Quality Management Software Market Overview:
The global quality management software market can touch a valuation of USD 12 billion by 2023, suggests Market Research Future (MRFR) in its new report. MRFR also says that the market is showing signs of achieving a growth rate of 12.67% during the forecast period (2017-2023).
Several organizations around the world are reaping the benefits of quality management methodologies, like Six Sigma and ISO standards, with the aim of improving productivity, customer satisfaction, and efficiency. Such methodologies involve the employees performing certain required tasks that adhere to structured processes. These processes include changes in work habits that are generally disruptive in nature. Similarly, integrated IT tools are used for streamlining quality management tasks, in addition to reducing user-resistance, which helps organizations in achieving their goals but with lower risk.
While several industries are making use of Quality Management Software Market solutions, the market is inundated with few challenges that need to be sorted by vendors. Some of these challenges include lack of collaboration, misalignment with the latest trends and technologies as well as integration with other systems. While companies are striving to address these issues, widespread deployment of cloud-based software has stimulated the adoption of QMS by a number of new end users.
Introduction of IATF 16949, AS9100 Rev.D and ISO 9001 is also anticipated to take the market to greater heights since the management teams across organizations are striving to align strategic objectives with quality management. Moreover, quality processes, as well as products, are becoming important when it comes to marketing and elevating customer satisfaction. Therefore, quality process management automation, supplier quality assurance, and compliance management are soon expected to become the main focus for QMS users in the market.
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Significant players shaping the worldwide market for quality management software are Arena Solutions, Inc. (U.S.), AssurX, Inc.(U.S.), MasterControl, Inc. (U.S.), MetricStream, Inc. (U.S.), Pilgrim Quality Solutions, Inc. (U.S.), Hewlett Packard Enterprise (U.S.), Intelex Technologies, Inc.(Canada), QUMAS (U.S.), General Electric (U.S.), Autodesk Inc. (U.S.), Plex Systems, Inc. (U.S.), IBM Corporation (U.S.), Sparta Systems, Inc. (U.S.), IQS, Inc. (U.S.), to mention a few.
Quality Management Software Market Segmentation:
The global market for quality management software has been segmented depending on solution type, deployment, organization type, and industry.
- Considering the solution type, the segments in the report include complaint management, audit management, CAPA management, training management, change control, document management, EH&S Management, product registration, supplier quality management, and others.
- Quality management software market, deployment-wise, caters to on-cloud, and on-premise.
- The various sizes of organizations that deploy quality management software are small and medium enterprises (SME) and large enterprises.
- The quality management software is used by industries like retail, aerospace, transportation, healthcare, oil and gas, IT & telecommunications, manufacturing and others.
Quality Management Software Market Regional Outlook:
The Middle East and Africa (MEA) along with Europe, Asia Pacific (APAC) and North America forms the worldwide market for quality management software.
North America has surfaced as the top market for quality management software, backed by the high adoption of quality management tools across various industries. Also, surge in cloud-based applications combined with increasing adoption of international standards also benefits the regional market.
Europe can register a moderate growth rate in the coming years, thanks to the high adoption of QMS in the manufacturing sector. Additionally, mounting regulatory pressure along with reforms in EU data protection rules for data in enterprises leave a profound impact on the market. In various countries in the region, SaaS providers are using solutions that are cloud-based, which should be in compliance with the European Data Protection Directive 1995 as well as General Data Protection Regulation (GDPR).
APAC is on its way to expand at a fast rate during the estimated period, on account of the increasing efficiency of businesses and the rising focus on catering to customer demands. Developing nations like India, Taiwan and China are the most lucrative markets for quality management software in the region.
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
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List of Tables
Table 1 Global Quality Management Software Market: By Region, 2017-2023
Table 2 North America Quality Management Software Market: By Country, 2017-2023
Table 3 Europe Quality Management Software Market: By Country, 2017-2023
Table 4 Asia Pacific Quality Management Software Market: By Country, 2017-2023
Table 5 The Middle East & Africa Quality Management Software Market: By Country, 2017-2023
List of Figures
Figure 1 Global Quality Management Software Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Five Forces Analysis of Global Quality Management Software Market
Figure 4 Value Chain of Global Quality Management Software Market
Figure 5 Share of Global Quality Management Software Market In 2017, By Country (In %)
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