Quality Management Software Market Highlights:
Quality management software (QMS) allows organizations to keep track of costs related to operational activities, helps in the determination of quality policy and implementation through quality planning and control. Implementing quality management software helps organizations in meeting the customer requirements, which benefits in increasing customers and meeting organization’s requirements. QMS helps in manufacturing products compliance with regulations creating a way for expanding customer base with low operational costs.
In the area of healthcare, quality management software is gaining momentum due to the increasing population and rising costs associated with healthcare. Healthcare adopted this technology to improve patient satisfaction and service. QMS helps in tracking patient’s progress and level of satisfaction which changes from time to time. The process of monitoring of patient health comprises of both objective and subjective means, which is helpful for improving their services. The retail industry is facing tremendous competition where customer satisfaction plays a major role. Improving supply chain, quality of goods & services are the major outcomes of QMS in retail. Sparta Systems, a provider of quality management software developed Trackwise9, which allows enterprises to take feedback from customers and help in analyzing the data and implement strategic ideas to increase customer base.
On the basis of solution type, the market for global Quality Management Software Marketis classified into audit management, complaint management, training management, CAPA management, document management and others. Audit management is a set of tools and techniques which helps in enabling whether the product meets the designed and specified criteria. It helps in organizing the workflow by simple collaboration process. Audit management involves the process of recruiting, training and running the auditing program. The audit management process comprises of internal auditing, external auditing and third-party auditing. The audit software can be accessed from anywhere irrespective of manufacturing plant which has increased the level of adoption among industries.
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Competitive Landscape:
The global quality management software market holds a number of important players, including MasterControl, Inc. (U.S.), IQS, Inc. (U.S.), Sparta Systems, Inc. (U.S.), General Electric (U.S.), SAP SE (Germany), MetricStream, Inc. (U.S.), Pilgrim Quality Solutions, Inc. (U.S.), AssurX, Inc.(U.S.), Intelex Technologies, Inc.(Canada), Plex Systems, Inc. (U.S.), QUMAS (U.S.), Autodesk Inc., (U.S.), Hewlett Packard Enterprise (U.S.), IBM Corporation (U.S.), Arena Solutions, Inc. (U.S.), among others.
March 26th, 2019, Sparta Systems, Inc., one of the pioneering providers of quality management software and services, announced in a release about the milestone its TrackWise Digital Cloud QMS platform has reached. The platform has acquired more than 100 life sciences companies towards its side.
Market Segmentation:
The global quality management software market segmentation is divided on the basis of 5 key dynamics, namely deployment, solution type, organization type, industry, and region.
- By solution type, the market includes CAPA management, audit management, EH&S Management, complaint management, training management, product registration, document management, supplier quality management, change control, and others.
- By deployment, the market is divided into two forms of deployment i.e., on-premise and on-cloud deployment.
- By organization size, the market comprises of small- and middle-sized enterprises and large enterprises.
- By end-user, the market includes healthcare, aerospace, IT & Telecommunications, transportation, retail, oil and gas, manufacturing, and others.
Regional Analysis:
The global quality management software market is geographically segmented across the following key regions: North America, Europe, Asia Pacific, and the Middle East and Africa.
Amongst the mentioned regions, the North American regional market leads the chart in terms of market share of quality management software. Herein, the surging adoption of quality management tools across various notable industries acts as a major factor in driving the growth of the regional market. The region is further expected to continue its dominance and grow in the forthcoming years of the forecast period as well. The increase in usage of cloud-based applications and the growing adoption of international standards are the major factors fuelling the growth of the market.
Following the North Americas, the European region holds the second-largest share of the global market. The region is projected to experience a period of moderate growth in the coming years. The high adoption rate of QMS in the manufacturing sector is a key factor driving the growth in this region. The Asia Pacific region is believed to experience rapid growth rate during the forecast period. The improving rate of business efficiency and organizations inclining their focus towards customer demands are major drivers of the region.
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Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued…
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