Quality Management Software Market Highlights:
Quality Management Software is a collective of business and IT architecture with data models that offer cross functional collaboration. QMS aids in managing business processes across the value chain for compliance of quality. The software boasts a number of functionalities like calibration management, risk management, compliance management, compliant handling, audit management, and many more. It helps in attaining real-time visibility of quality metrics in manufacturing, one which will be helpful for the estimation of quality for internal purposes.
The Quality Management Software Markethelps in managing cross functional teams like manufacturing, product design, and suppliers. Advancing developments in IT architecture has paved the way for enterprises and organizations to adapt QMS, thereby enhancing the operational efficiency. The global quality management market is expected to grow in the upcoming years as per the projected report released by Market Research Future (MRFR).
The rising awareness among organizations in producing quality services and products and rise in the regulations for quality constraints across numerous industries are anticipated to be key factors fueling the demand for the market. In the healthcare sector, the software is gaining increasing traction due to the expanding population and rising pricings associated with the industry. The sector adopted this technology to enhance the satisfaction level of the patients and the service efficiency. QMS helps in tracking the progress of patients’ progress and their level of satisfaction, one which evolves with time.
The process of monitoring the health of a patient involves both subjective and objective means, which are highly essential for improving their services. Aside from the healthcare sector, the retail industry too is adopting this technology to meet the satisfaction level of the customers. The ameliorating supply chain and the improved quality of goods and services are the major outcomes that QMS has brought-forward in the retail industry. However, the high deployment cost linked with the adoption of QMS can prove to be a major hindrance to the growth of the global quality management software market.
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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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Intended Audience:
- Software developers
- Testing
- Research Organizations
- Cloud service providers
- Software vendors
- IT providers
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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