Quality and Lifecycle Management Software Market

Global Quality and Lifecycle Management Software Market Size, Share & Industry Trends Analysis Report By Component, By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Deployment Type, By Vertical, By Regional Outlook and Forecast, 2022 - 2028

Report Id: KBV-14621 Publication Date: March-2023 Number of Pages: 381
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Market Report Description

The Global Quality and Lifecycle Management Software Market size is expected to reach $46.9 billion by 2028, rising at a market growth of 7.3% CAGR during the forecast period.

Quality is a vital part of every product throughout its existence. It is essential to a company's profitability. Solutions for quality & lifecycle management (QLM) involve controlling a product's quality and the processes connected to it. They assist in lowering the expenses related to error correction. A product can now be marketed more quickly due to these methods. Managing quality through specialized QLM software is profitable and aids organizations in staying ahead of the competition in the market due to the fierce competition in the market and the complexity of business processes and manufacturing.

Quality and Lifecycle Management Software Market Size - Global Opportunities and Trends Analysis Report 2018-2028

The main drivers of the growth of the QLM software market are the increasing need for continuous innovation and iteration, lower production costs, and rising demand for smart homes. Also, the increased adoption of QLM software by midsize enterprises, with limited resources available to optimize their operations, has considerably contributed to the expansion of the market in terms of the user base.

Quality management software helps firms to automate or streamline their quality management operations. It also offers a central location for all information and documents about quality. This aids companies in keeping tabs on the development of their quality management initiatives. Managing a product's whole lifecycle, from conception to retirement, is made possible through product lifecycle management software. It aids companies in keeping track of and managing the different phases of a product's life cycle, including design, development, testing, and production.

COVID-19 Impact Analysis

Industries all across the world were badly impacted by the COVID-19 outbreak. The market's overall growth is constrained by the disruption of supply chain operations and a decline in end-user expenditure on goods and services. The market for quality and lifecycle management software (QMS) was moderately impacted by COVID-19's expansion. Due to financial limitations and reluctance to invest in new technologies, the market's growth was slow. The breakout of the COVID-19 pandemic has badly damaged the logistics, transport, and manufacturing sectors.

Market Growth Factors

Rising use of high-tech smart devices and electronics

Quality management is essential in the electronics sector to guarantee that products fulfill the highest performance, dependability, and safety requirements. Electronic devices are used daily in modern life, from computers and cell phones to home appliances and business machinery. Due to this, a significant need for high-quality electronic products can only be met by efficient quality control systems (QMS). This is predicted to support the growth of the quality and lifecycle management software market in the upcoming years.

Quality and Lifecycle Management Software Market Share 2021

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.

Growing need for quality management

Quality management aids businesses in enhancing product dependability, longevity, and performance. These variables serve to distinguish a company from its rivals. Customers who are more satisfied with a product's quality spend more. Consumers will anticipate the same level of quality every time they purchase from the organization. However, the same product could be sold to clients with varying quality requirements without a suitable quality control system. As a result of these factors, the need for quality management is increasing, which is anticipated to positively impact the market expansion.

Market Restraining Factors

High cost to be spent initially

Although the cost of Quality is always a big factor, Quality management is a different concept. Because quality management necessitates a shift in worldview, rigorous project management, complete documentation of all processes, and extensive training, it can be time- and cost-intensive initially. Suppose a company wishes to use quality & lifecycle management software and reap its full benefits. In that case, it will need extensive education and knowledge to do it effectively. That does not mean companies must hire one of the big four consulting firms, but they must have a clear action plan and competent counsel. As a result, the market is anticipated to witness slow growth during the projection period.

Component Outlook

By component, the quality and lifecycle management software market is bifurcated into solution and services. In 2021, the solution segment accounted the largest revenue share in the quality and lifecycle management software market. This is because these solutions are very flexible and let the firm change the platform without writing any code. With a fast implementation, it's easy to change and build apps that meet regulations and standards around the world. In addition, the organization will have real-time, device-independent access to high-quality data, documents, analytics, and reports.

Quality and Lifecycle Management Software Market Share and Industry Analysis Report 2021

Deployment Mode Outlook

On the basis of deployment mode, the quality and lifecycle management software market is divided into cloud and on-premises. The cloud-based segment witnessed the largest revenue share in the quality and lifecycle management software market in 2021. Software that is hosted on the cloud includes cloud-based quality lifecycle management systems. Software of this kind can be accessed at any time and from any location. Software for managing the quality lifecycle in the cloud is simple to use and doesn't need to be set up or installed.

Enterprise Size Outlook

By Enterprise size, the quality and life management software market is classified into small and medium-sized enterprises and large enterprises. The SMEs segment garnered a significant revenue share in the quality and lifecycle management software market in 2021. This segment's rise can be due to the demand for cost-effective, straightforward quality & lifecycle management solutions. The continued development of new capabilities to QMS results from the software's adaptability and versatility, which drive demand among significant enterprises. Globally, organizations use various technologies and systems to generate huge quantities of data.

