for large enterprises and small and medium enterprises. These suites are tailored to fit the exact requirements of the clients and hence play a vital role in the selection process.
The manufacturing and transportation and logistics segment have a strong demand for quality management software owing to the stringent regulations as well as the complex processes and integrated business systems. Both segments are expected to dominate the market followed by the IT and telecom segments. The healthcare segment is expected to be one of the largest adopters of quality management software. Moreover, a large number of healthcare QMS vendors are offering software to maintain current good manufacturing practices and medical device regulations including European Union Medical Device Regulation (EU MDR), FDA 21 CFR part 820, and ISO.
North America dominated the market with a share of over 40% in 2019. Asia Pacific is anticipated to be the fastest growing regional market driven by the growing awareness about the standards and the quality among the emerging economies such as China and India. The increasing regulatory pressure in European region and reforms in the EU data protection rules for protecting the enterprise data is remarkably impacting the adoption of quality management software. Moreover, across the globe, in various regions such as European Union, Asia Pacific, and U.S. and Canada, proof of ISO 9000 registration has become a prerequisite for conducting trade with companies and government agencies tracked by industry and government regulations.
Key Players
MasterControl, Inc.
SAP SE
Sparta Systems, Inc.
PSC Software Company
Arena Solutions Inc.
Aras Corporation
Autodesk Inc.
Dassault Systemes SE
Oracle Corporation
Siemens AG
Parasoft Corporation
Hewlett-Packard Enterprise Co.
Microsoft Corporation
Market Segmentation
Solution Outlook
Document Control
Non-Conformances/Corrective & Preventative
Complaint Handling
Employee Training
Audit Management
Supplier Quality Management
Calibration Management
Change Management
Others
Deployment Outlook
Cloud
On-premise
Enterprise Size Outlook
Small & Medium Enterprise (SME)
Large Enterprise
End-use Outlook
IT & Telecom
Transportation & Logistics
Consumer Goods & Retail
Defense & Aerospace
Manufacturing
Healthcare
Others
Regional Outlook
North America
U.S.
Canada
Europe
U.K.
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Mexico
Middle East & Africa
The Quality Management Software market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Quality Management Software market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Quality Management Software market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Quality Management Software market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Quality Management Software market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Quality Management Software capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Quality Management Software by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Quality Management Software market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Quality Management Software market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Quality Management Software market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Quality Management Software industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Quality Management Software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Quality Management Software market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Quality Management Software market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Quality Management Software market. These factors have benefited the growth of the global market for Quality Management Software. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Quality Management Software. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Quality Management Software are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers