The Global Quality Management Software Market size is expected to reach $16.9 billion by 2027, rising at a market growth of 9.5% CAGR during the forecast period. Quality Management Software helps companies to organize and control quality issues related to the customer satisfaction, performance, and competitiveness of a company. This management is possible by monitoring & regulating the processes and products for constant quality assurance, minimizing the quality gap between the manufacturing practices & end-product expectations, tracing of deviations, and make sure about the compliances. In addition, the quality management software market is estimated to register a swift growth due to the growing improvements in the capabilities of the solutions by using artificial intelligence (AI) and machine learning (ML) tools.
The market of quality management software is witnessing an increasing adoption around the world because it helps in streamlining various business processes. Quality management software provides several solutions, which helps companies to gain operational efficiency that further minimizes the overall costs. Additionally, this software also enables companies to fulfil the norms and regulations, which is estimated to augment the growth of the market. Though, one of the barriers to the growth of the global quality management software market is the high installation’s cost attached to the quality management software.
The global COVID-19 pandemic has adversely affected the transport & logistics and manufacturing sectors. The temporary shutdown of production units and ban on the trading of several non-essential goods & services is projected to negatively impact the quality management software market in the short term. Though, people around the world have shifted to the internet for doing their online shopping, which are leading to the swift growth of the business-to-consumer markets globally.
The quantities of goods that are shipped have augmented during this pandemic period, with the advancements in the profiles of the goods. Due to this, logistics enterprises have begun fast-tracking their quality, development, safety management standards, and various growth strategies with considerable investments in assets, e-commerce, and people. All these kinds of developments would bolster the growth of the market in the transport & logistics sector during the forecast period.
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. Calibration management solution delivers important connections between the related maintenance tasks and the quality processes for restricted life science & high-tech surroundings. These solutions assist in boosting the lifecycle of machinery and saving the revenue of a company by minimizing the number of recalled products. The calibration management solutions of the QMS enable companies to manage instrument calibration processes and related documentation to improve productivity and efficiency.
Based on Enterprise Size, the market is segmented into Large Enterprise and Small & Medium Enterprise (SME). On the basis of enterprise size, the large enterprise segment garnered the highest revenue share in 2020. It is due to the high adoption of QMS by large enterprises since it reduces the overall expenses of the firm. There are several QMS providers that have a variety of software offerings for large enterprises and small & medium enterprises. These offerings are specially customized to support the needs of the customers and, thus, play a crucial role in the selection process.
Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on deployment type, the on-premise segment acquired the highest market share in 2020. There are several big companies that are changing from pen & paper-based systems to more automatic systems due to the increasing digitalization that has fueled the demand for on-premise QMS. Many companies are adopting the on-premise QMS because it is safer and enables easy tailored software according to the customer’s business needs. Thus, it is majorly adopted by companies that are demanding high data security.
Based on End User, the market is segmented into Manufacturing, Telecom & IT, Consumer Goods & Retail, Healthcare, Transportation & Logistics, Aerospace & Defense and Others. By end-use, the manufacturing segment procured the maximum market share in 2020. This growth is attributed to the strict regulations along with the complicated business processes and integrated business systems. QMS solutions help the manufacturing sector to improve the quality of their product via regular advancements to prevent or respond rapidly to all the situations like product recalls and streamline certification compliance.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 8.2 Billion |
| Market size forecast in 2027 | USD 16.9 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 9.5% from 2021 to 2027 |
| Number of Pages | 334 |
| Number of Tables | 514 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling, Competitive Landscape |
| Segments covered | Solution Type, Enterprise Size, Deployment Type, End User, 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 |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Region-wise, North America emerged as a leading region in the quality management software market in 2020. In 2010, the Patient Protection and Accountable Care Act (PPACA) was passed in North America to offer quality healthcare offerings and mandates conformity with quality standards.
Free Valuable Insights: Global Quality Management Software Market size to reach USD 16.9 Billion by 2027
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the major forerunner in the Quality Management Software Market. Companies such as PTC, Inc., Honeywell International, Inc., Plex Systems, Inc., and Cority Software, Inc. are some of the key innovators in the market.
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.
By Solution Type
By Enterprise Size
By Deployment Type
By End-User
By Geography
The quality management software market size is projected to reach USD 16.9 billion by 2027.
The growing requirement for standardization to improve and control various business processes are driving the market in coming years, however, Hindrance in the production process have limited the growth of the market.
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.
By Solution, the complaint handling segment dominated the market with the largest share in revenue in 2020.
The cloud deployment segment would showcase the fastest growth rate during the forecast period.
The North America market dominated the Global Quality Management Software Market by Region 2020.
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