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Quality Management Software (QMS) Market
The growing emphasis on customer satisfaction is one of the major factors driving the increased adoption of quality management software.
Quality management software is being increasingly used by industries such as retail, defense & aerospace, and healthcare to ensure the safety, efficacy, and quality of products/services.” - Polaris
market ResearchNEW YORK CITY, NY, UNITED STATES, October 4, 2024 /EINPresswire / -- The meticulously prepared research study on quality management software provides a thorough examination of all the key market aspects, including share, trends, developments, and competitive landscape.
The market for quality management software is poised to register a healthy CAGR of 11.0% from 2024 to 2032, according to the latest study by Polaris Market Research. The quality management software market size was valued at USD 9.92 billion in 2023 and is projected to grow to USD 24.92 billion by 2032.
What Is Quality Management Software?
Quality management software (QMS) is defined as a formalized system used by businesses to streamline and automate their quality management processes. It helps organizations document procedures, processes, and responsibilities to achieve quality policies and objectives. Besides, a QMS assists businesses in coordinating and directing their day-to-day activities to comply with customer and regulatory requirements and improve their efficiency and effectiveness continuously.
A QMS can be implemented in several formats, including electronic, paper-based, and hybrid. Each of these quality management systems caters to different organizational needs and preferences. Implementing a QMS affects every aspect of an organization's performance. It helps meet customer requirements, resulting in more customers and increased sales. Other benefits of QMS include reduced waste, lower costs, and fewer mistakes. With rising product launches and growing adoption in the food and beverage industry, the quality management software market demand is anticipated to rise in the upcoming years.
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What Are Key Report Highlights?
.The market for quality management software is projected to grow to USD 24.92 billion by 2032, exhibiting a CAGR of 11.0% from 2024 to 2032.
.Cloud-based quality management software solutions are increasingly used by organizations owing to their extensive range of beneficial features.
.The quality management software market segmentation is primarily based on deployment, enterprise size, application, solution, and region.
.The key regions covered in the research report are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Who Are Market Key Players?
The top players in the market are focusing heavily on research & development initiatives to improve their product offerings. Also, they are undertaking several strategic initiatives to expand their global reach.
The quality management software market key players are:
.Cority
.Dassault Systèmes
.Hexagon MI
.Intelex Technologies
.IQVIA Inc
.Oracle
.Plex (Rockwell Automation)
.PTC
.Qualio
.SAP SE
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What's Driving Market Forward?
.Increasing Product Launches: The rising number of product launches is one of the key factors driving the quality management software market growth. With continuous innovation and the development of new products, companies experience increased pressure to ensure their products meet high-quality standards and regulatory requirements. The complexity and rapid pace of modern product development means robust quality management systems are essential for managing product lifecycle efficiently.
.Growing Adoption: The food and beverage industry needs to adhere to stringent safety and quality regulations, including the standards set by the FSSAI, FDA, HACCP, and ISO 22000. Quality management software offers robust solutions to track and manage quality throughout the supply chain. Also, it helps companies maintain high standards by facilitating comprehensive documentation and real-time monitoring.
.Technological Advancements: Advances in technology, such as artificial intelligence (AI), Internet of Things (IoT), and data analysis, are having a favorable impact on the quality management software market share. These technologies improve the effectiveness and capabilities of quality management software, enabling companies to anticipate issues before they arise.
Which Region Leads Market Demand?
North America accounted for a significant market share in 2023. The region's dominance is primarily attributed to the rising emphasis on the need for healthcare products to meet regulatory requirements. QMS is being extensively used in various healthcare settings across the US, including nursing homes, care facilities, and home ambulatory care providers.
Asia Pacific is projected to experience rapid growth in the quality management software market from 2024 to 2032. The region has witnessed a noticeable surge in the adoption of cloud computing among small and medium-sized businesses. The shift towards cloud computing presents opportunities for the deployment and adoption of cloud-based QMS solutions in APAC.
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How Is Market Segmentation Done?
By Deployment Outlook:
.On-Premise
.Cloud-Based
By Solution Outlook:
.Complaint Handling
.Document Control
.Non-Conformances/Corrective & Preventative
.Employee Training
.Mobile Incidents & Event Reporting
.Change Management
.Quality Inspection (PPAP & FAI)
.Audit Management
.Calibration Management
.Supplier Quality Management
By Enterprise Size Outlook:
.Small and Medium Enterprises
.Large Enterprises
.Others
By Application Outlook:
.Consumer Goods & Retail
.Defense & Aerospace
.Food & Beverage
.Government
.Healthcare
.IT & Telecom
.Life Sciences
.Manufacturing
.Transportation & Logistics
.Utilities
.Others
By Regional Outlook:
.North America
oUS
oCanada
.Europe
oGermany
oFrance
oUK
oItaly
oSpain
oNetherlands
oRussia
oRest of Europe
.Asia Pacific
oChina
oJapan
oIndia
oMalaysia
oSouth Korea
oIndonesia
oAustralia
oVietnam
oRest of Asia Pacific
.Middle East & Africa
oSaudi Arabia
oUAE
oIsrael
oSouth Africa
oRest of Middle East & Africa
.Latin America
oMexico
oBrazil
oArgentina
oRest of Latin America
Browse PMR's Quality Management Software (QMS) Market Report Coverage from Different Publications:
The global Quality Management Software Industry is expected to reach USD 24.92 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.0% during the forecast period (2024 - 2032).
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
Likhil G
Polaris Market Research and Consulting
+1 929-297-9727
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