Global Quality Management Software (QMS) Market Highlights Over 2022-2031

The global quality management software (QMS) market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022-2031. Moreover, in the year 2021, the market registered a revenue of approximately USD 9.0 billion. The growth of the market can be attributed to the customer-oriented approach adopted by organisations in order to satisfy customer demand related to the products or services being offered. Additionally, the growing standards related to quality management are projected to contribute to the growth of the market. As per the International Organization for Standardization, there are specified ISO 9000, ISO 9001, and other quality management standards that have to be followed by every organization. There are more than one million firms and organisations certified to ISO 9001 in over 170 countries, which can further attribute to the growth of the QMS market. Moreover, advancements in technology devices and infrastructure, assisted by emerging technologies, are expected to contribute to the growth of the QMS market.

GET A SAMPLE COPY OF THIS REPORT
 

The growth of the market can also be attributed to the increase in the number of businesses over the forecast period. As per the United States Census Bureau, 202,217 new business applications were filed in the U.S in January 2005, and this increased to 428,443 applications in January 2022. Therefore, the use of quality management software by new enterprises is expected to contribute to the global quality management software market.

Furthermore, owing to the COVID-19 pandemic, transport, manufacturing, and logistics industries have been negatively impacted, which is estimated to affect the growth of the quality management software market in the short term. However, in a competitive world, businesses in different sectors across the globe are recognising the importance of QMS, which is expected to boost the growth of the QMS market.

The quality management software market is segmented by enterprise type into large enterprises and small & medium enterprises. Out of these, the small & medium enterprises segment is anticipated to hold the largest share in the quality management software market by the end of 2031. This is attributed to the availability of different vendors that provide software according to the clients’ needs at a lower cost and allow small & medium enterprises to reduce their own expenses for enterprise operations. According to the World Bank, small and medium-sized businesses account for 90% of all businesses globally. On the basis of deployment, the market is segmented into on-premise and cloud, out of these, the cloud segment is estimated to hold the highest share over the forecasted period owing to its lower operating costs, higher scalability, and mobility.

Additionally, on the basis of end-user, the market is segmented into manufacturing, consumer goods & retail, transportation & logistics, IT & telecom, and others. Out of these, the IT & telecom segment is projected to garner the highest market share by the end of 2031 owing to the emerging technologies that have aided the advancement of technological devices and infrastructure.

Global Quality Management Software (QMS) Market Regional Synopsis

Regionally, the global quality management software (QMS) market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. On the strength of the European Commission's proposal for a General Data Protection and European Data Protection Directive (Directive 95/46/EC) to be followed by cloud-based platforms, the European region is expected to generate the largest revenue by 2031. As per these directives, a higher level of QMS is needed to protect the data from being misused by any person, and this is expected to contribute to the revenue growth of the European region in the quality management software market.

The Asia- Pacific region in the global quality management software market is anticipated to grow at the highest CAGR during the forecast period owing to the high awareness of quality and standards among countries such as India and China. The Indian software industry has shown marvellous growth globally in response to which enterprises in different countries have set up their own research development and information technology centres to take full advantage of the Indian software system. Additionally, these countries have to comply with the quality standards of other countries for inter-country transactions which are further expected to boost the growth of the QMS market.

Global Quality Management Software Market Segmentation

Our in-depth analysis of the global quality management software market includes the following segments:

By Enterprise Type

• Large Enterprises

• Small & Medium Enterprises

 By Deployment

• On-Premise

• Cloud

By End-User

• Manufacturing

• Consumer Goods & Retail

• Transportation & Logistics

• IT & Telecom

• Healthcare

• Others

Growth Drivers and Challenges Impact the Growth of the Global Quality Management Software

Growth Drivers

• The customer-oriented approach adopted by different organizations for goods and services offered to clients

• Advancement in technology devices and infrastructure assisted by the emerging technologies in IT & telecom sector

Challenges

• Negative impact on industry due to COVID-19 pandemic

• Different quality management systems adopted by different countries pose problems for inter-country transactions

Key Companies Dominating the QMS Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the quality management software market that are included in our report are PTC Inc., Microsoft Corporation, Oracle Corporation, Plex Systems, Inc., MasterControl, Inc., Honeywell International Inc., Dassault Systemes, Hexagon AB, ETQ, LLC, Cority, and others. 

Latest Development in the Quality Management Software Market:

• 25 February 2022: Hexagon AB acquired ETQ, a SaaS-based QMS provider, to increase its sale by 2026.

• 21 January 2021: MasterControl, Inc. announces its latest development related to Quality Excellence and Manufacturing Excellence solutions.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.