Overview and Scope
Quality management software (QMS) refers to a set of computer-based tools and applications designed to streamline and automate the processes involved in managing quality within an organization. This software encompasses a range of functionalities to ensure the products or services meet predefined quality standards, regulatory requirements, and customer expectations.
Sizing and Forecast
The quality management software market size has grown rapidly in recent years. It will grow from $10.32 billion in 2023 to $11.69 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to rising penetration of smart devices, the demand for quality management software industry, on-premise deployment of quality management software, increasing awareness among manufacturers, increasing number of enterprises.
The quality management software market size is expected to see rapid growth in the next few years. It will grow to $19.49 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to rising demand for streamlining and centralizing business processes, cloud-based digital quality management systems, increasing importance of quality assurance, the rapid rise of digitalization, increasing requirements for regulatory compliance. Major trends in the forecast period include increasing adoption of new technologies improvements in the capabilities of quality management software, integration of AI and ML technologies, introducing of new products, the software’s ongoing development of new features.
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Segmentation & Regional Insights
The quality management software market covered in this report is segmented –
1) By Solution: Document Control, Non-Conformances Or Corrective And Preventative, Complaint Handling, Employee Training, Audit Management, Supplier Quality Management, Calibration Management, Change Management, Other Solutions
2) By Deployment: Cloud, On-Premise
3) By Organization Size: Small And Medium Enterprise (SME), Large Enterprise
4) By End Use: Information Technology And Telecom, Transportation And Logistics, Consumer Goods And Retail, Defense And Aerospace, Manufacturing, Healthcare, Other End-Uses
North America was the largest region in the quality management software market in 2023. The regions covered in the quality management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing consumer awareness of product safety and quality is expected to drive the growth of the quality management software market going forward. Consumer awareness of product safety and quality represents the increasing recognition and understanding among consumers regarding the safety and quality standards of the products they purchase. The growing consumer awareness of product safety and quality is due to information accessibility, high-profile product recalls, consumer advocacy groups, and corporate transparency initiatives. Quality management software is critical in fostering consumer awareness of product safety and quality by ensuring regulatory compliance, promoting transparency, enabling rapid response to quality issues, supporting continuous improvement initiatives, and enhancing communication with consumers. For instance, according to a survey among 2,000 U.S. consumers about what they thought about customer and brand experience by Qualtrics, a US-based cloud-based survey platform, around 64% of consumers are more likely to choose a brand based on how they have treated their employees during the pandemic, while 55% are more likely to choose a brand that has implemented strong safety measures. Therefore, the growing consumer awareness of product safety and quality drives growth in the quality management software market.
Key Industry Players
Major companies operating in the quality management software market are Microsoft Corporation, Amazon Web Services Inc., Siemens AG, Hewlett-Packard Company, Cisco Systems Inc., Oracle Corporation, Broadcom Inc., Adobe Systems Inc., ServiceNow Inc., Dassault Systemes SE, Autodesk Inc., OpenText Corporation, Citrix Systems Inc., SAP SE, Atlassian Corporation Plc, Splunk Inc., IFS AB, Zendesk Inc., Zoho Corporation, Freshworks Inc., Arena Solutions Inc., Sparta Systems Inc., Intelex Technologies Inc., MasterControl Inc., Aras Corporation
The quality management software market report table of contents includes:
1. Executive Summary
2. Quality Management Software Market Characteristics
3. Quality Management Software Market Trends And Strategies
4. Quality Management Software Market – Macro Economic Scenario
5. Global Quality Management Software Market Size and Growth
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32. Global Quality Management Software Market Competitive Benchmarking
33. Global Quality Management Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Quality Management Software Market
35. Quality Management Software Market Future Outlook and Potential Analysis
36. Appendix
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