The global Quality Management Software (QMS) market size is expected to reach USD 17.25 billion by 2028 according to a new study by Polaris Market Research. The report “Quality Management Software (QMS) Market Share, Size, Trends, Industry Analysis Report, By Deployment Type (On-premise, Cloud-based); By Company Size (Small and Medium Enterprises, Large Enterprises); By Solution Type; By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
QMS is used to replace paper-based systems with automated systems that follow stringent regulations and standards. This improves product quality, increases efficiency, and satisfies customer demands. QMS is anticipated to witness remarkable growth owing to the standards and regulations compliance. The key factor that boosts the QMS market is the solutions and systems used to ensure high-efficiency products and processes.
QMS reduces the risk of quality process failures and lower costs for a large number of clients across a range of industries. QMS offers various features such as track deviations, improves non-conformances, improves safety, and other features. The adoption of QMS can help the organization to improve its performance and overall competitiveness.
Owing to the strict regulations, embedded business models, and complex procedures, in the manufacturing, transportation & logistics sector, the implementation of QMS has increased. These regulatory implications are another major driving factor for the concerned software market. The demand for QMS is driven by the consumer goods & retail segment which facilitates the user by delivering high-quality products at a cheap price that meets customer satisfaction.
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QMS offers different solutions which include complaint handling, audit, change management, as well as document control. The factor that triggers the growth of QMS is document control which ensures secure documents and offers a repository for all documentation that makes search and retrieval a very easy task.
Another rising factor that boosts the market growth of QMS is cloud-based deployment which offers flexibility, scalability, and optimized processes. Due to the recent advancements in technology, most companies are switching to cloud-based services.
Key Findings from the study suggest that North America is the major region for management software in 2020. The quality supervision software is dominated by the segments such as non-conformance/ corrective & preventive solutions. The complaint handling market is expected to emerge as the key segment over the forecast period.
Developing economies of Asia Pacific drive the demand for QMS with application in industries such as manufacturing, transportation & logistics. Change management is also one of the key reasons that gain traction in the Asia Pacific market.
Another rising factor that boosts the market growth of QMS is cloud-based deployment which offers flexibility, scalability, and optimized processes. Due to the recent advancements in technology, the majority of companies are switching to cloud-based services.
Key players for QMS in the market are Aras Corporation, Dassault Systems SE, Hewlett-Packard Enterprise Co., MasterControl, Inc., Microsoft Corporation, Oracle Corporation, Parasoft Corporation, PSC Biotech Corp., SAP SE, Siemens AG, and Sparta Systems.
Polaris Market Research has segmented the Quality Management Software (QMS) market report based on solution type, deployment type, company size, application, and region:
Quality Management Software (QMS), Solution Type Outlook (Revenue – USD Billion, 2016 – 2028)
- Complaint Handling
- Change Management
- Non-conformance/corrective & preventive Solution
- Document Control Solution
Quality Management Software (QMS), Deployment Type Outlook (Revenue – USD Billion, 2016 – 2028)
Quality Management Software (QMS), Company Size Outlook (Revenue – USD Billion, 2016 – 2028)
- Small and Medium Enterprises
- Large Enterprises
Quality Management Software (QMS), Application Outlook (Revenue – USD Billion, 2016 – 2028)
- IT & Telecom
- Transportation & Logistics
- Consumer Goods & Retails
- Defense & Aerospace
Quality Management Software (QMS), Regional Outlook (Revenue – USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa