Pune, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Quality Management Software Market Size Analysis:
“The SNS Insider report indicates that the Quality Management Software Market was valued at USD 9.6 billion in 2023 and is expected to grow to USD 24.0 billion by 2032, reflecting a compound annual growth rate (CAGR) of 10.70% over the forecast period from 2024 to 2032.”
One of the critical drivers of the Quality Management Software market is the increased demand for reliable and effective quality management systems in a variety of industries. Companies are striving toward better operational proficiency, maintaining quality benchmarks, and enhancing customer contentment. In particular, the industry growth has been facilitated by the need for better and more integrated solutions. The demand for quality management software that can provide real-time data, collaborative work, and automated quality process is on the rise. In addition, the adoption of QMS is being fueled by improved cloud technology. The manufacturers chose to invest in product quality software provided in cloud form as it is more scalable, flexible, and cost-effective than on-premises platforms.
Furthermore, technological advances including the use of data mining and analytics, artificial intelligence, and machine learning are pushing the boundaries of quality management to predictive analytics and real-time quality control. A recent survey indicated that 68 % of companies saw substantial improvements in operational efficiency and compliance following the adoption of advanced QMS. The research also indicates that the demand for QMS implemention is high in a variety of sectors, including manufacturing, healthcare, pharmaceuticals, and automotive. The manufacturing sector has experienced significant growth due to an increased focus on process optimizing and quality assurance. Furthermore, healthcare units are increasingly interested in the implementation of QMS to meet industry regulations and ensure patient safety.
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Major Players Analysis Listed in this Report are:
- SAP - (SAP Quality Management, SAP Integrated Business Planning)
- Oracle - (Oracle Quality Management Cloud, Oracle Manufacturing Cloud)
- Siemens - (Siemens Teamcenter Quality, Siemens Opcenter Quality)
- IBM - (IBM Watson Quality, IBM Maximo Asset Management)
- Medidata Solutions - (Medidata Quality Management, Medidata Rave)
- MasterControl - (MasterControl Quality Management System, MasterControl Document Control)
- ETQ - (ETQ Reliance, ETQ Quality Management)
- Sparta Systems - (TrackWise, Quality Management System)
- Intelex - (Intelex Quality Management Software, Intelex Document Control)
- Gensuite - (Gensuite QMS, Gensuite Audit Management)
- SOPHIA - (SOPHIA Quality Management, SOPHIA Compliance Management)
- Qualio - (Qualio Quality Management System, Qualio Document Management)
- Arena Solutions - (Arena PLM, Arena Quality Management)
- Plex - (Plex Manufacturing Cloud, Plex Quality Management)
- ProShop - (ProShop ERP, ProShop Quality Management)
- QAD - (QAD Cloud ERP, QAD Quality Management)
- SQC - (SQC Quality Control Software, SQC Compliance Solutions)
- Veeva Systems - (Veeva Vault Quality, Veeva Vault QMS)
- iSixSigma - (iSixSigma Quality Management Software, iSixSigma Training Services)
- Qualityze - (Qualityze QMS, Qualityze CAPA Management)
Quality Management Software Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 9.6 billion |
| Market Size by 2032 | USD 24.0 billion |
| CAGR | CAGR of 10.70 % From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | •The increasing reliance on cloud-based QMS raises concerns about data privacy, breaches, and compliance with stringent data protection regulations. •Employees and organizations may resist adopting new technologies, preferring familiar manual or legacy systems. •Standard QMS solutions may not fully meet industry-specific requirements, leading to dissatisfaction or the need for costly customization. |
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Segmentation Analysis
By Solution
The complaint-handling segment held the largest revenue share, accounted for 17.6% in 2023. Moreover, a strong CAGR of 11.6% will be experienced by this part of the market over the forecast period. Every organization has to deal with customer complaints, and managing this area properly allows businesses to meet customers’ needs effectively. Traditional tools and techniques for complaint handling include a range of instruments that can help businesses to resolve issues quickly. Effective responses to people’s claims contribute to the overall success over the long-term, although current tendencies in consumer behavior and purchases require companies and firms to pay more attention towards customers’ satisfaction and keep them engaged. As a result, complaint management should be strong and include a range of aspects that can address any unique or complex request, solve a problem, and guarantee a positive experience.
By End-Use
The manufacturing and heavy industry segment held the largest market share at 19.7% in 2023. The emergence of smart manufacturing and the incorporation of Information and Communication Technology (ICT) across all facets of manufacturing are expected to influence the industry significantly in the coming years. Key technologies such as industrial robotics, data analytics, 3D printing, and machine learning are projected to propel growth in this segment. Moreover, increasing awareness among manufacturers about the benefits of Quality Management Software (QMS) in reducing downtimes and minimizing asset failure rates is anticipated to further enhance the segment during the forecast period.
The healthcare segment is expected to experience the highest CAGR of over 13.7% throughout the projection period. Recent significant shifts in the healthcare landscape have driven pharmaceutical companies to improve their internal efficiency to remain competitive. QMS solutions play a crucial role in helping these companies enhance the quality and availability of medicines through effective monitoring controls. In the healthcare sector, QMS solutions contribute to overall system quality by prioritizing product excellence. They also empower pharmaceutical companies to produce high-quality products, manage supplier relationships effectively, support data integrity, and ensure compliance with regulatory standards.
Quality Management Software Market Segmentation:
By Solution
- Document Control
- Non-conformances/Corrective & Preventative
- Complaint Handling
- Employee Training
- Quality Inspections (PPAP & FAI)
- Audit Management
- Supplier Quality Management
- Calibration Management
- Change Management
- Mobile Incidents and Event Reporting
By Deployment
- Cloud
- On-premise
By Enterprise Size
- Small & Medium Enterprise (SME)
- Large Enterprise
By End-Use
- IT & Telecom
- Life Sciences
- Transportation & Logistics
- Consumer Goods & Retail
- Food & Beverage
- Defense & Aerospace
- Manufacturing & Heavy Industry
- Utilities
- Government
- Healthcare
- Others
Regional Landscape
North America held the largest market share, surpassing 41.3 % in 2023, driven by strong demand for compliance-based products and services from medical and hospital associations in the region. Quality Management Software (QMS) is employed in various healthcare programs and organizations in the U.S., including home care agencies, nursing homes, and ambulatory care providers. Furthermore, many quality management software providers are introducing new products, which is boosting market demand in this sector.
In the U.K., the Quality Management Software market represented 16.3% of the revenue share in the European market in 2022. Sectors such as food and manufacturing are increasingly implementing quality management software to ensure the safety and quality of their products.
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Recent Developments
In April 2023, Greenlight Guru, a provider of cloud-based software solutions for MedTech companies, announced the launch of its Export API. This new feature allows customers to export data from the QMS platform to third-party software, including CRM, ERP, and business intelligence solutions, thereby enhancing user efficiency.
In April 2023, Qualityze, a quality management software provider, introduced Qualityze EQMS, a cloud-based solution tailored for the telecommunications industry. Built on Salesforce, Inc.’s cloud platform, this software helps telecommunications companies meet various quality objectives with improved security, reliability, and flexibility.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Quality Management Software (QMS) Market Segmentation, by Solution
8. Quality Management Software (QMS) Market Segmentation, by Deployment
9. Quality Management Software (QMS) Market Segmentation, by Enterprise Size
10. Quality Management Software (QMS) Market Segmentation, by End-Use
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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