The quality management software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Quality Management Software Market, 2024 report by The Business Research
Company offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size -
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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Scope Of Quality Management Software Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Quality Management Software Market Overview
Market Drivers -
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.
Market Trends -
Major companies operating in the quality management software market are
focusing on developing advanced software solutions, such as AI-powered QMS
software, to gain a competitive edge in the market. AI-powered quality
management software (QMS) uses artificial intelligence (AI) and machine
learning algorithms to enhance quality management processes. These systems can
analyze large datasets, identify patterns, and make data-driven recommendations
to improve quality and efficiency. For instance, in September 2023, Intellect,
a US-based software company, launched AI-powered QMS software, emphasizing its
benefits in enhancing quality and safety, saving time, reducing errors, and
improving decision-making. The AI-powered QMS is highly configurable, driving
productivity, quality, and efficiency in quality management initiatives,
offering features like audit readiness, risk assessments, automation, insights,
and time-saving capabilities.
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
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Regional Insights -
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.
Key Companies -
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
Table of Contents
1. Executive Summary
2. Quality Management Software Market Report Structure
3. Quality Management Software Market Trends And Strategies
4. Quality Management Software Market – Macro Economic Scenario
5. Quality Management Software Market Size And Growth
…..
27. Quality Management Software Market Competitor Landscape And Company
Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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