The Quality Management Software (QMS) market was estimated at USD 6.86 billion in 2017. The prime factor propelling the growth of the global quality management software is emerging demand for the efficient process to meet the customer’s expectations and gain competitive edge. Owing to the growing competition among the organizations, QMS implementations are considered vital to outlast the competition.
The important factor that has boosted the QMS market growth are its prominent features along with various benefits over manual quality management processes. QMS includes various functions such as audit management, change management, employee training, calibration management, among others. QMS has wide applications in the fields of transportation, manufacturing, defence, IT & Telecom and other industries.
QMS market is segmented by type of solutions which include complaint handling, audit management, change management, non-conformance/corrective & preventive, and document control and others. Due to the growing usage of standard complaint handling tools and processes, the complaint handling solution is anticipated to grow at a CAGR of 9% during the forecast period. In order to maintain quality assurance in large industries, QMS market is dominated by the document control and non-conformance/corrective & preventive solutions. Document control solutions are used to secure digital signatures and documents which follows stringent quality requirements. Audit management is used to manage the work with simplified processes and audits with the help of established audit programs. It offers tracking capability from scheduling and completion of processes. Another solution in QMS is change management which makes use of methods and resources for supporting the individuals, organization, and teams to successfully adopt change in order to achieve organizational outcomes.
The cloud deployment of QMS is expected to gain traction in the market during the forecast period. While the on-premise solutions are adopted by many companies, the cloud based solutions are projected to drive the market growth in the coming years as numerous companies are switching to cloud. In 2017, Large enterprises dominated the QMS market however, the demand of QMS in small and mid-sized enterprises is expected to grow over the forecast period. Reduced costs for quality management software has pushed the adoption of QMS in SMEs. In-turn they also help in reducing the costs of the finished product by organizing and aligning its processes.
The market is further segmented into applications including defense and aaerospace, it & telecom, consumer goods and retail, healthcare, transportation & logistics, and manufacturing. The healthcare segment is expected to be the largest adopter of QMS. Due to the complex processes and strict regulations, the manufacturing and transportation & logistics segments have a strong demand for QMS solutions. As early adopters of software solutions, North America and European regions are projected to be the prime implementers of QMS. Asia Pacific region is anticipated to be a rapid growing market due to the rising awareness about the QMS and due to increasing international standard compliance. Developing countries such as India and China are expected to fuel the growth of QMS in this region.
Key players of QMS market are Siemens AG, MasterControl, Inc., SAP SE, and Sparta Systems, Inc. Other players include Hewlett-Packard Enterprise Co., Aras Corporation, Microsoft Corporation, Dassault Systems SE, Parasoft Corporation, PSC Biotech Corp., and Oracle Corporation.