The global quality management software market size was valued at USD 8.22 billion in 2020 and is projected to USD 16.56 billion by 2028, expanding at a CAGR of 9.5% during the forecast period, 2021–2028. The growth of the market is attributed to the customer-centric production becoming significantly important, as regular changes in standards and regulations that need recurring compliance.
Quality management software (QMS) is defined as a system for accomplishing quality policies and objectives that enhance the effective management of documents procedure, processes, and responsibilities. QMS aids in providing the direction and process of co-ordination of various organizational activities in order to meet regulatory and customer requirements. Organizations need to comply with ISO 14001, ISO 9001, and other international standards in order to conduct their operations across the globe, as it allows them to meet competitive pricing, customer needs, market demands, and legislative requirements.
The COVID-19 pandemic outbreak has had significant influence on the logistics, transport, and manufacturing industries. In the short term, the suspension of trading & production of numerous commodities and services is projected to have negative impact on the QMS market.
Market Trends, Drivers, Restraints, and Opportunities
- Rise in online shopping & business-to-customer market across the globe is expected to boost the market in logistic & transport domain during the forecast period.
- Increase in investment and proactive assessment by businesses across the globe to ensure quality standards of business operations is anticipated to fuel the growth of the market.
- Advancement in technologies and integration of tools such as big data, analytics, and cloud computing to enhance the existing potential of QMS is projected to drive the market growth.
- QMS services requires professionalism and are expensive. These are key challenges likely to hinder the market growth in the coming years.
- Strict adherence to quality management standards and international technical specifications like ISO 9001, AS9100, and Rev.D are expected to offer potential growth opportunities for the market.
Scope of Quality Management Software Market Report
The report on the global quality management software market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Quality Management Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Enterprise Sizes (Large Enterprise and Small & Medium Enterprise), Deployments (On-premise and Cloud-based), Solution Types (Change Management, Supplier Quality Management, Document Control, Calibration Management, Non-conformances/Corrective & Preventative, Complaint Handling, Employee Training, Audit Management, and Others), and End-users (Manufacturing, Consumer Goods & Retail, IT & Telecom, Defense & Aerospace, Transportation & Logistics, Healthcare, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Plex Systems, Inc.; Unipoint Software, Inc.; Siemens AG; EtQ Management Consultants, Inc.; Dassault Systemes SE; Arena Solutions, Inc.; Biovia Corp. (Dassault Systemes SE); Cority Software Inc.; Enablon (Wolters Kluwer N.V.); Iqms, Inc.; MasterControl, Inc.; MetricStream, Inc.; Microsoft Corp.; Oracle Corp.; Pilgrim Quality Solution, Inc.; QT10 Software; SAP SE; Sparta Systems Inc.; and Verse Solutions, Inc.
Quality Management Software Market Segment Insight
Large enterprise segment to grow at a rapid pace
Based on enterprise sizes, the global quality management software market is divided into large and small & medium enterprise. The large enterprise segment is expected to grow at a rapid pace during the forecast period as QMS helps in reduction in different expenses related to large enterprises. Several QMS manufacturers are offering different software solutions for small & medium and large enterprises. These suites are customized to suit the particular needs of the clients, thus, playing a significant role in the segment growth.
On-premise segment to witness robust market share
On the basis of deployments, the market is bifurcated into cloud-based and on-premise. The on-premise segment is projected to witness robust market during the forecast period. The segment growth is attributed to rise of digitization and shifting focus from pen & paper-based methods to automated processes, which in turn, increasing demand for on-premise QMS. On the other hand, the cloud-based segment is anticipated to register a considerable CAGR during the projected timeline. Availability of advanced cloud technology having excellent security features, scalability & flexibility, and data center control are key reasons expected to drive the segment growth.
Complaint handling segment to account for major market share
Based on solution types, the global quality management software market is segmented into change management, supplier quality management, document control, calibration management, non-conformances/corrective & preventative, complaint handling, employee training, audit management, and others.
The complaint handling segment accounted for major market share in 2020 and is projected to witness a considerable CAGR during the forecast period. Effective complaint handling assists in understanding client expectations and boosting brand equity, which prove to be key drivers of the segment. To address customer complaints more efficiently & effectively, businesses are implementing standard complaint handling tools and processes. On the other hand, the calibration management segment is expected to register substantial growth owing to regulated life science and high-tech environments as it provides essential relationships between relevant maintenance duties and additional quality procedures.
Manufacturing segment to expand at a considerable CAGR
On the basis of end-users, the market is segregated into manufacturing, consumer goods & retail, IT & telecom, defense & aerospace, transportation & logistics, healthcare, and others. The manufacturing segment is anticipated to expand at a considerable CAGR during the forecast period owing to the stringent laws along with the complicated processes and linked business systems. However, IT & telecom segment is expected to hold large market share during the forecast period as QMS enables telecom service providers to support their communication strategy by ensuring that their products and services meet the highest quality standards, including the TL9000 requirements.
North America to constitute a key market share
In terms of regions, the global quality management software market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the high demand for quality healthcare facilities, implemented by Patient Protection and Accountable Act, 2010. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period as the increased awareness of quality and norms among the emerging economies in the region.
The global quality management software market has been segmented on the basis of
- Large Enterprise
- Small & Medium Enterprise
- Change Management
- Supplier Quality Management
- Document Control
- Calibration Management
- Non-Conformances/Corrective & Preventative
- Complaint Handling
- Employee Training
- Audit Management
- Consumer Goods & Retail
- IT & Telecom
- Defense & Aerospace
- Transportation & Logistics
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Plex Systems, Inc.
- Unipoint Software, Inc.
- Siemens AG
- EtQ Management Consultants, Inc.
- Dassault Systemes SE
- Arena Solutions, Inc.
- Biovia Corp (Dassault Systemes SE)
- Cority Software Inc.
- Enablon (Wolters Kluwer N.V.)
- Iqms, Inc.
- MasterControl, Inc.
- MetricStream, Inc.
- Microsoft Corporation
- Oracle Corporation
- Pilgrim Quality Solution, Inc.
- QT10 Software
- SAP SE
- Sparta Systems Inc.
- Verse Solutions, Inc.
Key players competing in the global quality management software market are Plex Systems, Inc.; Unipoint Software, Inc.; Siemens AG; EtQ Management Consultants, Inc.; Dassault Systemes SE; Arena Solutions, Inc.; Biovia Corp. (Dassault Systemes SE); Cority Software Inc.; Enablon (Wolters Kluwer N.V.); Iqms, Inc.; MasterControl, Inc.; MetricStream, Inc.; Microsoft Corp.; Oracle Corp.; Pilgrim Quality Solution, Inc.; QT10 Software; SAP SE; Sparta Systems Inc.; and Verse Solutions, Inc.
Companies are focusing on business strategies such as partnerships, collaborations, and merger & acquisitions to expand their market share. Furthermore, key players are also engaging to expand their capacity to leverage their market position.
In December 2020, Honeywell International Inc., a producer of automotive and aerospace industry-specific solutions, has agreed to buy Sparta Systems Inc. to extend its software and life science capabilities.
In August 2020, MasterControl, Inc. introduced a new platform called MasterControl Manufacturing Excellence that aimed at improving manufacturing operations by increasing efficiency and quality.