The Europe Quality Management Software Market would witness market growth of 8.6% CAGR during the forecast period (2021-2027). Quality Management Software is a solution that streamlines the management and offers better control over various business processes.
It has become one of the crucial software used in business operations to check & ensure product quality. This software interfaces every office in each step of the product lifecycle from the planning of the product to commercialization and beyond. Quality management software is widely installed in a broad range of industries like healthcare, transportation & logistics, IT & telecom, consumer goods & retail, manufacturing, defense & aerospace, among others.
Communication is one of the key elements to run a business properly and increase profitability. By implementing quality management software, companies can establish a proper communication system that helps in connecting every part of the company to ensure a proper flow of communication. Any kind of faulty & ineffective communication and inappropriate procedures can hinder the proper development of the company.
Improper communication can also lead to misunderstanding, poor quality, low- productivity, duplication of efforts and low morale. Quality Management Software binds together all the employees of different related sections, departments and stages of management for efficient communication & interaction. Thus, QMS helps in solving communication hindrances and boost productivity & quality of work.
The European region is anticipated to register an increasing demand for quality management software during the forecast period. It is because SaaS providers in Europe are availing various solutions on cloud-based platforms that have to abide by the European Data Protection Directive and General Data Protection Regulation. It provides lucrative opportunities for the key market players to maintain their dominance in the region.
In addition, the European Union's Medical Device Regulation (EU MDR) has changed with the Medical Device Directive in 2020, which needs the medical companies to fulfil their requirements like device classification & updating QMS. Further, all these aspects are projected to accelerate the growth of the quality management software market in the European region during the forecast period.
The Germany market dominated the Europe Non-conformances/Corrective & Preventative Quality Management Software Market by Country 2020, thereby, achieving a market value of $142.8 million by 2027. The UK market is showcasing a CAGR of 8.3% during (2021 - 2027). Additionally, The France market is anticipated to grow at a CAGR of 10% during (2021 - 2027).
Based on Solution Type, the market is segmented into Complaint Handling, Document Control, Audit Management, Non-conformances/Corrective & Preventative, Change & Calibration Management, Supplier Quality Management, Employee Training and Others. Based on Enterprise Size, the market is segmented into Large Enterprise and Small & Medium Enterprise (SME). Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on End User, the market is segmented into Manufacturing, Telecom & IT, Consumer Goods & Retail, Healthcare, Transportation & Logistics, Aerospace & Defense and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Quality Management Software Market Size will Hit $16.9 Billion by 2027, at a CAGR of 9.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc. (Sparta Systems, Inc.), SAP SE, PTC, Inc. (Arena Solutions, Inc.), Plex Systems, Inc., Cority Software, Inc. (Thoma Bravo), Oracle Corporation, Siemens AG, Dassault Systemes SE (Biovia Corporation), Microsoft Corporation, and MasterControl, Inc.
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