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Quality Management Software Market is growing at a CAGR of 9.7% till 2028

Arif Ahmad
Quality Management Software Market is growing at a CAGR of 9.7% till 2028

Over the forecasted period (2021-2028), the Quality Management Software Market was projected to reach around USD 8,250 million in 2020, expanding at a CAGR of 9.7%

The factors driving growth of the Quality Management Software Market includes rising focus of companies on streamlining business processes, increasing demand for compliance-based products and services from healthcare industry, growing importance of quality assurance and customer centric production and improvements in the living standards. Quality management software platforms enable companies to track quality of products throughout the production process, minimizes wastage, and helps in organizing and centralizing quality control practices, are some of the features pushing the Global Quality Management Software Market. Moreover, technological advancements in Artificial Intelligence (AI), Big Data Analytics and Internet of Things (IoT), growing awareness about quality measurements, rise in the launch of innovative products and rapid urbanization are enhancing the Quality Management Software Market size. Moreover, the rising investments by key players on R&D activities, strategic mergers and, increasing disposable incomes and growing population growth, are boosting towards the market growth.

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However, growth of the Quality Management Software Market is hindered attributed to its high installation cost.

The leading players operating in the Quality Management Software Market includes Microsoft Corporation, Oracle Corporation, SAP SE, Honeywell International Inc., Hewlett Packard Enterprise Development LP, Siemens AG, Rockwell Automation, Inc., Cority Software, MetricStream, and Dell Inc., among others.

Based on Deployment, the Cloud segment is predicted to grow at a robust CAGR over the forecast period

Cloud based solutions are cost-effective, enables easy back up of documents, enhances visibility and control and helps in meeting regulatory compliance, are some of the features pushing the segment’s growth.

Based on End-Use Industry, the Manufacturing segment is projected to expand at a significant CAGR over the forecast period

Quality management systems improves visibility of manufacturing processes for the employees through cross-functional teams, creates processes, documents, and enhance business operations, are some of the features propelling the segment’s growth.

Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period

Growing demand for quality management software across end-use industries such as IT, Retail, Pharmaceutical and Manufacturing, rising adoption of advanced technologies by companies, rapid urbanization and high population growth rates, are some of the significant factors expanding the market development in Asia-Pacific region.

Key Development

  • In 2020, Honeywell completed the acquisition of privately held Sparta Systems, Inc., one of the leading providers of enterprise quality management software (QMS), including a next-generation SaaS platform. The acquisition is expected to strengthen Honeywell’s leadership in industrial automation, digital transformation solutions, and enterprise performance management software.

Market Segmentation

Segmentation by Solution

  • Document Control
  • Non-Conformances/Corrective & Preventative
  • Complaint Handling
  • Employee Training
  • Audit Management
  • Supplier Quality Management
  • Calibration Management
  • Change Management
  • Others

Segmentation by Deployment

  • Cloud
  • On-Premise

Segmentation by End-Use Industry

  • IT & Telecom
  • Transportation & Logistics
  • Consumer Goods & Retail
  • Defence & Aerospace
  • Manufacturing
  • Healthcare
  • Others

Segmentation by Region

  • Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
  • North America
  • United States of America
  • Canada
  • Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
  • RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact

Company Name: GMI RESEARCH

Contact Person: Sarah Nash

Email: [email protected]

Phone: Europe – +353 1 442 8820; US – +1 860 881 2270

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Website: https://www.gmiresearch.com/

Arif Ahmad
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