Verticals Outlook

Based on the verticals, the quality and lifecycle management software market is bifurcated into aerospace & defense, automotive & transport, consumer goods & retail, healthcare & life science, industrial manufacturing, IT & telecom and other verticals. In 2021, the industrial manufacturing segment procured a promising growth rate in the quality and lifecycle management software market. Manufacturing requires quality and lifecycle management software to verify that the manufactured items meet the appropriate requirements. The software needs to monitor and track the entire production process, from raw materials to completed goods.

Quality and Lifecycle Management Software Market Report Coverage
Report Attribute Details
Market size value in 2021 USD 29 Billion
Market size forecast in 2028 USD 46.9 Billion
Base Year 2021
Historical Period 2018 to 2020
Forecast Period 2022 to 2028
Revenue Growth Rate CAGR of 7.3% from 2022 to 2028
Number of Pages 381
Number of Table 593
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling
Segments covered Component, Enterprise Size, Deployment Type, Vertical, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • Rising use of high-tech smart devices and electronics
  • Growing need for quality management
  • High cost to be spent initially

Regional Outlook

Region-wise, the quality and lifecycle management software market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region led the quality and lifecycle software market by generating maximum revenue share in 2021. The region is the leader in adopting numerous technologies of the next generation, including IoT, advanced telecommunication technologies, sophisticated analytics, Augmented Reality (AR), AI, and ML. Several organizations and industries are implementing QLM systems at various phases of product development to sustain in the market, raise productivity, and enhance the production process. As a result, the market is growing gradually and has the opportunity to expand further in the region.

Free Valuable Insights: Global Quality and Lifecycle Management Software Market size to reach USD 46.9 Billion by 2028

KBV Cardinal Matrix - Quality and Lifecycle Management Software Market Competition Analysis

Quality and Lifecycle Management Software Market - Competitive Landscape and Trends by Forecast 2028

The major strategies followed by the market participants are Partnerships and Acquisitions. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation are the forerunners in the Quality and Lifecycle Management Software Market. Companies such as Siemens AG, Dassault Systemes SE and IBM Corporation are some of the key innovators in Quality and Lifecycle Management Software Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, SAP SE, Siemens AG, Dassault Systemes SE, Autodesk, Inc., PTC, Inc., Aras Corporation, SAS Institute, Inc., and Parasoft Corporation.

Strategies Deployed in Quality and Lifecycle Management Software Market

» Partnerships, Collaborations and Agreements:

  • Feb-2023: Microsoft partnered with SignDesk, a provider of digital documentation & contract lifecycle solutions. This partnership would strengthen businesses to leverage the Microsoft Azure capabilities that are integrated with the SignDesk portfolio across the solution stack.
  • Oct-2022: Dassault Systèmes signed a partnership with Sanofi, a global healthcare company. Through this partnership, Dassault's 3DEXPERIENCE platform models would allow Sanofi to generate virtual twins to propel the reliability, agility, and performance of Sanofi’s new facilities. Moreover, the 3DEXPERIENCE platform would help Sanofi to address the complexity of product lifecycle management in a regulated environment.
  • Sep-2022: Aras came into partnership with AVEVA, a company engaged providing in industrial software, propelling digital transformation and sustainability. Following this partnership, both companies would aim to offer industrial “Asset Lifecycle Management” solutions.
  • Jul-2022: Siemens Digital Industries Software, a division of Siemens AG, partnered with TeamViewer, a provider of remote connectivity and workplace digitalization solutions. Through this partnership, companies would aim to bring the strength of TeamViewer's enterprise AR platform Frontline to Siemens' Teamcenter® software, a Product Lifecycle Management solution from the Siemens Xcelerator offering. Additionally, this partnership enables Siemens' global customers to enhance their product development process based on better experiences with communicable, 3D content connected to the digital twin of a product.
  • Feb-2022: Dassault Systèmes came into partnership with Cadence Design Systems, Inc., a company engaged in electronic systems design, with expertise in computational software. Under this partnership, both companies would aim to deliver enterprise customers in various vertical markets consisting of industrial equipment, defense, and healthcare, with combined, advanced solutions for the growth of high-performance electronic systems.
  • Oct-2021: Dassault Systemes partnered with Synopsys, Inc., an American electronic design automation company. Under this partnership, Synopsys optical design solutions would be integrated into the Dassault Systèmes 3DEXPERIENCE platform to support the development of safer, smarter vehicles.
  • Oct-2021: SAS teamed up with Red Hat, the provider of enterprise open-source software solutions. Under this Collaboration, SAS Viya, a cloud-native AI, analytic, and data management platform, would be available on Red Hat OpenShift. With this collaboration, businesses would gain real intelligence so that they would better respond to transformation and challenges in growing business environments.
  • Apr-2021: SAP joined hands with Siemens Digital Industries Software, a division of Siemens AG. This partnership would allow both companies to provide late solutions for the Service and Asset Lifecycle. Moreover, with starting focus on discrete manufacturing, Siemens would deliver the SAP Asset Strategy and Performance Management application, the SAP Enterprise Portfolio and Project Management package, and SAP® Asset Intelligence Network.

