Portland, OR , Nov. 16, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global inspection management software market generated $7.1 billion in 2021, and is projected to reach $23.0 billion by 2031, growing at a CAGR of 12.8% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $7.1 billion |
| Market Size in 2031 | $23.0 billion |
| CAGR | 12.8% |
| No. of Pages in Report | 227 |
| Segments Covered | Component, deployment mode, organization size, industry vertical, and region. |
| Drivers | Rise in the adoption of the business automation process for seamless inspection |
| Surge in demand for streamlining inspection tasks | |
| Opportunities | Presence of regulatory standards for product safety and environmental protection |
| Rapid technological advancements | |
| Restrains | High cost of innovation and budget constraints |
COVID-19 Scenario:
- The outbreak of the COVID-19 had a negative impact on the growth of the global inspection management software market, owing to the presence of lockdowns as imposed by the governments of numerous countries around the world.
- Lockdowns resulted in temporary shutdown of various businesses and reduced transportation which adversely impacted the market growth.
- In addition, supple chain challenges among companies and shortage of skilled workforce due to the prevalence of strict social distancing restrictions from the government further aggravated the impact on the market.
- The inspection management software industry is likely to prosper in the upcoming years after the recovery from the COVID-19 pandemic scenario.
- Moreover, many companies have incorporated new strategies such as business expansion and new product launches to support end-users in their work of seamless inspection in these crucial times.
The report offers detailed segmentation of the global inspection management software market based on component, deployment mode, organization size, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on component, the solution segment held the dominating market share in 2021, holding more than two-thirds of the global inspection management software market, and is expected to maintain its leadership status during the forecast period. The services segment, on the other hand, is expected to cite the fastest CAGR of 14.6% during the forecast period.
Based on deployment mode, the on-premise segment held the dominating market share in 2021, holding nearly around three-fifths of the global inspection management software market. The cloud segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CGAR of 15.5% during the forecast period.
Based on organization size, the large enterprises segment held the dominating market share in 2021, holding nearly two-thirds of the global inspection management software market, and is expected to maintain its leadership status during the forecast period. The small and medium enterprises segment, on the other hand, is expected to cite the fastest CAGR of 14.6% during the forecast period.
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Based on region, the market across North America held the largest market share in 2021, holding more than one-third of the global inspection management software market. The Asia-Pacific region, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 16.4% during the forecast period.
The key players analyzed in the global inspection management software market report include Autodesk, Inc., Dassault Systems, Hexagon, MetricStream Inc., Oracle Corporation, Penta Technologies, Inc., PTC, SAP SE, Siemens AG, and Wolters Kluwer NV.
The report analyzes these key players in the global inspection management software market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
