Quality Management Software Market: Cloud Segment Is Anticipated To Record The Highest CAGR From 2021 To 2028

 Quality Management Software Industry Overview

The global quality management software market size is estimated to reach USD 16.67 billion by 2028, registering a CAGR of 9.7% from 2021 to 2028, according to a new study by Grand View Research, Inc. The increasing advancements in functionalities of quality management software (QMS) solutions along with the increasing integration of artificial intelligence and machine learning tools are expected to boost the market growth over the forecast period.

 

The QMS market is also anticipated to witness significant growth owing to the rising demand for effective management of organizational processes and the need for meeting consumer expectations in a highly competitive market. In addition, the rapidly increasing technological advancements in the IT and telecom sector and growing automation of the transportation and logistics industry are also contributing to the market demand. QMS software offers various functionalities, including out-of-specification test results, handling of non-conformances, calibration, ensuring compliance as well as a centralized system that ensures connection to organizations’ ERP and CRM systems. All these functionalities, coupled with benefits such as reduction of operational costs and business process optimization, are estimated to propel the adoption of QMS across a wide range of industries.

Quality Management Software Market Segmentation

Grand View Research has segmented the global quality management software market based on solution, deployment, enterprise size, end use, and region:

Based on the Solution Insights, the market is segmented into Document Control, Non-conformances/Corrective & Preventative, Complaint Handling, Employee Training, Audit Management, Supplier Quality Management, Calibration Management, Change Management, and Others.

• The complaint handling segment held the largest market share of over 15% in 2020. Effective management of complaints helps in proactively meeting customer expectations and enhancing brand equity. Businesses are adopting standard complaint handling tools and processes to handle customer complaints more effectively and efficiently. These factors are expected to act as fundamental drivers for boosting segment growth.
• Calibration management solution provides essential connections between related maintenance tasks and additional quality processes for regulated life science and high-tech environments. Such solutions help in increasing the life of machinery and saving the company’s revenue by reducing the number of recalled products.

 

Based on the Deployment Insights, the market is segmented into On-premise, and Cloud.

• The on-premise segment held the largest market share of over 60% in 2020. Many large organizations are shifting from pen and paper-based systems to automated systems owing to the advent of digitalization, which has resulted in the increasing demand for on-premise QMS.
• The cloud segment is anticipated to emerge as the fastest-growing segment over the forecast period. Increased scalability and flexibility, security aspects, and control over the data center offered by the cloud technology are some of the prime factors anticipated to boost the cloud segment growth.

 

Based on the Enterprise Size Insights, the market is segmented into Small & Medium Enterprise (SME), and Large Enterprise.

• The large enterprise segment held the largest market share of over 60% in 2020. The reduction in expenses is the primary motivation behind the adoption of QMS among large enterprises. Many QMS vendors have different sets of software suites for large enterprises and small & medium enterprises.
• The mobility and flexibility offered by QMS are driving their demand among large enterprises, resulting in regular additions of new functionalities to the software. Organizations across the globe use a host of different software and systems and produce large volumes of data. With the ever-increasing data and growing demand for technologies such as artificial intelligence and machine learning, QMS solutions are anticipated to cater to the growing needs of organizations for increasing efficiency and productivity in their operations.

 

Based on the End-use Insights, the market is segmented into IT & Telecom, Transportation & Logistics, Consumer Goods & Retail, Defense & Aerospace, Manufacturing, Healthcare, and Others.

• The manufacturing segment held the largest market share of over 20% in 2020. This growth is attributed to the stringent regulations as well as the complex processes and integrated business systems. QMS solutions enable manufacturing industries to enhance quality through continuous improvements to prevent or respond quickly to situations such as product recalls and ensure certification compliance.
• QMS is increasingly gaining importance among companies to help meet critical objectives such as compliance with industry regulations, avoidance of potential product liability lawsuits, and customer retention. For instance, QMS helps telecom service providers to support their communication strategy by complying with the highest quality standards, including TL9000 requirements, in the telecommunications products and services.

 

Quality Management Software Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

Strategic mergers and acquisitions and partnerships are estimated to be the most effective ways for market players to gain quick access into emerging markets. For instance, in December 2020, Honeywell International Inc., a provider of industry-specific solutions for automotive and aerospace products, agreed to acquire Sparta Systems Inc. to expand its software and life science capabilities. Through this acquisition, the company aims to further strengthen its competencies in digital transformation solutions, industrial automation, and enterprise performance management software.

Furthermore, product differentiation and upgrades are anticipated to pave the way for the expansion of companies in the market. For instance, in August 2020, MasterControl, Inc. launched its new solution, MasterControl Manufacturing Excellence, to enhance manufacturing operations by driving efficiency and quality. The new solution would enable manufacturers to create dynamic connections among enterprise systems, processes, data sources, and people for a holistic view of production and quality data. Some prominent players in the global quality management software market include:

• Arena Solutions, Inc.
• Biovia Corp (Dassault Systemes SE)
• Cority Software Inc.
• Dassault Systemes SE
• Enablon (Wolters Kluwer N.V.)
• EtQ Management Consultants, Inc.
• Iqms, Inc.
• MasterControl, Inc.
• MetricStream, Inc.
• Microsoft Corporation
• Oracle Corporation
• Pilgrim Quality Solution, Inc.
• Plex Systems, Inc.
• QT10 Software
• SAP SE
• Siemens AG
• Sparta Systems Inc.
• Unipoint Software, Inc.
• Verse Solutions, Inc.

 

Order a free sample PDF of the Quality Management Software Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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