» Product Launches and Product Expansions:

  • May-2022: Autodesk, Inc. announced the launch of Autodesk Build, a complete field and project management software, and Autodesk Takeoff, which Empowers estimators to perform 2D and 3D quantification workflows, across Japan. The products would broaden Autodesk Construction Cloud, a powerful cloud-based construction management solution. Additionally, the launch would strengthen construction companies to achieve improved business outcomes.
  • Feb-2022: Dassault Systèmes unveiled Sustainable Innovation Intelligence, a life cycle assessment solution. The product allows companies to reduce the environmental impacts of materials, processes, and products.
  • Jul-2021: Autodesk, Inc. introduced Autodesk Tandem, a cloud-based digital twin platform. The product allows a project to start digital, stay digital and deliver digital, changing rich data into business intelligence.

» Acquisition and Mergers:

  • Jan-2023: PTC completed the acquisition of ServiceMax, a Service Execution Management company. This acquisition would include critical field service management capabilities to PTC's closed-loop product lifecycle management and digital thread portfolio.
  • May-2022: PTC acquired Intland Software, an Application Lifecycle Management (ALM) platform. This acquisition would expand and deepen PTC’s Application Lifecycle Management suite across safety-critical and regulated industries, consisting of consumer electronics, automotive, aerospace and defense, and life sciences.
  • Dec-2021: Autodesk, Inc. acquired ProEst, a cloud-based estimating solution. Following this acquisition, Autodesk would combine ProEst with Autodesk Construction Cloud, a complete construction management platform that connects data, workflows, and teams. Also, the acquisition would strengthen Autodesk Construction Cloud's preconstruction suite and support construction teams to manage all their key construction and preconstruction workflows on one platform.
  • Apr-2021: Autodesk, Inc. took over Upchain, a company engaged in offering cloud-based product lifecycle management and product data management solutions. This acquisition offers Autodesk to provide more value for suppliers, engineers, manufacturers, and other product stakeholders by enhancing collaboration across the decentralized product value chain, regardless of the CAD system.
  • Jan-2021: PTC took over Arena Solutions, a company engaged in software as a service (SaaS) product lifecycle management (PLM) solutions. Under this acquisition, Arena Solutions integrated with Onshape, a subsidiary of PTC, would deliver a powerful pure PLM and SaaS CAD solution that would place to catch the quickly developing shift toward SaaS for realization and product design.
  • Jan-2021: SAS completed the acquisition of Boemska, a company specializing in low-code/no-code application deployment. This acquisition would enhance SAS Viya, a cloud-native AI, analytic, and data management platform, with a new set of capabilities that accelerates SAS' objective of facilitating the whole analytics life cycle and supporting customer migration to the cloud.

Scope of the Study

Market Segments Covered in the Report:

By Component

  • Solution
    • Quality Management
    • Document & Product Data Management
    • Bill of Material (BOM) Management
    • Governance & Compliance Management
    • Cost Management
    • Change Management
    • Lifecycle Analytics Management
    • Others
  • Services

By Enterprise Size

  • Large Enterprises
  • Small & Medium Enterprises

By Deployment Type

  • Cloud
  • On-premise

By Vertical

  • Automotive & Transport
  • Industrial Manufacturing
  • Consumer Goods & Retail
  • Healthcare & Lifesciences
  • Aerospace & Defense
  • IT & Telecom
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • IBM Corporation
  • Microsoft Corporation
  • SAP SE
  • Siemens AG
  • Dassault Systemes SE
  • Autodesk, Inc.
  • PTC, Inc.
  • Aras Corporation
  • SAS Institute, Inc.
  • Parasoft Corporation
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Frequently Asked Questions About This Report

The global Quality and Lifecycle Management Software Market size is expected to reach $46.9 billion by 2028.

Growing need for quality management are driving the market in coming years, however, High cost to be spent initially restraints the growth of the market.

IBM Corporation, Microsoft Corporation, SAP SE, Siemens AG, Dassault Systemes SE, Autodesk, Inc., PTC, Inc., Aras Corporation, SAS Institute, Inc., and Parasoft Corporation.

The Large Enterprises segment acquired maximum revenue share in the Global Quality and Lifecycle Management Software Market by Enterprise Size in 2021 thereby, achieving a market value of $32.5 billion by 2028.

The Automotive & Transport segment is leading the Global Quality and Lifecycle Management Software Market by Vertical in 2021 thereby, achieving a market value of $12.4 billion by 2028.

The North America market dominated the Global Quality and Lifecycle Management Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $16.7 billion by 2028.



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